Managed Security is a network of security services used by organizations to enhance the security infrastructure & reduce the burden from IT teams. These services are conducted either in-house or outsourced by service providers. The adoption of managed services is growing significantly among organizations to track, manage, & supervise several complex software systems. As per a recent research study, the Bahrain Managed Security Market is expecting around 3% CAGR during 2021-26.
For better management of security operations, organizations usually hire third-party service providers since they lack skilled professionals & expertise to handle security threats by themselves. These third-party service providers are termed, Managed Security Service Providers (MSSPs).
The MSSP looks after all the issues in an organization associated with business criticality and addresses them with a robust & reliable cyber security system. The MSSP also assists the organization in building & deploying complex security infrastructures, continuous monitoring, managing platforms & tools, & performing incident response, among other operations.
Emergence of Managed Security Services
Organizations must have a foresighted approach toward building a robust & reliable cyber security system & resist threats & attacks beforehand. Presently, only large entities & multinational companies have sufficient resources to implement cost-competitive & resource-efficient in-house security operations. Tight IT budgets, lack of knowledge, unawareness about the benefits of managed security services, etc., are the prime aspects that have been restraining small & medium enterprises from adopting these services.
Let's not forget that any organization whose primary business is not associated with cyber security will always lack expertise in the field even if they hire skilled IT professionals. Cyber threats are evolving rapidly worldwide and creating severe challenges for companies.
The introduction of new viruses & malware entwined with new firmware & software vulnerabilities is augmenting these threats. Hence, this adds up as another factor supporting the adoption of managed services among organizations.
Top Perks of Managed Security:
Programmatic Security
Enables a standards-based approach to security that provides a reliable, repeatable framework for managing multiple types of security incidents across your systems of choice.
Proactive Managed Security
Managed Security provides benefits like quicker detection of threats, elimination of false alerts, & enhanced response times using technologies like Artificial Intelligence (AI) & Machine Learning (ML), automation & orchestration.
Ongoing Security Insights
These services enable an organization to get tailored insights with the help of visualization & analysis tools to detect threats by informing ongoing security resiliency.
Holistic Threat Management
Issues like intrusion & exfiltration attempts, & malware, among others, are some security incidents that ate addressed in an organization with the help of managed security services.
Automation and AI
The utilization of technologies like AI in Managed Security services also enables the company to have the necessary scaling of security operations & avoid the need for extra personnel.
Summing Up
All the factors cited above indicate that managed security solutions are becoming essential for organizations today & play a critical role in administering business operations of organizations while securing them from data breaches, cyber-attacks, & threats, etc. These services are provided by MSSPs that outsource monitoring & management of devices & systems and reduce the number of operational security personnel to maintain an acceptable security posture. Hence, with the mounting adoption of these services among various organizations in Bahrain, the Managed Security Market is set to witness lucrative growth opportunities in the coming years.