US Demand for Security Analytics to Reach $18.8B by 2024: F&S

Escalating cyber risks and the shortage of qualified security personnel will spike demand for managed and professional security service providers for better detecting and anticipating breaches, reported Frost & Sullivan Monday. It forecast the U.S. MSS/PSS market will rise to $18.8 billion by 2024, from $12 billion this year. "With customers requesting more proactive security measures to defend against evolving cyber threats, MSS/PSS providers must adopt more advanced security analytics platforms to detect and anticipate the potential threats more effectively," it said. "These new security analytics platforms should feature advanced functionalities, such as forensics and incident response, across the entire systems in different environments, be it on-premises or for cloud-based services."