Europe Managed Security Service Market Research Report, Market Analysis, Market

Posted by kenresearch on November 13th, 2018

A systematic approach to managing an organization’s security needs is termed as Managed Security Services or MSS. It is needed for better security against contravention and or cyber-attacks and is accomplished by both in-house and outsourced to service providers. Managed Security Services or MSS oversee other organizations information system security and network; oversee patch management and upgrades, responding to emergencies, round-the-clock monitoring and management of intrusion detection systems and firewalls and performing security audits and assessments. All the outsourcing security operations utilized to managed security service providers need core expertise and skilled workforce to improve the quality of protection of managed security services. Digitalization id the key factor that drives the growth of managed security services MSS market coupled with increasing trend of being your own devices (BYOD) and the need to secure the devices. It was observed that there are increasing instances of frequent security breaches and cyber-attacks due to the rise in complexity. Globally, all the organizations are increasingly deploying managed security service providers to monitor and provide better protection.

According to the study “Managed Security Services (MSS) in Europe: Telco’s' MSS Portfolios and Market Approach”, managed security service market is segmented based on industry verticals such as telecom and IT, retail, healthcare, hospitality sectors, manufacturing, government and utilities, research and development (R and D), and banking financial services and insurance (BFSI). The major end users are government utility sectors, telecom and IT and the BFSI which account for a large share. Managed security service market outsourcing proves to be a viable and economical due to the rise in numbers, cost, lack of internal expertise, and complexity of threats. Various applications of managed security services are a risk assessment, confidentiality, compliance, business continuity, access control, and network security. Confidentiality, compliance and network security services account for a major share within the managed security services market.

A majority of the internet and telecom service providers are interlinked with prominent managed security services such as IBM Corp., AT&T Inc., Bell Canada Inc., Wipro Technology Services Ltd., and Tata Communications Ltd. which are also the leading technological companies. These managed security services are dominated by Dell Secure Works, IBM, EMC, and HP companies. The leading players within the European managed security services market are AlienVault, Fortinet, Zscaler, Arbor Networks, IBM, BT, Juniper Networks, Checkpoint, KPN, Cisco, Lexsi, Counterpane, McAfee, CyberArk, Morpho (Safran), DearBytes, Orange, Deutsche Telekom, Palo Alto, EgoSecure, QSight IT, Ercom, Symantec, Telefonica, ThreatConnect, ForeScout and Trend Micro.

European Telcos are well established and offer robust MSS in their network connectivity, cloud infrastructure, and existing relationship with enterprises. Various European Telcos like BT, Telefonica, Orange, and Deutsche Telekom are commercializing on Managed Security Service MSS. These leading companies over the years either merged or acquired or partnering with many information security vendors to establish themselves in the European technological market. This trend has witnessed an increase in revenue in telcos and expansions in various sectors that are away from connectivity. Managed security services market in Europe is likely to boost significantly over the next few years due to easy installation and affordable maintenance cost. It was estimated there were increasing benefits that managed marketing services in Europe along with rising in awareness about MSS that has fuelled the European MSS market. However, the need for security of confidential information may hinder the growth of managed security services market over the next few years.

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