Top 10 Managed Security Services Companies | Cybersecurity Solutions

Tajammul Pangarkar
Tajammul Pangarkar

Updated · Oct 19, 2023

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Managed Security Services Market Overview

Managed Security Services (MSS) are comprehensive cybersecurity solutions offered by specialized third-party providers. These services protect organizations from constantly evolving cyber threats and vulnerabilities.

MSS typically includes continuous 24/7 monitoring, the detection and response to threats, management of vulnerabilities, and handling of security incidents. This allows businesses to delegate the complex and resource-intensive task of safeguarding their digital assets to experts in the cybersecurity field.

MSS providers use advanced technologies like machine learning and artificial intelligence to identify and address security risks proactively. This ensures that critical data and systems remain confidential, intact, and accessible. By entrusting their security needs to MSS providers, organizations can strengthen their cybersecurity defenses, adhere to industry regulations, and concentrate on their core business activities. This approach also reduces the burden of managing their security infrastructure.

Market Drivers

Cybersecurity Expertise Gap

A significant reason why organizations opt for managed security services is the shortage of cybersecurity expertise within their teams. The fast-changing landscape of cyber threats and the intricate nature of modern IT setups demand specialized skills and know-how to defend against them adequately.

Many organizations, particularly smaller ones, face limitations in terms of resources when it comes to recruiting and keeping a dedicated team of cybersecurity specialists. Managed security service providers address this knowledge gap by providing access to a pool of seasoned security professionals capable of efficiently monitoring, assessing, and handling security incidents.

Cost Efficiency and Scalability

Another significant driver is the cost-efficiency and scalability that MSS can offer. Building and maintaining an in-house security infrastructure, including security tools, hardware, and personnel, can be prohibitively expensive for many organizations. MSS providers typically operate on a subscription-based model, allowing businesses to access top-tier security services without the upfront capital investment.

Furthermore, as a company grows or its security needs change, MSS offerings can easily scale up or down, ensuring that organizations pay only for the level of protection they require at any given time. This scalability helps businesses adapt to evolving threats and organizational growth more effectively.

Market Size

The Global Managed Security Services (MSS) market size is estimated to reach USD 74.2 billion by 2032 from a value of USD 25.9 billion in 2022, with a compound annual growth rate (CAGR) of 11.40 % between 2023 and 2032.

List of Major Companies

 These are the top ten companies operating in the ERP Software Market:

IBM

Company Overview

Establishment Year1911
HeadquarterThe US
Key ManagementArvind Krishna (CEO)
Revenue (US$ Bn)$ 60.5 Billion (2022)
Headcount~ 288, 300 (2022)
Websitewww.ibm.com

About IBM

The International Business Machines Corporation (IBM) is a provider of a wide range of hardware and software solutions, ranging from computers and servers to storage and networking equipment. Additionally, the company offers consulting, technology, and business services, including cloud-based computing, data analytics, and Artificial Intelligence(AI).

The International Business Machines Corporation (IBM) is an American multinational technology company. The company was incorporated in 1911 and is based in Armonk (New York). The company was called the Computing- Tabulating and Recording Company (CTR). In 1924, the company changed its name to IBM. IBM is the biggest IT company in the world, operating in more than 170 countries.

Geographical Presence

IBM Corporation, one of the world’s leading technology and IT services companies, maintains a vast global presence with operations spanning more than 170 countries worldwide. Established in 1911, IBM’s headquarters are situated in Armonk, New York, USA, serving as the central hub for its global activities.

The company’s extensive geographical reach encompasses regional offices, research centers, data centers, and manufacturing facilities strategically located in key cities and regions throughout North America, Europe, Asia-Pacific, and other continents. IBM’s global footprint underscores its commitment to delivering a wide range of technology solutions, including cloud computing, artificial intelligence, and blockchain, to clients across various industries, making it a pivotal player in the global tech landscape.

Recent Developments

  • In September 2023, The IBM Payments Center joined the Swift Partner Programme, providing new collaboration opportunities with Swift members.
  • In September 2023, IBM Announced a three-year commitment to training two million individuals in Artificial Intelligence, with a particular emphasis on underrepresented communities.

