A specialized company that offers businesses a comprehensive set of security services that include monitoring and protecting networks or systems from cyber threats is known as a Managed Security Service Provider (MSSP).

What is a Managed Security Service Provider?

Enterprises can purchase security services from Managed Security Service Providers (MSSPs), which are information technology (IT) vendors. MSSP’s role is to help organizations defend against security threats, either by providing tools and services to protect corporate data or by building a group of security professionals capable of continuously responding to intruders.

In addition to managing firewalls, virus and spam filters, intrusion detection and prevention systems, MSSPs also provide information security monitoring and management.

When was the concept introduced?

The concept of MSSPs or Managed Security Service Providers came into existence in the late 1990s and early 2000s so organizations can effectively manage and secure the IT infrastructures whenever there was a growing need of increasing cyber threats.

Specialized services were required to solve these issues because of potential risks and shortcomings brought on by the rapid proliferation of digital technology and the spread of the internet.

Businesses can outsource their security needs to a team of professionals using MSSPs, who often offer these services on a subscription basis. Building and maintaining a national security force can be expensive and give organizations access to a limited amount of security technology and know-how. Vulnerability and incident response are typical MSSP services.

What are MSSPs used for?

It’s crucial to understand how MSSP are employed to know what they can do. The management and monitoring of the security systems and devices must be outsourced to deploy an MSSP. IT teams can concentrate on other crucial duties to accomplish the organization’s objectives because critical systems are in the hands of an external company. Here is a list of some typical services:

• Managed firewall: A managed firewall is a service that offers stronger threat management using security specialists. These experts constantly keep an eye on your firewall and act when any threats are detected. Using a managed firewall is comparable to simultaneously hiring a watchman, detective, and police. The network traffic of your system is closely examined to spot and track any patterns. When creating the security parameters, these security patterns are helpful, and when any event deviates from them, a potential threat alert is addressed to allow for the appropriate action.

• Intrusion Detection: Traditionally, networks are compared to castles. So, theoretically a large enough moat helps in safeguarding the valuables inside. However, when today intrusion detection is implemented, it is vital to question each element, person, and piece of software whether it is inside or outside the castle. A capable MSSP helps in protecting all devices and systems and ensures that there are no malicious parties using them to harm systems whether they are inside or outside the company.

• Virtual Private Network (VPN): In the MSSP, a VPN helps in configuring to shelter the company operations securely. As the VPN has the required shield to prevent intrusion, this private VPN helps to minimize the attack surface significantly. When only the right users are granted the access to the VPN then MSSP implements security measures to safeguard the network from those users and their devices.

• Vulnerability Scanning: While identifying potential threats is an essential step, an MSSP helps to scan the vulnerabilities in your network. Sometimes, these include obvious targets for cyber criminals, like workspaces and sensitive data. But occasionally, entry points that malicious actors are looking for can be discovered many steps away from the main target. No matter where a vulnerability is located within the attack surface, close by, or a few degrees away, a skilled MSSP has the capacity to identify it.

• Antiviral Services: It is crucial to keep up with the rising number of threats, which proves challenging for IT teams, as viral attacks are increasing daily. The MSSP team has the tools and knowledge necessary to focus on the most pressing viral threats to your network and its users. Consequently, an extensive spectrum of antiviral services designed by the MSSP are created to combat the most pressing threats.

Additionally, broad-spectrum antiviral defenses can be deliberately placed throughout various network levels and areas. For example, specific antiviral solutions can be carefully set up to protect internal servers, while different solutions can be developed to protect servers hosted on the cloud.

MSSP can be selected by companies to support all or part of their IT security activities. These companies offer a wide range of services such as access control, continuous security monitoring, vulnerability risk assessment, information and threat assessment, intrusion management and video surveillance.

In addition to making security recommendations, providing a specified level of ongoing security, and ensuring a specified level of ongoing security, MSSPs can also develop policies that help protect infrastructure.

MSSPs not only simplify the process, but they can protect your network and data from threats effectively and cost-effectively. Compared to hiring an in-house cybersecurity team, working with MSSPs can be more cost-effective. MSSPs can help organizations save money on hardware and software.

