Commissioned by LogicHub
Published June 2022
The managed cybersecurity services market is undergoing a significant shift. Organizations are upgrading from Managed Security Service Providers (MSSPs) and legacy security tools that aggregate alerts to action-oriented Managed Detection and Response (MDR) services.
Although detection remains a core capability, the expanded multi-pronged value proposition adds automated response capabilities and access to seasoned cybersecurity professionals, both of which enable organizations to address talent shortages and budget constraints.
Key findings include:
- Almost 60% of respondents experience false positive rates higher than 25%, wasting enormous amounts of analyst time. Only 14% report their false positives rates are below 10%.
- The number of security tools expected to be deployed in the next 12 months will grow over 80% driven by the increased use of disparate cloud applications.
- Almost 60% find it is not easy to recruit or retain security staff with the right skills.
- 79% of legacy MSSP users plan to upgrade to MDR services, while 12% have already done so.
- While 30% of respondents already use MDR services, another 42% plan to move to MDR in the next 12 months – an increase of 140%.
- Key reasons cited for adopting MDR includes augmenting existing security teams, automating response capabilities, improved threat detections, support for cloud services, and the need for 24/7 security operations.