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Targeted Cyber Attacks Spur Managed Security Services Market in EMEA Finds Frost & Sullivan - Marked revenues will double by 2018 - MSSPs focus on security intelligence and security analytics - NetworkSecurity.frost.com
Targeted Cyber Attacks Spur Managed Security Services Market in EMEA Finds Frost & Sullivan

 

NewswireToday - /newswire/ - London, United Kingdom, 2013/11/20 - Marked revenues will double by 2018 - MSSPs focus on security intelligence and security analytics - NetworkSecurity.frost.com.

   
 
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The managed security services (MSS) market in Europe, the Middle East and Africa (EMEA) is experiencing rapid growth as the proliferation of targeted cyber attacks compel organisations to turn to MSS providers for their security needs. Security analytics tools and threat landscape research are becoming core elements of MSS offerings. In the face of budget reductions for IT services, MSS also facilitate cost-effective and efficient security operations for enterprises.

New Analysis of the EMEA Managed Security Services Market from Frost & Sullivan (networksecurity.frost.com) finds that the market earned revenues of $2.62 billion in 2012 and estimates this to more than double to reach $5.50 billion in 2018. The research covers customer premises equipment services, and hosted services, which are expected to experience higher than average growth rates as organisations seek to shift from capital expenditure to operational expenditure models.

"In addition to the lack of in-house expertise and the growing complexity of threats, the need to comply with industry standards and regulatory requirements has incentivised organisations to outsource at least a part of their security operations. This is fuelling the demand for MSS in the region," said Frost & Sullivan Information & Communication Technologies Senior Industry Analyst Mario Fernandez.

On the other hand, uncertainty regarding the legality of outsourcing some elements of IT security operations may deter businesses from opting for MSS. "Misconceptions about regulations cause businesses to hesitate before entering into a partnership with a MSS provider," added Mr. Fernandez.

Along with these market dynamics, leading MSS providers are adopting a risk-based approach to understand a client's specific business context before delivering tailored services. Leading MSSPs have placed great emphasis on improving their security intelligence and security analytics capabilities.

"Moreover, while the monitoring and management of security appliances and software will continue to be an essential element of MSS, successful vendors are moving towards expertise-intensive managed security services and the delivery of security intelligence," noted Fernandez. "Offering the flexibility of hybrid MSS models will also represent crucial ingredients for success in the high-end MSS market."

Enterprises continue to constitute the main segment of MSS in EMEA. According to Frost & Sullivan, in terms of market value, the enterprise segment will continue being dominant. From a regional perspective, the United Kingdom and Germany lead in terms of market value. In Scandinavia, Benelux, Switzerland, and Austria the adoption of MSS is relatively high.

If you are interested in more information on this research, please send an email to Joanna Lewandowska, Corporate Communications, at joanna.lewandowska[.]frost.com, with your full contact details.

Analysis of the EMEA Managed Security Services Market (M953-74) is part of the Network Security Technologies Growth Partnership Service program. Frost & Sullivan's related research services include: North America Managed Security Services Market, Asia-Pacific Managed Security Services Market, Latin America Managed Security Services Market, Global Managed Security Services Market, Asia-Pacific Web Application Firewall Market, State of Cloud Computing Security in the UAE, Global Network Access Control Market, and Asia-Pacific Distributed Denial of Service (DDoS) Protection Market. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan
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Targeted Cyber Attacks Spur Managed Security Services Market in EMEA Finds Frost & Sullivan

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Publisher Contact: Joanna Lewandowska - Frost.com 
+48 22 481 62 20 joanna.lewandowska[.]frost.com
 
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