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North American Managed Security Service Providers (MSSP) Market
Frost & Sullivan, May 2010, Pages: 146
The Frost & Sullivan North American managed security service providers market study analyzes the growth drivers and restraints, pricing, distribution, technology, legislation, demand and geographical trends to forecast regional and market segment growth.
The market is segmented into the following categories:
- CPE or managed/monitoring based services
- Hosted, SaaS or “in the cloud” services
- Assessment or professional services
In addition, an in-depth analysis of the competitive situation including vendors' market shares is performed, along with detailed profiles of the key vendors in the industry
Market Overview
Need for Ramping up Web Security Boosts Growth in the North American MSSP Market
Against the background of escalating cyber crime, growth in the North American managed security service providers (MSSP) market is expected to maintain its upward trajectory. As cyber threats get increasingly complex, enterprises are required to implement new privacy safeguards. Organizations are looking at deploying cost effective security solutions to tackle the menace. Besides minimizing costs, security solutions also help expedite business efficiency, and help resolve security related issues within an organization. Enterprises are required to comply with strict compliance regulations to maintain a strong security posture. 'Despite budget cutbacks due to the economic slowdown, companies are continuing to implementing measures to ensure 24/7 protection and security,' notes the analyst of this research service. 'Outsourcing security to an MSSP will free up time for organizations to focus on core business processes.' The introduction of new legislations creates a whole new dimension to corporate liability for information security. These liabilities are constantly evolving. All verticals including healthcare, financial services, and government are required to comply with regulations such as Health Insurance Portability and Accountability Act (HIPAA), Sarbanes Oxley Act (SOX), and Payment Card Industry (PCI).
Nonetheless, the lackluster economy makes most companies hesitant about implementing MSSP services. The veil of economic uncertainity is expected to lift over the next one or two years, but indications reveal that growth may be restrained over the next five years. Considering the overall scenario, it is imperative for providers to roll-out cost efficient solutions. Enterprises are relying on outsourcing to secure infrastructure and lower operational costs. At present, organizations have a greater acceptance of the MSSP model than in the past. Companies that have not experienced a serious breach find it difficult to comprehend the ROI benefits these solutions confer. 'There is still a lack of information with regards to the costs entailed by serious data breaches, especially during this slow economy,' explains the analyst. 'Education must be turned up a few notches to enable organizations to become more at ease with acknowledging the benefits obtained from outsourcing security to an MSSP.'
MSSPs must focus on diversifying security portfolios in order to remain competitive in the market. Convergence, the integration of technologies, continues to be a rising trend in the MSSP market. MSSPs are leveraging hosted services as a means to offer lower price points. In the past year, demand for hosted services has seen an upswing and this is related to the pricing structure of these services. MSSPs are acquiring companies with hosted services as a way to gain entrance into this market. Going forward, more of these acquisitions will occur, allowing MSSPs to offer a combination of services at lower prices. Cloud computing services are being increasingly utilized to cut operational and upfront costs. As more companies adopt these solutions, security in the cloud will grow in importance. Virtualization is being widely embraced across enterprises to facilitate the use of cloud based solutions and ratchet down cost. New avenues of opportunity will open up for MSSPs as virtualization and cloud based solutions gain further traction.
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Large enterprises
- Midsize enterprises
- SMB enterprises
By End-use Vertical:
- Financial
- Government
- Healthcare
- Technology
- Utilities
- Retail
Technologies
The following technologies are covered in this research
- IDS/IPS
- SSL
- VPN
- Firewalls
- NAC
- Endpoint security
- Wireless IDS/IPS
- Mobile anti-malware
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