11:11 Systems Managed Detection and Response (MDR)
Cybercrime continues to be a growing threat over the past decade, with increasing incidents and financial losses reported worldwide. According to reports by Cybersecurity Ventures, global cybercrime costs have nearly tripled since 2015 from $3 trillion to an estimated $8 trillion in 2023. This same research predicts cybercrime costs to grow at least 15% a year over the next three years reaching $10.5 trillion in damages.
From a recent press release, Cybersecurity Ventures said, “If cybercrime were measured as a country it would rank the third largest global economy in the world behind just the United States and China.”
In order for organizations to effectively combat these never-ending threats having the right resources is critical. This should include a combination of skilled cybersecurity professionals, advanced security technologies, and employee education and awareness programs. Simply put without a multi-layered approach your organization is more vulnerable than ever.
As part of a prudent cybersecurity strategy organizations are looking towards more advanced security technologies as a means to protect their most valuable assets like their critical IT infrastructure and data. One of these technologies is Managed Detection and Response (MDR) and the numbers reflect that. Per a recent study, the global MDR market continues to grow significantly, from USD 3.3 billion in 2023 to USD 9.5 billion by 2028.
What is behind this dramatic growth you might ask?
- Exponential increases in cyber threats
- Shortage of cybersecurity professionals
- Bridge in the cybersecurity skills gap
- Continued adoption of AI/ML-powered services
- Remote and hybrid work as a result of COVID-19
At 11:11 Systems we understand your security concerns and have a variety of services to fit your risk threshold and fortify your cybersecurity defenses. Some organizations may be more exposed or targeted by cybercriminals than others and may need more proactive and responsive security measures to protect their assets and data. Our managed security services, including MDR, will give your organization access to specialists focused on your security needs, from the simplest to the most complex. You can reduce the burden on your internal IT staff to free them up on other critical business priorities. You can tap into advanced technologies like MDR and leverage more advanced and scalable solutions.
Our MDR solution sets a new standard for cybersecurity as it goes beyond traditional endpoint monitoring and leverages computer and human intelligence across an organization’s entire IT infrastructure. With additional high-tech solutions like Security Information and Event Management (SIEM), 11:11 Systems empowers organizations to more quickly and effectively detect, investigate, and respond to cyber threats. This is all done in real-time, ensuring robust protection against evolving risks.
To learn more about how 11:11 Systems MDR can help safeguard your organization’s security readiness, visit our website: https://1111systems.com/services/managed-security-services/