Yisell Arévalo Castro | April 13, 2023
The leading research firm in the field of technology and innovation Frost & Sullivan, unveiled the Frost Radar 2023, in which SISAP (Application Systems) is positioned as the only Latin American company that is part of the Top 12.
Frost Radar™ is an analysis tool used to evaluate and classify companies in the cybersecurity market, based on their growth and innovation, to provide effective and reliable solutions to their clients. For the 2023 edition, Frost & Sullivan evaluated 40 Cybersecurity companies, out of the more than 120 that operate in America. Only 12 companies were selected to appear in the Frost Radar 2023; this analysis is performed annually and is highly respected in the cybersecurity industry.
Mauricio Nanne, CEO of SISAP shared that they are proud of this achievement. “The fact that SISAP enters 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.”
The report highlights SISAP’s commitment to reach maturity in the cybersecurity market in the region. Likewise, he mentions that in the last 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. .
Cybersecurity a growing market that will reach USD19.3 billion
The protection of business environments requires increasingly complex solutions that are managed by professionals specialized in cybersecurity. The best option that allows corporations to focus on their business, without neglecting security, is a provider that can provide and manage ecosystems of comprehensive cybersecurity solutions.
According to the Frost & Sullivan report, the market for professional and managed security services in the Americas continues to grow, at a steady pace despite its maturity.
The dynamics and drivers of the current market benefit Managed Security Service Providers (MSSPs) greatly and create the conditions to achieve a compound annual growth rate (CAGR) of 11.6% from 2022 to 2025, with an increase of USD13.9 billion to USD19.3 billion, respectively. The Latin American market represents 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 the Professional Security Services (PSS) segment, but both will see healthy earnings increases over the next three years. Professional services are still responsible for the largest market share and will continue to be the future to come.
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 their IRSI academy, they are preparing around 100 future cybersecurity professionals in the Latin American region, including 2 from Panama who, starting in December, could join the workforce of both SISAP and other organizations that require trained staff.
