The Growth Trajectory of Managed IT Security Services

managed IT services

Managed IT security services have become one of the highest-demand professional capabilities we offer, with an estimated growth rate between now and 2031 indicating an average market expansion of 7.49% – year on year.

Within the next seven years, the international managed security services market will be worth over one hundred billion dollars, owing to the need for high-quality, robust protection and threat detection across almost every sector and industry.

Part of the vast surge in demand is attributed to recent technological advancements. An increasing number of applications, AI-enabled technologies, and devolved working structures have put increased pressure and complexity on companies to manage their digital security risks. Other factors include the expansion of services and products into emerging economies, where threat controls are less established or known.

In this article, we’ll clarify exactly what managed IT security means, why it is such a sought-after specialism, and when and why you may wish to consider outsourcing your IT security to our specialist team.

Managed Security Services Explained

We often speak with businesses of all sizes who are confused by the contrasts between managed IT support and managed IT security; this is entirely understandable.

In many cases, we combine both services, ensuring our clients benefit from a wide range of support, assistance, network administration, security monitoring, and consultancy advice.

Blending security into a managed support package is an ideal solution for fast-growing businesses and those in rapidly scaling markets. These businesses need a secure, stable, and highly reliable method of controlling new threats and existing vulnerabilities while focusing on innovation.

As a quick summary, these two distinct but often combined services differ as follows:

  • Managed IT services involve outsourcing specific responsibilities or tasks to a third-party IT service provider, who will take over monitoring systems and networks, providing technical support and troubleshooting, and carrying out ongoing system and software administration tasks.
  • Managed security is focused more on cybersecurity and threat hunting, often excluding more generalised aspects of IT management. It is concerned primarily with risk management and mitigation.

Rather than needing to choose one service or the other, we believe that comprehensive IT assistance can be the best possible option, where companies place equal importance on infrastructure management, IT strategy, cloud-computing transitions and cybersecurity, without compromising in any area.

However, for those new to managed security services (sometimes abbreviated to MSSPs), this can involve targeted action to protect data, secure digital assets, monitor systems, and remain vigilant against cyber-attacks and suspicious activity.

Key Aspects of a Managed IT Security Service

Every business and enterprise may have varying priorities, but the rising frequency of cyber threats, the growing volume of ransomware, the increasing amounts of data companies collect and store, and the evolution of data protection regulations have all contributed to the demand for managed IT security.

Depending on the company, the elements of managed IT security they deem most important might include:

As always, the right managed security services will vary between businesses, based on the size of the organisation, the scope of its requirements, and any sector-specific concerns—ranging from general IT security monitoring for smaller and medium-sized companies to dedicated IT cybersecurity for larger corporations.

The Latest Trends in Outsourced Managed IT Security

As we’ve noted, the big news is that, alongside the substantial growth in this IT subsector, managed security is also expected to become the most prominent segment within cybersecurity within just the next three years, according to data analyses.

Companies predominantly choose to outsource cybersecurity services to ensure they are prepared against all eventualities, especially where new capabilities like AI have compounded threats or made advancements in sophisticated cyber-attacks more likely and common.

Last year, as many as 74% of successful cyber breaches occurred due to some element of human error, whether because colleagues didn’t recognise a threat, clicked inadvertently on a malicious link, or permitted third-party users to bypass access controls.

Many of these attacks are also attributed to misuse of access privileges, theft of login credentials, and social engineering, showcasing the many and expanding number of ways cybercriminals skirt controls and try to gain access to data, resources, and assets.

Understanding the Soaring Demand for Professional Cybersecurity

Part of the reason countless businesses of all sizes are choosing to outsource managed IT security to expert providers is that there are significant and long-standing shortages of cybersecurity technicians with the requisite skills, knowledge, and experience.

High demand coupled with scarcity means many organisations find that the budget required to attract and retain the best talent in the tech security field is simply unviable – and even then, could leave them with vulnerabilities depending on the scope of capabilities one in-house professional could provide.

For most, the assurances of outsourced IT security services include the peace of mind that a full-service team of engineers and technicians has complete oversight of their systems and can offer cost-effective, around-the-clock protection from new and emerging threats.

The ideal, particularly for organisations keen to outsource other aspects of digital security, such as data safeguarding and risk mitigation, is to consider a comprehensive package where Jera can offer general IT management, helpdesk support, consultancy services, and continual cybersecurity monitoring.

This solution ensures that businesses can tap into any IT expertise they need, with managed networks and systems, risk controls, and real-time threat mitigation, giving the company the time and space to focus on other key areas of its operations.

For more information about managed IT security, combined IT support packages, or the best strategic approaches to analysing and mitigating your exposure to cybersecurity threats, please contact Jera at any time to arrange a good time to talk.