Symantec

Company Overview

Establishment Year1982
HeadquarterThe US
Key ManagementVincent Pilette (CEO)
Revenue (US$ Bn)$ 5.8 Billion (2022)
Headcount~ 14,474 (2022)
Websitewww.broadcom.com

About Symantec

Symantec Corporation, established in 1982 by Gary Hendrix, is a prominent cybersecurity company headquartered in Mountain View, California, USA. Symantec provides various cybersecurity solutions and services, including antivirus software, endpoint protection, secure web gateways, and threat intelligence.

Over the decades, it has grown into a global leader in the cybersecurity industry, helping organizations and individuals safeguard their digital assets from a myriad of cyber threats, including malware, ransomware, and phishing attacks. Symantec’s commitment to innovation and security research has solidified its reputation as a trusted and influential player in cybersecurity.

Geographical Presence

Symantec, a leading cybersecurity company, has a significant global presence with offices and operations spanning various regions worldwide. While its headquarters are in Mountain View, California, USA, Symantec has established a broad geographical footprint with offices, data centers, and security experts strategically located in North America, Europe, Asia-Pacific, Latin America, and the Middle East.

This extensive global reach allows Symantec to provide cybersecurity solutions and managed security services to organizations and individuals worldwide, ensuring a widespread and effective response to the evolving cybersecurity challenges faced by its diverse clientele.

Recent Developments

  • In September 2022, Broadcom and Google Cloud joined forces to enhance Cybersecurity with the help of Gen AI. Symantec leverages global threat intelligence and Google Cloud’s gen AI capabilities to streamline threat assessment and protect against advanced cyberattacks.
  • In June 2023, Broadcom announced the availability of its second-generation Wi-Fi 802.11a/2.4 wireless connectivity chipsets, designed to facilitate the expansion of the market for next-generation smartphones and access point devices.

Accenture

Company Overview

Establishment Year1989
HeadquarterDublin, Ireland
Key ManagementJulie Sweet (CEO)
Revenue (US$ Bn)$ 62 Billion (2022)
Headcount~ 733,000 (2022)
Websitewww.accenture.com

About Accenture

Accenture is a multinational professional services firm founded in 1989 by Arthur E. Andersen and headquartered in Dublin, Ireland. It specializes in providing a wide range of services, including strategy, consulting, digital, technology, and operations, to assist clients in navigating the challenges of the digital age.

With a global presence in over 200 cities across more than 120 countries, Accenture helps organizations harness the power of technology and innovation to drive growth, improve efficiency, and enhance competitiveness in today’s rapidly evolving business landscape.

Geographical Presence

Accenture has a vast and extensive global geographical presence, with operations spanning more than 120 countries worldwide. This expansive footprint includes a strong presence in North America, Europe, Asia-Pacific, the Middle East, and Africa.

The company serves clients from various industries and sectors in major cities and regions, providing a diverse range of professional services, from strategy and consulting to digital transformation and technology solutions. Accenture’s global reach enables it to deliver innovative and tailored solutions to meet the unique needs and challenges of clients across a wide spectrum of geographies and markets.

Recent Developments

  • In September 2023, The world’s largest IT consulting firm, Accenture, invested in the artificial intelligence (AI) platform Writer to speed up enterprise adoption of Genome AI.
  • In August 2023, Accenture took on SIGNAL to expand its integrated marketing capabilities in Japan.

Deloitte

Company Overview

Establishment Year1845
HeadquarterBritain
Key ManagementJoe Ucuzoglu (CEO)
Revenue (US$ Bn)$ 59.3 Billion (2022)
Headcount~ 4,15,000(2022)
Websitewww2.deloitte.com

About Deloitte

Deloitte, founded by William Welch Deloitte in 1845, is a renowned global professional services firm headquartered in London, Britain. It is one of the “Big Four” accounting firms and provides a wide range of professional services, including audit and assurance, consulting, tax advisory, and risk advisory. With a history spanning over a century and a half, Deloitte has expanded its presence worldwide, establishing offices in over 150 countries.

