Managed security services provide a balanced approach for maintaining compliance and ensuring a proactive security stance to an organisation’s information and other security needs.

A newly published report on the subject from Marketsandmarkets expects that the financial sector will show the fastest growth rate over the forecasted period, as the operating environment of this sector has changed significantly in terms of technological advancements and workflow processes in recent times. There has been continuous technological revolution in banks and financial institutions in the form of ATMs, core banking, e-banking, and mobile banking. As a result this sector of industry is facing unique challenges of increasing information security threats, and growing compliance requirements. Managed security services help the financial sector with service security solutions and technologies such as firewalls, intrusion detection systems (IDSs), virtual private networks (VPNs), and vulnerability assessment tools managed and monitored by skilled security professionals. Hence, the bank and other financial institutions are investing at a good rate in security services to maintain their competence.

In terms of geography, North America is expected to have the largest market size in the managed security services market mainly due to high spending on IT security with increase in advancements in technologies, such as cloud computing, big data, mobility services, and growing apps stores across the U.S. and Canada. This growth is further fostered by growing demand across small and medium enterprises in the region. North America is expected to have the largest market share, but it is the Asia-Pacific region that analysts cite as likely to grow with the highest CAGR from 2015 to 2020.

Researchers have provided a detailed analysis of the key industry players within the report to provide insights into their business overview, products and services, key strategies, and recent developments.