One Article Review
| Source |  AlienVault Lab Blog |
|---|---|
| Identifiant | 8619456 |
| Date de publication | 2024-12-04 14:00:00 (vue: 2024-12-04 14:07:57) |
| Titre | How Regional Service Providers Can Grab a Larger Share of the Cybersecurity Market |
| Texte | Security leaders continue to be under intense pressure. Increasingly, they are turning toward third parties for support and expertise as their cybersecurity woes become more dire and it becomes harder to recruit and retain talent. This is reflected in the projected growth for cybersecurity services through 20281 (managed security services, managed detection and response, security consulting, and security professional services). According to Gartner1, end-user spending for all security services will grow from $77.4 billion in 2024 to $116.9 billion in 2028, with a compound annual growth rate (CAGR) of 11.4 percent. Managed detection and response (MDR) is forecasted to be the highest growth area of security services, with a projected 17.1 percent CAGR through 2028. This is in part due to the continued, acute need for support with threat monitoring, detection, and response. However, it’s also due to a growing need for help with risk identification, management and governance, exposure and vulnerability management, and incident readiness due to increasingly stringent requirements by regulators for reporting in these areas. Let’s compare that to the forecasted growth rate of network security products (a 9.9 percent 5-year CAGR, 2023-28, projected to reach $32.8 billion) and security software spending (a 13.4 percent 5-year CAGR, 2023-28, projected to reach $132.0 billion). What’s the storyline? The desire for help and expertise within security is as critical as the need for security products themselves. And, as the threat landscape grows ever-more formidable, especially with adversaries leveraging new AI tech, that need is likely not going to wane. With this growing demand, many, many different (and very large) providers have realized the opportunity in security services and are diving into the security services market for their piece of the “cyber money pie.” This includes everyone from software vendors, telecom companies, cloud service providers, IT service providers and traditional IT consulting firms to global MSPs (managed service providers) and MSSPs (managed security service providers). This is creating a very crowded market, and one in which business models are quickly changing so providers can better compete. For example, many organizations now see some of the big consultancies as a “one-stop shop,” for everything from consulting to MDR. In managed security services, for example, the top 10 MSSPs include (alphabetically): Accenture, Atos, AT&T (LevelBlue), Deloitte, Fortinet, Leidos, HCL Tech, NTT Data, PwC, and Tata Consultancy Services. Together, these providers hold 49 percent of MSS market share worldwide. Extending beyond the top 10 to top the 30 global MSS providers, the total “owned” market share jumps to 88 percent, leaving just 12 percent for the smaller, regional players. The raises several questions. Can the smaller, regional players compete against these big guns? Or, do they have to remain satisfied with fighting over the remaining 12 percent market share globally (which equates to approximately $3.5 million worldwide for MSS in 2025). Is it possible for smaller players to take a portion of the $26 million projected 2025 market share from the top 30? How can smaller, regional players win the security service game? Yes, smaller, regional service providers are going to be the most challenged as the services market continues its rapid evolution, especially as they try to keep up with technology changes, AI’s impact on service delivery, cyber skills shortages, and more. However, they also have an advantage, including the ability to: Specialize in industry or specific tech environments such as OT, cloud, or edge Provide regional context (including culture and language support) Partner with the larger players who can’t be everything to everyone This is wh |
| Notes | ★★ |
| Envoyé | Oui |
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| Tags | Vulnerability Threat Industrial Cloud |
| Stories | Deloitte |
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