The firm’s commitment to delivering innovative and value-driven solutions has made it a trusted advisor to numerous businesses, governments, and organizations, helping them navigate complex challenges, optimize performance, and achieve their strategic goals on a global scale.

Geographical Presence

Deloitte boasts a vast global presence, with offices and operations spanning more than 150 countries worldwide. The firm’s extensive geographical reach ensures that it can provide a comprehensive suite of professional services, including audit and assurance, consulting, tax advisory, and risk advisory, to a diverse clientele of businesses, governments, and organizations across the Americas, Europe, Asia-Pacific, the Middle East, and Africa.

Deloitte’s strategic network of professionals, industry expertise, and local market knowledge allows it to deliver tailored solutions that address the unique challenges and opportunities faced by clients in various regions, making it a leading and trusted advisor on a global scale.

Recent Developments

  • In October 2023: Deloitte launched the innovative ‘DARTbot’ Internal Chatbot.
  • In October 2023, Geotab expanded its market leadership by implementing a Deloitte alliance, providing significant scale and industry-wide reach.

AT&T

Company Overview

Establishment Year1885
HeadquarterThe US
Key Management John T. Stankey (CEO)
Revenue (US$ Bn)$ 120.74 Billion (2022)
Headcount~ 1, 60,700 (2022)
Websitewww.att.com

About AT&T

AT&T, established in 1983 after the original AT&T was divided, originates in the founding of the Bell Telephone Company by Alexander Graham Bell in 1877. The company is headquartered in Dallas, Texas, in the United States, and is a multinational telecommunications giant. It stands as one of the world’s largest telecommunications and media corporations, offering a broad spectrum of services that encompass wireless communication, internet access, television services, and digital entertainment.

AT&T’s presence extends across the Americas, Europe, the Asia-Pacific region, and the Middle East. It serves millions of consumers and businesses with innovative connectivity solutions. Additionally, AT&T has played a significant role in shaping the telecommunications and media landscape, notably through acquisitions such as WarnerMedia.

Geographical Presence

AT&T maintains a substantial global presence, offering its telecommunications and media services across various regions worldwide. Headquartered in Dallas, Texas, USA, AT&T’s expansive network extends throughout the Americas, covering North, Central, and South America. Beyond the Americas, AT&T has a presence in Europe, Asia-Pacific, and the Middle East, serving customers in various countries and territories.

This widespread geographic footprint enables AT&T to deliver a broad spectrum of services, including wireless communication, internet connectivity, television, and digital entertainment, to millions of consumers and businesses, contributing to its status as a prominent player in the global telecommunications and media industry.

Recent Developments

  • In September 2023, AT&T announced it was paying dividends on its common and preferred shares.
  • In June 2023, AT&T invested an estimated $42.5 billion to expand its fiber-optic coverage.

Verizon

Company Overview

Establishment Year2000
HeadquarterThe US
Key Management Hans Vestberg (CEO)
Revenue (US$ Bn)$ 136.8 Billion (2022)
Headcount~ 117,100 (2022)
Websitewww.verizon.com

About Verizon Communications

Verizon Communications, established as Bell Atlantic Corporation in 1983, can trace its origins back to the founding of the Bell Telephone Company by Alexander Graham Bell in 1877. The company is headquartered in New York City, USA, and is one of the world’s leading telecommunications and technology companies.

Verizon provides various services, including wireless communications, high-speed internet, digital television, and advanced technology solutions for consumers and businesses. With a presence in North America, Europe, Asia-Pacific, and the Middle East, Verizon has a substantial global reach, offering innovative and reliable connectivity solutions to millions of customers worldwide, while also driving advancements in telecommunications technology and digital transformation.

Geographical Presence

Verizon Communications has a significant global presence with operations and services that span multiple continents. While its corporate headquarters are in New York City, USA, Verizon primarily serves the North American market, including the United States and parts of Canada.

