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Managed Security Services Market worth $52.9 billion by 2028 – Exclusive Report by MarketsandMarkets™

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Increased demand for cloud-based solutions, the adoption of Zero Trust architecture, the integration of AI and ML technologies, and an emphasis on industry-specific solutions, SMEs, and regulatory compliance are expected to characterize the Managed Security Services Market in the future. Furthermore, driving market expansion and change will be the convergence of IT operations and security, the introduction of MDR services, and the security of IoT and OT environments.
CHICAGO, Feb. 14, 2024 /PRNewswire/ — The global Managed Security Services Market size is expected to grow from USD 30.6 billion in 2023 to USD 52.9 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 11.5% during the forecast period, according to a new report by MarketsandMarkets™. The escalation of cyberattacks and sophisticated breaches across enterprises are driving organizations to seek expert help in navigating the complex and ever-evolving threat landscape. Also, the stringent government regulations are demanding robust data security further driving the global Managed Security Services Market.

 
Browse in-depth TOC on “Managed Security Services Market”
401 – Tables 60 – Figures404 – Pages
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Scope of the Report
Report Metrics
Details
Market size available for years
2018-2028
Base year considered
2022
Forecast period
2023-2028
Forecast units
Value (USD Million/ Billion)
Segments Covered
By service type, type, security type, organization size, vertical and region
Regions covered
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Companies covered
IBM (US), NTT (Japan), Accenture (Ireland), DXC Technology (US), Secureworks (US), Trustwave (US), Atos (France), Orange Cyberdefense (France), Fujitsu (Japan), AT&T (US), Verizon (US), Capgemini (France), HPE (US), Cisco (US), TCS (India), Kudelski Security (Switzerland), F5(US), Infosys (India), Lumen Technologies (US), Crowdstrike (US), Kroll (US), Nokia Networks (Finland), Trend Micro (Japan), Cipher Security (US), RSI Security (US), SecurityHQ (UAE), TrustNet (US), LightEdge (US), Nettitude (US), Teceze (US), CyFlare (US), Ascend Technologies (US), Avertium (US), DigitalXRAID (UK)
 
