Trustwave garnered 7th place on MSSP’s list, a strong indicator of the company’s status as a managed security service provider.
“We’re honored to be ranked in the top 10 among global MSSP leaders for the sixth year in a row," said Eric Harmon, CEO of Trustwave. “This recognition is a testament to our differentiated capabilities that allow us to detect what others can’t, respond with confidence, and maximize what our clients achieve from their cyber investments. We're proud to help our clients detect and respond to threats 24x7 with decades of experience integrating and managing clients’ security technologies with the elite Trustwave SpiderLabs team."
2022 has been a banner year for Trustwave. The company was previously named to CRNs 2022 Managed Service Provider 500 and as Best Solution Global MDR Service Provider and Best Solution Cloud MDR Provider by Cyber Defense Magazine.
The cybersecurity publication MSSP Alert, a CyberRisk Alliance resource, annually identifies and honors the top MSSPs worldwide. The publication bases the rankings on its 2022 readership survey combined with the site’s editorial coverage of MSSP, MDR, and MSP security providers. The sixth-annual list and research track the MSSP market’s ongoing growth and evolution.
“MSSP Alert congratulates Trustwave on this year’s honor,” said Joe Panettieri, editorial director of MSSP Alert. “The MSSP Alert readership and Top 250 honorees continue to outpace the cybersecurity market worldwide.”
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.
MSSPs also emphasize excellence in security technology maintenance and cyber hygiene. When evaluating an MSSP, one will want to understand the MSSP’s process for maintaining skills and certifications in the technologies they manage, how they integrate technology management with detection and response services, and how often you can communicate with them before incurring additional fees.
Highlights from the associated MSSP Alert research for 2022 include:
- MSSP Revenue Growth & Financial Performance: MSSP honorees, on average, expect to generate $24 million in revenue for 2022, up 26% from 2021. The growth rate is roughly double the market average.
- Geography: Honorees are headquartered in 30 different countries.
- Profits: 90% of MSSPs surveyed expect to be profitable for fiscal year 2022, a five-point improvement from 2021.
- Security Operations Centers: 69% have in-house SOCs, 19% are hybrid, 8% completely outsource their SOCs, and 4% are reevaluating their SOC strategies.
- Cyberattack Trends: The most frequent attacks targeting MSSP customers in 2022 include phishing (97%), vulnerability exploits (93%) and ransomware (91%).
- Cybersecurity Solutions: In a continued sign of market fragmentation, MSSP survey participants mentioned 140 different hardware, software, cloud, distribution and services vendors that assist their cybersecurity efforts.
- Key Managed Security Services Offered: MSSPs and MSPs increasingly seek out partners to deliver MDR (managed detection and response), XDR (eXtended Detection and Response), Incident Response and other key services.
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.
Trustwave is a leader in managed detection and response (MDR), managed security services (MSS), consulting and professional services, database security, and email security. Our elite Trustwave SpiderLabs team provides award-winning threat research and intelligence, which is infused into Trustwave services and products to fortify cyber resilience in the age of advanced threats.
For more information about Trustwave, please visit our website.
Follow us on LinkedIn.
Follow us on Twitter.
About CyberRisk Alliance
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.