Argentina Managed Security Services Market Overview, 2029

Argentina Managed Security Services Market Overview, 2029

The managed security service (MSS) industry in Argentina has grown significantly in recent years, which is consistent with the larger worldwide trend towards more robust cybersecurity measures. This market includes a broad range of services targeted at safeguarding businesses from the ever-changing cyber threat environment. A mix of external monitoring and administration of security systems and equipment is provided by managed security services. Usually, these services are given by specialised businesses that provide an extensive array of solutions, including managed SIEM (Security Information and Event Management), intrusion detection, firewall management, and vulnerability testing. An important factor propelling the MSS market in Argentina is the increasing sophistication and frequency of cyberattacks. Businesses in a variety of industries, such as banking, healthcare, retail, and government, are realising how important it is to protect their infrastructure and data. Companies are being forced to implement strong security solutions as a result of this increased awareness as well as the growing legal obligations meant to secure sensitive information. Furthermore, Argentina's quick digital transformation and uptake of cloud-based services have led to new risks that managed security service providers can handle with ease. The lack of qualified cybersecurity specialists in Argentina has forced many businesses to look outside of the country for assistance, which is a disadvantage. This void is filled by managed security service companies, who frequently provide more affordable options than keeping an internal security team on staff by providing specialised training and 24-hour monitoring. Artificial intelligence and machine learning, two technological innovations that improve the capacity to anticipate and manage risks more effectively, are also advantageous to the MSS market in Argentina.

According to the research report ""Argentina Managed Security Service Market Overview, 2029,"" published by Bonafide Research, the Argentina Managed Security Service market is anticipated to grow at more than 14.2% CAGR from 2024 to 2029. There have been a number of significant recent developments in the Argentina MSS market. Remarkably, in an effort to capitalise on cutting-edge technology and worldwide best practices, local businesses and international cybersecurity providers have partnered and collaborated much more frequently. To improve their service offerings, local businesses are progressively using automated response systems and sophisticated threat intelligence platforms. To enhance threat detection and response times, MSS providers are increasingly integrating AI and machine learning into their products. The availability of managed security services to small and medium-sized businesses, who previously could not afford complete security solutions, is another significant development. Scalable and affordable MSS packages catered to smaller businesses' demands and budgets have made security services more accessible.

The Managed Security Services (MSS) market in Argentina is changing, with different sectors meeting different cybersecurity demands. Intrusion Prevention Systems (IPS) and Intrusion Detection Systems (IDS) are two popular service types. These technologies are essential for identifying and stopping harmful activity or unauthorised access within networks. Argentina is not an exception to the global proliferation of cyber dangers, which is driving up demand for IPS and IDS services. Organisations in Argentina are spending more in strong IPS and IDS solutions to protect their digital assets and sensitive data due to an increase in cyberattacks that target both public and private institutions.
Endpoint security is another essential element of MSS in Argentina. Endpoints are becoming easy targets for cyberattacks because of the rise in remote work and the usage of mobile devices. Endpoint security solutions are designed to guard individual devices, including desktops, laptops, and mobile phones, from malware, ransomware, and phishing scams. Endpoint security is becoming ever more crucial as cloud services and the Internet of Things (IoT) become more widely used. Because of this, there is a growing need for endpoint security services in Argentina as businesses emphasise protecting their remote workers and dispersed networks from changing cyberthreats. In Argentina's MSS market, distributed denial of service (DDoS) mitigation services are essential. Due to their ability to interfere with internet services and result in losses, DDoS assaults represent a serious risk to enterprises. Organisations in Argentina are actively searching for strong DDoS mitigation solutions to safeguard their online presence and guarantee continuous service delivery, given the country's growing reliance on digital platforms for company operations and consumer interaction. In the MSS market, services like Threat Management, Firewall Management, and Secured Information and Event Management (SIEM) are included in the ""Others"" category. The upkeep of a thorough cybersecurity posture and regulatory compliance depends on these services. The need for these specialist services is anticipated to increase in Argentina as businesses work to improve their security infrastructure and resistance to cyberattacks and as cybersecurity laws and threats become more complex. Of these subsectors, endpoint security is one that is expanding the fastest in Argentina. The rising popularity of remote work models, which is being fueled by the COVID-19 pandemic, labour preferences, and technology improvements, is one of the main causes of this increase. The attack surface grows as more workers operate from different places outside of conventional office settings, increasing endpoints' susceptibility to cyberattacks. Endpoint security services are growing in Argentina as a result of businesses prioritising investments in these solutions to safeguard their dispersed workforce and guarantee the confidentiality, integrity, and availability of their data and systems.

