– Trends such as mobility, cloud and big data make it challenging for companies to satisfy their security needs internally
SAO PAULO, Feb. 13, 2015 /PRNewswire/ — Managed security services (MSS), which are network security services outsourced to a third party to host, monitor and respond in case of malicious malware and criminal activities, are gaining traction in Latin America. The appeal of MSS lies in its ability to help lower costs and leave clients free to focus on their core business.
New analysis from Frost & Sullivan, Analysis of the Latin American Managed Security Services Market, finds that the market earned revenues of $469.6 million in 2013 and estimates this to reach $771.6 million in 2019 at a compound annual growth rate of 8.6 percent.
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"With trends such as cloud computing, mobility, big data, and Internet of things expanding in the Latin American market, the need for MSS is intensifying," said Frost & Sullivan Information & Communication Technologies Research Analyst Mauricio Chede. "In this market environment, ‘anywhere’ accessibility on all Internet-connected devices is leading to more data generation as well as the rise of new vulnerabilities and attack points. Consequently, MSS is becoming an important consideration for companies to avoid having their data accessed or stolen and reputation damaged."
However, not all companies are aware of dangers such as advanced persistent threats, and thus do not see the need to avail MSS. Companies that fall under this category tend to assume that an anti-spam/anti-virus program is sufficient for protection. Some others are unlikely to use MSS as they do not see a clear return on investment in security and do not allocate an adequate budget for this purpose.
"Currently, the Latin American market does not spend enough on MSS," agrees Chede. "The lower-than-expected MSS uptake stems from companies’ reactive rather than proactive posture – they look to invest in security only after being attacked. As security issues become increasingly complex and expensive to manage in-house, more companies will seriously consider outsourcing to MSS providers."
Improving quality of service from MSS providers will support adoption rates significantly. The addition of different and value added services, including the use of security operational centers (SOCs) to deal with security issues and enhanced service level agreements will win over more clients.
Analysis of the Latin American Managed Security Services Market is part of the IT Services (http://www.ITservices.frost.com) Growth Partnership Service program. Frost & Sullivan’s related studies include: Latin American Information Technology (IT) Infrastructure Outsourcing Services Market, Asia-Pacific Internet of Things Market, European Data Centre Services Market, and Brazilian Internet Technology (IT) Infrastructure Outsourcing Services Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Analysis of the Latin American Managed Security Services Market
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