Report: Managed Security Services Market to Hit 11% CAGR Through 2019

A new Research and Markets report predicts that the global managed security services market will climb in value from 2014 to 2019 at a compound annual growth rate of 11.3 percent.

The company said Monday the growth is due to increased demand for cloud services and adoption of bring-your-own-device practices, which have resulted in the need for security solutions to manage data and systems.

According to the report, the managed security services market will also face challenges in the areas of automation, scalability and professional expertise.

Research and Markets listed the following key vendors:

• AT&T
• Dell
• IBM
• Symantec
• Verizon