INDUSTRIES

&

MARKETSSecurity

Services:

market

data&

analysisMarket

InsightsreportNovember2023MARKET

INSIGHTSThis

report

is

part

ofour

Market

Insights

productGainabetterunderstandingofmarketsacross190+

geographicalentities

–

onaglobal,

regional,country,

and/orstatelevel.

Accessourdatavia

webinterface,download(XLS,

PDF,PPT),or

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10

sectors:

advertising&media,consumers,countries,digital

sector,finance,health,

industrialsector,mobility,andtechnology?

1,000+

markets,

e.g.,

FinTech,Food,or

Robotics?

KPIs,

e.g.,

revenue,marketshares,prices,andvolume?

Features:Compare

countries®ions,

change

currencies,

selectvisualizations,

and/or

customize

downloads?

Usecases:

sales

planning,

investment

decision

support,resourceallocation,andportfolio

management10sectors190+geographicalentities1,000+markets400+reportsFind

out

more

on:https://www.Goto

Market

Insightscom/outlook/2MARKET

INSIGHTSMarket

Insights

–

market

data,forecasts,

and

qualitative

insightsThe

SecurityServicesmarket

ispartoftheCybersecuritymarket.10sectors190+geographicalentities1,000+markets400+reportsGoto

CybersecurityFind

out

more

on:Cybersecuritymarket3Table

of

ContentsOverviewAppendixSummary678Product

OverviewAuthor1920MarketDefinitionKeyTakeawaysMarket

NumbersRevenue10131617AverageSpendper

EmployeeCompanyrevenuesBrandshare4CHAPTER

1OverviewThe

Security

Services

provide

a

layer

of

security

systems

to

ensure

thatorganizations

are

adequately

securedOverview:

SummarySummaryDriven

bythedevelopment

ofdigitaltechnologies

suchas

the

Internet

ofThings,data

pooling,

and

AI,company

processes

were

automated,andmore

oftheirinfrastructures

were

reliant

on

ITsystems.

Asmore

processes

were

donedigitally,hackers

had

more

opportunities

tosteal

company

information.

Especially

duringtheCOVID-19

pandemic,when

manyindustries

rushed

to

find

solutions

fortheiremployees

to

work

remotely,

data

vulnerabilities

were

exposed

thatledtomalicious

activitiesintheform

of

phishing,

malware,

and

ransomware.TheSecurity

Services

segment

accounted

for53%

oftheCybersecurity

revenue

in2023

and

is

thelargest

segment

oftheCybersecurity

market.

With

US$85.5

billionin2023,

theSecurity

Services

segment

isexpected

to

reach

US$114.7

billion

by2028.Inaddition,there

aredifferent

typesof

cyberattacks,andtoprevent

themfromdamagingcompany

operations,

core

businesses,

and

employees,

each

securityservice

requires

adifferent

approach.

Thiscomplexity

hasspedupthedevelopment

ofcybersecurity

services,

which

includeoverarching

processes,

suchasdesign

andintegration,consulting,implementation,

risk,andthreatassessment,

aswell

asprofessional

trainingand

education.

By

providing

acomprehensive

security

strategy,

these

services

help

to

protect

companiesagainstcommon

cybercrimes.6Sources:Market

Insights

2023Security

Services

is

an

important

part

of

the

Cybersecurity

marketOverview:

Market

DefinitionMarket

definitionSecurityservices

refer

to

anoverarching

processing

or

awide

rangeofservicesthat

enhance

anorganization’s

protection

and

security

strategyagainstcommoncybercrimes,

suchasphishing,

malware,

or

ransomware.

These

services

includedesign

and

integration,

consulting,implementation,

risk

andthreatassessment,aswell

asprofessional

trainingand

education.

TheSecurity

Services

marketincludesrevenues

generated

byitstwo

key

products,managed

services

andprofessional

services.spend

peremployee,

alistof

the

key

playersinthemarket,

aswell

astheirconsolidated

revenues

and

market

shares.

Market

valuesrepresent

revenues

thataregenerated

byprimary

vendors,

either

directly

or

through

distributionchannels(manufacturerprices,

excluding

VAT).Reported

market

revenues

includeconsumer

spending(B2C),businessspending

(B2B),

and

government

spending(B2G).Key

players

inthe

market

includePaloAlto,Capgemini,and

CrowdStrike

Holdings.?

Managed

services

refer

toarangeof

productsor

services

designed

forthespecific

cybersecurity

requirements

oforganizations,

effectively

alignedwiththeir

risk

landscapeand

security

strategies.?

Professional

services

are

abroad

category

of

services

thatimprove

anorganization's

defense

and

security

plan

againstprevalent

cybercrimes

likephishing,

malware,

and

ransomware.TheSecurity

Services

market

comprises

revenues,

revenue

change,average7Sources:Market

Insights

2023Security

Servicesaccounted

for

52.93%

of

the

Cybersecurity

market

revenue

in2023Overview:

