Managed Security Services Report Q3 2015

MSP TODAY NEWS

Managed Security Services Report Q3 2015

By Steve Morgan

Global managed security services market exploding from $8 billion in 2015 to $30 billion by 2020.

  • The “Global Managed Security Services Market Report” by Frost & Sullivan states that the MSS sector is expected to reach $12.78 billion by 2018. They found that in 2014, the MSS market was $7.83 billion.
  • The global managed security services market is projected to reach $29.9 billion by 2020, with a compound annual growth rate (CAGR) of 15.8 percent over the next five years, according to a recent report from Allied Market Research (AMR).
  • ABI Research says most organizations lack the security expertise to manage security solutions from a wide variety of vendors. Rising threats, government regulations, and a lack of internal resources are driving businesses to turn to managed security service providers (MSSP) which offer expertise and dedicated security personnel.
  • IDC stated “enterprises will be utilizing security software as a service (SaaS) in a greater share of their security spending. By the end of 2015, 15 percent of all security will be delivered via SaaS or be hosted and by 2018 over 33 percent will be”.
  • At the most recent Gartner Security & Risk Management Summit in Sydney, Australia, Gartner analysts stated “A significant portion of organizations are shifting existing resources away from the operational aspects of security technologies, such as security device administration and monitoring, toward mitigation and incident response. This new dynamic has given rise to significant growth throughout the globe for managed security services.”
  • Frost & Sullivan notes that the fastest growing regions in the managed security services sector will be Europe, the Middle East and Africa. Senior Analyst Beatriz Valle points to the enforcement of the EU Data Protection Legislation as being the catalyst for the rapid uptake in managed security services. Valle mentions, “In North America too, stringent regulations and increasing governance complexity will spur MSS uptake, particularly in healthcare, banking and retail.”
  • ”Gartner’s Magic Quadrant for Managed Security Services, Worldwide”, features MSSPs which are evaluated on their completeness of vision and ability to execute, and lists the following companies as “Leaders”: Dell SecureWorks, IBM, Verizon, AT&T, and Symantec. Right behind the Leaders are the “Challengers”: NTT (Solutionary), BT, HP, and CSC”. For CISOs and others deciding on managed security services and MSSPs, it may be valuable to buy the report and learn about vendor strengths and cautions.
  • ”The Forrester Wave: Managed Security Services: North America”, is an evaluation of managed security service providers (MSSPs) including the 13 most significant vendors in the North American market. The vendors include AT&T, CenturyLink, CSC, Dell SecureWorks, HP, IBM, Leidos, SilverSky, Solutionary/NTT, Symantec, Trustwave, Verizon, and Wipro. This report details how well each vendor met Forrester’s criteria and where they stand in relation to each other, and can be useful to help choose the right partner for outsourced security services.
  • International Data Corporation (IDC) Canada has published a new IDC MarketScape research report that comprehensively covers the 12 most prominent Managed Security Service Providers (MSSPs) in the Canadian market. TELUS, IBM, CGI, and Bell earned the distinction of placing in the Leaders category. Dell, Herjavec Group, IPS, Above Security, eSentire, Allstream, Wipro, and Scalar were placed in the Major Players category. The report highlights the evolution within the managed security services space while offering valuable guidance for organizations examining domestic security solutions providers.




Edited by Stefania Viscusi

Founder & CEO, Cybersecurity Ventures

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