Global Managed Security Services Market to Reach US$8.4 Billion by 2015, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Managed Security Services (MSS) market. Driven by the enterprises’ efforts at curtailing costs during the recession as well as increasing complexity of the attacks from hackers, apart from compliance needs due to market regulations, the global MSS market is projected to reach US$8.4 billion by the year 2015. Strong demand from developing nations, particularly Asia-Pacific, also augur well for the market.

Managed Security Services: A Global Strategic Business Report

Network security and risk management are playing a pivotal role in today's organizations, which in turn has resulted in the emergence of managed security services market globally to manage security and network threats. Increasing complexity of the attacks from hackers is forcing companies to keep consistently upgrade their security systems. As a result, companies are turning to specialized service providers in order to manage the network security concerns. Managed security services represents a rapidly developing market driven by the growing ubiquity of the Internet in the organization and the growing requirement by companies to maintain and track e-mails, network logs and other data. In addition, with significant cost reductions in the MSS sector due to the use of hosted security systems, there is an increasing adoption of MSS by small and medium businesses (SMBs). In future, the MSS market is likely to expand from managing and maintaining firewalls and anti-viruses to include a comprehensive crisis management program.

The MSS market is not completely immune from the vagaries and effects of recession and witnessed a dip in growth rates from 2008 onwards. However, the market managed to report positive performance buoyed by enterprise efforts in curtailing costs during the recession. More and more organizations shifted from self-maintained security solutions towards managed security service providers (MSSPs) in order to cut costs as well as to free organizational resources for running the core operations. Emergence and growing popularity of next generation services such as SaaS and hosted services such as cloud computing are reducing both the upfront capital expenditure as well as the operating costs, thereby leading to higher adoption of MSS. Moreover, customers perception of greater ID thefts and frauds during the recession also played a part in organizations availing sophisticated security systems from expert companies.

Asia-Pacific is likely to forge ahead as the largest MSS market with developing countries such as China and India at the vanguard of growth, as stated by the new market research report on Managed Security Services. North America represents the largest market for MSS. Among the various service segments, IDS/IPS represents the largest as well as the fastest growing market. Within the IDS/IPS segment, the industry is witnessing a shift in technology towards intrusion prevention systems (IPS) from the conventional intrusion detection systems.

In the North American MSS market, financial sector accounts for the largest share of the managed security service revenues with legislations fostering the need for greater information security and compliance. North America represents the largest market for Firewall/VPN services. The average European MSS contract size is higher in value as compared to those in North America and Asia-Pacific. IT infrastructure as well as communications service providers dominate the European MSS market, while security specialists hold a niche.

The global MSS landscape presents a highly fragmented and competitive picture. The market comprises players from diverse backgrounds, ranging from pure play specialized MSSPs to telcos, system integrators and value-added resellers, IT outsourcing companies, and security product vendors. Telcos form the fastest growing segment of MSS providers and are expected to fundamentally alter the market landscape in the future by leveraging their existing large customer base to lower the costs through economies of scale. Large IT infrastructure players as well as telcos are increasingly acquiring standalone pure play MSSPs, which is resulting in the presence of fewer standalone MSSPs. Major MSS players profiled in the report include AT&T, Avaya, Check Point Software Technologies, Cisco Systems, Fortinet Inc, IBM-ISS, Juniper Networks, McAfee, Inc., Nortel Networks, Qualys, SonicWALL, Symantec, UBIqube Solutions, Unisys Corporation, VeriSign and WatchGuard Technologies Inc among others.

The research report titled “Managed Security Services: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of the recent market trends, issues, drivers, company profiles, mergers, acquisitions and other strategic industry activities. The report provides global market estimates and projections in US$ Million for major geographic markets including North America, Europe, Asia-Pacific and Rest of World. Service segments analyzed under the report include: Firewall/VPN Services, IDS/IPS, Assessment Services, and Others. In addition, the report also provides analytics in terms of following end-use sectors: Financial, Government, Healthcare, Manufacturing, Utilities, and Others.

For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Managed_Security_Services_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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