The Europe Managed Security Services Market is expected to witness market growth of 14.7% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe 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 $6.01 billion by 2031. The UK market is exhibiting a CAGR of 13.7% during 2024-2031. Additionally, the France market would experience a CAGR of 15.6% during 2024-2031.
Organizations often struggle to keep track of vulnerabilities within their systems. Managed security service (MSS) providers offer vulnerability assessments and management services, helping organizations identify weaknesses in their networks and applications, prioritize them based on risk, and implement effective remediation strategies.
Endpoint security has become paramount with the rise of remote work and BYOD (Bring Your Own Device) policies. MSS providers deliver endpoint protection solutions, including antivirus, anti-malware, and endpoint detection and response (EDR) capabilities, ensuring that all devices connected to the corporate network are secure. Regulatory requirements around data protection, such as GDPR, HIPAA, and PCI-DSS, necessitate ongoing compliance efforts.
The rise of cyberattacks in Europe has become a pressing concern, significantly impacting this market. Ransomware, in particular, has emerged as one of the most formidable threats, with over ten terabytes of data being stolen each month across the European Union. This alarming trend underscores the growing sophistication of cybercriminals and the urgent need for organizations to bolster their security measures.
As businesses grapple with the ramifications of these attacks, the demand for MSS is escalating as companies seek expert guidance and advanced solutions to protect their digital assets. Therefore, the rising incidence of cyberattacks in Europe catalyzes a shift in the cybersecurity landscape, positioning the managed security services market for significant expansion.
The Germany market dominated the Europe 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 $6.01 billion by 2031. The UK market is exhibiting a CAGR of 13.7% during 2024-2031. Additionally, the France market would experience a CAGR of 15.6% during 2024-2031.
Organizations often struggle to keep track of vulnerabilities within their systems. Managed security service (MSS) providers offer vulnerability assessments and management services, helping organizations identify weaknesses in their networks and applications, prioritize them based on risk, and implement effective remediation strategies.
Endpoint security has become paramount with the rise of remote work and BYOD (Bring Your Own Device) policies. MSS providers deliver endpoint protection solutions, including antivirus, anti-malware, and endpoint detection and response (EDR) capabilities, ensuring that all devices connected to the corporate network are secure. Regulatory requirements around data protection, such as GDPR, HIPAA, and PCI-DSS, necessitate ongoing compliance efforts.
The rise of cyberattacks in Europe has become a pressing concern, significantly impacting this market. Ransomware, in particular, has emerged as one of the most formidable threats, with over ten terabytes of data being stolen each month across the European Union. This alarming trend underscores the growing sophistication of cybercriminals and the urgent need for organizations to bolster their security measures.
As businesses grapple with the ramifications of these attacks, the demand for MSS is escalating as companies seek expert guidance and advanced solutions to protect their digital assets. Therefore, the rising incidence of cyberattacks in Europe catalyzes a shift in the cybersecurity landscape, positioning the managed security services market for significant expansion.
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
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
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. Europe Managed Security Services Market by Enterprise Size
Chapter 6. Europe Managed Security Services Market by Services
Chapter 7. Europe Managed Security Services Market by Security
Chapter 8. Europe Managed Security Services Market by Vertical
Chapter 9. Europe 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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