Tel Aviv,  Israel, Aug. 17, 2023 — Cynomi, the leading AI-powered virtual Chief Information Security Officer (vCISO) platform vendor for Managed Service Providers (MSPs), Managed Security Service Providers (MSSPs) and consulting firms, has published the results of its first annual report, “The State of the Virtual CISO 2023”. The report, conducted by Global Surveys on behalf of Cynomi, reveals critical insights into MSPs and MSSPs’ recent shift towards vCISO services.

The key highlight of the report is the fact that the number of vCISO service providers is set to increase by 480% between now and the end of next year, from 19% to 86% of MSPs and MSSPs in North America. Of the current 19% that provide vCISO services, just one quarter offered vCISO services prior to 2022. This demonstrates the significant trend of adoption over the last two years that shows no signs of slowing down.

The frequency of cyberattacks is on the rise, and hackers are continually targeting smaller businesses. Despite this, most small and mid-size companies cannot afford to hire a dedicated security professional to safeguard their IT assets full-time. Instead, they are increasingly turning to vCISO services, offered by rising numbers of MSPs and MSSPs. These services give SMBs access to external cybersecurity experts at a fraction of the cost of hiring an in-house CISO.

Cynomi’s report, based on survey responses from 200 Directors, VPs and C-Suite executives at MSPs/MSSPs in the U.S. and Canada, highlights the