Managed Security Services Market to grow at a CAGR of 15.2% during forecast period Managed identity and access management segment holds the largest share in global managed security services market Identity and access management (IAM) is a framework for business processes that facilitate the management of electronic or digital identities. The managed identity access management services are adopted by the large number of organizations. The adoption of cloud, mobility, BYOD, and IoT has given rise to the highly targeted and sophisticated cyber attacks. Hence, organizations adapt managed IAM services to prevent such cyber attacks. BFSI industry segment is estimated to lead global managed security services market BFSI holds the largest share in managed security services market. With the increase of cyber attacks, the financial sector faces the unprecedented challenge of data breaches and financial losses. Hence, this sector witnessed heavy investments on cyber security services and products. However, many organizations in this sector lack expertise to have an effective security strategy against the cyber attackers and rely on the managed security service providers. View Full Report @ https://convergedmarkets.com/managed-security-services-market-bytype-managed-iam-managed-firewall-managed-dlp-managed-ids-ips-managed-encryptionmanaged-siem-managed-utm-organization-size-deployment-and-vertical-glob SMEs segment is expected to witness an exponential growth in terms of managed security services SMEs are frequently targeted by cyber criminals due to vulnerable security capabilities and lack of in-house security expertise. SMEs invest into managed security services due to lack of resources to have efficient security strategies against cyber crimes. Managed security services are highly cost-effective and provide holistic approach towards organizations cyber security. Request For Report Sample @ https://convergedmarkets.com/request-report-sample Managed security service in Asia-Pacific is among fastest growing markets. The Asia-Pacific region experiences consistent and large number of cyber attacks in last few years. The ongoing digital transformation, adoption of cloud, high internet penetration, and adoption of smart phones is giving rise to new cyber threats. In addition, newly launched regulations and government initiatives against cyber crimes is expected to drive the growth of managed security services market. Inquiry Before Buying @ https://convergedmarkets.com/speak-to-analyst About Us Converged Markets is a premier provider of market intelligence and advisory services that delineates a focused vision to provide indispensable insights and strategic decision support to business leaders worldwide. Our team of knowledgeable and industry-experienced Business Consultants follows a distinct research approach and rigorous methodologies to analyze market dynamics that directly or indirectly impact mainstream businesses. Contact Us:Ms. Apurva, Business Development Manager, Converged Markets, Email: [email protected] USA :+1-858-800-4242 UK :+44-208-068-2033

The market is expected to reach USD 73.95 billion by 2025, growing at a CAGR of 15.2% during the forecast period.