The managed security services market will become a $3.25 billion industry by 2018, up from $1.81 billion in 2013, a new research report from Frost & Sullivan says.
The market analyst forecast that evolving complexities of securing an enterprise’s information technology assets will encourage the growth, led by the segment that deals with research, emerging threat intelligence, detection and remediation services.
Other market forces that could spur development are the increasing use of mobile devices and cloud computing, technologies Frost & Sullivan says have helped evolve the threat landscape and the tools needed to secure the data on them.
Frank Dickson, network security industry principal at Frost & Sullivan, said Tuesday tenured vendors will have the edge because cmpanies would likely favor new technologies to derive action-oriented insights from.
“From the customers“™ point of view, the value of managed security services provided does not lie solely in the algorithms and sensors put in place, but rather the time-consuming integration of data into the analytics that produce exceptional insights,” Dickson said.
“Customers will, therefore, choose MSSPs that offer services that have matured over time as they would be employing the most robust analytics and useful insights,” he added.
Frost & Sullivan said it conducted market participant interviews to help compile the industry trends cited in the network security technologies report.