Market Insights Technology Cybersecurity Security Services

Managed Services - CIS

The Managed Services market in the CIS region is expected to witness significant growth in the coming years.
According to projections, the market's revenue is estimated to reach US$0.58bn by 2024.
Furthermore, it is anticipated that the market will exhibit a Compound Annual Growth Rate (CAGR 2024-2029) of 0.68%, resulting in a market volume of US$0.60bn by 2029.
In terms of expenditure, the average Spend per Employee in the Managed Services market is projected to reach US$5.01 in 2024.
This indicates the level of investment and resources allocated to the industry.
When considering global comparisons, it is noteworthy that United States is expected to generate the highest revenue in the Managed Services market, reaching US$10,260.0m in 2024.
This highlights the dominance and significance of the US market in this sector.
In the CIS market, there is a growing trend towards outsourcing IT infrastructure management through Managed Services, driven by the need for cost reduction and expertise.

Key regions: India, Germany, Canada, Europe, Belgium

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Methodology

Data coverage:

Data encompasses B2C, B2B and B2G enterprises. Figures are based on security spending excluding VAT and the number of cyberattacks.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial statements of the market-leading companies and industry associations, national statistical offices, and specific countries’ security organizations (e.g., German Cyber Security Council, Canadian Centre for Cyber Security). Furthermore, we use relevant key market indicators and data from country-specific associations, such as GDP and internet penetration. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. Possible techniques are, for example, exponential trend smoothing and the autoregressive integrated moving average (ARIMA) forecasting algorithm. The main drivers are GDP, internet users, level of digitization, and consumer attitude towards data and IT security.

Additional notes:

Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.