Managed Security Service Market (CPE, Cloud/Hosted and Hybrid) to Reach USD 24.13 Billion by 2019, Globally: Transparency Market Research

Managed Security Service Market (CPE,Managed Security Service Market (CPE, Cloud/Hosted and Hybrid) to Reach USD 24.13 Billion by 2019, Globally: Transparency Market Research PR Newswire ALBANY, New York, December 2, 2013 According to a new market report, "Managed Security Services Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 - 2019," published by Transparency Market Research, the market was valued at USD 9,249.7 million in 2012 and is expected to reach USD 24,127.1 million by 2019 at a CAGR of 15.4% from 2013 - 2019. The market growth is driven by increased demand for applications such as 'network security' and 'confidentiality' services. Cloud-based managed security service is seen as an emerging market and is expected to drive market growth in the near future. Browse the full report with complete TOC at http://www.transparencymarketresearch.com/managed-security-services- market.html Industry verticals such as banking and finance services and insurance (BFSI), government and utilities, and telecom and IT, are seen as key demand drivers during the forecast period. Collectively, these segments accounted for 59.2% of the marker share in 2012. Due to fast growing demand from companies under the BFSI sector, this sector is expected to have highest market share throughout the forecast period. This is largely due to increase in incidences of frauds, payment defaults, and stringent regulations regarding GRC (governance, risk, and compliance).