NEW YORK, November 4, 2016 /PRNewswire/ -- Global Managed Security Services Market Expected to Register a CAGR of 17.6% Between 2016 and 2026, Owing to Increasing Vulnerabilities of Advanced Cyber Attacks and Threats Persistence Market Research delivers in depth research on the global managed security services market in its latest report titled, "Global Market Study on Managed Security Services: North America Market Expected to Expand 7X in Terms of Value by 2026 End (http://www.persistencemarketresearch.com/market-research/managed-security-services-market.asp)". According to the report, the global managed security services market is estimated to be valued at US$ 19.98 Bn by 2016 end. Factors such as increasing cybercrime activities, cost effectiveness, delivering timely and speedy action against advanced threats, skilled workforce, 24 x 7 monitoring and support, continuous change in compliance standards and regulations and growing trend of BYOD and mobile devices at workplace are some of the drivers which are expected to grow global managed security services market during the forecast period. However, barriers to entry in the form of scalability, automation and professional expertise act as major restraints in the global managed security services market. Moreover, there is always a huge amount of risk associated with outsourcing the critical and sensitive security information of any organization to the service providers. This also acts as a hindrance to the growth of the global managed security services market. The global managed security services market is segmented on the basis of deployment type, service type, application type, organization and region. By software type, the market is segmented into cloud-based software and web-based software. On the basis of application type, the market is segmented into BFSI, retail, healthcare, telecommunications and others. By service type, the market is segmented into IPS/IDS, DDoS, threat management, firewall management, end point security and SIEM. The market is also segmented on the basis of the organization which includes large enterprises and small and medium enterprises. Key regions covered in the report are North America, Western Europe, and Asia Pacific excluding Japan, Eastern Europe, Middle East & Africa, Latin America and Japan. Demand for cloud-based deployment is expected to grow over the web-based deployment during the forecast period. The cloud-based deployment market is expected to register a significantly high CAGR of 20.1% over the forecast period. The growth is attributed to the flexibility, scalability and easy deployment of the cloud-based platforms.