The skills gap continues to challenge organizations’ ability to fulfill their evolving cybersecurity requirements. Tripwire confirmed this back in 2020 when it partnered with Dimensional Research to survey 342 security professionals. Indeed, 83% of respondents told Tripwire that they felt more overworked going into 2020 than they did a year earlier. Approximately the same percentage said that their teams were understaffed and that it had become more difficult over the years to hire skilled security professionals at 82% and 85%, respectively.

In mid-2021, the Information Systems Security Association (ISSA) and analyst Enterprise Strategy Group (ESG) revealed that the skills gap had not changed in a year and a half. Their joint survey of 489 cybersecurity employees entitled “The Life and Times of Cybersecurity Professionals 2021” found that more than half (62%) of survey participants were dealing with a heavier workload than in years past. This was followed by unfilled positions and worker burnout at both 38%. Overall, 95% of respondents articulated their belief that the skills gap had not improved in recent years.

Where the Skills Gap Leaves Organizations

In response to the skills gap discussed above, organizations are looking externally to satisfy their security needs. Many are turning to managed service providers (MSPs) specifically. Illustrating this point, Cybersecurity Ventures wrote in August 2020 that the global market for managed cybersecurity services was expected to grow to $46.4 billion by 2025. Similarly, MSSP Alert predicted that 77% of cybersecurity spending will go to managed services by 2026.

These findings raise the following question: what exactly are MSPs?

Essentially, MSPs are organizations that help their customers to keep up with compliance requirements and administer a broad range of tools with the expertise to reap their full potential. Such entities provide several benefits to their customers. Provided below (Read more...)