Global Automated Managed Security Market Size (2024 – 2030)

According to the report published by Virtue Market Research in Global Automated Managed Security Market was valued at USD 14.32 Billion and is projected to reach a market size of USD 44.02 Billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 17.4%.

Automated Managed Security entails the automatic identification, examination, and resolution of cyber threats. This is achieved through a specialized programmatic solution designed for this precise function, with the capability to operate either independently or with human involvement. Security automation operates by recognizing potential threats to an organization's security, categorizing and assessing them to assign priority levels, and subsequently systematically addressing them. This automated option removes the requirement to carry out security tasks individually, command by command. Moreover, there are modules available that offer support for a wide range of security providers.

Security automation encompasses various functionalities, including the identification of potential threats within an organization's environment. It involves enhancing, connecting, categorizing, and ranking alerts to speed up investigative processes. Additionally, predefined measures are applied to swiftly address and resolve concerns. Present-day security automation software can execute these tasks within seconds, often without necessitating the involvement of the security team. This eliminates their engagement in monotonous, labor-intensive, and time-consuming tasks. Furthermore, automated security systems play a pivotal role in accelerating the identification of threats. Human operators frequently contend with a barrage of security alerts, which can result in what is commonly referred to as "alert fatigue."

Managing numerous sophisticated corporate networks and software systems has become a challenge for organizations. To address this, they are turning to automated managed security service providers, entrusting them with the responsibility of maintaining cyber defense mechanisms. This safeguarding approach aims to shield an organization's digital assets against the ever-evolving landscape of security threats. Organizations opt for Automated Security Service Providers primarily due to a shortage of in-house resources or expertise in security matters. Additionally, the demand for continuous security management and monitoring outside standard business hours has contributed to this trend. By engaging these providers, organizations can concentrate on their core business activities while experiencing minimal disruption from security initiatives. These providers maintain an ongoing channel for reporting and communication, facilitating seamless interaction with organizations. The growth of the managed security services market is attributed to the escalating number of cyber threats and the susceptibility of organizations to cybercriminal activities.

Global Automated Managed Security Market Drivers:

Increasing Adoption of IoT and Cloud-based technology is fueling the growth of the Global Automated Managed Security Market

Industries are undergoing a transition towards adopting cloud technology, encompassing cloud security managed services. This shift is motivated by factors such as cost-effectiveness, extensive accessibility, the pay-as-you-go model, and enhanced performance offered by cloud solutions. However, this transition has introduced a range of challenges related to security incident management. The advent of the Internet of Things (IoT) has made industries that leverage IoT capabilities vulnerable targets for cyber attackers. This is due to the unique protocol challenges and diverse threat landscape presented by IoT-enabled industries. These factors will collectively accelerate the growth of the market.

The emergence of Automated Managed Security in the Government and Defense sector has also been contributing to the growth of the Market.

The progress of technology within the government and defense sector has exposed vulnerabilities to hacking and cyber threats. This has rendered countries susceptible to the unauthorized disclosure of sensitive, classified, and critical information to hostile nations or other malicious entities, posing a risk to national security. As a response, governments worldwide are channeling significant investments into fortifying security measures with cutting-edge systems. This strategic initiative is playing a pivotal role in propelling the expansion of the global automated managed security market.

Global Automated Managed Security Market Challenges:

The limited adoption of managed security services provided by third-party service providers is due to the lack of confidence among end-use customers. Various small-scale businesses and enterprises, often constrained by limited in-house security expertise or financial resources, frequently turn to third-party service providers to sustain their operations. However, embracing such managed security service providers means entrusting them with full authority over organizational data. The potential compromise of this data due to security breaches or vulnerabilities could inflict severe harm to a company's reputation. These collective factors collectively curtail the expansion of the global automated managed security market.

Global Automated Managed Security Market Opportunities:

As the frames of information technology continue to evolve, supplied by factors like heightened digitalization, the frequency of cyberattacks is also on the rise, demanding greater levels of protection. Consequently, organizations are actively seeking resilient security services that not only help cut costs but also enhance the overall safety of their operations. The demand for robust and economically efficient security services capable of round-the-clock monitoring and management of security incidents is projected to grow. This could potentially lead to the growth of the comprehensive services segment. Furthermore, the zero-trust approach is gaining momentum as an effective cybersecurity strategy on a global scale. This security framework operates on the principle of acknowledging potential breaches and validating the security posture of various aspects such as endpoints, networks, identities, and other resources. This validation is grounded in comprehensive data and signals analysis. Consequently, sustained investments in technology and the deployment of such strategic frameworks hold promising prospects for lucrative opportunities in the years ahead.

COVID-19 Impact on Global Automated Managed Security Market:

The outbreak of COVID-19 called for a substantial shift in business operations towards remote work arrangements. This shift had profound implications for both the demands placed on IT infrastructure and the potential attack points for cyber threats. The resultant strain on security teams was significant, as they had to navigate supporting not only regular IT operations but also rapidly adapting to evolving risks. This challenging scenario led many companies the adopt automated managed security services. This had a significant positive impact on the growth of the market. Moreover, there has been a noticeable upswing in investments directed toward the sector offering automated managed security services. This surge in investments can be attributed to companies' growing inclination to fortify their cyber resilience in anticipation of future challenges.

