Growing sophistication and volume of cyber threats necessitates the use of more complex tools.
While the move to the cloud and BYOD and regulatory pressures is pushing organisations to improve their security posture, the emergence of sophisticated threats like targeted attacks, APTs, and larger DDoS are leading enterprises to adopt a more mature approach to security. This is increasing the market opportunity for MSS providers (MSSPs).
New analysis from Frost & Sullivan finds that the MSS market earned revenues of $7.83 billion in 2014, and this is estimated to reach $12.78 billion by 2018. Security asset management and monitoring (SAMM) services will represent the prime market segment. The adoption of cloud-based SAMM will gather pace as the need for real-time security intelligence and protection, big data analytics and advanced targeted threat protection heightens.
"The enforcement of the new EU Data Protection legislation in 2016 and in particular increased awareness of the threat of targeted attacks will prompt firms in EMEA to turn to MSSPs," said Frost & Sullivan Information & Communication Technologies Senior Analyst Beatriz Valle. "In North America too, stringent regulations and increasing governance complexity will spur MSS uptake, particularly in healthcare, banking and retail."