MSSP Alert, published by After Nines Inc., has named Radar Cyber Security to the Top 250 MSSPs list for 2021. It is company’s third time participation. The list and research by MSSP Alert identify and honor the top MSSPs, managed detection and response (MDR) and Security Operations Center as a Service (SOCaaS) providers worldwide.
The rankings are based on MSSP Alert’s 2021 readership survey combined with the digital media site’s global editorial coverage of managed security services providers. The fifth-annual list and research report track the managed security service market’s ongoing growth and evolution.
“After Nines Inc. and MSSP Alert congratulate Radar Cyber Security on this year’s honor,” said Amy Katz, CEO of After Nines Inc. “Amid continued ransomware, malware and supply chain cyber attacks, the MSSP Alert readership and community continues to mitigate risks for businesses and government organizations worldwide.”
Highlights from the associated MSSP Alert research include:
MSSP Revenue Growth & Financial Performance: MSSP honorees, on average, expect to generate $22.3 million in revenue for 2021, up 16% from $19.2 million in 2020. The growth rate remains consistent with last year’s report.
Geography: Honorees are headquartered in 26 different countries.
Profits: 85% of MSSPs surveyed expect to be profitable for fiscal year 2021, which is roughly even with 2020.
Security Operations Centers: 71% have in-house SOCs, 19% are hybrid, 8% completely outsource their SOCs, and 2% are reevaluating their SOC strategies.
Cyberattack Trends: The most frequent attacks targeting MSSP customers in 2021 include vulnerability exploits (87%), phishing (96%), and ransomware (89%) incidents.
Cybersecurity Solutions: In a continued sign of market fragmentation, MSSP survey participants mentioned 130 different hardware, software, cloud, and services vendors that assist their cybersecurity efforts — roughly even with our 2020 report.
New Managed Security Services Offered: In addition to traditional managed security services, capabilities such as MDR (91%) have now gone mainstream. Plus, fast-growth services offered include SOC as a service (76%), XDR (67%), cyber talent as a service (43%) and cloud security posture management (41%).
About After Nines Inc.
After Nines Inc. provides timeless IT guidance for strategic partners and IT security professionals across ChannelE2E and MSSP Alert. ChannelE2E tracks every stage of the IT service provider journey — from entrepreneur to exit. MSSP Alert is the global voice for Managed Security Services Providers (MSSPs).
