Managed Security
Service Providers (MSSPs) are platforms that provide customers with continuous
and efficient security monitoring and operation management services. Managed security
services can quickly respond to various security risk events of security
products such as hosts, networks, applications and data, use security
orchestration automation and response technology for intelligent classification
and efficient operation and disposal, and conduct continuous risk monitoring
and leakage monitoring for cloud assets. At the same time, it provides an
emergency guard team for all-weather security guarantees to improve user
operation efficiency.
With the
development of the Internet, more and more companies need to outsource the
security operation and maintenance of their business systems to external
professional security service providers to obtain comprehensive and secure
protection. The service can be divided into virus and spam blocking, intrusion
detection, firewalls, virtual private network management and others, according
to different needs. Among them, intrusion detection accounted for the widest
market, with a market share of 31.54% in 2019.
Whether it is a small or medium-sized enterprise, or a large enterprise, they choose a managed security service provider. In Europe, SMEs are defined as companies with fewer than 250 employees and an annual turnover of not more than 50 million euros, or companies with a total balance sheet not exceeding 43 million euros. Large companies usually employ more than 250 people, with multiple offices at home and abroad. Some multinational companies, such as Wal-Mart, Apple, Amazon, etc., are large companies. Large companies usually have considerable profits, a certain industry position, and relatively large local or international influence. Despite the higher turnover of large companies, there are more SMEs with more total market share, accounting for 57.08% in 2019 in the managed security service provider industry.
After a period of development, the industry is at a growing stage. With the continuous upgrading of products and the development of technology and economy, the market continues to expand. Italy MSSPs has become primarily a competitive market. Some large multinational companies have stepped into the Italian market one after another, using their capital advantages, technical strength and brand effect to strengthen the competitive landscape.
Analysis on the Current situation of MSSPs Industry in Various Regions of Italy
Italy MSSPs companies are mainly from USA; the industry concentrate rate is moderate. The market share of the top five companies in 2019 was 28.08%. The top three companies are IBM, Kaspersky, DXC Technology with the revenue market share of 7.51%, 5.87% and 5.58% in 2019.
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Northern Italy is the most developed and productive region of the country, and one of the regions with the highest GDP per capita in Europe. The leading economic cities such as Milan, Turin and Genoa are all in the north, with outstanding economic advantages and a wide market. Therefore, northern Italy has become the largest revenue market with a market share of 58.49% in 2015 and 57.89% in 2019, with a decrease of 0.60%. However, the economy of central and southern Italy is largely dependent on tourism with a small market. In 2019, they only accounted for 26.14% and 15.97% of the market share in the MSSPs industry, ranking second and third.
The continuous development of cloud computing, social media, wireless connectivity, e-commerce, and big data poses a greater threat to the security of information systems. The protection of the physical and operational layers is no longer sufficient to solve vulnerabilities and attacks. Cyber threats continue to rise, driving the demand for managed security services. In addition, Italian government proposed the first National Cyber Security Framework (NCSF) in 2015, which indirectly encourages companies to actively explore appropriate managed security services.
During the epidemic, due to the rapid development of the Internet, global communication was not greatly affected. Therefore, the COVID-19 outbreak has little impact on the Italian MSSPs industry.
High Market Demand and Wide Prospects for Italy MSSPs
The growth of the Italy MSSPs market is driven by the downstream demand market. The ongoing cybercrime incidents of this country have led large corporations to invest aggressively in cybersecurity services to better address potential threats.
Italian
rapidly growing economy, increasing population, and growing market demand are
playing a positive role in the expansion of the Italy MSSPs market. According
to our research, the Italy MSSPs market has a total revenue of 284.68 M USD
back in 2015, and increased to 498.16 M USD in 2019. We made the prediction
that the value of Italy MSSPs markets can be 1155.40 M USD by 2027. The CAGR of
Italy Managed Security Services Providers is 10.71% from 2019 to 2027.
Maintenance
and operation costs, R&D and labor costs, marketing costs, and equipment
costs in this industry account for 34.41%, 23.79%, 14.98%, and 18.71% of the
cost structure of companies, respectively. This shows the importance of science
and technology for managed security services in Italy, hence technological
innovation advancements will boost the provider market. The production of
higher quality and more affordable products by companies will be one of the
opportunities to expand the market share in the future. At the same time,
competition in new regions is likely to become more intense, which could be a
factor hindering the growth of the market.
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