Increasing rate of cybercrime activities, growing adoption of mobile devices to access corporate network, and rising importance of e-business have led to the development of effective security infrastructure with managed security services.

Portland, OR -- (SBWire) -- 10/30/2017 --The Global Managed Security Services Market (MSS) refer to the remote monitoring and management of IT security functions by third-party service providers in order to effectively protect the sensitive data of organizations. The task of information security is becoming more complex with the growth of business in terms of size and structure and utilization of social media, cloud services, big data and various computing devices. Rising number of security attacks and malicious practices by organized cybercriminal groups has been creating concerns among the organizations across all industry sectors.

Managed Security Services Market is expected to garner $40.97 billion by 2022, registering a CAGR of 16.6% during the forecast period 2016-2022.

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The managed security services market focuses on various applications which include managed IPS/IDS, DDoS, UTM, firewall management, endpoint security, and others. IPS/IDS constitute the highest market share as the they provide protection to any sized networks. The combined package of IDS and IPS solution provides the features of both solutions in single package. Nonetheless, Endpoint security application is witnessing growth with the rise in application of mobile devices to access corporate network.

Generally, managed security services are delivered in two basic modelson-premise or customers premise equipment and cloud-based managed security service model. The on-premise or customers premise equipment constitute the highest market share and is preferred in cases when organization/companies are concerned about security of sensitive information over cloud.

The managed security services market comprises dominant players such as IBM Corp., HP, Dell SecureWorks, Cisco Systems Inc., Symantec, AT&T, BT Group, Verizon, and others. These market players primarily focus on the development of new features, launch of innovative products with exceptional variations, and adoption of R&D and acquisition as their key strategies to establish their position in the market.

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Key findings of Managed Security Services Market:

IPS/DPS market is expected to exhibit a remarkable growth during the forecast period.

On-premise or Customer Premise Equipment (CPE) deployment mode contribute the highest market share.

The Asia-Pacific region is expected to exhibit a promising growth owing to increasing rate of adoption in the region.

Industry participants focus on introducing new products with innovations and to improve their market share