Managed security services are cybersecurity solutions for individual devices as well as large public and private networks. These services, which usually follow a consumption-based paradigm and are run by outside providers, offer security features like firewalls and real-time intrusion detection and analysis.
Morocco Managed Security Services Market Driving Factors and Challenges
Morocco's long-term political and economic agenda has encouraged the growth of businesses in important industries, such as healthcare, IT, banking, financial services, and insurance (BFSI), etc. This is coupled with the industry's acceptance of digital transformation, which has prompted the growth of digital procedures and data storage. The market for managed security services in Morocco has grown significantly as a result, driven by the growing demand for cybersecurity solutions due to the increasing digitalization of various industries.
Additionally, in 2022: the government enacted a new investment charter for both domestic and foreign investment with the goal of making the nation a hub for foreign direct investment (FDI) and minimising regional differences in investment attractiveness. For investment projects carried out in the regions or prefectures and the priority sectors of operations, this new charter establishes investment support mechanisms in the form of grants or subsidies. To encourage Moroccan businesses to have a global footprint, it also provides unique advantages to very small businesses (SMEs) and investment initiatives of a strategic nature. This is encouraging more companies to open up shop in the nation, which will help the market grow over the course of the projection period.
However, because managed security service providers like Accenture, IBM Corporation, and others deliver solutions built on cutting-edge technologies and tools to effectively defend against sophisticated threats, these security services come at a comparatively higher cost. Consequently, the Moroccan Managed Security Market suffers as a result of small businesses in the nation depending more on conventional internal security measures than on managed security services. The market's expansion will also be constrained by the underdeveloped and developing economies' lack of a competent labour force, their lack of technological know-how, and their mistrust of businesses handing over complete control of their system architecture to outside service providers. Furthermore, governments everywhere are creating a plethora of strict information security laws, which will further slow down the rate of market expansion.
Impact of COVID-19 on Morocco Managed Security Services Market
Due to the fast shift of organisations to remote work, which exposed vulnerabilities, the COVID-19 epidemic has increased demand in Morocco for Managed Security Services (MSS). Growing investments in MSS to protect sensitive data were triggered by growing cybersecurity threats. The need for MSS providers increased as a result of organisations looking for cutting-edge solutions to handle changing cyber threats. The pandemic hastened efforts to implement digital transformation, highlighting the significance of strong cybersecurity. To address the evolving needs, Moroccan MSS vendors modified their products and placed a stronger emphasis on threat detection and remote monitoring. Overall, COVID-19 shown how important MSS is to ensuring that firms remain resilient in the face of extraordinary obstacles.
Morocco Managed Security Services Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; AT&T, ATOS Group, Dataprotect, Fujitsu, IBM, NTT Data, Orange Cyberdefense, Secmentis, Thales Group, Others.
Morocco Managed Security Services Market Segmentation:
By Service Type: Based on the Service Type, Morocco Managed Security Services Market is segmented as; Managed DDoS (Distributed Denial of Service, Managed IAM (Identity and Access Management), Managed SIEM (Security Information and Event Management), Managed UTM (Unified Threat Management), Managed XDR (Extended Detection and Response), Others.
By Deployment Mode: Based on the Deployment Mode, Morocco Managed Security Services Market is segmented as; Cloud, On-Premise.
By Organization Size: Based on the Organization Size, Morocco Managed Security Services Market is segmented as; Small & Medium Enterprises, Large Enterprises.
By Service Provider: Based on the Service Provider, Morocco Managed Security Services Market is segmented as; IT Service Providers, Managed Security Specialist, Telecom Service Provider.
By Industry Vertical: Based on the Industry Vertical, Morocco Managed Security Services Market is segmented as; BFSI, Energy & Utilities, Government, Healthcare, IT & Telecom, Oil & Gas, Retail & E-Commerce, Others.
By Region: This research also includes data for Central Region, North Region, South Region.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.