Trustwave has nabbed a position as a ‘Leader’ in Gartner’s 2018 magic quadrant for worldwide managed security services, a report that assessed 17 managed security service providers (MSSPs).
Trustwave was previously positioned as a Challenger in the 2017 version of the report, marking its first appearance in the report.
While based in Chicago, the MSSP has offices in Sydney, São Paulo and London and has customers in a total of 96 countries.
Trustwave chief executive officer and president Robert J. McCullen says, “We feel that our placement in this Leaders quadrant is a testament to the significant strides Trustwave has made in the managed security services space.
“We believe Trustwave was named a Leader based on its ability to scale complex security services for midsize and large enterprise organizations, our continued growth, and strategic vision to address an evolving threat landscape.”
Trustwave put the recognition down to few key points, namely the work the company doing in expanding services, building partnerships, enhancing its channel program.
The company says it has added a number of key global distribution partners in recent times, building on a current portfolio of telco partnerships including a local partnership with Optus Business.
It also updated its channel program by incorporating training regimens and curriculums designed to help resellers better understand customer security challenges and articulate advantages offered through the managed security services model.
McCullen adds, “As cybercrime continues to proliferate across all major sectors globally, enterprise IT and security teams face tremendous pressure to optimize resources to keep pace with rapidly evolving adversaries and attack methods.
“From our view, this report recognizes our committed approach to defend enterprises by combining superior security technologies with unprecedented threat intelligence and battle-tested security experts.”
In terms of market growth and stability, the Gartner report notes expected continual growth for MSS looking forward.
“The MSS market is growing at a healthy double-digit rate — in 2016, the market grew 10% to reach $9.4 billion in revenue (see "Market Share Analysis: Managed Security Services, Worldwide, 2016"), and Gartner expects this growth rate to be in the 15% to 17% range for 2017,” the report reads.
“The MSS market constitutes approximately 60% of the overall security outsourcing market that will generate $18.7 billion revenue in 2017, growing at a CAGR of 11% through 2021.”