Managed security service global revenue totaled $17.4 million in 2015, up 9% from the previous year, and it is forecast to grow by one-third over the next five years, according to a new report from research firm IHS Technology.

More than half (54%) of security service revenue in 2015 came from customer premises equipment (CPE) based services, with cloud-based offerings contributing 46%, the study says. But this ratio is expected to reverse by 2020.

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