Interest in managed security services (MSS) solutions is set for steady growth over the next few years, as businesses around the world turn to third-party offerings to help them cope with the increasing demands of today's IT environment.
Figures from Research and Markets estimate that the global market for these solutions is set to increase at a compound annual growth rate of 11.3 per cent between 2014 and 2019.
It noted that in particular, demand for cloud-based services in on the rise, as this can offer businesses a number of benefits when it comes to protecting their valuable digital assets.
"Enterprises may have budget constraints and lack expertise and resources, which makes it difficult for them to manage standalone or integrated network components to address security concerns," Research and Markets stated. "Therefore, companies are increasingly opting for cost-effective cloud-based IT security."
Another key driver for the increasing adoption of MSS solutions is the rise of mobile within the enterprise - and in particular the use of bring your own device (BYOD) policies.
This is an especially key issue for businesses in the Middle East and Africa (MEA), as the region is rapidly embracing the trend. According to a report from MicroMarket Monitor, the MEA BYOD market is expected to grow from $11.1 billion in 2013 to $38.03 billion by 2019.
Research and Markets' report noted that small and medium-sized businesses are particularly likely to adopt BYOD solutions, in order to take advantage of the ability to work at any time, anywhere, as well as reducing their operational costs.
"However, these apps increase the likelihood of malware that may lead to loss of organisational data," it added. "Thus, the need for security solutions to securely manage business data, applications and services has evolved."