Seventh annual list reveals leading MSSP, MDR and MSP security companies expect strong revenue growth in 2023 vs. 2022
Konica Minolta Business Solutions (Canada) Ltd. (Konica Minolta) today announced it ranks among the Top 250 MSSPs for 2023, according to MSSP Alert, a CyberRisk Alliance resource.
“Konica Minolta’s IT security solutions protect our clients’ systems, networks and devices that power their businesses, keeping their data safe and defending against future attacks,” said Todd Croteau, President, Global Information Technology Services, Konica Minolta. “We appreciate this recognition of our work from MSSP Alert, and applaud our team for its unwavering dedication to security.”
Key findings of this year’s research report include:
- MSSP Revenue Growth and Financial Performance: MSSP honourees, on average, expect to generate $56.3 million in revenue for 2023, more than double the number from our 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 Centers: 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 the 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.
“MSSP Alert and CyberRisk Alliance congratulate Konica Minolta 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. The Top 250 MSSPs honourees were announced in a live webcast on September 14. The complete list and research report are available here.
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