Managed Security Market to Reach $1.7 Billion by 2005

A new report by the Yankee Group predicts that managed security services market revenue will soar to $1.7 billion by 2005. According to the report, the market earned $400 million in 2000. Yankee considers managed security services to include services such as ongoing management of firewalls, VPNs, intrusion detection, virus scanning, Web-site security assessments, monitoring, applet scanning, content inspection, and URL blocking.

Yankee attributes its growth predictions to the fact that many other companies don't have the resources needed to handle security thoroughly. The report points out that companies frequently aren't able to adequately assess new security products, integrate them into their networks, and manage those products to ensure their effectiveness over time.

"Companies realize that they are not security companies and do not possess the core competencies to implement a holistic approach to security, and that they should remain in the business for which they were created," said Matthew Kovar, director of the Yankee Group's Security Solutions & Services research and consulting practice. "As a result, companies are embracing managed security service outsourcing as key to their future success."

The report, titled "Carrier-Independent Managed Security Services: A Secure Boom in the Wild Stormy Seas of Managed Security Services," is available from the Yankee Group as part of its research and consulting services.

TAGS: Security
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