7 Reasons to Enter the Managed Security Services Market in 2016
Looking to expand your business? The managed security services market could provide many growth opportunities for managed service providers (MSPs). Here are seven reasons to enter the managed security services market in 2016.
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Looking to expand your business? The managed security services market could provide many growth opportunities for managed service providers (MSPs). Here are seven reasons to enter the managed security services market in 2016.
Recent data from technology research firm Gartner indicated that information security spending could reach $76.9 billion this year, which would represent an 8.3 percent year-over-year increase. In addition, Gartner has predicted that by 2018, 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. And as information security spending increases, MSPs that offer managed security services could reap the benefits of new recurring revenue opportunities.
Transparency Market Research has predicted that the managed security services market could be worth more than $24 billion by 2019, up from roughly $9 billion in 2012. Expect the demand for managed security services to increase over the next few years, thus providing additional expansion opportunities for MSPs.
A recent survey of 170 businesses conducted by the Security for Business Innovation Council (SBIC) and RSA revealed the majority of companies do not have incident response plans or understand how to fully leverage their IT security solutions. However, MSPs that deliver managed security services can serve as trusted advisors that can help businesses protect their sensitive data at all times.
Trustwave's "2015 Security Pressures Report" revealed 78 percent of information security professionals said they were likely or planned to partner with a managed security service provider (MSSP) this year. Offering managed security services can help an MSP build long-lasting partnerships with customers, and ultimately, boost its revenues.
Entering the managed security services can help an MSP serve as a one-stop shop for customers. An MSP can bundle managed security services with its existing offerings or provide these services on their own to bolster its services portfolio.
A Nov. 2014 IBM (IBM) study of nearly 150 chief information security officers (CISOs) revealed 75 percent of these leaders said they expected their cloud security budgets to increase dramatically over the next three to five years. And by offering managed security services, an MSP can address the C-suite's IT security concerns quickly and efficiently.
Advanced persistent threats (APTs) are driving the managed security services market's growth, according to a recent Frost & Sullivan study. An MSP that offers managed security services, however, can help its customers minimize the dangers associated with malware, Trojans and other cyber threats.
Advanced persistent threats (APTs) are driving the managed security services market's growth, according to a recent Frost & Sullivan study. An MSP that offers managed security services, however, can help its customers minimize the dangers associated with malware, Trojans and other cyber threats.
What are your thoughts on managed security services? Share your thoughts about this story in the Comments section below, via Twitter @dkobialka or email me at [email protected].
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