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markets, the maritime security
market is estimated to grow from
$13.94 billion in 2014 to $20.87
billion in 2019. This represents a
Compound Annual Growth Rate
(CAGR) of 8.4% from 2014 to
2019. The vessel security segment
continues to be the largest con-
tributor for maritime security. In
terms of regions, NA is expected
to be the biggest market in terms
of revenue contribution in 2014,
whereas APAC is expected to
experience increased market trac-
tion, in due course.
Some of the products which
are gaining traction and invest-
ment from various vendors are
managed services, monitored or
managed firewalls or IPSs, moni-
tored or managed IDSs, DDoS
protection, managed SWG, log
management, analysis and report-
ing, SIEM, managed vulnerabil-
ity scanning (servers, networks,
databases, applications and URL
filtering) and others. Some of
the major providers are AT&T,
Verizon, CSC, Dell secure works,
Symantec, IBM, Trustwave, Solu-
tionary and others. According to
the researchers these vendors have
uniquely positioned themselves in
the market with propagation of
new product developments and
lucrative partnerships and acquisi-
tions.
cation, and others. The report is
also segemented by type of servic-
es: training, risk assessment and
investigation, maintenance and
support, consulting, and others;
and then also by categories:port
and critical infrastructure secu-
rity, vessel security, and coastal
surveillance. Finally the analysts
have also divided the report by
regions: North America (NA),
Asia Pacific (APAC), Europe
(EU), Middle East and Africa
(MEA) and Latin America (LA).
According to Marketsand-
protection laws. Security staffing
and budgeting constraints on
organisations plus increasing
adoption of cloud services are also
influencing factors for the growth
of this market.
Marketsandmarkets has
segmented the maritime security
market by type of technologies
and systems: screening and
scanning, access control,
detectors, Geographic Infor-
mation System(GIS), surveil-
lance and tracking, weather
monitoring, smart containers,
Supervisory Control and Data
Acquisition(SCADA), communi-
increased market traction with
high CAGR's, during the forecast
period.
Analysts from the research
company have segmented this
market by solutions, deploy-
ment types, organisation size,
verticals and regions. The major
driving forces which are enabling
the growth of this market are
found to be a rise in cyber crime
and threats, the rising needs for
meeting compliance and data
The increase in maritime threat
in some regions of the world has
been noted as one of the major
factors affecting international
trade.
Solution providers such as
Kongsberg, Raytheon, Terma,
Thales Group, Northrop Grum-
man Corporation, and many
others are expected to provide in-
tegrated solutions and offer better
competitive services. Researchers
stress that the companies in this
industry must take advantage of
the growing awareness of maritime
security in markets such as Middle
East and Africa (MEA) as well as
Asia Pacific (APAC). The surveil-
lance and tracking systems and
solutions, smart container systems
as well as scanning and screening
systems have a high growth rate in
the market.
Marketsandmarkets forecasts
the Managed Security Services
market is expected to grow from
$14.32 Billion in 2014 to $31.86
Billion in 2019, at a Compound
Annual Growth Rate (CAGR)
of 17.3% from 2014 to 2019.
BFSI, utilities, IT & Telecom and
governmentis are expected to be
the biggest contributors in terms
of revenue contribution, while the
growing markets of Europe and
APAC are expected to experience
Increased significance for maritime security
Managed security services
market to reach almost $32B
A newly released report from Marketsandmarkets
finds that the significance of maritime security has
increased due to globalisation. The report entitled,
"Maritime Security Market by Technologies and
Systems, by Services, by Categories, and by Region -
Global Market Forecast & Analysis (20142019)" cites
awareness of maritime security, maritime threats,
regulations and standards, and international trade by
sea as the major driving forces for this market.
A newly released report from Marketsandmarkets
defines and segments the global managed security
services market into various sub-segments with
in-depth analysis and forecasting of revenues. The
report also identifies drivers and restraints for this
market with insights into latest trends, opportunities,
and challenges.
The increase in maritime threat in some regions of the world has been noted as one of
the major factors affecting international trade.
According to Markets
andmarkets, the
maritime security
market is estimated
to grow from $13.94
billion in 2014 to
$20.87 billion in 2019.
Marketsandmarkets
forecasts the Managed
Security Services
market is expected to
grow from $14.32
Billion in 2014 to
$31.86 Billion in 2019,
at a Compound Annual
Growth Rate (CAGR)
of 17.3% from 2014
to 2019.