Managed Security Services (MSS): An Opportunistic IT Security Segment, Globally

Managed Security Services (MSS) can be understood as an arrangement for the remote management and monitoring of IT security through the 3rd party vendors thereby having an effective secured IT environment for the organizations.

With the increase in the incidents of security breaches and other malicious activities, the organizations worldwide are experiencing rapid growth in security concerns. Further, the rising costs for having a flawless IT security environment is posing a significant challenge to these organizations across sectors. With the increase in the IT talent pool, globally, there has been a significant rise in the number of professional hackers. As a negative side to this there has been a rapid increase in the organized cybercrime. Such a risk of data breaches has led to the significant cost increase in securing the IT environment worldwide. Such inflated IT budgets are continuously becoming a bottleneck for the companies across industries.

However, the organizations are now accepting MSS as a promising solution to combat the security breaches. The organizations are preferring to outsource the IT security jobs to the MSS vendors and focus on their core business activities. The favourable factors with such an arrangement includes effective management of IT security, seamless monitoring and cost-effectiveness. Altogether, this market is expected to experience a high growth riding on the back of the increase in the cyber crime and its threats.

With the participation of the leading IT players such as in the MSS market, the organizations are experiencing huge boost in their confidence to outsource the IT Security jobs. Key vendors of this market include IBM, Cisco Systems Inc.,HP, AT&T, Dell SecureWorks, Fortinet Inc., Computer Science Corp., Check Point Software Technologies Ltd., Symantec Corp., and BT Group.

The outsourcing of information security to the managed security services vendor incurrs lower cost as compared to the in-house arrangement of such services. There is a high cost associated to build these security capabilities in-house by the organizations especially related to the hiring of skilled workforce, management, procurement of solutions etc. However, in order to cope up with the growing complexity of the data breaches the companies are now preferring the outsourcing of security activities to the specialized vendors only owing to the effective management, smart solutions and cost-effectiveness.

With the increase in the data breach cases worldwide, the government across nations is becoming more aware and conscious to build strict security norms to combat the cyber crimes. For instance, The Gramm-Leach-Bliley Act (Financial Modernization Act) in United States has led the provisions for protecting the confidential financial information of the customers of all the financial institutions.

With the increase in the BYOD trend among organizations which basically lowers down the cost and increases the mobility and availability of the employees, there has been a continuous rise in the security concerns as a parallel trend. Hence, while following the BYOD trend and increase in the mobility, there is a steady surge in the requirement of highly secured IT infrastructure thereby leading to the significant increase in the IT expenses of the companies. Such an increase in security concerns of the companies are fuelling the market growth of Managed Security Services globally. As per the research study conducted by Cisco, a leading IT security company, nearly 26% of the companies worldwide consider security as the most difficult challenge for BYOD adoption.

A number of market research reports have been published by the leading research organizations highlighting the various important aspects of this IT security market such as key insights, market trends, promising opportunities lying different segments, market sizes and forecasts. However, one of the leading research report online store, Sigma Market Research, provides access to some high quality research reports thereby making the search for a meaningful report an easy task.Sigma Market Research provides the best-in-class market research reports from the best publishers across the globe. With its stringent selection process for the publishers and high quality reports, Sigma Market Research covers a wide range of industries and geographies bringing-in the valuable insights and workable solutions to the different market situations for our clients.

Though the organizations are preferring the outsourcing of the IT security to the Managed Security Services vendorhowever, still the hesitation in handing over the confidential information outside the company is still a challenge for this market. The confidential information with the companies are highly critical for the companies’ business and so is the confidence level of these companies in the vendors of managed security services. With more and more entry of the reputed IT security players coming in this market would probably increase the confidence level of the companies thereby leading this market to the high growth rates.

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