The Managed Security Services Provider (MSSP) market is continuing to grow as companies look to outsource Cybersecurity.
Infonetics Research says the managed security market will exceed $9 billion by 2017, in its “Cloud and CPE Managed Security Services” report.
Frost & Sullivan researchers predict the EMEA MSSP market will reach $5 billion by 2018. “Threat intelligence, research, detection and remediation services are likely to grow at a rate twice that of security asset monitoring and management, becoming a critical focus area that will distinguish market leaders from the rest,” stated Network Security Industry Principal, Frank Dickson. “North American Managed Security Services will reach $3.25 billion in market revenue by 2018. Security asset management and monitoring will continue to be the largest market segment. Nonetheless, market growth will be driven by the emerging threat intelligence, research, detection, and remediation services segment – the nexus for industry innovation,” adds Dickson.
By 2018, Gartner projects that more than half of organizations will use security services firms that specialize in data protection, security risk management and security infrastructure management to enhance their security postures. They say that in 2015, roughly 10 percent of overall IT security enterprise product capabilities will be delivered in the cloud, as cloud-based services or cloud-managed products. For small or midsize businesses, Gartner projects that 30 percent of security controls will be cloud-based in 2015. It is not clear what percentage of these cloud security services will be delivered by MSSPs.
Pure play MSSPs and others with MSSP offerings on the Cybersecurity 500 list of the world’s hottest and most innovative cybersecurity companies include an impressive lineup of companies. Here’s a partial list from the U.S. and internationally:
Above Security, Montreal, Canada
AT&T Network Security, Bedminster NJ
BT, London, UK
Crypteia Networks, Athens, Greece
Dell Secureworks, Atlanta GA
Herjavec Group, Toronto, Canada
IBM Corp., Armonk NY
Innove, Boerne TX
Solutionary (NTT), Omaha NE
Trustwave, Chicago IL
Sungard Availability Services, Wayne PA
Sword & Shield, Knoxville TN
To view the entire Cybersecurity 500 list, go here:
To read the Cybersecurity Market Report and learn more about the MSSP market size and projections, go here:
By Steve Morgan, Founder & CEO, Cybersecurity Ventures