Cyber Security Managed Services Market to Increase Gradually with a CAGR of 11.0% with Market Valuation Reaching USD 32.68 Billion by 2030, Implementation of Zero Trust Strategies to Propel Market Growth

The global cyber security managed services market size is estimated to display strong growth by reaching USD 32.68 billion by 2030 with a CAGR of 11.0% during the forecast period. Fortune Business Insights™ in its report titled “Cyber Security Managed Services Market Size, Share & COVID-19 Impact Analysis, By Service (Managed Detection and Response (MDR), Incident Management, Managed Vulnerability, Identity and Access Solutions, and Others (End Point Management and Data Encryption)), By Enterprise Type (Small & Medium Size Enterprise and Large Enterprise), By Industry (BFSI, IT & Telecom, Retail, Healthcare, Government, Manufacturing, Travel & Transportation, Energy and Utilities, and Others), and Regional Forecasts, 2023-2030” observes that the market size in 2022 stood at USD 14.48 billion and is expected to reach USD 15.78 billion in 2023. Cyber security managed services offer various services such as detection and response, incident management, managed vulnerability, identity, and access solutions. It reviews structured and unstructured databases and finds the information on hidden patterns, correlation, and fluctuating trends in the market. There is a shift toward security services to increase protection by deployment of security gateways over the cloud or on-premise infrastructure.

Tata Consultancy Services (TCS) Collaborated with Bane NOR to Secure Access to Digital Systems

In April 2023, Tata Consultancy Services (TCS) collaborated with Bane NOR for secure access to digital systems. TCS teams will deliver access management, Identity Governance, and Administration (IGA), identity lifecycle management, and application management operations in a managed services model across Norway and Europe. This model will be used for better user experience and enable risk & compliance-driven access controls across its infrastructure. This collaboration is set to create enhanced experiences for customers.

Rise in the Number of Investments Increased the Inclination of Companies to Tackle Cyber Attacks

The pandemic led the companies to choose cyber security managed services, which positively impacted the demand for these services. Traditional cyber security services are not able to distress these attacks. MSSPs enhanced their security services to minimize these attacks and improve the resilience of organizations. Rise in the number of investments has increased the inclination of companies to tackle cyber attacks. In March 2020, K7 Computing provided its cyber security products free-of-cost in security protections for consumers and organizations.

Employment of Managed Cyber Security Services by Organizations to Drive Market Growth

Implementation of zero trust strategies is predicted to drive the market growth. Zero Trust has been an effective strategy as it accepts the breaches and validates the security status of the endpoint, network, identity, and other resources. New and developing strategies have led to the prevention and detection of attacks using large datasets and behavior analytics. Companies have been using this model and it has been effective owing to its benefits. Organizations employ managed cyber security services to mitigate the threat landscape to protect an organization from potential harm.

However, cyber security threats have increased, and Small & Medium-Sized Businesses (SMBs) have become easy targets due to lack of awareness and resources, which is hampering the market growth.

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Key Market Players are Focusing on Increasing Market Share and Customer Reach through Strategic Acquisitions

BDO Global, Atos SE, Wipro, Secureworks, Inc., IBM Corporation, Tata Consultancy Services Limited, and Trustwave Holdings, Inc. are the key players of cyber security managed services. They have been focusing on offering specific solutions and services to attract a large customer base. They have been focusing on increasing market share and customer reach through strategic acquisitions

Notable Industry Development

• May 2023: Claroty Ltd. in collaboration with IBM Corp., eSentire Inc, and NTT Data Corp. announced the expansion of its FOCUS Partner Program. The program is designed to provide tools, skills, and processes to operate across the enterprise security services lifecycle.

List of Key Companies Profiled in the Report:

• BDO Global (Belgium)


• Secureworks, Inc. (U.S.)


• Atos SE (France)


• Wipro (India)


• IBM Corporation (U.S.)


• Tata Consultancy Services Limited (India)


• Trustwave Holdings, Inc. (U.S.)


• Thrive (U.S.)


• SecurityHQ (India)


• ECI (U.S.)


• Check Point Software Technologies Ltd. (Israel)

Further Report Findings

• North America led the global cyber security managed services market share in 2022 with the integration of machine learning and artificial intelligence capabilities in managed services. AI helps in offering enhanced insights and providing additional insights. The region was valued at USD 6.27 billion in 2022.


• The Asia Pacific market is anticipated to have exceptional CAGR due to the adoption of MSS and shared services across verticals and industries for partial or complete workloads.

Table of Segmentation