Two factors are boosting the growth of the Managed Security Services Market: the steady and alarming rise of cyber attacks on businesses, large and small, and the shortage of IT professionals equipped, skilled, and knowledgeable in handling these sophisticated online invasions. As organizations realize that neither they nor their best IT teams have the expertise, time, and resources to continuously fend off hacking, phishing, and other forms of data theft, they outsource the protection of their company to specialist firms that can do the job. This has led to the birth of the Managed Security Services Market.
As Computer Weekly explains it, the number of cyber threats is increasing at an alarming 14% a year. Hackers are also becoming more inventive in their attacks to steal an organization’s confidential information including the names and contact details of clients and other shareholders in its database. The usual anti-virus software does not cut it anymore. A company’s single IT department would be hard-pressed to dedicate itself to constantly analyzing cyber-attack trends and mounting the proper, effective shields against it. The company may not have the monies and time to make the investment.
If it has the resources to continuously install its IT department with the right equipment, it would still need qualified IT professionals at the helm. Finding and hiring them in themselves are a challenge, given the dearth of 1 million IT specialists.
Contracting a third-party provider to manage its security systems appears to be the most effective strategy. The company and its IT unit would be unencumbered to pursue their core objectives, while the Managed Services Security provider studies their systems, monitors and repels all attacks, repairs breaches, and continuously upgrades their defenses to make sure the IT infrastructure remains impervious to the newest threats.
This burgeoning need for Managed Security Services providers will explode the value of the U.S. market to $26.9 billion by 2020, according to the IHS Markit. The sectors that will be on the lookout for third-party providers to assist in their cyber security include defense, intelligence, security, healthcare, utilities, telecommunications, and finances (especially insurance).
The Managed Security Service providers will be creating solutions and remediation programs that will be more flexible in responding to each organization’s unique security requirements. The cloud computing system will become a vital base where they can host and protect their client’s databases and other virtual functions. These providers will be tapping into cutting-edge virtual customer premises equipment services fueled by network functions virtualization. One common hardware platform that can efficiently operate virtual machines will manage these services designed to curtail cyber attacks.
One most important application that the Managed Security Services provider can use to perform its role is the Remote Management and Monitoring platform (RMM). Through the RMM, the project manager of the third-party provider can observe and check on real-time the different tasks, functions, and operational processes being executed by the IT system, its components, and the people using them — all without leaving his office. The RMM deploys a digital agent into the IT system’s various devices, databases, and nodes to regularly track their activities, and then report back to the project manager its findings. If the agent spots a potential or sudden problem like equipment degradation or a malfunction in the system, it fixes the situation before it escalates.
The Managed Security Services provider can use RMM to halt and deflect cyber attacks by programming the agents to monitor the key areas that hackers usually target. As described by Infosec Today, RMM can focus its attention on “firewalls, gateway anti-virus systems, intrusion detection and prevention systems and other dedicated security infrastructure.” As soon as a cyber threat pokes into any of these elements, the RMM will sound the alarm, notify the project manager, repel the attack, and make recommendations on how to eliminate it.
Like Marines standing on the wall, RMM is always on the lookout 24/7 to spot and prevent cyber threats from entering and infiltrating the IT system.
Business leaders and company heads are finding it increasingly economical to outsource their Managed Security Services requirements to third-party providers. With RMM as part of the arsenal engaged by these new cyber warriors for their defense, they can rest easier and focus on their other urgent tasks, knowing that their security lies in safe and strong hands.