The Latin America, Middle East and Africa Managed Security Services Market is expected to witness market growth of 18.1% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Managed Security Services Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $1.83 billion by 2031. The Argentina market is showcasing a CAGR of 19.9% during 2024-2031. Additionally, the UAE market would register a CAGR of 17.1% during 2024-2031.
Organizations increasingly recognize the value of outsourcing non-core functions, such as security, to focus on their primary business objectives. Companies can redirect their resources toward growth and innovation by partnering with MSS providers. As businesses migrate to cloud environments, they encounter new security challenges. MSS providers offer tailored solutions to protect cloud infrastructures, ensuring that data remains secure regardless of where it resides.
This market is characterized by several emerging trends reshaping the landscape. Advanced technologies such as artificial intelligence (AI) and machine learning (ML) are being integrated into these services to enhance threat detection and response capabilities. These technologies enable MSS providers to analyze vast amounts of data and more effectively identify patterns indicative of potential threats.
The rising cybersecurity sector in Saudi Arabia is profoundly impacting the growth of the managed security services market. The cybersecurity sector in Saudi Arabia was valued at $3.6 billion in 2020 and is anticipated to expand at a remarkable rate of 17.98 percent, reaching an anticipated $9.8 billion by 2026, according to the ITA. This rapid growth indicates the increasing awareness of cybersecurity risks and the urgency for organizations across various sectors to implement robust security measures. The demand for MSS is anticipated to increase as businesses in Saudi Arabia continue to digitize their operations and adopt advanced technologies.
These services offer the specialized resources and expertise to guarantee regulatory compliance and safeguard sensitive data. This strategic investment reflects the UAE government’s commitment to enhancing healthcare services and infrastructure, making it a key priority sector within the nation’s broader Vision 2040 initiative. As the country aims to position itself as a regional hub for healthcare services, the demand for advanced security measures to protect sensitive patient data and healthcare systems is becoming increasingly critical. Therefore, the rising cybersecurity industry and increasing investment in the region’s healthcare sector drive growth.
The Brazil market dominated the LAMEA Managed Security Services Market by Country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $1.83 billion by 2031. The Argentina market is showcasing a CAGR of 19.9% during 2024-2031. Additionally, the UAE market would register a CAGR of 17.1% during 2024-2031.
Organizations increasingly recognize the value of outsourcing non-core functions, such as security, to focus on their primary business objectives. Companies can redirect their resources toward growth and innovation by partnering with MSS providers. As businesses migrate to cloud environments, they encounter new security challenges. MSS providers offer tailored solutions to protect cloud infrastructures, ensuring that data remains secure regardless of where it resides.
This market is characterized by several emerging trends reshaping the landscape. Advanced technologies such as artificial intelligence (AI) and machine learning (ML) are being integrated into these services to enhance threat detection and response capabilities. These technologies enable MSS providers to analyze vast amounts of data and more effectively identify patterns indicative of potential threats.
The rising cybersecurity sector in Saudi Arabia is profoundly impacting the growth of the managed security services market. The cybersecurity sector in Saudi Arabia was valued at $3.6 billion in 2020 and is anticipated to expand at a remarkable rate of 17.98 percent, reaching an anticipated $9.8 billion by 2026, according to the ITA. This rapid growth indicates the increasing awareness of cybersecurity risks and the urgency for organizations across various sectors to implement robust security measures. The demand for MSS is anticipated to increase as businesses in Saudi Arabia continue to digitize their operations and adopt advanced technologies.
These services offer the specialized resources and expertise to guarantee regulatory compliance and safeguard sensitive data. This strategic investment reflects the UAE government’s commitment to enhancing healthcare services and infrastructure, making it a key priority sector within the nation’s broader Vision 2040 initiative. As the country aims to position itself as a regional hub for healthcare services, the demand for advanced security measures to protect sensitive patient data and healthcare systems is becoming increasingly critical. Therefore, the rising cybersecurity industry and increasing investment in the region’s healthcare sector drive growth.
List of Key Companies Profiled
- IBM Corporation
- Cisco Systems, Inc.
- Check Point Software Technologies Ltd.
- Broadcom, Inc. (Symantec Corporation)
- Wipro Limited
- Verizon Communications, Inc.
- SecureWorks Corp. (Dell Technologies, Inc.)
- Accenture PLC
- BT Group plc
- SonicWall, Inc.
Market Report Segmentation
By Enterprise Size
- Large enterprises
- SMEs
By Services
- Managed UTM
- Managed SIEM
- Managed DDoS
- Managed XDR
- Managed IAM
- Managed Risk & Compliance
By Security
- Cloud Security
- Data Security
- End-point Security
- Network Security
- Other Security
By Vertical
- BFSI
- Healthcare
- Manufacturing
- IT & Telecommunications
- Retail
- Defense/Government
- Other Vertical
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. LAMEA Managed Security Services Market by Enterprise Size
Chapter 6. LAMEA Managed Security Services Market by Services
Chapter 7. LAMEA Managed Security Services Market by Security
Chapter 8. LAMEA Managed Security Services Market by Vertical
Chapter 9. LAMEA Managed Security Services Market by Country
Chapter 10. Company Profiles
Companies Mentioned
- IBM Corporation
- Cisco Systems, Inc.
- Check Point Software Technologies Ltd.
- Broadcom, Inc. (Symantec Corporation)
- Wipro Limited
- Verizon Communications, Inc.
- SecureWorks Corp. (Dell Technologies, Inc.)
- Accenture PLC
- BT Group plc
- SonicWall, Inc.
Methodology
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