Global Automated Managed Security Market Recent Developments:

• In April 2023, IBM introduced a new security suite aimed at enhancing and streamlining the experience of security analysts throughout the entire incident lifecycle. This offering, known as the IBM Security QRadar Suite, marks a substantial advancement and expansion of the QRadar brand. It encompasses a comprehensive range of technologies for detecting, investigating, and responding to threats, with a notable emphasis on innovation across the entire portfolio.

• In November 2022, Open Systems, a prominent provider of next-generation managed detection and response (MDR) services, disclosed its acquisition of Tiberium. Tiberium, headquartered in the U.K., specializes in offering highly automated managed security services that are built on Microsoft security solutions. By incorporating Tiberium's sophisticated automation and collaborative capabilities, Open Systems aims to empower its customers to make more efficient risk assessments, decisions, and responses to cyber threats, thus significantly enhancing their ability to mitigate risks swiftly.

• In September 2022, Zscaler acquired ShiftRight, a company specializing in security workflow automation, in a deal whose specific financial details remain undisclosed. Through this acquisition, Zscaler's users of the Zero Trust Exchange cloud security platform gain access to ShiftRight's advanced workflow automation technology for managing security. This technology empowers users to automate their security workflows, effectively fortifying their defenses against cyber risks. Additionally, it enables them to expedite the detection and response times for security incidents.

AUTOMATED MANAGED SECURITY MARKET REPORT COVERAGE:

Global Automated Managed Security Market Segmentation: By Service Type

• Intrusion Detection & Prevention

• Incident Management

• Firewall Management

• End-point Security

• Vulnerability Management

• Others

Intrusion Detection & Prevention has dominated the segment by holding the largest market share and is poised to hold the position during the forecast period as it is the most important part of any managed security service to detect and prevent any threat. Multinational companies and governments have to most sensitive and classified information that requires utmost protection from any cyberattacks as it can pose a threat to any company or can be a matter of national security. Firewall management is the second fastest-growing segment and is anticipated to hold a major share in the coming years.

Global Automated Managed Security Market Segmentation: By Deployment Model

• On-Premise

• Cloud

The cloud deployment model is the most dominant segment and is estimated to grow with the highest CAGR in 2022. The expansion of this market can be attributed to a diverse range of factors. These include the rising acceptance of cloud-based services among enterprises, the increased prevalence of cloud deployment for data storage and management purposes, and the huge migration of workloads towards public or private cloud setups. The adoption of managed security services deployed through the cloud has gained significant traction due to its various advantages. These encompass reduced human involvement, continuous real-time monitoring, quicker identification of threats, and enhanced data protection, among other benefits.

Global Automated Managed Security Market Segmentation: By Enterprise Size

• Small & Medium Sized Enterprise

• Large Enterprise

The segment dominated by large enterprises holds the largest market share in 2022. This is attributed to the intricate and widely distributed nature of their IT infrastructure. Automated managed security services offer them the advantage of establishing secure and robust security programs, thereby instilling confidence in their preparedness against potential threats. Small and medium-sized enterprises (SMEs) are progressively on the rise. SMEs are increasingly becoming targets of various threats such as ransomware, phishing, and Denial-of-Service attacks due to the relatively uncomplicated nature of their security setups, which can be easier to breach.

Global Automated Managed Security Market Segmentation: By End-Users

• BFSI

• Government and Defense

• Healthcare & Lifesciences

• IT & Telecommunications

• Manufacturing

• Retail

• Others

BFSI is the most dominant segment with the largest share of market revenue in 2022 and is estimated to witness the fastest growth owing to the escalating occurrences of security breaches in banking and financial institutions, a pronounced need for data protection-focused security solutions, and a notable transition towards online banking services. Particularly within this sector, where sensitive data is extensively used, ensuring its confidentiality and overall security becomes a major concern. This factor contributes significantly to the increasing adoption of managed security services. Government and defense is also one of the fastest-growing markets after BFSI and is estimated to hold a significant revenue share during the forecast period.

Global Automated Managed Security Market Segmentation: By Region

• North America

• Europe

• Asia-Pacific

• South America

• Middle East & Africa

North America region emerged as the dominant contributor to the global Automated Managed Security Services market in 2022. This can be attributed to various factors including heightened investments in IT infrastructure security, an escalating reliance on cloud-based applications and services, and a surge in data breach incidents across various industries. The region's substantial investments in research and development by key market players, coupled with the increase in cybercriminal activities, the expanding adoption of digital banking services, and other pertinent elements, have collectively exerted a positive and consistent influence on the region's market growth trajectory over time.

Global Automated Managed Security Market Key Players:

1. IBM

2. Verizon

3. AT&T Inc.

4. Trustwave

5. McAfee

6. Secureworks

7. Tata Consultancy Service Ltd.

8. Broadcom Inc.

9. Accenture

10. NTT Security