Growth Of MSSPs and Adoption Trends

Large companies often use MSSP services due to increased security risks. However, many small and medium-sized businesses (SMBs) can benefit from MSSPs as security threats increase. By 2025, the managed security services market is expected to reach $46.4 billion, reflecting the growing demand for MSSPs.

The global Managed Security Service market size revenue is worth $27.7 billion in 2022 and is expected to generate a revenue of around $49.6 billion by the end of 2027 projecting a CAGR of 12.3%.

The MSSPs market growth is driven by major factors. The stringent government regulations and sophisticated cyber-attacks along with the rise in cybersecurity breaches across the enterprises has resulted in the growing adoption of MSS. But, the increase in cyberattacks on the MSSP infrastructure and lack of security professionals are expected to hinder the market growth.

Organizations across the industries are adopting MSSPs because they offer several benefits. The adoption of Managed Security Services Providers (MSSPs) by organizations is rising as a result of a number of strong arguments that address the complex and constantly changing nature of cybersecurity threats and concerns. Major factors influencing the use of MSSPs are:

• Qualified and experienced cybersecurity professionals: MSSPs employ highly qualified and experienced cybersecurity professionals with specialized understanding in these areas. Without having to hire and educate an internal security team, firms may use cutting-edge security technology and techniques thanks to this experience.
• 24×7 monitoring and response: MSSPs provide round-the-clock IT environment monitoring, spotting, and resolving security incidents in real-time. This constant watchfulness guarantees quick threat detection and prompt response, lowering the possibility of breaches and hence it minimizes potential harm.
• Cost effective: An internal security operation can be expensive and resource-intensive to establish and manage. By offering a variety of security services for a fair subscription charge, MSSPs offer a cost-effective alternative. As a result, there is no longer a need for initial expenditures on staffing, software, and equipment. Moreover, MSSPs invest in state-of-the-art cybersecurity tools and technology that enterprises may not have the funds to buy on their own.
• Comprehensive protection: MSSPs provide a holistic approach to security, encompassing a wide range of services like threat intelligence, vulnerability management, firewall management, intrusion detection and prevention, data loss protection, and more. This thorough examination covers a variety of cybersecurity issues, strengthening overall defense.
• Rapid deployment: Compared to creating a security infrastructure from scratch, MSSPs can install security solutions more quickly because they have existing frameworks and technologies in place.
• Scalability: MSSPs may readily scale their services to meet changing needs as businesses grow or their security needs change. They can meet diverse security needs and changes appropriately and offer right protection without placing an undue weight on the company’s internal resources.

In order to gain a more in-depth understanding of malware and other dangerous threats, managed security service providers (MSSPs) are aggressively examining developing technologies. Some MSSPs have cleverly combined cutting-edge network sandboxing technologies with their well-established managed security services.

They have the chance to investigate malevolent conduct in a virtual world due to this tactical combination. Network sandboxing technology, in contrast to conventional tools, produces enormous quantities of educational reports, marking a paradigm shift in the depth and scope of insights gleaned.

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A Few Top Trends 

According to data from 2022, the rise in security risks was concerning. The growth in terms of quantity, severity, and complexity are all driven by the rising nature of cyber threats. Therefore, some key trends to follow for 2023 are shown below.

1. Cyberthreats are growing with the advanced technical solutions

Businesses are setting up AI (Artificial Intelligence) and ML (Machine Learning) advanced security systems, and as a result, cybercriminals are using highly developed strategies to avoid detection, which includes changing SAT sets and learning models. Cyber criminals will turn to more established techniques like credential theft if exploiting vulnerabilities fails, either on their own initiative or by buying stolen credentials from identity access brokers (IABs) on the black market.

Small organizations are at a greater risk and as this threat landscape is intensifying more SMBS are turning to outsourcing services for their security needs. Hence SMBS and large organizations can focus on their core business operations so MSSPs can safeguard the businesses from these expanding array of cyber threats.

2. SMBS are aware of the intensifying risks but lack the required budget and resources to manage them

For SMBs, security through obscurity is no longer a workable strategy. Attackers are keenly aware that SMBs have fewer effective defenses and resources than larger businesses. These attackers consequently customize their attacks, with non-IT SMBs emerging as particularly alluring targets. A rise in SMB priority for cybersecurity is anticipated for 2023, driven by increased board awareness translating into practical actions throughout the organizational spectrum.

