Managed Security Service Providers
Growth opportunities for Managed Security Service Providers (MSSPs) are on the rise. According to IDC, the global managed security services market revenues could surpass $32.2 billion by 2022, a 10.6% compound annual growth rate (CAGR).
But there are challenges to overcome including:
- Enterprise adoption of MSSP services is a cost-based decision made to outsource legacy and tactical services.
- MSSP deployments tend to be multivendor environments which create security silos, increasing cost and complexity.
- Keeping pace with the speed of digital transformation in the enterprise means that MSSPs need to embrace new technologies at an even faster pace and rapidly build the expertise to deliver new security services.
To increase profitability and build a strong future, MSSPs must add more value at a strategic level to their customers. There is a dire need for skilled IT security talent in the enterprise that presents a strategic opportunity for MSSPs. The road ahead for MSSPs is to train their teams on new technologies and offer new services needed to secure the data and IT infrastructure of the new digital enterprise.