London — The managed security services (MSS) market in Europe, Middle East and Africa (EMEA) is experiencing significant transformation. While new market entrants with network-based MSS propositions and remediation capabilities are disrupting the MSS provider (MSSP) landscape, mature technologies such as cloud migration, enterprise mobility, and always-on availability are boosting MSS adoption. These factors have stoked demand for expert security professionals, who are in short supply. Partly in response to this human resource crunch and the need to ensure compliance with Europe-wide General Data Protection Regulations (GDPR), businesses and public entities of all sizes are turning to MSSPs.
Frost & Sullivan's research, EMEA Managed Security Services Market, Forecast to 2021, finds that the market was valued at $4.27 billion in 2016 and is expected to reach $8.26 billion by 2021 at a compound annual growth rate (CAGR) of 14.1 percent during 2016 through 2021. The research analyses current market dynamics, external challenges, drivers, restraints, forecast and trends. Market share and competitive analysis of key players such as BT, Orange Cyberdefense, IBM, HP Enterprise, Atos, Telefonica, T-Systems, and Verizon are provided.
"Customers want solutions that solve problems, rather than mere alerts to a potential problem," said Frost & Sullivan Digital Transformation Research Director Adrian Drozd. "Therefore, MSSPs that offer consulting, professional and technical services could well outpace the overall market."
The key to longevity and success in an agile MSSP environment is staying ahead of the competition by:
Capturing the next wave of higher-value MSS. The two growth MSS segments in the next five years are threat intelligence, and research and detection services;
Growing the midsized market segment with the right pricing strategy;
Following a customer-centric approach by delivering solutions that meet evolving demands; and
Adopting technology-led approaches to service delivery, such as unburdening tedious tasks through automation and a collaborative solution approach.
"Although the media has extensively covered security breaches, many enterprises still believe that they will not be subject to targeted attacks and, hence, do not require protection against advanced threats," noted Drozd. "This approach to security has curtailed the adoption of MSS in the EMEA region - and is one that will doubtless change as the threat landscape evolves."
To access more information on this analysis, please click here.
EMEA Managed Security Services Market, Forecast to 2021 is part of Frost & Sullivan's Cyber Security Growth Partnership Service program.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion
EMEA Managed Security Services Market, Forecast to 2021MB25-74
Contact:Kristina MenzefrickeCorporate Communications - Frost & Sullivan, EuropeP: +44 (0)208 996 8589E: firstname.lastname@example.org://www.frost.com