SMBs must accept the rise in phishing, social engineering, and other tactics used to obtain credentials from naïve employees because humans continue to be a common Achilles’ heel. Cybersecurity Ventures projects that by 2027, global spending on staff security awareness training would amount to $10 billion, which will help to prevent such breaches.

Another key lesson for Managed Security Service Providers (MSSPs) is that they should be in a special position to help SMBs go beyond merely acknowledging risks so businesses must take proactive and preventive steps. By expanding their service offerings to include supplemental services like thorough employee training programs, MSSPs can strengthen their value proposition and income sources.

3. SMBs will gradually move towards Zero Trust:

The Zero Trust (ZT) security approach is being gradually adopted by Small and Medium-sized Businesses (SMBs). Despite the pace, SMBs face the same challenges as larger businesses, including supply chain security, IoT proliferation, mobile device management, and hybrid work arrangements. As ZT becomes more popular, SMBs will combine ZT services with common ones like backups and anti-malware in an effort to strengthen their security position.

Hence, MSSPs (Managed Security Service Providers) must develop phased ZT adoption programs that focus on the vulnerabilities of SMBs while keeping costs within limits that are acceptable.

4. SMBs will struggle with legal and regulatory obligations for cyber risks

SMBs have to cope with an increase in third-party cybersecurity rules encompassing data privacy, incident reporting, and security procedures, much like their larger rivals. Support from or business relationships with such organizations by the federal government ensure strict federal standards are met. Before issuing or renewing policies, cyber insurance firms also expect thorough cybersecurity information.

MSSPs play a vital role in helping SMBs meet the requirements for cyber insurance and regulatory compliance, strengthening the defense of infrastructure.

MSSPs are appropriate to assist SMBs in meeting internal and external standards by guiding them through the complexities of cybersecurity. By collaborating with the ideal vendor, MSSPs are able to provide flexible and manageable cybersecurity solutions that guarantee protection and scalability to meet changing business needs.

Top MSSPs 

Here are a few top MSSPs vendors who can help strengthen your teams’ cybersecurity capabilities by imparting expertise in cloud security, identity management, or compliance. Through automated incident response, the providers can additionally aid in preventing breaches. They reduce alert fatigue for internal resources, simplify security, and offer appropriate compliance governance. Let’s examine ten distinct MSSPs.

1. Lumen

Lumen brings together network resources, cloud connectivity, security options, voice capabilities, and collaboration capabilities into a single platform that empowers organizations to leverage their data and apply cutting-edge technology.

Managed Security Services provide 24×7 proactive monitoring and management, incident response and analytics services in support of hosted and on-premises enterprise environments. Services provided include managed firewalls, endpoint security, web application firewalls, DDoS attack mitigation, and email filtering.

2. Wipro 

The administration of IT security infrastructures is aided by Wipro’s Managed Security Services, which are offered from 16 Wipro Cyber Defence Centres around the globe. The subjects covered include firewall, anti-virus, IAM, and DLP operations, behavior analysis, unauthorized access detection, preventative strategy recommendations, penetration testing, and security monitoring.

3. Alert Logic 

Alert Logic is a well-known Managed Security Service Provider (MSSP) that specializes in cloud-based security solutions. Threat detection, vulnerability analysis, and incident response are just a few of the services that Alert Logic offers, with a focus on delivering full security for cloud settings. Modern analytics and machine learning, which provide real-time insights into potential threats and weaknesses, can be used by businesses to proactively reduce risks. The platform from Alert Logic is a great choice for companies implementing cloud technology because it is designed to seamlessly integrate with various cloud platforms.

4. NTT

NTT (Nippon Telegraph and Telephone Corporation) is a global provider of information technology and telecommunications. With roots in the late 19th century, NTT has developed into one of the biggest and most influential providers of communication services worldwide. Among its many offerings are network and data center solutions, managed services, cloud computing, cybersecurity, and consulting for digital transformation.

NTT is a multinational corporation. Leading companies in industries like 5G, the Internet of Things (IoT), and artificial intelligence (AI) include NTT, a business known for its innovation.

5. SecureWorks 

Leading MSSP provider SecureWorks specializes in cybersecurity and provides round-the-clock security services for enlarging the network perimeter.

