Managed security services gaining popularity

The managed security services market is estimated to reach US$4.9 billion by 2006, driven by enterprises’ need to protect information stored on their networks from an increasing number of security vulnerabilities and threats.

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By  Zoe Moleshead Published  September 10, 2002

The managed security services market is estimated to reach US$ 4.9 billion by 2006, driven by enterprises’ need to protect information stored on their networks. Research group In-Stat/MDR also expects a shift in the market to occur, with security monitoring taking over from security consultancy as the most popular service by 2006.

According to the research group, other factors stimulating the managed security services market include an increasing number of customers to spread the word; expanded services to existing customers, service availability on a trail basis and the entrance of big name hardware players into the market.

Firewalls and virus protection are also predicted to be the elements of security that most companies will outsource.

“Companies are at high risk for security violations from many directions as employees, partners, customers, viruses, worms, hackers, telecommuters and wireless connections all pose risks to the corporate network,” says Jaclynn Bumback, analyst, In-Stat/MDR.

“A high degree of security expertise is needed to protect companies from the many risks in the wild and security services companies are capable of providing a high degree of security at a cost that companies can afford,” she adds.

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