For the seventh consecutive year, Trustwave has been named a Top 10 Managed Security Services Provider by MSSP Alert.
Trustwave placed 10th on MSSP's 2023 list, indicating the company's status as an industry leading managed security service provider.
MSSP Alert noted that 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.”
Trustwave is an Industry Recognized Leader
Being named to MSSP Alert's Top 250 list is Trustwave's latest achievement in 2023. A few of our accolades received this year include:
The Need for MSSPs Continue to Grow
The need for MSSPs has never been greater. With organizations worldwide struggling to hire and retain security staff, MSSPs can serve as an outsourced function of an IT team, handling those aspects of security that cannot be done in-house.
Whether requiring a full security operations center (SOC) or just needing alerts set up and monitored across numerous standards, MSSPs are best leveraged when internal IT resources are limited and the expectation for greater involvement over time is low.
MSSP Alert noted that the Top 250 MSSPs and associated survey participants continue to grow faster than the overall managed security market.
Fuelling this growth is the continuing and growing threat of cyberattacks, with most frequent attacks targeting MSSP customers in 2023 being:
- Phishing – with 95% of MSSP customers reporting attacks
- Ransomware – with 86% reporting attacks
- Vulnerability exploits - with 91% reporting attacks.
For-profit supply chain cyberattacks and continuing nation-state attacks and geopolitical events will also contribute to the increase in attacks.
MSSP Alert survey participants expect to grow annual MSSP revenues by 20% in 2023 vs. 2022. That's faster than the overall cybersecurity services market, the publication noted.
MSSP Alert cited the market analyst firm Canalys, which expects the overall cybersecurity services market to grow by 14% in 2023.
MSSP growth year over year is smaller than last year's growth rate of 26%, and the rate at which it outpaces the overall security services market growth is also smaller. Last year, Canalys cited a 13% growth rate for the overall market, but said Macroeconomic conditions likely slowed the growth rate. however, it’s still a healthy rate growing faster than the overall market.
