Market Insights Technology Cybersecurity Security Services

Managed Services - Southern Asia

Southern Asia

The Managed Services market in Southern Asia is expected to see a significant increase in revenue.
In 2024, the projected revenue for this market segment is estimated to reach US$0.44bn.
Furthermore, it is anticipated that the revenue will continue to grow at an annual rate of 7.78% (CAGR 2024-2029), resulting in a market volume of US$0.64bn by 2029.
When it comes to the average Spend per Employee in the Managed Services market, it is projected to reach US$0.61 in 2024.
This indicates the amount of money spent on each employee within this sector.
In terms of global comparison, United States is expected to generate the highest revenue in the Managed Services market.
In 2024, it is estimated that United States will generate a revenue of US$10,260.0m.
This reflects the dominant position of the United States in this market segment.
In Southern Asia, the managed services market in India is experiencing significant growth due to the increasing adoption of cloud computing and digital transformation initiatives by businesses.

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

Market

Region

Region comparison

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.