Key

Takeaways

and

inscope

/outof

scopeKeyTakeawaysInscopeOutof

scopeRevenue

intheSecurity

Services

market

is

projected

toreach

US$87.97bn

in2023.Thismarket

includes:Thismarket

excludes:Revenue

is

expected

toshow

anannualgrowth

rate(CAGR2023-2028)

of

5.45%,resulting

inamarket

volume

of

US$114.70bn

by2028.?Managed

security

services?Security

outsourcing?Consulting?HardwareTheaverage

Spend

perEmployee

inthe

Security

Services

market

isprojected

toreach

US$25.27

in2023.?Supportor

maintenance

ofcompany-owned

software

productsInglobalcomparison,

most

revenue

will

begenerated

intheUnitedStates(US$39,780.0m

in2023).?Security

planning

andtraining8Sources:Market

Insights

2023CHAPTER

2Market

NumbersSecurity

Services

revenues

are

estimated

to

increase

at

a

CAGR(1)

of

6.6%

from2016

to

2028Market

Size:

GlobalRevenue

forecast

inbillionUS$114.75109.0626.22103.4825.60+6.6%(1)82.5698.1024.9026.7292.9124.1087.9823.2178.2520.9171.1920.2568.5519.3822.0662.7917.0956.0013.7053.4612.6888.03202882.84202777.88202673.20202568.81202464.77202360.50202257.34202149.17201950.94202045.70201840.78201642.302017Professional

ServicesManaged

Services10

Notes:Sources:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023With

revenue

of

US$

45.5

billion,

the

Americas

is

the

biggest

market

amongselected

regions

in

2023Market

Size:

Regional

Comparison

(1/2)Revenue

forecast

inbillionUS$+5.1%(1)58.2845.47+5.4%(1)+6.6%(1)28.8723.1422.2216.812023+4.4%(1)+6.7%(1)3.052.461.011.40202320282023202820232028202820232028EuropeAfricaAmericasAsiaAustralia&Oceania11

Notes:Sources:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023With

revenue

of

US$

39.8

billion,

the

United

States

is

the

biggest

market

amongselected

countries

in

2023Market

Size:

Regional

Comparison

(2/2)Revenue

forecast

inbillionUS$+5.0%(1)50.8439.78+7.1%(1)+4.7%(1)+8.0%(1)+4.6%(1)7.766.646.305.515.284.284.553.642023202820232028202320282023202820232028United

StatesUnited

KingdomJapanChinaGermany12

Notes:Sources:(1)

CAGR:

Compound

Annual

GrowthRateMarket

Insights

2023Security

Services

average

spend

per

employee

are

estimated

to

increase

from2016

to

2028Market

Size:

GlobalAveragespend

peremployeeforecast

inUS$24.6225201510523.1121.8820.7219.6218.6017.5116.736.1014.985.9614.595.7513.6912.8012.473.887.327.477.057.196.876.676.395.124.1502016201720182019202020212022202320242025202620272028ManagedServicesProfessional

Services13Sources:Market

Insights

2023Australia

&

Oceania

has

the

biggest

market

in

Security

Services

average

spendper

employee

in

2028Market

Size:

Regional

Comparison

(1/2)Averagespend

peremployeeforecast

inUS$147.70112.6315010050140.43107.09135.16102.74130.2298.39125.2894.34123.8190.43122.57118.32100.0172.6645.2896.7070.6643.7592.3585.7185.2051.3880.2557.4334.5478.5650.5372.9330.3469.1528.0465.6864.4341.0562.1458.8336.0258.5955.0126.2224.4422.722.1721.152.0919.412.0319.802.1116.941.8617.771.8415.441.7712.991.5713.781.602.262.352.472.5902016201720182019202020212022202320242025202620272028AfricaAsiaEuropeAmericasAustralia&Oceania14Sources:Market

Insights

2023With

average

spend

per

employee

of

US$

236.1,

the

United

States

is

the

biggestmarket

among

selected

countries

in

2023Market

Size:

Regional

Comparison

(2/2)Averagespend

peremployeeforecast

inUS$297.3030025020015010050283.37203.92270.42191.52258.26179.41246.92168.18236.14221.80149.83218.07203.91148.09189.02181.31128.79163.53121.23155.6283.97147.62107.05144.38109.40131.1876.92108.36100.40103.4696.0593.7691.5981.8278.0373.1173.9366.7661.1562.0886.8399.0988.4478.2478.1677.9969.3373.1265.8457.8755.166.967.548.264.764.965.385.896.412.642.863.413.794.0702016201720182019202020212022202320242025202620272028ChinaJapanGermanyUnitedKingdomUnitedStates15Sources:Market

Insights

2023Revenues

of

the

top

companies

in

the

Security

Services

market

(worldwide

&consolidated)FurtherMarket

AnalysisCompany

revenues

inbillionUS$Company20182019202020212022Capgemini15.591.994815.811.8518.082.1721.4924.6Check

PointCisco49.349.822.5951.563.34Fortinet1.82.164.42International

Business

MachinesPaloAltoNetworksRaytheon

Technologies79.142.955.183.4157.351.7660.535.566.545.3556.5964.3967.0716Sources:Market

Insights

2023In

2023,

Microsoft

had

the

highest

share

in

Security

ServicesFurtherMarket

AnalysisBrand

share

in

202317Sources:Market

Insights

2023CHAPTER

3AppendixMARKET

INSIGHTSMarket

Insights

–

market

data,forecasts,

and

qualitative

insightsGainabetterunderstandingofmarketsacross190+

geographicalentities

–

onaglobal,regional,country,

and/orstatelevel.Access

ourdatavia

web

interface,

download(XLS,

PDF,PPT),

orreports.Benefitfromour

48-hour

customerservice

guarantee.?

10

sectors:

advertising&media,con