Market Size & Share Analysis for Managed Security Service Provider Market Growth Trends & Projection

Managed Security Service Provider Market Growth

Cybercriminals are becoming more coordinated and agile as they make use of new technologies, customize their attacks, and form novel partnerships. In 2021, the public submitted 847,376 complaints of cybercrime to the FBI, a 7% increase from 2020, according to the FBI's Internet Crime Report 2021.

 

HIPAA reports that AccudocSolutions, UnityPoint Health, and the Employees' Retirement System of Texas were among the top three healthcare businesses in the United States to have a data breach that resulted in the loss of more than 5.2 million patient records.

The market has been examined based on these offers to determine the various uses for these services in the end-user sectors. Market projections show the revenue generated by managed security services globally. Based on the commercial impact of the COVID-19 pandemic, the estimates are modified.

From 2022 to 2028, the size of the global Managed Security Service Provider Market is projected to increase at a CAGR of 12.9%, rising from USD 24.13 billion in 2022 to USD 50.07 billion by that time.

20 February 2023, New York GLOBE Security Services Market Size, Share, Growth and Global Forecast to 2028 - COVID-19 Impact and Global Analysis By Service Type Threat Management, Vulnerability Management, Log Management, SIEM, and Compliance Management, Threat Management Type [Managed Firewall, Managed]," published by The Insight Partners.

Since the pandemic's start, there has been an increase in cyberattacks, which has spurred industry growth. The average ransomware payment, for instance, increased by 82% to a record $570,000 in the first half of 2021 from $312,000 in 2020, according to a report from Palo Alto Networks' Unit 42 security consultancy group. Thus, the rise in cyberattacks and ransomware increases the need for managed security services, which in turn propels the expansion of the global managed security services market.

The global Managed Security Service Provider market is driven by an increase in cybercrime activities, cost efficiency, and strict regulatory restrictions. The market for managed security services is expanding as a result of the rising popularity of mobile devices at work and the increase in electronic data. However, reluctance to divulge private information limits market expansion. Additionally, it is anticipated that throughout the projected period, rising demand for customized services, the increasing relevance of e-business, and increasing awareness of data security would provide lucrative prospects for market growth.

Cybercriminals are becoming more coordinated and agile as they make use of new technologies, customize their attacks, and form novel partnerships. In 2021, the public submitted 847,376 complaints of cybercrime to the FBI, a 7% increase from 2020, according to the FBI's Internet Crime Report 2021.

 

HIPAA reports that AccudocSolutions, UnityPoint Health, and the Employees' Retirement System of Texas were among the top three healthcare businesses in the United States to have a data breach that resulted in the loss of more than 5.2 million patient records.

The market has been examined based on these offers to determine the various uses for these services in the end-user sectors. Market projections show the revenue generated by managed security services globally. Based on the commercial impact of the COVID-19 pandemic, the estimates are modified.

From 2022 to 2028, the size of the global Managed Security Service Provider Market is projected to increase at a CAGR of 12.9%, rising from USD 24.13 billion in 2022 to USD 50.07 billion by that time.

20 February 2023, New York GLOBE Security Services Market Size, Share, Growth and Global Forecast to 2028 - COVID-19 Impact and Global Analysis By Service Type Threat Management, Vulnerability Management, Log Management, SIEM, and Compliance Management, Threat Management Type [Managed Firewall, Managed]," published by The Insight Partners.

Since the pandemic's start, there has been an increase in cyberattacks, which has spurred industry growth. The average ransomware payment, for instance, increased by 82% to a record $570,000 in the first half of 2021 from $312,000 in 2020, according to a report from Palo Alto Networks' Unit 42 security consultancy group. Thus, the rise in cyberattacks and ransomware increases the need for managed security services, which in turn propels the expansion of the global managed security services market.

The global Managed Security Service Provider market is driven by an increase in cybercrime activities, cost efficiency, and strict regulatory restrictions. The market for managed security services is expanding as a result of the rising popularity of mobile devices at work and the increase in electronic data. However, reluctance to divulge private information limits market expansion. Additionally, it is anticipated that throughout the projected period, rising demand for customized services, the increasing relevance of e-business, and increasing awareness of data security would provide lucrative prospects for market growth.

