Global IoT Managed Security Services (MSS) Market is expanding at a compound annual growth rate of CAGR of 18.5% during the projected period of time.

Ever-rising threat of cyber-attacks is observed as the most prominent factor promoting the demand for IoT security solutions. With consistently growing penetration of the concept of IoT, securing the millions of devices in the network has become highly crucial. Emergence of advanced concepts such as Internet of Things (IoT) along with virtual reality are also introducing new threats including IoT-based DDOS, ransomware, thus creating huge need for effective IoT security solutions. IoT MSS market is highly driven by the rising inclination towards cost-effective, scalable and flexible IoT security solutions. 

Global IoT MSS market is highly fragmented owing to the presence of large number of players with no single player having substantial market share. Majority of large vendors are interested in acquisition of small players to ensure optimum position in the IoT managed security services worldwide. This is seen as one of the highly adopted strategies in global IoT managed security services market. For instance, in September 2016, Greenwave Systems, Inc., managed services provider acquired Predixion Software, Inc., one of the leading companies in analytics for IoT, for an undisclosed amount. After acquisition, Greenwave Systems has seen significant growth for IoT managed security services coupled with real time data insights and analytics for internet of things. Companies are inclined towards providing customized managed security services including language support and data sovereignty. 

Based on industry verticals, IoT MSS market is segmented into BFSI, healthcare, Government, IT & telecom, retail & logistics, manufacturing, transportation and oil & gas. Amongst these, manufacturing industry holds the highest share in overall IoT managed security services market and is set to retain its dominance by 2026. On the other hand, healthcare and retail & logistics segments are set to demonstrate high growth over the forecast period. 

North America is dominates the global market for IoT managed security services, followed by Europe and Asia Pacific. Increasing adoption of smart connected devices, rapid digitization across industry verticals along with rising government investment in IoT are some of the factors responsible to make North America a leader in IoT MSS market. Increasing awareness of smart technologies among industry verticals along with the increasing investments in IoT security services are some of the factors expected to register rapid growth in IoT MSS market within the Asia Pacific region.   

Market Dynamics

Market Drivers

• Rising Adoption of Cloud Computing in Industrial Sector
• Growth in IoT
• Heady Automation and Industralization

Market Restraints

• Security and Privacy Issues
• Data Management

Key players identified in IoT managed security services market include but are not limited to:

IBM Corporation, Google, Inc., Hewlett Packard Enterprise Development LP, Apple Inc., Microsoft Corporation, Accenture Plc., AT&T, Inc., Cisco System, Inc., Intel Corporation and Qualcomm Technologies, Inc., Oracle Corporation among others.

Historical & Forecast Period

This study report represents analysis of each segment from 2023 to 2033 considering 2024 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2025 to 2033.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of IoT Managed Security Services (MSS) market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the IoT Managed Security Services (MSS) market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of IoT Managed Security Services (MSS) market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2033.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the IoT Managed Security Services (MSS) market?
• Which is the largest regional market for IoT Managed Security Services (MSS) market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving IoT Managed Security Services (MSS) market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the IoT Managed Security Services (MSS) market worldwide?