Large firms in Argentina are well-established businesses with substantial assets and wide-ranging activities. Because of their size and prominence, these organisations frequently have intricate IT systems and a greater risk profile. For them, customised solutions to safeguard their sensitive data, important assets, and priceless data are provided by managed security services. Large businesses in Argentina depend on managed security services to reduce risks, guarantee regulatory compliance, and preserve business continuity in the face of increasingly sophisticated cyberattacks. However, small and medium-sized enterprises (SMBs) account for a sizable share of the economy in Argentina, spurring employment and innovation. Small and medium-sized businesses (SMBs) have comparable cybersecurity issues to those faced by bigger corporations, but they frequently lack the means and know-how to resolve them successfully. With the help of managed security services, small and medium-sized businesses (SMBs) in Argentina may access cutting-edge cybersecurity technology and knowledge without having to make sizable upfront expenditures. SMBs may concentrate on their primary business operations while strengthening their entire cybersecurity posture to guard against changing threats by outsourcing their security needs to managed service providers.

There are two main options for the adoption of managed security services in Argentina: cloud-based and on-premise solutions.Security services that are provided via cloud platforms are referred to as cloud-based deployment. For companies of all sizes in Argentina, this strategy provides cost-effectiveness, scalability, and flexibility. Since cloud computing is becoming more and more popular in the nation, cloud-based managed security services offer quick access to cutting-edge security capabilities without requiring significant infrastructure expenditures. This strategy fits in nicely with the increasing trend of digital transformation among Argentine companies, allowing them to concentrate on their core competencies while safeguarding their systems and data from emerging cyber threats.In an on-premise deployment, security solutions are put into the infrastructure of the company. Many Argentine organisations still prefer on-premise security solutions despite the advent of cloud services because of current infrastructure expenditures, data sovereignty concerns, or regulatory restrictions. More control over data management and security standards is provided by this deployment strategy, which can be crucial for sectors like banking or healthcare that have stringent compliance regulations. However, compared to cloud-based options, it can need larger upfront hardware and maintenance expenditures. On-premise solutions, on the other hand, offer control and compliance adherence while cloud-based deployment gives flexibility and scalability. In Argentina, selecting one of these deployment options typically comes down to considerations like organisational preferences, data sensitivity, and legal compliance.

In Argentina, the use of managed security services is heavily reliant on the BFSI (Banking, Financial Services, and Insurance) industry. Because financial data is sensitive and cyber risks are becoming more common, BFSI companies place a high priority on strong security measures. To protect client data and financial transactions, this industry needs services including threat detection, data encryption, and compliance monitoring. An additional significant user of managed security services in Argentina is the IT/ITES (Information Technology/Information Technology Enabled Services) industry. IT/ITES businesses need comprehensive security solutions to safeguard their networks, apps, and sensitive data as the nation's technological landscape changes. The industry is predicted to have a steady increase in demand for managed security services due to the growing trend of digital transformation. The requirement to preserve patient data and adhere to strict privacy laws is what motivates the healthcare industry to choose managed security services. Cybersecurity issues are becoming widely recognised as a result of the rising digitalization of medical information and the increasing dependence on technology in the delivery of healthcare. Healthcare institutions in Argentina may reduce these risks and guarantee the integrity and confidentiality of patient data by utilising managed security services. The need for managed security services is also largely driven by the Argentine government sector. Sensitive information on citizens, public services, and national security is handled by government organisations. It is critical to safeguard this data against cyberattacks and guarantee the ongoing operation of government programmes. Managed security services help government organisations put strong cybersecurity safeguards in place and handle cyberattacks with efficiency. In addition to these important industries, managed security services are advantageous to other businesses in Argentina. Among them are the industries of manufacturing, retail, education, and telecommunications. Although every industry has different security needs, they all want to protect their digital assets and keep their operations resilient.

Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Managed Security Services market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Service Type
• IPS and IDS
• Endpoint security
• DDOS
• Others(Threat Management, Firewall Management, Secured Information and Event Management and Others )

By Organization Size
• Large Enterprise
• SMBs

By Deployment
• Cloud
• On Premise

By End User
• BFSI
• IT/ITES
• Healthcare
• Government
• Others

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Managed Security Services industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.