Rising Malicious Cyber-attacks to Propel Adoption of Managed Security Services in Government and BFSI Sectors in India
Managed security services (MSS) offer an organized approach for providing 24X7 monitoring, managing and consulting to organizations for addressing their security needs.
These services can be broadly categorized into perimeter protection MSS and access control MSS. Perimeter protection MSS include firewalls, email security gateways, network intrusion detection, host intrusion detection and unified threat management. Identity access MSS, on the other hand, include services like user provisioning, web access and managed identity. With increasing incidences of cyber-attacks, zero day attack, malicious malware, SYN flood, etc., India's managed security services market is forecast to witness double digit growth through 2019.
According to TechSci Research report "India Managed Security Services Market Forecast & Opportunities, 2019", the country's MSS market is estimated to touch USD251 million in 2014. Customer premises equipment model is currently dominating the market as organizations, especially in government, BFSI, transportation sectors, have adopted services offered under this model. However, over the next five years, cloud based model is expected to proliferate within small and medium enterprises of the country on account of increasing adoption of cloud services and rising number of remote offices. In addition, companies in India are increasingly embracing the Bring-Your-Own-Device concept, which is expected to further boost cloud-based managed security services market over the forecast period.
"Southern and western regions of the country represent high growth markets for managed security services on account of significant IT and industrial base in these regions. Rising incidences of security threats coupled with increasing capital expenditure on reinforcing in-house security solutions are forecast to augment the managed security services market over the next five years. In addition, many leading players in the market are increasingly offering customized security services to their clients, which is expected to set a new trend in the market over the next few years.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
Major international companies offering an array of managed security services in the country include Hewlett-Packard India Sales Pvt. Ltd., Cisco Systems (India) Private Limited, IBM India Private Limited, Symantec Corporation and AT&T Global Network Services India Private Ltd. Leading domestic players engaged in offering diverse managed security services in India include Tata Consultancy Services Limited and Wipro Limited.
"India Managed Security Services Market Forecast & Opportunities, 2019" has evaluated the future growth potential of managed security services market in India, and provides statistics and information on market structure, market trends, market size, etc. The report includes managed security services projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes emerging trends along with essential drivers, challenges and opportunities available in the managed security services market in India.