The type fully managed segment is expected to grow at the highest CAGR during the forecast period.
The fully managed segment is expected to see continued growth in the coming years as organizations seeking complete control and minimal involvement in security operations opt for fully managed MSS. This provides hands-off security with minimal resource allocation from the in-house team. Organizations can align their resources and efforts with strategic initiatives rather than dedicating significant resources to security operations.
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The SMES segment is expected to grow at the highest CAGR during the forecast period.
SMEs often lack the in-house cybersecurity expertise to manage and protect their digital assets effectively. MSS provides access to skilled professionals who can address their security needs without requiring internal expertise in a myriad of applications, services, and content for businesses and consumers.
Middle East& Africa is likely to emerge as the fastest-growing segment during the forecast period.
The Middle East & Africa Managed Security Services Market anticipates sustained explosive growth, driven by government policies, cloud adoption, the talent gap, and a growing focus on digitalization, with businesses across the region increasingly relying on MSS partners to navigate the complex cyber landscape and safeguard their valuable assets.
Top Key Companies in Managed Security Services Market:
The major vendors covered in the  MSS market are IBM (US), NTT (Japan), Accenture (Ireland), DXC Technology (US), Secureworks (US), Trustwave (US), Atos (France), Orange Cyberdefense (France), Fujitsu (Japan), AT&T (US), Verizon (US), Capgemini (France), HPE (US), Cisco (US), TCS (India), Kudelski Security (Switzerland), F5(US), Infosys (India), Lumen Technologies (US), Crowdstrike (US), Kroll (US), Nokia Networks (Finland), Trend Micro (Japan), Cipher Security (US), RSI Security (US), SecurityHQ (UAE), TrustNet (US), LightEdge (US), Nettitude (US), Teceze (US), CyFlare (US), Ascend Technologies (US), Avertium (US), DigitalXRAID (UK).
Recent Developments:
In November 2023, Rapid7 chose TruVisor as its exclusive distributor for cybersecurity solutions in the ASEAN and India regions. This partnership aims to enhance their joint customers’ cybersecurity capabilities through Rapid7’s security platforms. This strategic collaboration is significant in the growing cybersecurity market in these regions.In November 2023, Accenture acquired Innotec Security, a privately held company specializing in cybersecurity-as-a-service, cyber resilience, and cyber risk management, expanding its capabilities and footprint in Spain. Innotec Security was previously owned by parent company Entelgy Group. The acquisition of Innotec Security—which also has a presence in Barcelona, Seville, and the Basque Country—will add 500 cybersecurity professionals to Accenture Security’s workforce of 20,000 professionals globally, making Accenture Security one of the top managed security services (MSS) players in Spain.In August 2023, DXC Technology signed an IT Infrastructure Services Agreement with AT&T; under the agreement, DXC will manage AT&T’s midrange IT infrastructure, which spans AT&T’s enterprise compute, storage, backup, and recovery environments. DXC will also provide system, database, storage administration, hardware architecture, and maintenance across these environments.In June 2023, Secureworks unveiled the Taegis XDR (Extended detection and response), and Taegis Managed XDR for OT (operational technology) offerings to help industrial organizations protect against cyber threats. Taegis XDR combines IT security telemetry with OT intelligence and uses analytics and machine learning to help organizations identify threats and prioritize the most serious ones.Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=5918403
Managed Security Services Market Advantages:
Managed security service providers (MSSPs) are companies that specialise in cybersecurity and offer access to highly qualified personnel and cutting-edge security technologies that can be difficult for businesses to maintain internally.It may be less expensive to outsource security to MSSPs than to create and maintain an internal security infrastructure. MSSPs frequently provide various pricing options so that businesses can pay for just the services they really use.Data breaches are prevented and the effects of security incidents are lessened thanks to MSSPs’ round-the-clock monitoring and response capabilities, which can identify and neutralise security threats instantly.MSSPs help organisations keep ahead of changing cybersecurity risks by using threat intelligence and analytics to proactively identify and mitigate emerging attacks.By putting in place security policies and controls that comply with industry standards and laws, MSSPs help businesses achieve and maintain regulatory compliance while lowering the risk of fines for non-compliance.Rather of necessitating large investments in new infrastructure or resources, managed security services may expand with the changing demands of businesses, supporting expansion and shifts in the threat landscape.Organisations can increase productivity and efficiency by focusing on their main business activities instead of handling complex security operations by outsourcing security to MSSPs.MSSPs make investments in and use state-of-the-art security tools and technologies, giving clients access to the newest threat detection and prevention capabilities that might be too complex for them to adopt on their own.Report Objectives
To describe and forecast the global Managed Security Services Market by service type, type, security type, organization size, vertical, and regionTo forecast the market size of five main regions: North America, Europe, the Asia Pacific, Middle East & Africa, and Latin AmericaTo analyze the subsegments of the market concerning individual growth trends, prospects, and contributions to the overall marketTo provide detailed information related to major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the marketTo analyze the opportunities in the market for stakeholders and provide the competitive landscape details of major playersTo profile the key players of the Managed Security Services Market and comprehensively analyze their market shares and core competenciesTo track and analyze competitive developments, such as mergers and acquisitions (M&A), new product developments, partnerships, and collaborations in the marketBrowse Adjacent Market: Information Security Market Research Reports & Consulting
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About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:Mr. Aashish MehraMarketsandMarkets™ INC.630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Insight: https://www.marketsandmarkets.com/ResearchInsight/managed-security-services-market.aspVisit Our Website: https://www.marketsandmarkets.com/Content Source: https://www.marketsandmarkets.com/PressReleases/managed-security-services.asp
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CYRISMA, a leading Risk Management Platform for MSPs, secures $7 million Growth Equity Financing led by Blueprint Equity

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October 9, 2024

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ROCHESTER, N.Y., Oct. 9, 2024 /PRNewswire/ — CYRISMA, an all-in-one risk management platform, announced its Series A financing today. Led by Blueprint Equity, with participation from SaaS Venture and Golden Ventures, the funding will accelerate CYRISMA’s platform development, fuel customer success, and expand sales and marketing initiatives.

