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Dynamic Threat Landscape Urges European Organizations to Turn to Managed & Professional Security Services

Financial services will remain the largest contributor to the European MSS/PSS market until 2024, finds Frost & SullivanSANTA CLARA, Calif., July 29, 2021 /PRNewswire/ --A Increasing cyber-threats coupled with a shortage of cybersecurity professionals in Europe is compelling organizations to turn toward managed and professional security services (MSS/PSS) companies. Frost & Sullivan's recent analysis, European Managed & Professional Security Services Market, reveals that the dynamic threat landscape requires security vendors to look for efficiencies and invest in new technologies incorporating automation such as breach and attack simulation (BAS) platforms. Despite being fragmented, the European MSS/PSS market is estimated to reach $10.92 billion by 2024 from $8.50 billion in 2021. This study includes revenue forecast by region, vertical, and enterprise size, growth drivers, key trends, and insights for chief information security officers (CISOs).
Dynamic Threat Landscape Urges European Organizations to Turn to Managed & Professional Security Services
For further information on this analysis, please visit: https://frost.ly/631"Financial services is the largest contributor to the European MSS/PSS market, accounting for 26.4% of total market revenue in 2020, and will remain the largest revenue contributor till 2024," said Piotr Kopczynski, Security Research Analyst at Frost & Sullivan. "The manufacturing sector, the second-largest contributor to the market, has witnessed a significant increase in the MSS/PSS penetration rates over the past three years as a result of increasingly high-profile attacks that halted production and negatively impacted revenues for affected organizations."
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