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North American Managed Security Market Continues to Grow Amidst Competitive Shake-Ups and New Offerings

North American Managed Security Market Continues to Grow Amidst Competitive Shake-Ups and New Offerings

PALO ALTO, Calif., Dec. 20 /PRNewswire/ -- Spurred on by increasingly innovative security threats and a growing need to ensure legislative compliance, the North American managed security service providers (MSSP) market has emerged from its introductory stage to record strong growth. MSSPs continue to grow as a result of strong testimonials and high profile security incidents, and ongoing investments in the form of acquisitions by leading systems integrators and telcos indicate that major market participants remain buoyant about the future of managed security services (MSS) in North America.

New analysis from Frost & Sullivan (http://www.itservices.frost.com/ ), North American Managed Security Service Providers Markets, reveals that revenues in this market totaled $1.04 billion in 2006, and can reach $3.41 billion in 2013.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the latest analysis of the North American Managed Security Service Providers Market, then send an e-mail to Mireya Castilla, Corporate Communications, at [email protected] with your full name, company name, title, telephone number, city, state, country and e-mail address. Upon receipt of the above information, an overview will be sent to you by e-mail.

"Over the past year, distributed denial-of-service (DDOS) attacks, phishing, pharming, and phlooding have all continued. What is perhaps most hopeful about these challenges is that there is a greater consensus throughout the industry that the key to managing these threats is to seize and maintain the initiative through an increasingly preventative posture," notes Frost & Sullivan Industry Analyst Loren Rudd. "As hackers continue to innovate and refine their attacks, a growing number of businesses seeking network protection are likely to look hard at partnering with MSSPs, as their own resources (time, money, and personnel) for dealing with the threats are limited."

Managed security event correlation systems, sometimes referred to as security information management (SIM) or security incident and event management (SIEM), are an emerging offering in the MSS industry that are gaining momentum among the traditional MSSPs. With SEC solutions becoming an integral part of enterprise infrastructure, managed SEC services are likely to particularly appeal to small and medium size enterprises that may find the capital outlays associated with SEC deployment and management prohibitive.

In respect to the challenges, the North American MSSP market is likely to be restrained by the difficulty to measure the ROI on investing in MSS. Many potential clients remain unconvinced of the value of MSS unless they have already experienced a serious network security failure. While the impact of this restraint is gradually reduced each time a costly network security breach gains publicity, for example CardSystems, many companies appear to be willing to take their chances until legislation specific to their industry induces them to comply and invest in such solutions.

The fear of public embarrassment can be an effective motivator for enterprises to invest in network security or a managed security provider. CNN, The New York Times and the Associated Press had to face embarrassment and lost productivity when the Zotob worm exploited a published vulnerability in Microsoft's plug-and-play application in August, 2005.

"While large, public security 'events' such as the above benefit the managed security industry, MSSPs can also continue to help themselves by developing and sharing proprietary cost models with their prospective buyers," says Rudd. "These models could show both the possible costs and damage of major security events, as well as the relative costs in sourced network management and outside partners, thus helping justify the need for investing in MSS solutions."

North American Managed Security Service Providers Markets is part of the Network Security subscription service. It provides drivers, restraints, trends, market sizing, segmentation by services and vertical enterprise users, as well as a competitive analysis. In this research service, Frost & Sullivan's expert analysts thoroughly examine the following markets/applications/technologies: managed firewall, IDS, IPS, authentication, SSL VPN, IPSec, and assessment, among others. Interviews are available to the press.

Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership service and corporate management training to identify, and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics and demographics. For more information, visit http://www.frost.com/ .

North American Managed Security Service Providers Markets FA05-74 Contact: Mireya Castilla Corporate Communications - North America P: 210.247.3830 F: 210.348.1003 E: [email protected] Srividhya Parthasarathy Corporate Communications - Europe P: + 91 44 42044668 E: [email protected] Sarah Lourdes Corporate Communications - Southeast Asia & ANZ P: +603 6204 5878 F: +603 6201 7402 E: [email protected] Surbhi Dedhia Corporate Communications - South Asia, Middle East P: +91 22 2832 4705 Ext: 131 E: [email protected]://www.frost.com/

Keywords in this release: managed security service providers, MSSPs, managed security services, MSS, distributed denial-of-service, DDOS attacks, phishing, pharming, phlooding, managed security event correlation systems, security information management, SIM, security incident and event management, SIEM, SEC solutions, Zotob worm, research, information, market, trends, technology, service, forecast, market share

Frost & Sullivan

CONTACT: Mireya Castilla, Corporate Communications - North America,
+1-210-247-3830, or fax, +1-210-348-1003, or [email protected] , or
Srividhya Parthasarathy, Corporate Communications - Europe, +91-44-42044668,
or [email protected] , or Sarah Lourdes, Corporate Communications -
Southeast Asia & ANZ, +603-6204-5878, or fax, +603-6201-7402, or
[email protected] , or Surbhi Dedhia, Corporate Communications - South
Asia, Middle East, +91-22-2832-4705, Ext. 131, or [email protected] , all of
Frost & Sullivan

Web site: http://www.frost.com/

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