This year marks the third annual MSP Day, a movement Barracuda MSP started in 2018 to celebrate and champion the managed services industry and the changes and challenges it meets with each new year.
2020’s report takes a deep dive into the global MSP market, as channel partners the world over are presented with the opportunity to bolster their security offering to better support the new, more vulnerable mobile workforce that has emerged in the wake of the novel coronavirus.
Almost 300 global MSPs were interviewed for this year’s report, spanning the UK, U.S., Germany, Canada, Ireland, Belgium, Australia, and Spain. The findings revealed that regardless of location, MSPs across the globe are facing similar challenges when it comes to provisioning and the growth opportunities around future security offerings.
Key findings:
- The majority of MSPs plan to expand their services portfolio in 2020. A significant 91 percent of MSPs said they were planning to increase the breadth and depth of their services capacity in the next 12 months.
- Managed services look to be the top revenue generator for the vast majority of respondents. 69 percent of respondents identified managed services as the biggest opportunity for increasing sales in 2020. This is significantly up since 2019, which saw 54 percent noting managed services as their biggest opportunity.
- MSPs favor a hybrid approach to services. 53 percent of respondents expect to generate more than half (51 percent) or more of their business through managed services in 2020, with approximately another 45 percent saying they expect to generate up to 50 percent of business through managed services.
- Security services are higher up the agenda for MSPs this year. Endpoint security, email security, and network security all made it into the top five services table in 2020. In contrast, in 2019 email security was the only security service to make the top five.
- Rising security concerns and a lack of in-house skills within end user customers are driving the need for third-party service providers. A majority, 79 percent, of MSPs felt customer security concerns were a good opportunity, particularly with the rise of remote workers. 72 percent said the lack of in-house security skills among their customers was also creating new revenue possibilities.
- The vast majority agree that demand for managed security services is increasing. 88 percent of those questioned said that demand for security services was either ‘moderately’ or ‘significantly’ increasing.
This year’s findings once again indicate significant positive shifts in MSP perception, growth, and adoption as end users look to recruit cost effective and trusted cybersecurity skills to address their own skills gap and protect their data from increasingly sophisticated cybercriminals.
To view the full report and to join in the celebrations for MSP Day, click here: https://barracudamsp.com/globalmspday2020/
