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Industry Landscape
The Managed IT Services and Cybersecurity industries are experiencing robust growth, driven by increasing digital transformation, the complexity of IT infrastructure, and the escalating threat landscape. Businesses, especially SMBs, are outsourcing IT to reduce costs and gain access to specialized expertise. Compliance requirements and the need for 24/7 security monitoring are key drivers, making proactive, subscription-based models highly sought after.
Total Assets Under Management (AUM)
Managed Services Market Size in United States
~$280 Billion
(13.6% CAGR)
- Driving factors: digital transformation, cloud adoption, cybersecurity threats.
- Growth in hybrid work models and complex IT environments.
- Increasing demand for specialized, proactive IT and security solutions.
Total Addressable Market
280 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Powered Cybersecurity
Artificial intelligence and machine learning are increasingly used to detect, analyze, and respond to cyber threats in real-time, enhancing proactive security measures.
Zero Trust Architecture (ZTA)
ZTA implements a 'never trust, always verify' approach, requiring strict identity verification for every user and device attempting to access network resources, regardless of location.
Hyperautomation in IT Operations
Hyperautomation combines advanced technologies like AI, ML, and RPA to automate complex IT processes, leading to increased efficiency, reduced human error, and faster service delivery.
Impactful Policy Frameworks
NIST Cybersecurity Framework 2.0 (2024)
NIST Cybersecurity Framework 2.0, released in 2024, expands its scope beyond critical infrastructure to all organizations, providing guidance for understanding, managing, and reducing cybersecurity risks.
This updated framework sets a new industry standard for cybersecurity practices, pushing businesses to adopt more comprehensive and integrated security measures.
California Privacy Rights Act (CPRA, 2023)
Effective January 1, 2023, the California Privacy Rights Act (CPRA) builds upon the CCPA, strengthening consumer data privacy rights and establishing the California Privacy Protection Agency (CPPA) to enforce its provisions.
The CPRA imposes stricter data handling and breach notification requirements, particularly impacting businesses managing personal information within California.
Health Sector Cybersecurity Act of 2024 (Proposed)
The proposed Health Sector Cybersecurity Act of 2024 aims to enhance cybersecurity within the healthcare industry by providing resources, promoting best practices, and facilitating information sharing to counter increasing cyber threats.
This legislation, if passed, will create new compliance mandates and incentivize healthcare organizations to invest more heavily in robust cybersecurity infrastructure and services.
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