Increasing cybercrime activities expected to be a key factor driving the global managed security market during the forecast period.

New York, NY -- (SBWire) -- 11/16/2016 --According to a study conducted by Persistence Market Research, the global managed security market is foreseen to expand at 17.6% CAGR over the forecast period (2016-2026). PMR indicated that the market is estimated to stand at US$ 100.88 Bn by the end of 2026.

Demand for managed security systems is expected to gain traction owing to increasing cybercrime activities and growing requirements for advanced security systems. In addition, cost-effectiveness, speedy and timely delivering, 24 X 7 surveillance and monitoring support, and adaptability to changing compliance standards are some of the key factors driving global managed security market. Likewise, growing trend of permitting employee-owned device at workplaces is expected to further govern the overall market growth. On the other hand, entry barriers in the form of scalability, risk related to outsourcing internal security information, lack of professional expertise and automation are likely to deter the growth of managed security services market over the forecast period.

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The global managed security services market is categorized into service type deployment type, organization, application type, and geography.

Based on service type, the market is segmented into SIEM, IPS/IDS, end point security, DDoS, threat management, and firewall management. Demand for end point security, threat management and SIEM segment is expected to be high during the forecast period. In addition, allowing employee-owned devices to workplaces is expected to have a significant influence on the growth of these segments. Similarly, surfacing of cloud platforms, digital and social innovation, Internet of Things (IoT) and mobile solutions is anticipated to further support the overall market to growth. On the basis of organization, the global managed security market is segmented into large enterprises and small and medium enterprises.

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Based on deployment, the market is bifurcated into web-based and cloud-based deployment. The cloud-based segment is expected to expand at 20.1% CAGR through 2026, this is attributed to the scalability, flexibility and quick deployment of cloud-based platforms.

By organization type, the market is segmented into small & medium enterprise and large enterprise. The small & medium enterprise is expected to be the largest segment, registering a healthy CAGR of 19.2% during the forecast period.

On the basis of application type, the market is segmented into BFSI, retail, telecommunications, healthcare, and others.

On the basis of geography, the market is segmented into North America, Eastern Europe, Asia Pacific excluding Japan (APEJ), Western Europe, Japan, the Middle East & Africa (MEA), and Latin America. In terms of value, the market in North America is expected to maintain its dominance during the forecast period. Further, the region is anticipated to account for over 31% value share of the global market and surpass US$ 6,260 Mn by 2016 end. Western Europe is expected to contribute a significant percentage of share to the managed security services market. In addition, the West Europe managed security service market is estimated to surpass US$ 20.600 Billion by 2026 end. Owing to a healthy presence of medium and large professional organizations in developed regions the adoption of managed security services is higher. Thus, the market for managed security in regions such as North America and Europe is witnessing a robust growth.

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Key market participants operating in the global managed security market include Symantec Corporation, IBM Corporation, Computer Science Corporation, AT&T Inc., Cisco Systems, Inc., Checkpoint Software Technologies Limited, Fortinet, Inc., Accenture PLC, Trustwave Holdings, Inc., and Intel Corporation.