SINGAPORE – December 5, 2011 – Symantec Corp. today announced that it has been positioned by Gartner Inc. in the Leaders Quadrant of the 2011 Magic Quadrant for Managed Security Service Providers (MSSPs) North America report. In addition, Symantec received "Strong Positive" ratings in Gartner’s MarketScope Reports for Managed Security Services in both Europe and Asia/Pacific. Symantec Managed Security Services combine global threat intelligence, enterprise-wide monitoring, advanced analytics and expert staff to protect enterprises around the world from known and emerging threats.
"With more sophisticated cyber attacks coming from outside the enterprise and evolving IT infrastructure on the inside, the risk of information loss is rising. More than ever, organizations recognize the need to actively monitor their environments for signs of malicious activity to ensure their information is safe," said Grant Geyer, vice president of the Threat and Risk Management Group at Symantec. "We believe our position as a leader in the Gartner Magic Quadrant for MSSPs and our ‘Strong Positive’ ratings in the MSS MarketScopes for Europe and Asia/Pacific confirm Symantec’s strong vision and sustained global commitment to protecting our customers’ assets and information."
"Gartner sees continued strong, if not spectacular, growth for managed security services (MSSs) in North America," notes the Magic Quadrant report, which positions vendors based on their ability to execute and completeness of vision. "Compliance requirements (formal and those created by large business partners or customers) continue to drive MSS adoption, especially for midsize and smaller businesses. Across buyers of all sizes, an inability to increase head count, greater acceptance of outsourcing IT activities, and implementation of additional security technologies or controls such as data loss prevention (DLP) or application monitoring also drive MSS."
According to the report, MSSPs realized North American revenue of $2.3 billion in 2010, up from $1.8 billion in 2009. The report predicts MSS revenue will have grown to $2.8 billion in 2011. The report also states that the global economic environment continues to drive businesses to limit hiring and increase demand for managed services.
"Managed security services are mature, but buyers must carefully define the scope and depth of services required, and assess the delivery capabilities and options available from providers," notes the Magic Quadrant report. "Enterprises that optimize their use of managed security service providers (MSSPs) can free up internal staff time for dealing with more-business-critical security functions if they select MSSP services that can integrate with internal security operations."
In addition, according to the MarketScope Reports for MSS in Europe and Asia/Pacific, the markets for MSS have grown in both regions, despite continuing global economic instability. During the past 12 months, the European MSS market grew as anticipated, and will probably reach $2.5 billion by year-end 2011. Gartner expects growth to continue, with a compound annual growth rate of 14 percent from 2011 to 2015, which means it is still one of the growth sectors in the IT industry. In Asia/Pacific, adoption of MSSs in the region has continued to grow, producing an average 18 percent revenue growth in 2010 (a decrease from 31 percent in 2009) to an approximate total revenue of $558 million as reported by MSSPs active in the region.
"The continuing global economic turmoil has discouraged enterprises from capital investment in security infrastructure and additional personnel costs for new security staff," notes the MarketScope for MSS in Asia/Pacific. "Gartner does not anticipate strong growth in overall IT spending in client organizations in the next 18 months. This fiscal conservatism has motivated a number of enterprises to leverage MSS to support security improvements, continuing regulatory compliance and service expansion for business operations. Gartner expects that continuing uncertainties in the global economy will reinforce this trend, with the direct result of stronger growth in MSS client numbers and revenue."
Symantec MSS delivers 24x7 security monitoring and management services by expert security staff to organizations around the world. Symantec MSS takes a comprehensive, "edge to endpoint" monitoring approach to provide broad visibility of activity across an enterprise’s infrastructure, and leverages threat intelligence from the Symantec Global Intelligence Network and advanced correlation and analysis capabilities to deliver a prioritized list of actionable security incidents to enterprise security teams.
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