Cybercriminals are becoming more coordinated and agile as they make use of new technologies, customize their attacks, and form novel partnerships. In 2021, the public submitted 847,376 complaints of cybercrime to the FBI, a 7% increase from 2020, according to the FBI's Internet Crime Report 2021.

 

HIPAA reports that AccudocSolutions, UnityPoint Health, and the Employees' Retirement System of Texas were among the top three healthcare businesses in the United States to have a data breach that resulted in the loss of more than 5.2 million patient records.

The market has been examined based on these offers to determine the various uses for these services in the end-user sectors. Market projections show the revenue generated by managed security services globally. Based on the commercial impact of the COVID-19 pandemic, the estimates are modified.

From 2022 to 2028, the size of the global Managed Security Service Provider Market is projected to increase at a CAGR of 12.9%, rising from USD 24.13 billion in 2022 to USD 50.07 billion by that time.

20 February 2023, New York GLOBE Security Services Market Size, Share, Growth and Global Forecast to 2028 - COVID-19 Impact and Global Analysis By Service Type Threat Management, Vulnerability Management, Log Management, SIEM, and Compliance Management, Threat Management Type [Managed Firewall, Managed]," published by The Insight Partners.

Since the pandemic's start, there has been an increase in cyberattacks, which has spurred industry growth. The average ransomware payment, for instance, increased by 82% to a record $570,000 in the first half of 2021 from $312,000 in 2020, according to a report from Palo Alto Networks' Unit 42 security consultancy group. Thus, the rise in cyberattacks and ransomware increases the need for managed security services, which in turn propels the expansion of the global managed security services market.

The global Managed Security Service Provider market is driven by an increase in cybercrime activities, cost efficiency, and strict regulatory restrictions. The market for managed security services is expanding as a result of the rising popularity of mobile devices at work and the increase in electronic data. However, reluctance to divulge private information limits market expansion. Additionally, it is anticipated that throughout the projected period, rising demand for customized services, the increasing relevance of e-business, and increasing awareness of data security would provide lucrative prospects for market growth.

Cybercriminals are becoming more coordinated and agile as they make use of new technologies, customize their attacks, and form novel partnerships. In 2021, the public submitted 847,376 complaints of cybercrime to the FBI, a 7% increase from 2020, according to the FBI's Internet Crime Report 2021.

HIPAA reports that AccudocSolutions, UnityPoint Health, and the Employees' Retirement System of Texas were among the top three healthcare businesses in the United States to have a data breach that resulted in the loss of more than 5.2 million patient records.

The market has been examined based on these offers to determine the various uses for these services in the end-user sectors. Market projections show the revenue generated by managed security services globally. Based on the commercial impact of the COVID-19 pandemic, the estimates are modified.

From 2022 to 2028, the size of the global Managed Security Service Provider Market is projected to increase at a CAGR of 12.9%, rising from USD 24.13 billion in 2022 to USD 50.07 billion by that time.

20 February 2023, New York GLOBE Security Services Market Size, Share, Growth and Global Forecast to 2028 - COVID-19 Impact and Global Analysis By Service Type Threat Management, Vulnerability Management, Log Management, SIEM, and Compliance Management, Threat Management Type [Managed Firewall, Managed]," published by The Insight Partners.

Since the pandemic's start, there has been an increase in cyberattacks, which has spurred industry growth. The average ransomware payment, for instance, increased by 82% to a record $570,000 in the first half of 2021 from $312,000 in 2020, according to a report from Palo Alto Networks' Unit 42 security consultancy group. Thus, the rise in cyberattacks and ransomware increases the need for managed security services, which in turn propels the expansion of the global managed security services market.

The global Managed Security Service Provider market is driven by an increase in cybercrime activities, cost efficiency, and strict regulatory restrictions. The market for managed security services is expanding as a result of the rising popularity of mobile devices at work and the increase in electronic data. However, reluctance to divulge private information limits market expansion. Additionally, it is anticipated that throughout the projected period, rising demand for customized services, the increasing relevance of e-business, and increasing awareness of data security would provide lucrative prospects for market growth.