Managed Security Service Provider (MSSP) Market News: 17 June 2022 -

Each business day, MSSP Alert delivers this quick lineup of news, analysis and chatter from across the managed security services provider ecosystem.

The Content: Written for MSSPs, SOC as a Service (SOCaaS), Managed Detection and Response (MDR), eXtended Detection and Response (XDR), threat hunters and MSP security providers — and those who need to partner with such companies.
Frequency and Format: Every business morning. Typically one or two sentences for each item below.
Reaching Our Inbox: Send news, tips and rumors to Editorial Director [email protected]. Thank you in advance for news tips.

A. Today’s MSSP, MDR, XDR and Cybersecurity Market News

.1. M&A and MSP Security: Kaseya is set to host the Connect IT Global 2022 conference starting June 21 in Las Vegas. Will Kaseya complete the Datto acquisition in time for the event? It’s a long shot… but Kaseya CEO Fred Voccola has a habit of making big things happen on his schedule. Either way, we’ll watching for product, platform and strategy updates from Kaseya at the conference. And on the security front, we'll listen for additional clues about how the company is both enhancing its product portfolio while also locking down its code base.

2. SaaS Application Security: Will SaaS application security become as ubiquitous as PC anti-virus software? That’s the thesis from SaaS Alerts CEO Jim Lippie. We’ll share more perspectives soon.

3. Building a Cyber Platform: CyberFox already develops password management and privileged access management (PAM) software for MSPs. That organic R&D work will continue. But take a closer look, and you may hear some rumors about CyberFox quietly building additional cybersecurity solutions for MSPs. The company is led by ConnectWise co-founder and former CEO David Bellini. We’ll share more details soon.

4. SOC as a Service – Market Forecast: The SOC as a Service market will reach $10.1 billion in 2027, up from $6.1 billion in 2022. That’s a compound annual growth rate (CAGR) of 10.5%, according to MarketsAndMarkets. Still, the SOCaaS market definition can be confusing since the solutions can often involve pure software options, SOC analysts for hire, or a mix of solutions.