CYRISMA accelerates security programs for MSPs by providing a cost-effective, all-in-one solution to identify, prioritize, and remediate vulnerabilities, track compliance requirements, and manage AI security risk.
“In partnering with Blueprint Equity, we are excited to leverage their expertise and resources to further enhance our platform and support our customers,” said Liam Downward, co-founder and CPO of CYRISMA. “This investment will allow us to continue delivering an affordable and comprehensive risk management solution, empowering MSPs to protect their clients effectively. Additionally, it enables us to enter into new markets, expanding our reach and increasing brand awareness.”
Blueprint Equity’s Sheldon Lewis, who will join CYRISMA’s Board of Directors, commented, “With the rise of security threats for SMBs, there’s been an increasing number of businesses outsourcing their cybersecurity to MSPs. This has accelerated demand in the market for strong, multi-tenant cybersecurity solutions for MSPs to best serve their clients.” He added, “We were drawn to the breadth of the CYRISMA platform and their strong customer satisfaction. Oliver Downward, CEO, Liam, and the team have an unparalleled insight into the MSP market, and we’re honored to partner with CYRISMA during their next phase of growth.”
About CYRISMA
CYRISMA is an all-in-one risk management platform for Managed Service Providers. With the rise in security threats and demand for cybersecurity services, CYRISMA provides MSPs with an effective, all-in-one solution to manage their cybersecurity initiatives for clients in a multi-tenant platform. To schedule a demo of CYRISMA, please visit https://www.cyrisma.com/.
About Blueprint Equity
Blueprint Equity provides expansion capital to high-growth, capital-efficient enterprise software and technology-enabled services businesses worldwide. Blueprint has $275 million of assets under management and is based in La Jolla, CA. For more information, please visit www.onblueprint.com.
Media Contact:Oliver [email protected]

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Centivax Selects Global CDMO BioCina to Initiate cGMP Manufacturing of Revolutionary Universal Influenza Vaccine

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October 9, 2024

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ADELAIDE, South Australia, Oct. 9, 2024 /PRNewswire/ — BioCina Pty Ltd., a global end-to-end biologics Contract Development and Manufacturing Organization (CDMO), announced a new partnership with Centivax, Inc., for a project involving cell line development, cell banking and plasmid DNA manufacture. Centivax is developing Cent-Flu, a universal influenza vaccine, consisting of a proprietary multivalent mixture of 22 unique mRNA transcripts delivered as a lipid nanoparticle (LNP) encapsulated mRNA vaccine. In vivo, the vaccine has been demonstrated to convey protection against current, past, and future influenza strains. BioCina will provide proven expertise in the selection of optimal plasmid manufacturing cell lines, Master Cell Bank (MCB) and plasmid manufacturing, to support Centivax’s progression to First-in-Human clinical trials.

 BioCina’s Chief Executive Officer, Mark W. Womack stated, “We’re privileged to support Centivax’s breakthrough approach to sustained flu prevention and we couldn’t be more excited to be their partner of choice to initiate cGMP manufacturing, thus advancing the journey to bring such an important vaccine to market. This is a tremendous opportunity for the BioCina Team to leverage our world-class capabilities in cell line development, cell banking, and cGMP plasmid production.”
Centivax’s Chief Executive Officer, Jacob Glanville, said, “We are thrilled to announce BioCina as our Master Cell Bank manufacturing partner for the first phase of manufacturing our universal influenza vaccine. BioCina’s exemplary expertise and track record in mRNA/LNP MCB, combined with their state-of-the-art facilities, aligns perfectly with Centivax’s commitment to innovation and quality. This partnership enables us to leverage BioCina’s expertise to ensure the highest standards of vaccine production. Together, we’re taking a significant step forward in bringing our universal influenza vaccine to market, with the goal of providing broad, lasting protection against the disease on a global scale.”
About BioCinaBioCina is a global end-to-end biologics Contract Development and Manufacturing Organisation (CDMO), offering highest-quality, cost-effective cell line, process, analytical and formulation development, and cGMP clinical & commercial manufacturing for the microbial, pDNA and mRNA modalities. BioCina’s first facility in Adelaide, South Australia has a rich history of developing and manufacturing both clinical and commercial drug substance, backed by most critical SME’s having an average tenure of 15+ years at the site. BioCina boasts an elite quality record having successfully passed regulatory inspections by the US FDA, EMA, TGA and Health Canada. Through a partnership with NovaCina, BioCina offers clients a highest-quality fill-and-finish solution. BioCina is proud to have clients globally, including the U.S., Europe, and the Asia Pacific. Australia offers one of the most attractive tax incentives globally (up to 48.5% cash refund), and one of the world’s premier trial networks, making it an ideal destination for biologics companies looking to invest in scaling-up and manufacturing products. Visit https://biocina.com.
About CentivaxCentivax is a universal vaccine platform technology company founded and led by experts in vaccinology, vaccine regulatory affairs, immunology, and computational bioengineering. The universal vaccine platform intellectual property has demonstrated unprecedented breadth of protection against influenza and coronaviruses. The platform delivers ultra-broad neutralizing titers, HAI titers and in-vivo protection in ferrets, pigs, rats, mice and human immune organoids. Development of the Centivax platform has been financially supported by the Global Health Investment Corporation (GHIC) BARDA venture arm, NFX, BLUE KNIGHT™ J&J/BARDA program, the Bill and Melinda Gates Foundation, the National Institute of Health (NIH), the Naval Medical Research Center, the Walter Reed Army Institute of Research, the Medical Technology Enterprise Consortium, the Department of Defense, and the National Institute for Innovation in Manufacturing Biopharmaceuticals. Centivax is on a mission to accelerate the world’s transition to a post-pathogen humanity.
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Hyperview Revolutionizes Data Center Management with Advanced DCIM Suite

