Frost & Sullivan, the leading research firm in the field of technology and innovation, released the Frost Radar 2023, in which SISAP (Sistemas Aplicativos) is positioned as the only Latin American company that is part of the Top 12.
The Frost Radar is an analysis tool used to evaluate and rank companies in the cybersecurity market, based on their growth and innovation, in order to provide effective and reliable solutions to their customers. For the 2023 edition, Frost & Sullivan evaluated 40 Cybersecurity companies out of more than 120 operating in the Americas. Only 12 companies were selected to be featured in the Frost Radar™ 2023; this analysis is conducted annually and is highly respected in the cybersecurity industry.
Mauricio Nanne, CEO of SISAP said they are proud of this achievement. “SISAP’s inclusion in the Frost Radar is transcendental for our company, because it shows that in Latin America we have the human talent and the necessary infrastructure to face global cyber threats,” he said.
The report highlights SISAP’s commitment to reach maturity in the cybersecurity market in the region. It also mentions that, over the past three years, SISAP has remained at the forefront of security solutions and services, focusing its innovation on developing or improving areas such as XDR (Extended Detection and Response), cyber risk management and ransomware assessments.
The other evaluated organizations featured in the Frost Radar™ are: Verizon (USA), Accenture (Ireland), Lumen (USA), AT&T (USA), Nuspire (USA), High Wire (USA), Optiv (USA), Trustwave (USA), Security HQ (UK), Secureworks (USA) and Telefonica Tech (Spain).
Cybersecurity to reach USD$19.3 billion by 2025
Protecting business environments requires increasingly complex solutions that are managed by specialized cybersecurity professionals. The best option that allows corporations to focus on their business, without neglecting security, is a vendor that can provide and manage comprehensive cybersecurity solution ecosystems.
According to Frost & Sullivan’s report, the managed and professional security services market in the Americas continues to grow at a steady pace despite its maturity.
The current market dynamics and drivers benefit managed security services providers (MSSPs) greatly and create the conditions to achieve a compound annual growth rate (CAGR) of 11.6% from 2022 to 2025, increasing from USD “13.9 billion to USD$19.3 billion, respectively. The Latin America market accounts for 10.5% of this total, but will grow faster, at a CAGR of 17.5%.
The Managed Security Services (MSS) segment is growing faster than Professional Security Services (PSS), but both will experience healthy increases in revenue over the next three years. Professional services still account for the largest market share and will continue to be the future going forward.
Given the high demand for human talent specialized in Cybersecurity, SISAP continues to prepare students and IT professionals who wish to specialize in Cybersecurity. Currently, through its academy IRSI, they are preparing around 100 future cybersecurity professionals in the Latin American region, including 4 from the Dominican Republic, who as of December could join the workforce of both SISAP and other organizations that require trained personnel.
SISAP, Sistemas Aplicativos S.A. is a company founded in Guatemala City in 1985, leader in the Information Technology and Security market in several countries in the region. It has a broad portfolio of services and solutions focused mainly in the area of information security.
The Cybersecurity Operations Center (SOC) within SISAP’s CERT has the CERT (Computer Emergency Response Team) certification, granted by Carnegie-Mellon University to operations centers around the world specialized in information security incident response.
With more than 38 years of experience, they are the leaders in providing security solutions and services to clients in Latin America (80% are from the financial sector), through a staff of more than 250 employees (60% are engineers) in their various regional offices, located in Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panama, Dominican Republic, Colombia, Mexico and the United States.