“With customers requesting more proactive security measures to defend against evolving cyber threats, MSS/PSS providers must adopt more advanced security analytics platforms to detect and anticipate the potential threats more effectively,” said Mauricio Chede, Information & Communication Technologies Research Analyst at Frost & Sullivan. “These new security analytics platforms should feature advanced functionalities, such as forensics and incident response, across the entire systems in different environments, be it on-premises or for cloud-based services.”
Chede added: “Attackers are now targeting people and not just systems. Companies need to understand that a cybersecurity culture needs to be implemented. Cybersecurity tools and service providers can mitigate threats, but employees need to be aware of potential security threats that could penetrate the corporate environment.”
The digitalization of business operations and the dispersion of devices and locations create a dynamic and escalating exposure footprint, presenting immense growth prospects for market participants, including:
- Advanced Threats: Service providers need to emphasize the effects of advanced persistent threats (APTs) by showing companies their exposure to financial, intellectual property, and confidential information losses.
- Digital Transformation: MSS/PSS providers must take advantage of digital transformation initiatives by observing clients’ current situations and being trusted advisors through consulting and value-added services to help them embrace digitalization.
- Vertical Specialization: Market participants should develop dedicated vertical teams and advise customers operating in several verticals.
- Geographic Expansion: With the Latin American market in the growth stage, companies should try to increase the client’s trust by establishing offices in prime locations to grow MSS/PSS in the region.
- IoT: Enterprises that embrace IoT technologies to enhance end-user and employee experiences are likely to turn to MSS providers for quick and effective security.
Managed and Professional Security Services Market in the Americas, Forecast to 2024 is the latest addition to Frost & Sullivan’s Information & Communication Technologies research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
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Managed and Professional Security Services Market in the Americas, Forecast to 2024
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SOURCE Frost & Sullivan