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October 9, 2024

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New Carbon Footprint Reporting Delivers Unmatched Insights, Optimizing Sustainability and Performance
VANCOUVER, British Columbia, Oct. 9, 2024 /PRNewswire/ — Hyperview, the leading cloud-based data center infrastructure management (DCIM) platform, today unveiled a suite of groundbreaking features set to transform data center management through detailed measurement and comprehensive sustainability tools.

At the heart of this is Hyperview’s new carbon footprint reporting system, providing granular insights that surpass traditional location-based methods. The initial offering provides location and rack-level carbon footprint reporting, with future releases set to include carbon footprint reporting down to the asset level. This phased approach enables a level of detailed analysis previously unseen in the industry, allowing for more informed, impactful operational decisions. By offering a holistic view of a data center’s environmental impact, from equipment performance to overall energy consumption, Hyperview is setting a new standard for sustainability management in the digital infrastructure sector.
“The timing of this release is crucial”, says President and CEO Jad Jebara. “As the data center industry faces mounting pressure to address its environmental impact. Data centers currently consume 1.5% of the global energy supply and emit 59 million metric tonnes of CO2 annually. Without significant intervention, experts project this consumption could skyrocket to 8% by 2030. Hyperview’s solutions enable targeted reduction strategies, addressing inefficiencies in IT equipment management and providing detailed emissions analysis.”
Key Highlights:
Phased Reporting Implementation: Initial offering includes location and rack-level carbon footprint reporting, with asset-level insights coming in future releases.Asset-Level Analysis: Enables impactful decision-making through detailed equipment, material, and power data.Predictive Capabilities: Offers current data and future predictions, surpassing competitors’ reliance on historical information.Cost-Effective Solution: Eliminates need for additional professional services through automated data collection and presentation.Regulatory Compliance: Assists in navigating evolving regulations (SB 253, CSRD, EED) while improving ESG performance.Comprehensive Sustainability Tools:Carbon footprint tracking and managementUnlocking stranded power and cooling capacityMonitoring energy usage efficiency and kilowatt hours at rack-levelSetting rack-level thresholds for power and temperatureMonitoring temperature, Delta-T, and humidity”Hyperview’s precision in digital infrastructure management is akin to diagnosing a specific medical condition rather than broadly identifying an illness,” continues Jebara “While competitors might broadly identify issues, Hyperview pinpoints specific causes, enabling our clients to make targeted improvements, significantly reducing their carbon footprint and operational costs.”
These features allow clients to gain a detailed understanding of their energy consumption and identify areas for improvement, contributing to significant carbon footprint reductions. The platform’s detailed data helps clients understand their current situation and make accurate future predictions.
With this advanced DCIM suite, Hyperview reaffirms its position as a leader in data center management solutions, offering unparalleled tools for sustainability, efficiency, and regulatory compliance. As the industry evolves, Hyperview remains at the forefront, driving innovation and enabling data centers to meet the challenges of tomorrow.
To experience Hyperview’s Carbon Footprint Reporting firsthand, schedule a demonstration at https://www.hyperviewhq.com/carbon-footprint/
About Hyperview
Hyperview is the leading cloud-based data center infrastructure management (DCIM) platform that empowers enterprises to optimize capacity, reduce power and energy consumption, lower costs, and avoid outages. The powerful and easy-to-use platform includes Asset Management, Energy Management, Power and Environmental Monitoring, Capacity Planning, and 3D Visualization. Learn more at www.hyperviewhq.com. 
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