A single cyberattack can do irreparable damage to a business’s reputation, cost them millions of dollars in revenue, and cause significant legal repercussions. Effective cybersecurity requires constant monitoring and updating, a large investment of time and money, and skilled personnel to keep pace with the evolving threat landscape. Managed security services are designed to take the burden off businesses by providing a team of experts that design, implement, and monitor an organization’s security posture.
The managed security services market is predicted to reach $46.4 billion by 2025. The growth is driven by a growing number of small and medium-sized enterprises (SMEs) that can’t afford to hire their own cybersecurity team. The MSSP model is ideal for these organizations because they can provide a range of managed cybersecurity services at a fraction of the cost that it would cost to build and operate the same capabilities in-house.
In addition, most MSSPs establish a global network of 24x7x365 Security Operation Centers to help protect their clients’ networks. This helps them gain visibility into advanced threats that a smaller or regional provider cannot.
Whether an organization is trying to comply with industry standards like HIPAA or PCI DSS, or simply want to reduce the risk of a breach, an MSSP can provide expert advice and recommendations for the right mix of tools to protect their information and infrastructure. When selecting an MSSP, look for customer testimonials and a proof of concept to get a firsthand look at what it’s like working with the company.