MSSP Alert Top 250 for 2024: A Deep Dive into the State of Cybersecurity

Meta Description: Discover the key findings from the 2024 MSSP Alert Top 250 report. Explore trends in MSSP growth, profitability, in-house SOCs, and the critical services defining modern cyber defense.

Unpacking the 2024 MSSP Alert Report: Key Trends Shaping the Future of Managed Security

In an era defined by digital transformation, the corresponding evolution of cyber threats has made cybersecurity a paramount concern for organizations of all sizes. The newly released MSSP Alert: Top 250 MSSPs 2024 Edition, an authoritative report from CyberRisk Alliance, offers an unparalleled view into the dynamic world of managed security service providers (MSSPs). It serves as an essential guide for business leaders seeking to understand the landscape and forge partnerships that build true cyber resilience.

The 2024 edition paints a picture of a sector in robust health, adapting with agility to a relentlessly hostile environment. The findings reveal not just growth, but a strategic maturation of the MSSP model, solidifying its role as a critical pillar of modern business defense.

The Big Picture: Unprecedented Growth and Financial Strength

The most immediate takeaway from the 2024 report is the sheer momentum of the MSSP market. While the overall cybersecurity services market is projected to grow by a healthy 15%, the top 250 MSSPs are outpacing it, forecasting an average revenue growth of 18% year-over-year.

This financial vigor is translating directly to the bottom line.

• Surging Revenues: The average revenue for a top 250 MSSP climbed to an estimated $41.5 million in 2024, a substantial increase from $35.1 million in 2023.
• Exceptional Profitability: An overwhelming 89% of MSSPs reported being profitable in 2023, with that confidence growing to 92% for 2024.

This growth isn’t happening in a vacuum. It is a direct response to escalating business risks, stringent regulatory pressures, and the recognition that in-house security teams are often overwhelmed by the scale and sophistication of modern attacks.

On the Front Lines: Responding to Today’s Most Pervasive Threats

The report provides a stark look at the daily realities of cyber defense. In 2024, MSSPs were instrumental in mitigating an onslaught of attacks, with the most common incidents being:

• Phishing (96%): The perennial top threat, now supercharged by AI that makes malicious emails more convincing than ever.
• Vulnerability Exploitation (94%): Attackers continue to weaponize software flaws at a rapid pace, targeting everything from network devices to applications.
• Ransomware (92%): Despite improved defenses, ransomware remains a devastatingly effective attack vector, crippling operations and extorting millions.

These statistics highlight the critical need for a multi-layered defense strategy, something MSSPs are uniquely positioned to provide through continuous monitoring and rapid incident response services.

The Rise of the In-House SOC: A Shift Towards Control and Quality

One of the most significant strategic trends identified in this year’s report is the move toward self-reliance. A commanding 72% of top MSSPs now operate their Security Operations Centers (SOCs) entirely in-house, up from 67% last year. The number of MSSPs that fully outsource their SOC has dwindled to just 4%.

This shift underscores a commitment to:

• Quality Control: Direct oversight of analysts, tools, and procedures.
• Faster Response: Tightly integrated teams can detect, analyze, and respond to threats more quickly.
• Deeper Expertise: Fostering specialized talent and institutional knowledge within the organization.

For customers, an MSSP with a dedicated in-house SOC signals a higher level of maturity and a greater investment in the quality of its service delivery.

Core Service Offerings: The Modern MSSP’s Defensive Playbook

As the market matures, MSSPs are focusing on a core set of high-impact services. The most essential offerings in 2024 include:

• Vulnerability Assessment & Managed Vulnerability Services (87%): The foundational practice of identifying and prioritizing security weaknesses before they can be exploited.
• Incident Response (IR) Services (82%): Providing the expertise and manpower to manage a security breach, from containment to eradication and recovery.
• Managed Detection and Response (MDR) (78%): A proactive service that goes beyond alerts to actively hunt for threats within a network and respond to them.

These services form a powerful trifecta, providing the proactive visibility, reactive capability, and continuous threat hunting needed to defend against advanced adversaries.

The Power of Partnerships: Top Vendors Fueling MSSP Success

No MSSP operates alone. Their capabilities are amplified by a strong ecosystem of technology partners. The 2024 report reveals the top cybersecurity vendors that MSSPs rely on most to deliver their services:

1. SentinelOne (27%)
2. Microsoft (24%)
3. Stellar Cyber (21%)

This symbiotic relationship allows MSSPs to integrate best-in-class technologies into a single, managed service, freeing clients from the complexity of managing multiple security solutions themselves.

What This Report Means for Your Business

For organizations evaluating their security posture, the 2024 MSSP Alert report offers a clear roadmap. When choosing an MSSP partner, consider these findings:

• Prioritize In-House Operations: Favor providers that demonstrate a commitment to quality by running their own SOC.
• Look for Core Service Strength: Ensure the MSSP has a robust offering in MDR, vulnerability management, and incident response.
• Inquire About their Tech Stack: Ask which vendors they partner with and how they integrate these technologies into a cohesive service.

Conclusion: The Indispensable Role of MSSPs in 2024 and Beyond

The 2024 MSSP Alert Top 250 report confirms that managed security service providers are no longer just an option, but an essential component of modern business strategy. They provide the specialized expertise, advanced technology, and 24/7 vigilance that most organizations cannot achieve alone. As businesses continue to face an unpredictable and dangerous cyber landscape, a partnership with a leading MSSP is one of the most effective investments they can make in their future.

To dive deeper into the data and learn more about the top 250 MSSPs in 2024, download the full report here.