CIPHER Security LLC, a leading global cybersecurity solution provider, announced today that MarketsandMarkets™, a global B2B research firm, selected CIPHER as a top global managed security services provider (MSSP) according to the new research report titled ‘Managed Security Services Market by Type - Global Forecast to 2023."
This latest report confirms that the global managed security services market is expected to grow from USD 24.05 Billion in 2018 to USD 47.65 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 14.7% during the forecast period.
“Comprehensive managed security services, high focus on R&D, and large-scale engagement with technological partners have led CIPHER to be recognized as one of the key players in the managed security services market” says Deepakshi Krishan, Industry Analyst at MarketsandMarkets Research Private Ltd.
MarketsandMarkets selected CIPHER for its breadth of accreditations, including ISO 27001 and 20000 as well as SOC I and SOC II Type 2. In addition, CIPHER’s network of certified security analysts manage and monitor the most advanced risks, threats, and vulnerabilities.
“We are honored to be recognized for CIPHER’s robust capabilities in Managed Security Services,” says Ed Boucas, Chief Executive Officer at CIPHER. “For more than 18 years, CIPHER has served customers around the world with cutting-edge cyber security management and monitoring solutions.”
CIPHER maximizes its customers’ security investments by monitoring and managing every aspect of your network, applications, systems, and data from its 24x7x365 SOCs. CIPHER’s threat intelligence with security event correlation powers a comprehensive suite of managed security services that improve threat prevention, detection, and response as well as offers insights into organizational security maturity.
“The growing intensity of threats and attacks, and the advent of sophisticated cybercriminals are compelling businesses to upgrade their security systems constantly. These threats and attacks are fast moving and increasing by number and severity. Managed security services offer a systematic approach to organizations to help combat these advanced threats and vulnerabilities and secure their infrastructure,” added Krishan.
MarketsandMarkets noted in its latest report that North America is the largest market for managed security services. Also, the banking, financial services, and insurance verticals are forecasted to be the top markets for managed security services. A rapidly changing threat landscape and the inability to staff enough skilled resources to detect and respond to advanced threats can result in significant financial losses for any organization. Managed security services alleviate this challenge, and the providers are well-positioned to safeguard the organization with threat intelligence tools, antivirus, firewall, Intrusion Detection Systems/Intrusion Prevention Systems, SIEM and log management, risk and compliance management, vulnerability management, encryption, data loss prevention, and more.
The full report from MarketsandMarkets can be found online at https://www.marketsandmarkets.com/Market-Reports/managed-security-services-market-5918403.html
CIPHER’s Managed Security Services portfolio can be reviewed online at https://cipher.com/managed-security-services/