With years of expertise, in-depth knowledge, and a wide range of technologies, security service support can monitor security threats, routinely update systems, and mitigate vulnerabilities at a low cost. In order to lower the risk of exposing data to unauthorised users, professional security services assist you in maintaining the appropriate security layers, including firewalls, DNS security, anti-malware, anti-phishing software, automated software patching, anti-malware software, password managers, identify and access management (IAM) tools, and more.
Covid-19 Impact & Market Status
As a result of the COVID-19 pandemic, many firms have put strict restrictions on remote work, but the number of cyberattacks on corporate data and equipment is rising. As the epidemic spread, businesses were forced to adopt a Work from Home (WFH) policy in conformity with laws in order to protect the safety of their employees. However, this operational choice has exposed the infrastructure to threats because insecure devices are being used more frequently to access cloud services. Threats to financial institutions, manufacturing facilities, educational institutions, and information technology companies all call for new security delivery strategies.
Service Type Outlook
Based on Service Type, the market is segmented into (Vulnerability Analysis, Gap Analysis, Risk analysis of a process, Data Recovery, Pen testing, Virtual Platform Training). In 2020, the market's segment for information security outsourcing services saw a considerable increase in revenue. Due to the expanding danger landscape and the difficulties in internally controlling all aspect of the cyber threat scenario, organisations are collaborating with information security outsourcing service providers. Partnering with the give’s businesses access to cutting-edge security solutions, as well as problem-solving and security expertise, and supports real-time threat monitoring.
The market is divided into two categories: Government and Enterprise. Enterprise customers made up a sizable portion of the market for information security outsourcing services in terms of revenue in 2020. Cybersecurity is used in the enterprise sector to spot data thefts that compromise IT systems by accessing crucial data through malware, spyware, or phishing. Cybersecurity solutions allow businesses in the sector to identify, monitor, report, and defend against cyberattacks while ensuring the confidentiality of information systems. The market for cybersecurity is primarily driven by the expanding use of cloud-based security solutions and the rising risk of data loss.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. The Asia Pacific region's market for information security outsourcing services obtained a promising revenue share. Due to the significant efforts being made to safeguard networks and identify vulnerabilities, the regional market is anticipated to grow.
Organizations face sophisticated and numerous threats on a daily basis, which increases the need for cybersecurity. The issues of protecting assets are more difficult and demand more resources as a result of roaming customers having access to the network and data from anywhere. Organizations are turning to managed security services providers (MSSPs) and other vendors for the outsourcing of a variety of security operations to assist address some of these issues.
When compared to internal security solutions, outsourcing security services is significantly more cost-effective when considering the costs of risk analysis, threat modelling, security software, appliances, and equipment. Support for security services is backed by years of expertise, understanding, and an Outsourced security experts have encountered a lot more potential security flaws than your in-house security staff because they have more varied and qualified experience. The fact that they bring more experience is, in a nutshell, the main advantage. They will therefore probably be more watchful and receptive to potential future security threats.
The cost-effective solution is to outsource cybersecurity. The chance of a data breach occurring within your organisation can be decreased by assembling a team of experts who are knowledgeable in various aspects of cybersecurity. However, building an internal cybersecurity team and keeping it up and running can be quite expensive and this has increased the demand for information security outsourcing service.
An effective IT outsourcing company will have the necessary talent and assets to launch and manage new projects right away. When managing and delivering the same project internally, it may take some time to find the suitable candidates, educate them, and provide the necessary hardware and software support. Outsourced IT services, however, come with years of expertise and knowledge in a range of tasks. As a result, you can begin the job without much effort and save time and money.
At a CAGR of 11.1%, the market for information security outsourcing services is anticipated to reach $221.43 billion by 2029.
In general, the practise of contracting with outside vendors to offer services and solutions that aid in securing a company's computer networks and data is referred to as outsourcing cyber security. This setup could consist of an internal security team, a third-party security team, or a combination of the two.
The greatest option for a project with a limited duration is to outsource it to an outside IT team. On the other hand, it is also preferable to outsource if a job demands a lot of attention and time. Every organization's IT team has a tremendous amount of work on their hands. Therefore, outsourcing would be a more feasible approach than overburdening them. Your internal IT team will receive the support they need to operate at peak efficiency and produce results consistent with the company's objectives from an external team of knowledgeable experts.
Some of the challenges of Information security outsourcing service are Inexperienced Staff, solution to this problem is when you choose to use outsourced IT services, you have little to no control over the team members that look after your account. Verifying the competence and experience of the outsourced IT company as a whole is more crucial. Read internet reviews, make calls to references, and look for case studies. Another problem is Hidden costs so make sure that you read your contract carefully.
Cisco Systems, Trend Micro, Check Point Software Technologies, IBM Corporation, Microsoft, Oracle, Cyber Ark Software Ltd., ProofPoint Inc., Micro Focus, FireEye Inc., Imperva Inc., RSA Security, Sophos, Cognizant, Tata Consultancy Services, Accenture, Splunk, Capgemini, Wipro Limited, Dell Technologies Inc., AVG Technologies NV, HCL Technologies Limited, Qualys, and Intel Security (Intel Corporation) are major players in the Information Security Outsourcing Service Market.
Latest Innovations in the Global Information Security Outsourcing Service Market: A Snapshot
- An American multinational technology giant corporation Cisco and AT&T partnered. The goal of this partnership was to create a new managed SASE service that would make it easier for companies to give customers access to any application from anywhere at any time in a highly secure manner.
- IBM and Du, Emirates Integrated Telecommunications Company, joined forces. Under the terms of this collaboration, Du would make use of IBM's security tools and solutions across its Digital Trust portfolio and its Cyber Defense Center.
- Managed Detection and Response for media was made available by Atos. This service would combat the theft of audio and video assets and safeguard businesses from specific cyberthreats.
Information Security Outsourcing Service Market Scope
|Revenue forecast in 2029
|USD 221.43 billion
|CAGR of 11.1 % during 2019-2029
|Type, Application, Regions
|North America, Europe, Asia Pacific, Middle East and Africa, South America
|Key Players Profiled
|Cisco Systems, Trend Micro, Check Point Software Technologies, IBM Corporation, Microsoft, Oracle, Cyber Ark Software Ltd., ProofPoint Inc., Micro Focus, FireEye Inc., Imperva Inc., RSA Security
Key Segments of the Global Information Security Outsourcing Service Market
Type Overview (USD Billion)
- Pen testing
- Gap Analysis
- Data Recovery
- Vulnerability Analysis
- Risk analysis of a process
- Virtual Platform Training
Application Overview (USD Billion)
Regional Overview (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa