Managed security service providers leverage high-availability security operation centers, either from their own in-house facilities or from other data center providers, to bring round-the-clock services.

1. Managed Security Service Market
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2. Managed Security Service Market : Snapshot
Network security services outsourced to third-party service providers are defined
as managed security services. A managed security services provider (MSSP)
basically is a company that can offer relevant security services to interested
businesses. In short, a managed security service provider monitors and manages
security of all devices and systems belonging to a company or a business. These
systems may be vulnerable to attacks by phishing scams, virus attacks, hackers,
and other type of harmful activities.
Network security services mainly include virtual private network, managing
firewalls, anti-viral scanning, intrusion detection, and several other actions.
Potential clients usually opt for long-term services as these are mainly available
for the best price.

3. Managed Security Service Market : Key Trends
Two of the unique perceived benefits of managed security service is the
convenience and effectiveness in providing high level of security. This has
resulted in their uptake among end users and will continue doing so in the near
future as well, thereby stoking growth in the global market. Further, its ability in
bringing down the expenditure on IT and enabling quick resolution of problems
is also slated work in favor of its market’s growth.
Other factors stoking the market is the soaring uptake of public cloud and the
shared responsibility model for security in the cloud.

4. Managed Security Service Market : Market Potential
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Among the different end users, the banking, financial services and insurance
(BFSI) segment is seeing a rapid change in consumers behaviors which has
resulted in massive usage of mobile applications and other online platforms.
This has resulted in increased susceptibility to cyber-attacks. In December
2016, for example, the Russian central bank along with other private banks lost
US$3 mn in cyber-attacks.

5. Managed Security Service Market : Key Players
The global managed security services market is characterized by stiff competition
owing to the presence of a copious number of small and large vendors. In order to
bolster their positions further, established players are trying to acquire niche
vendors. This would enable them to expand their product portfolio and up market
shares. Some of the prominent vendors profiled in the report are IBM Corporation,
Hewlett Packard Enterprise Company, Verizon Communications, Inc., AT&T, Inc.,
Symantec Corporation, and Rapid7, Inc.
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