Materna Radar Cyber Security is named in MSSP Alert’s 2023 List of Top 250 MSSPs. Seventh annual list reveals world’s leading MSSPs and security companies.
Materna Radar Cyber Security ranks among the Top 250 Managed Security Service Providers (MSSP) for 2023, according to MSSP Alert, a CyberRisk Alliance resource. Materna Radar Cyber Security was ranked among the Top 10 of Europe’s most successful MSSPs. Becoming part of Materna group, based in Germany, and bundling all security competencies within the corporation as well as the main focus on SOC Services operated in Europe had a substantial impact on the ranking. Dr. Christian Polster, Managing Director of Materna Radar Cyber Security states about the award:
“We are very proud of being listed among the Top 10 of European Managed Security Service Providers with our own Security Operations Center. Materna Radar Cyber Security with its specialists became a widely trusted knowledge hub in the area of cybersecurity. We are known for scaling and adjusting to our customer needs and their industries with regards to the current threat landscape. Clearly that is what pays into our success.
“We at MSSP Alert and CyberRisk Alliance congratulate Materna Radar Cyber Security 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.”
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.
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.
