Managed Security Services, Professional Services to Top $35B

Escalating cybersecurity threats and a shortage of in-house talent are driving double-digit growth rates in the managed security services and professional security services market.

Market research firm Frost & Sullivan expects the global market to expand from $21 billion in 2018 to $35.6 billion in 2023, growing at a 11.1% compound annual growth rate. The top five providers are already experiencing even higher growth. Accenture, Deloitte, EY, IBM and PwC — a group which accounts for 42% of the global market — grew 27.6% year-over-year in 2018, according to Frost & Sullivan.

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