The business provides a broad range of managed security services, such as advanced endpoint threat detection and prevention, advanced remediation management, and firewall, IDS/IPS, and next-generation firewall. Advanced threat hunting, detection, and quick reaction are all included in the company’s Taegis Managed XDR solution across endpoint, network, and cloud settings.

6. Accenture 

In April 2020, Accenture purchased the MSSP offerings from Symantec. The company’s MSSP now offers managed cloud security to automatically assess threats across an enterprise’s cloud environment and respond, managed digital identity to streamline access to services and applications, managed security risk to improve decision-making while mitigating risks, and MDR to detect and respond to threats throughout cloud and on-premises environments.

7. Verizon

Real-time threat data is gathered by Verizon Managed Security Services and sent to the business’s own Security Analytics Platform, which separates out innocuous occurrences and elevates instances that are likely to be dangerous.

Verizon’s web-based Unified Security Portal, which offers granular search and query options as well as thorough reporting on incidents and logs, allows users to examine all security incident information.

8. Trustwave

Businesses may reduce security risk, preserve data, and combat cybercrime with Trustwave’s assistance. Trustwave’s portfolio of managed security services, which is supported by the business’s SpiderLabs threat intelligence team, consists of proactive threat hunting, 24/7 threat monitoring and detection, technology management, security testing, and 24/7 threat detection.

The Trustwave TrustKeeper cloud platform, which offers automated, effective, and reasonably priced threat, vulnerability, and compliance management, is used by more than three million enterprises.

9. AT&T

Eight SOCs located around the world that use the most recent threat intelligence from AT&T Alien Labs provide monitoring, investigation, and incident response services for AT&T Cybersecurity. Cloud and on-premises infrastructures, including endpoints, networks, and cloud apps, are monitored centrally to provide threat detection within minutes of installation.

10. IBM

IBM, a global leader in technology and consulting services, is a leader in innovation and business solutions. IBM has grown into a behemoth of cutting-edge goods and services since its founding more than a century ago.

IBM, a business recognized for its contributions to computing breakthroughs, left a lasting influence on the tech industry with innovations including the mainframe, the personal computer, and Watson, its AI platform. In addition to hardware and software, IBM is a pioneer in domains including cloud computing, AI, and quantum computing. The organization provides a wide range of services, from business counseling to cybersecurity solutions.

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Companies that employed MSSPs and reaped the benefits:

Managed Security Service Providers (MSSPs) have been effectively used by a number of businesses to improve their cybersecurity posture and reap considerable advantages. Here are a few illustrations:

1. Netflix:

Global streaming platform Netflix has profited immediately from its strategic alliance with Managed Security Service Providers (MSSPs) to bolster its cybersecurity defenses and safeguard its vast digital ecosystem, including sensitive consumer data. This partnership aims to protect Netflix’s digital infrastructure against evolving cyber threats and guarantee the content is delivered without interruption to millions of users all over the world.

Because they provide a variety of specialized services that together make up a strong defense mechanism, MSSPs are essential to Netflix’s security approach. Netflix’s digital environment is continuously observed by MSSPs. In order to spot any unusual or suspicious activity, real-time monitoring of network traffic, system logs, and numerous data points is required.

MSSPs utilize cutting-edge threat intelligence tools and methodologies to actively search for indications of possible cyberthreats. Finding anomalies, unauthorized access attempts, malware infections, and other signs of compromise are all included in this. MSSPs make sure that Netflix’s streaming services remain available by proactively identifying and mitigating security issues. For millions of subscribers, this results in constant availability of information, upholding a great user experience.

Given the importance that Netflix placed on preserving customer trust, a safe and dependable streaming platform is made possible by the prompt detection and remediation of security breaches. Users may rely on the security of their personal and financial data.

MSSPs are prepared to react quickly and efficiently in the unfortunate case of a security breach or cyberattack. In order to stop the intrusion, evaluate the damage, and put protective measures in place, they work with Netflix’s internal security teams. Netflix is able to quickly identify and stop potential security breaches thanks to MSSPs. The window of vulnerability is reduced by the speed in threat detection and response, which lowers the possibility of extended service interruptions or data breaches.

