Ballast Services ranks among the Top 250 MSSPs for 2023, according to MSSP Alert, a CyberRisk Alliance resource.
TAMPA, FLORIDA, USA, September 19, 2023/EINPresswire.com/ — Ballast Services ranks among the Top 250 MSSPs (https://www.msspalert.com/top-250) for 2023, according to MSSP Alert, a CyberRisk Alliance resource.
The Top 250 MSSPs honorees were announced in a live webcast on September 14.
• The complete list and research report are available here: https://www.msspalert.com/top-250
• The on-demand webcast will be available to watch here: https://www.msspalert.com/webcasts
Key findings include:
• MSSP Revenue Growth & Financial Performance: MSSP honorees, on average, expect to generate $56.3 million in revenue for 2023, more than double the number from our 2022 report. However, the 2023 Top 250 reported 2022 revenues averaged $47 million.
• Geography: Honorees are headquartered in 37 different countries.
• Profits: 87% of MSSPs surveyed expect to be profitable for fiscal year 2023.
• Security Operations Centers: 67% have in-house SOCs, 23% are hybrid, 8% completely outsource their SOCs, and 1% are reevaluating their SOC strategies.
• Cyberattack Trends: The most frequent attacks targeting MSSP customers in 2023 include phishing (95%), vulnerability exploits (91%) and ransomware (86%).
• Cybersecurity Solutions: Larger MSSPs were more likely to run their SOC entirely in-house (85%) while just half of our smaller segment MSPs ran their SOCs in-house and 33% took a hybrid approach (a portion in-house and a portion outsourced.)
• Key Managed Security Services Offered: Almost all of the larger MSSPs (90%) provided 24/7 security event monitoring and response for threat detection use cases on their own. While 61% of the smaller MSSPs provided these services on their own, 35% partnered with another company for these services and 4% of the smaller MSSPs did not offer them at all.
Ballast Services was ranked among the Top 250 MSSPs for 2023.
“Ballast is honored to be recognized as a TOP 250 MSSP for the third consecutive year”, said Leslie Rudolph, Co-Founder and Chief Operating Officer at Ballast Services. “We have seen significant growth in our cybersecurity managed services as organizations continue to struggle with the complexity of securing their business from attackers. Our comprehensive and refined approach to cybersecurity enables our clients to get secure quickly and effectively.”
“MSSP Alert and CyberRisk Alliance congratulate Ballast Services on this honor,” said Jessica C. Davis, editorial director of MSSP Alert, a CyberRisk Alliance resource. “The Top 250 MSSPs continue to outperform the overall cybersecurity services market in 2023. It’s an indication of the strength of managed security services provided by these specialists at a time when cybercrime has accelerated and threatens businesses of every size and from every industry.”
MSSP Alert’s Top 250 MSSPs list and research report are overseen by Jessica C. Davis, editorial director, MSSP Alert and ChannelE2E.
Click here to download the list and associated report.
About Ballast Services
Ballast Services is a leading security-focused technology solutions provider. The company offers a wide range of executive advisory, professional and managed services that improve the security, availability, and reliability of technology, while consistently optimizing customer IT financials. Ballast’s mission is to modernize, optimize, stabilize and secure customer technology environments. For more information about Ballast Services, or to contact us, please visit https://www.ballastservices.com.
About CyberRisk Alliance
CyberRisk Alliance (CRA) is a business intelligence company serving the high growth, rapidly evolving cybersecurity community with a diversified portfolio of services that inform, educate, build community, and inspire an efficient marketplace. Our trusted information leverages a unique network of journalists, analysts and influencers, policymakers, and practitioners. CRA’s brands include SC Media, Security Weekly, ChannelE2E, MSSP Alert, InfoSec World, Identiverse, Cybersecurity Collaboration Forum, its research unit CRA Business Intelligence, the peer-to-peer CISO membership network, Cybersecurity Collaborative, the Official Cyber Security Summit, TECHEXPO Top Secret, and now LaunchTech Communications. Click here to learn more.