Investments in Cyber Intelligence Platforms to Surge
Companies require advanced threat protection
SANTA CLARA, Calif. — Frost & Sullivan’s recent analysis, "Managed and Professional Security Services Market in the Americas, Forecast to 2024," finds that the volume, sophistication, and diversity of cyberthreats are unrelenting problems for companies’ internal information security teams. The study finds the combination of escalating cyberrisks and security personnel shortages propels market demand and presents challenges for organizations. Customers’ demand for more proactive security is compelling managed and professional security service (MSS/PSS) providers to embrace advanced security analytics platforms to better detect and anticipate threats. In the Americas, the MSS/PSS market is estimated to rise from $12.01 billion in 2020 to $18.81 billion by 2024.
“With customers requesting more proactive security measures to defend against evolving cyberthreats, MSS/PSS providers must adopt more advanced security analytics platforms to detect and anticipate the potential threats more effectively,” said Mauricio Chede, information and 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.