2. Zebra Technologies:

​​Zebra Technologies, a well-known supplier of tracking and visibility technologies, proactively partnered with MSSPs to strengthen its cybersecurity framework. By working together, Zebra Technologies was able to better protect its cutting-edge products and the priceless data they handle.

Network traffic, system activity, and potential abnormalities are all continuously and vigilantly monitored by MSSPs working with Zebra Technologies, ensuring that any suspicious trends are quickly identified. By doing a thorough analysis of the infrastructure, MSSPs identified vulnerable points that online attackers may take advantage of.

MSSPs are prepared to react quickly and efficiently in the case of a security incident or breach. By reducing threats, minimizing damage, and restoring service, Zebra Technologies’ incident response capabilities allowed them to reduce the effect of breaches which helps to restore the daily operationsZebra Technologies, which was able to proactively detect security risks before they developed into serious threats is because of the continuous monitoring and vulnerability assessments. Zebra Technologies might respond quickly to security problems and reduce their impact. Risks to business operations and data integrity were reduced by swift event containment.

Zebra Technologies’ solutions and the data they manage are more accurate thanks to their collaboration with MSSPs. The organization maintained the reliability of its monitoring and visibility products by resolving vulnerabilities and responding to problems quickly. Zebra Technologies strengthened its position as a dependable supplier of tracking and visibility solutions by implementing stronger cybersecurity safeguards. This strengthened its dedication to consumer security and data protection.

The alliance between Zebra Technologies and MSSPs highlights the value of preventative cybersecurity measures. Zebra Technologies is enabling itself to effectively identify, address, and mitigate security issues through 24/7 monitoring, vulnerability assessments, and incident response capabilities. Through this joint effort, the business was able to fortify its cybersecurity defenses, ensuring the dependability and security of its tracking and visibility solutions going forward.

3. Telefonica:

International telecoms giant Telefónica formed a strategic alliance with MSSPs to improve its cybersecurity posture and safeguard its vital communication networks. The collaboration sought to strengthen Telefónica’s defenses against sophisticated and developing cyberthreats, protecting its infrastructure and upholding the confidence of its clients.

Sophisticated threat detection algorithms were used by MSSPs to continuously monitor Telefónica’s digital environment. Real-time analysis of network traffic, log files, and security incidents was required for this to quickly spot any indications of malicious activity or potential security breaches.

MSSPs were prepared to act swiftly and efficiently in the case of a security problem. Telefónica was able to contain the attack, determine the scope of the breach, and put corrective measures in place to reduce losses and interruptions thanks to its incident response capabilities.

Telefónica was able to identify and prevent sophisticated cyber threats at an early stage through the use of complete threat detection services. Telefónica was able to quickly reduce the impact of security issues thanks to the incident response capabilities of MSSPs. The risk for disruptions to communication services and client operations was kept to a minimum by prompt containment and resolution.

Telefónica’s cybersecurity safeguards were kept current and effective thanks to the security management services provided by MSSPs. This ongoing watchfulness lessened the possibility that vulnerabilities would go overlooked and unaddressed. Furthermore, Telefónica complied with industry-specific rules and cybersecurity requirements. As a result, the business was able to maintain compliance with the relevant regulations and laws.

Telefónica proved its dedication to protecting client information and communication services. This increased client confidence in the dependability and security of the company’s services.

Conclusion

It is essential to have strong security solutions to safeguard your assets given the rising number of IT security risks. Consider MSSP if your security is insufficient. A business can protect itself against sophisticated cyberthreats by utilizing complete threat detection, incident response, and security management services.

The top examples covered here show how diverse businesses from various industries have utilized the skills and talents of MSSPs to improve their cybersecurity defenses, reduce risks, and protect crucial assets. These firms have benefited from working with MSSPs by gaining proactive threat detection, quick incident response, and the assurance that comes with effective cybersecurity safeguards.

MSSPs and managed security services come in a variety of forms today. As a result, it’s crucial to identify your association’s needs and enlist the Best Managed Security Service Providers to take care of them. Security and IT teams should carefully plan around the capacities that will be outsourced before evaluating MSSPs. At that stage, consult with the board and the leaders of the business units to determine the financial strategy and cycles the organization will require.

After your organization has identified the requirements for managed security service providers, it is crucial to investigate your potential options and compile a waitlist of vendors to contact for an evaluation.