Market Insights Technology Cybersecurity Security Services

Managed Services - Israel

Israel

The Managed Services market in Israel is expected to experience significant growth in the coming years.
According to projections, revenue is set to reach US$139.40m in 2024.
This growth is anticipated to continue at a steady pace, with an annual growth rate (CAGR 2024-2029) of 3.37%.
As a result, the market volume is estimated to reach US$164.50m by 2029.
When it comes to the average Spend per Employee in the Managed Services market, it is expected to reach US$30.91 in 2024.
This highlights the value placed on the services provided in this sector.
In a global comparison, it is worth noting that United States is projected to generate the highest revenue in the Managed Services market, with a staggering US$10,260.0m in 2024.
This showcases the dominance of the United States in this industry.
Overall, the Managed Services market in Israel is poised for growth and is anticipated to contribute significantly to the country's economy.
Israel's thriving tech ecosystem has made it a hotbed for Managed Services providers, with companies offering innovative solutions and top-notch expertise.

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

Market

Region

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Currency

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.