Global Managed Cyber Security Services Market to Reach $123 Billion by 2030
The global market for Managed Cyber Security Services estimated at US$44.9 Billion in the year 2023, is expected to reach US$123 Billion by 2030, growing at a CAGR of 15.5% over the analysis period 2023-2030. Identity & Access Management Application, one of the segments analyzed in the report, is expected to record a 17.9% CAGR and reach US$53.7 Billion by the end of the analysis period. Growth in the Risk & Compliance Management Application segment is estimated at 16.1% CAGR for the next 7-year period.
The U.S. Market is Estimated at $13.3 Billion, While China is Forecast to Grow at 14.2% CAGR
The Managed Cyber Security Services market in the U.S. is estimated at US$13.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$20.4 Billion by the year 2030 trailing a CAGR of 14.2% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 14.3% and 13% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 10.8% CAGR.
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