Rising Complexity of Cyber Crimes Puts MSSPs under the Spotlight, Finds Frost & Sullivan

Rising Complexity of Cyber Crimes Puts MSSPs under the Spotlight, Finds Frost & Sullivan PR Newswire MOUNTAIN VIEW, California, Aug. 28, 2012 - MSSPs need to expand their portfolio to deal with the rapid introduction of security technologies MOUNTAIN VIEW, California, Aug. 28, 2012 /PRNewswire/ -- Enterprises are becoming increasingly exposed to organized cyber crime rings and for many businesses, the complexity of threats have compelled them to turn to managed security service providers (MSSPs). These types of external service providers enable organizations to maintain strong security while improving business efficiencies and minimizing costs. Analysis from Frost & Sullivan (http://www.networksecurity.frost.com), Analysis of the Global Managed Security Service Providers Market, finds that the market earned revenues of $6.66 billion in 2011 and estimates this to reach $15.63 billion in 2016. Organizations are realizing that traditional security practices and regulatory mandates are not effective enough to prevent data breaches and other attacks. "Different verticals have different compliance requirements, but adhering to them remains a top driver across all organizations," said Frost & Sullivan Industry Analyst Martha Vazquez. "Therefore, many businesses are choosing to partner with a MSSP for monitoring and response capabilities, as well as regulatory compliance.