In addition to its North American operations, Verizon has a notable presence in Europe through its acquisition of various technology companies, providing services in countries such as the United Kingdom. While most of its operations remain centered in North America, Verizon’s influence in the global telecommunications and technology sectors is felt through its innovations and partnerships, contributing to the advancement of communication technologies worldwide.

Recent Developments

  • In October 2023, Verizon partnered with edX to speed up skills development for tech careers in demand.
  • In August 2023, Verizon unveiled a revolutionary new wireless freedom plan, the first of its kind in the United States, that allows customers to take control of their wireless experience.

Secureworks

Company Overview

Establishment Year1999
HeadquarterThe US
Key Management Wendy K. Thomas (CEO)
Revenue (US$ Bn)$ 276 Million (2022)
Headcount~ 2,149  2022)
Websitewww.secureworks.com

About Secureworks

Secureworks, founded in 1999, is a leading cybersecurity company headquartered in Atlanta, Georgia, USA. It specializes in providing comprehensive cybersecurity solutions to organizations globally. Established by Michael Pearson and Joan Wilkerson, Secureworks has evolved into a trusted partner in the fight against cyber threats.

The company offers a wide range of services, including managed security services, threat intelligence, and consulting, leveraging cutting-edge technology and a team of skilled security experts to protect its clients from an ever-evolving landscape of cyber risks. Secureworks plays a vital role in helping businesses safeguard their digital assets, detect and respond to security incidents, and maintain the integrity of their information systems in an increasingly interconnected world.

Geographical Presence

Secureworks has a global presence, delivering its cybersecurity services to organizations worldwide. While headquartered in Atlanta, Georgia, USA, the company has strategically established a strong geographical footprint. Secureworks serves clients across North America, Europe, Asia-Pacific, the Middle East, and Africa.

This extensive reach allows the company to offer tailored cybersecurity solutions to various businesses and industries, helping them protect against cyber threats, enhance their security posture, and respond effectively to security incidents. Secureworks’ commitment to global coverage ensures organizations worldwide can access its expertise and resources in the ongoing battle against cybersecurity threats.

Recent developments

  • In June 2023, SecureWorks Taegis managed XDR was recognized as one of the top five managed detection and response solutions assisting organizations in reducing cyber risk.
  • In May 2023, Secureworks achieved the highest possible scores in nine criteria in the managed detection and response analyst report.

Tata-Communication

Company Overview

Establishment Year1986
HeadquarterIndia
Key Management Amur Swaminathan Lakshminarayanan (CEO)
Revenue (US$ Bn)$ 563 Million (2022)
Headcount~ 13,436 (2022)
Websitewww.tatacommunications.com

About Tata Communications

Tata Communications, founded as VSNL (Videsh Sanchar Nigam Limited) in 1986, is a leading global telecommunications company headquartered in Mumbai, India. Established by the Indian government, it was later privatized and acquired by the Tata Group in 2002.

Tata Communications has since evolved into a major player in the telecommunications and technology sector, offering a comprehensive range of services, including Managed Security Services connectivity solutions, cloud services, and digital infrastructure. With a global presence spanning multiple continents, including North America, Europe, Asia-Pacific, and the Middle East, Tata Communications serves businesses and service providers worldwide, enabling them to connect, collaborate, and innovate in an increasingly digital and interconnected world.

Geographical Presence

Secureworks has a global presence, delivering its cybersecurity services to organizations worldwide. While headquartered in Atlanta, Georgia, USA, the company has Managed Security Services strategically and established a strong geographical footprint. Secureworks serves clients across North America, Europe, Asia-Pacific, the Middle East, and Africa.

This extensive reach allows the company to offer tailored cybersecurity solutions to various businesses and industries, helping them protect against cyber threats, enhance their security posture, and respond effectively to security incidents. Secureworks’ commitment to global coverage ensures organizations worldwide can access its expertise and resources in the ongoing battle against cybersecurity threats.

Recent Developments

  • In October 2023, Tata Communications acquired Kalyra, a prominent international provider of content-as-a-service platforms.
  • In August 2023, Tata Communications announced that the company is rolling out a new 5G Roaming lab worldwide in the cloud.

