The cybersecurity world is anything but quiet – almost every day, you hear something new.  Managed Security Service Providers (MSSPs) are on the front lines, helping businesses fight off these threats, but it’s not without its hurdles. From rising costs to skill shortages, every MSSP must balance protecting their clients while keeping up with industry shifts. Based on recent stats, the industry is buzzing with opportunities and challenges, some of which might surprise you.

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The Basics

The chart illustrates the different approaches MSSPs take with their security tool usage. A good 60%, employ a comprehensive stack, using various tools to address multiple cybersecurity challenges. Meanwhile, 20% of MSSPs utilize advanced security solutions, focusing on specialized, cutting-edge technologies to tackle more complex threats. The remaining 20% opt for a minimal toolset, prioritizing simplicity and cost-efficiency. These statistics reveal the range of strategies MSSPs adopt, from those that aim for extensive, layered protection to those that emphasize streamlined security solutions.

Another interesting but obvious number is that 85% of MSSPs rely on Endpoint Detection and Response (EDR) as a core component of their endpoint protection strategy. This significant majority highlights how EDR has become a dominant feature within MSSP security stacks, likely due to its ability to provide advanced threat detection, real-time monitoring, and rapid response capabilities. As threats targeting endpoints continue to evolve, the reliance on EDR demonstrates its critical role in safeguarding client environments from potential attacks.

Network Security: The Backbone of MSSP Offerings

Ever since I can remember, Managed Security Service Providers (MSSPs) have strongly emphasized investing in network security. 75% of MSSPs prioritize network security, making it a fundamental service in their portfolio. Network Detection and Response (NDR) tools play a crucial role in securing network infrastructure by identifying and neutralizing cyber threats before they cause harm. It’s not surprising that MSSPs are heavily investing in this area, considering that cybercriminals frequently target networks.

Email Security – Still Lagging Behind

Interestingly, even though email is a widespread way to breach an organization, email security measures are still lagging behind. Currently, only 55% of MSSPs provide email security services. However, for those aiming to distinguish themselves and offer more to their clients, providing comprehensive email security could be the competitive edge they are seeking.

UBA: User Behavior Analytics

User Behavior Analytics (UBA) is quickly gaining traction, with 40-60% of MSSPs leveraging it to monitor suspicious activities. Why the growth? UBA helps MSSPs detect anomalies in user behavior, flagging potential insider threats or compromised accounts before they cause damage. By keeping an eye on user behavior patterns, MSSPs can offer clients an additional layer of proactive protection, making UBA an increasingly valuable part of the security stack.

Mobile Protection: An Overlooked but Growing Need

Mobile devices are everywhere, yet only 25-35% of MSSPs offer mobile security solutions. This is surprising given how much sensitive data moves through smartphones and tablets daily – especially in today’s BYOD world. While mobile protection is less common in MSSP offerings, it’s becoming increasingly important as mobile threats grow. MSSPs that jump on this opportunity early will have a unique edge in protecting a major vulnerability many still overlook.

The Cloud and SaaS Craze: A Double-Edged Sword

It’s no secret that SaaS and cloud services have taken over the IT world, with 50-70% of MSSPs now focusing on SaaS and cloud security. With so many businesses shifting to the cloud, it’s great news for MSSPs offering these services. But with this increased demand comes the need for advanced tools to keep data safe. Protection solutions like Cloud Security Solutions (CCSM) and Secure Cloud Solutions Management (SCSM) are in high demand, making them critical components for any MSSP’s toolbox.

The Rise of MDR: Managed Detection and Response

Managed Detection and Response (MDR) is becoming a staple in cybersecurity, with 40-60% of MSSPs now offering these services. Why the surge in popularity? As cyber threats grow more sophisticated, prevention alone is no longer enough. MDR allows MSSPs to actively monitor, detect, and respond to potential threats in real-time, providing clients with a much-needed safety net. It’s not just about having the right tools—MDR ensures that MSSPs can respond swiftly and decisively to any security incident, making it a key selling point for security-conscious customers.

Data Breaches and Customer Expectations

A staggering 87% of MSPs have experienced a data breach in the past year – a number that should make every MSSP pause. As customers become more aware of the dangers, 73% of MSPs report an increased demand for security services. In fact, 65% of customers now expect their MSP to handle not just IT but also their cybersecurity infrastructure. If you’re an MSSP that’s not meeting these expectations, your clients might start looking elsewhere.

Ransomware, Inflation, and Everything In Between

When asked about their biggest threats, 43% of MSSPs cited ransomware or malware as their top concern. But the challenges go beyond cyber threats. Inflation, spiraling costs, and supply chain issues also loom large. The cost of doing business is increasing, but at the same time, MSSPs need to invest more in their security tools and talent to keep up with demand.

How Cynet Can Help

This is where Cynet’s All-in-One platform steps in. We get it – the challenges are mounting, and managing multiple tools and services is a balancing act that can get out of hand quickly. Cynet simplifies all of that. With our platform, you can streamline operations, reduce overhead, and give your clients the advanced security they expect – all from a single, easy-to-manage solution. Whether it’s network security, endpoint protection, email protection, mobile security, UBA, or MDR, Cynet’s got you covered.

Ready to turn these challenges into opportunities? Schedule a demo today and let us show you how Cynet can take your MSSP offering to the next level.