Market for Managed Security Service Provider Market by Organization Size Large Enterprises Small and High Growth Trends & Projections
According to new research, the global market for managed security services is anticipated to generate sales of $53.2 billion by the end of 2031, a 264% increase from the segment's revenue of $14.6 billion in 2021. The market is projected to develop at a 14.2% compound annual growth rate (CAGR) until 2031.
According to data compiled by researcher Managed Security Service Provider MarketTransparency industry Research, a related industry, the managed services consulting segment, is anticipated to generate $28.2 billion in sales by 2031 while advancing at a CAGR of 8.4%.
Transparency mostly attributes the growth to managed security service providers, who provide cybersecurity solutions in businesses to protect sophisticated corporate networks. The survey discovered that identity and access management (IAM) is a "remarkably lucrative segment" and that market share is being driven by the rising need for these solutions for enterprise-wide security.
By 2030, the market for security solutions for industrial control systems is projected to reach $54.8 billion, growing at a CAGR of 11.5%.
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