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TMCNet:  Frost & Sullivan: Increasing Number and Complexity of Cyber Attacks Strengthens Need for Managed Security Services in Latin America

[February 05, 2013]

Frost & Sullivan: Increasing Number and Complexity of Cyber Attacks Strengthens Need for Managed Security Services in Latin America

SAO PAULO, Feb. 5, 2013 /PRNewswire via COMTEX/ -- The spike in damaging cyber attacks and the publicity it has received is making enterprises in Latin America more conscious of their vulnerability and the need to better handle security requirements. Growing realization that security services are a valuable investment and that third party vendors have the expertise and the infrastructure to ward off sophisticated attacks will sustain growth in the managed security services (MSS) market in the region.

New analysis from Frost & Sullivan (http://www.ITservices.frost.com), Latin American Managed Security Services Markets, finds that the market earned revenues of over $331.9 million in 2012 and estimates this to reach $646.2 million in 2017. The study covers technologies such as firewall, virtual private network (VPN), network assessment, penetration testing, intrusion prevention and detection (IPS/IDS), anti virus, anti spam, and filter content.

Business models shifting towards virtualization and mobility require advanced security measures that only specialist vendors can provide.

"Web applications and mobile devices have become the vehicle of choice for attacks, making it easier for security to be compromised and compelling companies to outsource their security services to efficient third party service providers," said Frost & Sullivan Research Analyst Bruno Tasco. "Employees using their personally-owned devices for work-related activities have increased security liabilities over which companies do not have control, representing added opportunities for providers." Information security regulations by Latin American governments will also force end users to fortify their security capabilities, opening new avenues for service providers. The region's healthy economic growth has attracted players from other regions to expand their businesses in Latin America, further enhancing the scope of the MSS market.

However, the perception that managed security solutions do not offer significant returns hampers market growth. The difficulty in calculating the potential losses of a foiled attack means that clients see the explicit costs and miss the implicit benefits of MSS. This affects firms' decision to hire or continue security services and often companies, which have not yet been victims of attacks, fail to recognize the need for security services.

"This reactive demand has led MSS providers to focus on the chief targets of cyber attacks, especially the application, mobile, and cloud segments," concluded Tasco. "Nevertheless, basic services such as firewall and VPN will remain the most popular in the region, and penetration testing and assessment services will grow the fastest." If you are interested in more information on this research, please send an email to Francesca Valente, Corporate Communications, at francesca.valente@frost.com, with your full name, company name, job title, telephone number, company email address, company website, city, state and country.

Latin American Managed Security Services Markets is part of the IT Services Growth Partnership Services program. Frost & Sullivan's related research services include: IT Infrastructure Outsourcing Services Markets: Brazil, Argentina, Chile; IT Infrastructure Outsourcing Services Markets: Mexico, Colombia & Venezuela. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

-- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.

-- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies Contact Us: Start the discussion Join Us: Join our community Subscribe: Newsletter on "the next big thing" Register: Gain access to visionary innovation Latin American Managed Security Services MarketsNB75-72 Contact:Francesca ValenteCorporate Communications - Latin AmericaP: +54 11 4777 5300F: +54 11 4777 5300E: francesca.valente@frost.com http://www.frost.com SOURCE Frost & Sullivan http://rt.prnewswire.com/rt.gif NewsItemId=DA54784&Transmission_Id=201302051417PR_NEWS_USPR_____DA54784&DateId=20130205

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