Alvarez Technology Group, Inc. Named to MSSP Alert’s 2023 List of Top 250 MSSPs
The seventh annual list reveals leading MSSP, MDR, and MSP security companies expect strong revenue growth in 2023 vs. 2022
Salinas, CA December 28, 2023. Alvarez Technology Group, Inc. ranks among the Top 250 MSSPs (https://www.msspalert.com/top-250) for 2023, according to MSSP Alert, a CyberRisk Alliance resource.
The Top 250 MSSPs honorees were announced in a live webcast on September 14.
- The complete list and research report are available here: https://www.msspalert.com/top-250
- The on-demand webcast will be available to watch here: https://www.msspalert.com/webcasts
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.
Alvarez Technology Group, Inc. was ranked among the Top 250 MSSPs for 2023.
“We are proud to be included in in the MSSP 250 list,” said Luis M. Alvarez, President & CEO of Alvarez Technology Group, Inc. “Our cybersecurity journey started over a decade ago, before cybersecurity was as top of mind as it is today. Keeping our clients safe and secure is a challenge that we take very seriously, and we continuously invest in staying in front of the bad guys.”
“MSSP Alert and CyberRisk Alliance congratulate Alvarez Technology Group, Inc. 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.”
MSSP Alert’s Top 250 MSSPs list and research report are overseen by Jessica C. Davis, editorial director, MSSP Alert and ChannelE2E.
Click here to download the list and associated report.
About Alvarez Technology Group
Alvarez Technology Group has been keeping businesses safe, secure & successful for over 20 years by providing world-class technology solutions to small- and mid-sized businesses, including network management and 24×7 monitoring, the integration of computers and telephones, cloud services, data security and backup, video surveillance and expert IT consulting. They empower their clients to grow their organizations with the right technology and smart systems management. For more information, visit www.alvareztg.com, contact Ronni Alvarez at 831-753-7677 or [email protected].
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. Click here to learn more.
