Seventh annual list reveals leading MSSP, MDR and MSP security companies expect strong revenue growth in 2023 vs. 2022
26 September 2023 – norm., the award-winning managed security service provider for mid-sized organisations, ranks among the Top 250 MSSPs (https://www.msspalert.com/top-250) for 2023, according to MSSP Alert, a CyberRisk Alliance resource.
The Top 250 MSSPs honourees were announced in a live webcast on September 14.
- The complete list and research report are available here: https://www.msspalert.com/top-250
- The on-demand webcast will be available to watch here: https://www.msspalert.com/webcasts
Key findings include:
- MSSP Revenue Growth & Financial Performance: MSSP honourees, on average, expect to generate $56.3 million in revenue for 2023, more than double the number from the 2022 report. However, the 2023 Top 250 reported 2022 revenues averaged $47 million.
- Geography: Honourees are headquartered in 37 different countries.
- Profits: 87% of MSSPs surveyed expect to be profitable for fiscal year 2023.
- Security Operations Centres: 67% have in-house SOCs, 23% are hybrid, 8% completely outsource their SOCs, and 1% are reevaluating their SOC strategies.
- Cyberattack Trends: The most frequent attacks targeting MSSP customers in 2023 include phishing (95%), vulnerability exploits (91%) and ransomware (86%).
- Cybersecurity Solutions: Larger MSSPs were more likely to run their SOC entirely in-house (85%) while just half of our smaller segment MSPs ran their SOCs in-house and 33% took a hybrid approach (a portion in-house and a portion outsourced.)
- Key Managed Security Services Offered: Almost all of the larger MSSPs (90%) provided 24/7 security event monitoring and response for threat detection use cases on their own. While 61% of the smaller MSSPs provided these services on their own, 35% partnered with another company for these services and 4% of the smaller MSSPs did not offer them at all.
norm. was ranked among the Top 250 MSSPs for 2023.
“We are proud to be named on this influential list and be recognised for our efforts to make enterprise-grade managed security services available and affordable for the mid-market,” said Pete Bowers, COO at norm. “Mid-sized organisations are bombarded by millions of cyber threats each month, so it’s no surprise that many decision-makers can feel powerless in the face of it all. It’s rewarding to see that through our work here at norm., we are helping more and more companies cut through this noise and take control of their cyber resilience.”
“MSSP Alert and CyberRisk Alliance congratulate norm. on this honour,” said Jessica C. Davis, editorial director of MSSP Alert, a CyberRisk Alliance resource. “The Top 250 MSSPs continue to outperform the overall cybersecurity services market in 2023. It’s an indication of the strength of managed security services provided by these specialists at a time when cybercrime has accelerated and threatens businesses of every size and from every industry.”
MSSP Alert’s Top 250 MSSPs list and research report are overseen by Jessica C. Davis, editorial director, MSSP Alert and ChannelE2E.
Click here to download the list and associated report.
In contrast to traditional, technology-focused deployments, norm. combines 24x7x365 managed cyber security protection from its UK-based SOC, with penetration testing, continuous cybersecurity awareness training and support for certification, compliance and incident response, aided by its team of legal experts. norm.’s managed security services are easy to deploy, flexible to scale (companies can sign up for modules or the complete service) and cost 70% less than an in-house function.
Established in 2015, NormCyber is a company on a mission to provide mid-sized organisations with complete visibility and total control over cyber risk, without the hassle of managing it themselves. Its client list includes businesses in the finance, banking and insurance, logistics and supply chain, and retail and consumer goods industries, amongst others.
With a customer retention rate of over 98 percent, NormCyber offers a true eyes-on-screen 24x7x365 UK-based Security Operations Centre. It also adheres to the highest information security standards including Cyber Essentials Plus, ISO 27001, and is both CREST-certified and PCI-DSS accredited. normcyber.com
About CyberRisk Alliance
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