Wipro

Company Overview

Establishment Year1945
HeadquarterIndia
Key ManagementThierry Delaporte  (CEO)
Revenue (US$ Bn)$ 10,425 Billion (2022)
Headcount~ 240,000(2022)
Websitewww.wipro.com

About Wipro

Wipro, founded in 1945 by Mohamed Premji as Western India Vegetable Products Limited and headquartered in Bengaluru, India, is a prominent multinational corporation. It is a global leader in information technology, consulting, and business process services. Wipro provides a wide range of innovative solutions, including IT consulting, application development, infrastructure management, and business process outsourcing, to assist organizations in navigating the complexities of the digital age.

With a rich history of nearly eight decades, Wipro continues to be at the forefront of technological advancements, delivering tailored services that empower businesses worldwide to achieve their goals efficiently and effectively.

Geographical Presence

Wipro has established a robust worldwide presence, strategically situating offices and operations across six continents. In North America, it maintains a substantial footprint, with offices in the United States, Canada, and Mexico. In Europe, Managed Security Services in Wipro has a strong presence in countries like the United Kingdom, Germany, and France. Throughout the Asia-Pacific region, it holds a significant presence in India, Australia, Singapore, and numerous Southeast Asian countries.

Furthermore, Wipro extends its services to clients in the Middle East and Africa. This extensive global reach empowers Wipro to provide a diverse array of technology, consulting, and outsourcing services to clients hailing from various industries and geographic locations. This support aids these clients in their endeavors related to digital transformation and business expansion.

Recent Developments

  • In August 2023, Wipro opened the Center of Excellence on Generative AI at the IIT Delhi.
  • In July 2023, Wipro introduced AI360 in India, including a three-year investment plan of $1 billion. Notably, all of its 250,000 employees have received training in AI.

Atos

Company Overview

Establishment Year1997
HeadquarterNetherlands
Key ManagementNourdine Bihmane (CEO)
Revenue (US$ Bn)$ 11.3 Billion (2022)
Headcount~ 1,10,000(2022)
Websitewww.atos.net

About Atos

Atos is a multinational information technology services company founded in 1982 by Bernard Bourigeaud, headquartered in Bezons, France. It specializes in providing various digital services and solutions, including IT consulting, cybersecurity, cloud computing, and data analytics.

Atos serves clients across various industries and sectors, helping them harness the power of digital transformation to drive innovation, improve efficiency, and remain competitive in the ever-evolving digital landscape. With a global presence in over 70 countries and a commitment to delivering cutting-edge technology solutions, Atos is pivotal in enabling organizations to thrive in the digital era.

Geographical Presence

Atos has a comprehensive worldwide reach, with offices and operations spanning over 70 countries. In Europe, the Managed Security Services company maintains a strong presence, particularly in countries like France, Germany, the United Kingdom, and Spain. In North America, Atos is notably active in both the United States and Canada. Across the Asia-Pacific region, it conducts business in countries including India, Australia, Singapore, and China.

Additionally, Atos extends its services to clients in Latin America, the Middle East, and Africa. This extensive global presence positions Atos to provide a diverse range of digital services and technology solutions to clients from various industries and locations. It is crucial in supporting their global digital transformation and business growth initiatives.

Recent Developments

  • In April 2023, Atos launched Eviden brand ahead of €5 billion carve-out
  • In July 2022, Atos launched a Technology Consulting advisory portfolio for C-suite.
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Tajammul Pangarkar

Tajammul Pangarkar

Tajammul Pangarkar is a CMO at Prudour Pvt Ltd. Tajammul longstanding experience in the fields of mobile technology and industry research is often reflected in his insightful body of work. His interest lies in understanding tech trends, dissecting mobile applications, and raising general awareness of technical know-how. He frequently contributes to numerous industry-specific magazines and forums. When he’s not ruminating about various happenings in the tech world, he can usually be found indulging in his next favorite interest - table tennis.