Frost Radar™: Managed Security Services in the Americas, 2024

Frost Radar™: Managed Security Services in the Americas, 2024

A Benchmarking System to Spark Companies to Action - Innovation that Fuels New Deal Flow and Growth Pipelines

Managed security services (MSS) is a strategically significant industry in which security vendors provide technology, expertise, and management for the private and public sectors. At the same time, the customer retains control and oversight. While the market is in a mature stage, it continues to grow steadily year after year. The reason is that it addresses three major cybersecurity needs and issues: managing complex security solutions, alleviating the need to hire and retain cybersecurity personnel during a global shortage, and dealing with increasingly sophisticated attacks in an ever-evolving threat landscape.

Managed security service providers (MSSPs) offer broad portfolios of sophisticated security services, professional assessments, and consulting engagements for their customers. Standard services have evolved to include managed endpoint detection and response/network detection and response, distributed denial-of-service protection or mitigation, managed firewall, vulnerability management, risk assessments, and penetration testing. Once provided on-site, these services are primarily delivered through an MSSP’s security operations centers.

As the competitive intensity increases, each MSSP focuses its development on a specific direction (e.g., network, cloud, edge, OT/internet of things) or goes for a more generalist approach. Many MSSPs have developed integrating security operations platforms with extended/managed detection and response capabilities. These serve as single pane of glass through which providers deploy incident response and additional security capabilities.

Frost & Sullivan analyzes numerous companies in an industry. Those selected for further analysis based on their leadership or other distinctions are benchmarked across 10 Growth and Innovation criteria to reveal their position on the Frost Radar™. The publication presents competitive profiles of each company on the Frost Radar™, considering their strengths and the opportunities that best fit those strengths.