CHICAGO – Sept 18, 2023 – Trustwave has again been named a Top 10 MSSP by the industry publication MSSP Alert, a CyberRisk Alliance resource, in its 2023 Top 250 MSSPs List, placing 10th this year.
The list identifies and honors the top MSSPs worldwide. The rankings are based on MSSP Alert’s 2023 readership survey combined with the site’s editorial coverage of MSSP, MDR, and MSP security providers. The seventh-annual list and research track the MSSP market’s ongoing growth and evolution.
“MSSP Alert and CyberRisk Alliance congratulate Trustwave on this honor,” said Jessica C. Davis, editorial director of MSSP Alert, a CyberRisk Alliance resource. “The Top 250 MSSPs continue to outperform the overall cybersecurity services market in 2023. It’s an indication of the strength of managed security services provided by these specialists at a time when cybercrime has accelerated and threatens businesses of every size and from every industry.”
Highlights from the associated MSSP Alert research for 2023 include:
MSSP Revenue Growth & Financial Performance: MSSP honourees, on average, expect to generate $56.3 million in revenue for 2023, more than double the number from our 2022 report. However, the 2023 Top 250 reported 2022 revenues averaged $47 million.
Geography: Honourees are headquartered in 37 different countries.
Profits: 87% of MSSPs surveyed expect to be profitable for fiscal year 2023.
Security Operations Centers: 67% have in-house SOCs, 23% are hybrid, 8% completely outsource their SOCs, and 1% are re-evaluating their SOC strategies.
Cyberattack Trends: The most frequent attacks targeting MSSP customers in 2023 include phishing (95%), vulnerability exploits (91%) and ransomware (86%).
Cybersecurity Solutions: Larger MSSPs were more likely to run their SOC entirely in-house (85%) while just half of our smaller segment MSPs ran their SOCs in-house and 33% took a hybrid approach (a portion in-house and a portion outsourced.)
Key Managed Security Services Offered: Almost all of the larger MSSPs (90%) provided 24/7 security event monitoring and response for threat detection use cases on their own. While 61% of the smaller MSSPs provided these services on their own, 35% partnered with another company for these services and 4% of the smaller MSSPs did not offer them at all.
As a recognized global cyber defender that stops cyber threats all day, every day – we enable our clients to conduct their business securely.
Trustwave detects threats that others can’t see, enabling us to respond quickly and protect our clients from the devastating impact of cyberattacks. We leverage our world-class team of security consultants, threat hunters and researchers, and our market-leading security operations platform to relentlessly identify and isolate threats with the right telemetry at the right time for the right response.
CyberRisk Alliance (CRA) is a business intelligence company serving the high growth, rapidly evolving cybersecurity community with a diversified portfolio of services that inform, educate, build community, and inspire an efficient marketplace. Our trusted information leverages a unique network of journalists, analysts and influencers, policymakers, and practitioners. CRA’s brands include SC Media, SecurityWeekly, ChannelE2E, MSSP Alert, InfoSec World, Identiverse, Cybersecurity Collaboration Forum, its research unit CRA Business Intelligence, and the peer-to-peer CISO membership network, Cybersecurity Collaborative. Click here to learn more.