On MSP Today, we discuss the products and solutions MSPs utilize to help their clients combat cyberattacks. We also discuss various partnerships.
For example, Orange Business announced it will use Ekinops technology to power its SD-WAN Essentials service. Assura and Stellar Cyber also announce a partnership to deliver top-notch cybersecurity. Then, we have CloudCasa by Catalogic bringing data protection to IONOS Cloud Platform customers.
That’s not all that’s been circulating around the MSP space. Below, we have various reports that provide some insights into the MSP industry.
Let’s take a look:
Ransomware Fears Drive Businesses to Cloud Backup Solutions
Veeam Software released its 2024 Cloud Protection Trends Report, which examines how businesses are using cloud-based systems to protect their data. The report found that cyberattacks are a major concern for businesses, and that many are looking to cloud-based backup and disaster recovery solutions to improve their data protection strategy.
The report highlights a few key trends. Businesses are increasingly looking for cloud-based backup solutions that integrate with their existing data protection systems. They also prefer BaaS solutions offered by the same vendor that produces their backup software. Additionally, the report found that organizations are moving away from simply adding cloud storage to their on-premises data protection and are instead adopting managed BaaS solutions. This suggests that businesses are looking for more comprehensive data protection solutions that can be easily managed.
The report also found that multiple teams within an organization are typically responsible for data protection and recovery. This highlights the importance of having expertise and clear processes in place for data recovery. Finally, the report found that organizations are increasingly looking for MSPs that offer outcome-driven capabilities, such as disaster recovery and cyber resiliency.
IT Managed Services Partnerships Linked to Successful Digital Transformation
A study by Forrester Consulting, commissioned by Windstream Enterprise, finds that enterprises using partnerships with IT managed services providers are more likely to achieve success in their digital transformation initiatives. The IT staffing shortage is a major hurdle for many enterprises pursuing digital transformation. Over half reported lacking the necessary staff and expertise to support critical digital goals like IT agility, security, and customer experience.
The study found that enterprises with prior experience using managed services providers achieved more significant results in key areas compared to those going it alone. A majority of respondents reported success with managed services for infrastructure (78%), cloud (66%), support (64%) and security (58%).
Mid-Market Businesses Take Proactive Approach to Risk Management
A report by Marsh McLennan Agency finds cyber security, economic instability and changing regulations to be the top concerns for mid-sized businesses in the U.S. These businesses, though small in number, are a major revenue driver. The report highlights an increase in companies reviewing their insurance coverage, which suggests a growing awareness of risk and a proactive approach to mitigating it.
SMBs Embrace AI and Diversify Vendors
A study by Payoneer surveyed SMBs globally to understand their growth strategies and found that SMBs look to expand internationally. To achieve this, SMBs embraced new technologies like AI for tasks such as customer service and inventory management. They are also diversifying their supplier networks, working with more vendors from different countries to mitigate risks from global disruptions.
A trend is the growing focus on Europe and Central Asia as a target market for SMBs. This shift is likely driven by ongoing trade tensions between China and North America. However, the study also highlights that SMBs recognize the challenges of going global, including geopolitical risks and cybersecurity threats. They are increasingly prioritizing cybersecurity as a key business goal.
Security Providers Struggle with Compliance
A report by Apptega revealed challenges and opportunities for managed service and security providers in the area of compliance. While most providers offer some form of compliance service, 85% of providers struggle to deliver it due to lack of resources or technology. There's also a disconnect between the recognition of compliance as a high-growth area and the current revenue it generates for these providers. The report did highlight an opportunity for providers to use continuous compliance services to achieve recurring revenue and business growth.
With these reports, it’s safe to say that the MSP space is an interesting one to follow, especially with new developments in the industry that arise to better the future against cyber threats.
To learn more, don’t miss MSP Expo 2025. Taking place February 11-13, 2025, in Fort Lauderdale, Florida, MSP Expo is the premier event for MSPs, offering a three-day experience combining conference education focused on growth strategies, networking opportunities, an exhibit hall full of the latest technologies and solutions to help MSPs build their businesses.
Edited by
Alex Passett
