target audience: TECH SUPPLIER Publication date: Jul 2023 - Document type: Market Perspective - Doc Document number: # US51018323
The Security Service Providers' Balancing Act — Broad Opportunity Across Industries, Geographies, Cybersolutions, and Regulatory Concerns
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Abstract
This IDC Market Perspective discusses and reflects on the results of interviews that IDC had with 20 security service providers (SPs) in the spring of 2023. This process was undertaken to understand the needs of their customers and the market dynamics that are impacting the security services market. Many of the drivers and concerns are "evergreen" topics, but the perspective changes over time due to increased security threats and new technologies that are meeting these challenges.
"Security concerns for the enterprise have not significantly diminished over the last year, and therefore, the growing security services market is the gift that keeps on giving for security SPs worldwide," said Scott Tiazkun, research manager, Worldwide Security Services at IDC. "Security services that are both preventative and remedial present an attractive offering to enterprises that are dealing with talent challenges. But security SPs need to bear in mind that IT budgets, even for security, are not unlimited, so demonstrating value for money is an astute go-to-market strategy."