New Report provides key recommendations to MSPs on how to best grow their cloud businesses
Ingram Micro Cloud, operator of the world’s largest cloud marketplace for the channel, announced the creation and release of its annual report examining prescient trends affecting Managed Service Providers (MSPs) and technology resellers. Cloud Technology: The State of MSPs Report analyzes key barriers and weaknesses that need to be addressed by MSPs in order to maximize on new and forecasted opportunities within the channel.
Drawing on the insights from over 600 MSPs acquired by Ingram Micro Cloud and global technology market research experts Vanson Bourne during an era of the greatest transformational shift in the history of the channel, the report provides revelations meant to benefit resellers and MSPs directly as they learn to navigate new business landscapes. Among its findings, the report recommends channel partners evolve to become strategic advisors to their customers; identify the most popular services provided by MSPs, including managed security and cloud services; and ensure they are in the best position to take advantage of the ever-increasing drive towards digitalization.
“From interviewing over 600 MSPs, it’s remarkable to see how 90% of service providers have seen client demand for managed services grow in the past 12 months, and close to two in three individuals surveyed say a lot of improvement is needed if their organization is going to be able to adapt to future opportunities,” said Craig Weir, executive director, global SaaS portfolio at Ingram Micro Cloud.
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The report examines industry developments and MSP opportunities in the channel. These insights include:
- How MSPs are handling surging client demand and dramatic levels of growth.
- The top reasons why organizations look to outsource their IT operations.
- The most common managed services requested by clients.
- What MSPs believe to be the greatest opportunities in the marketplace right now.
- The challenges most likely to keep senior decision makers up at night.
Weir continues, “Today, I believe most MSPs are stuck in a digital impasse. Many MSPs are at an inflection point of knowing where they should go, but they just don’t know how to get there or even how to start. As we comb through the data, it’s clear to us some MSPs have solved this puzzle. They have enabled scale, they have found ways to accelerate growth, both of which have increased topline revenue; all while expanding recurring revenue streams to improve their bottom line. We see this today in what we call the Modern MSP.”
In closing, global managed services market will rise from $243 billion in 2021 to $557 billion in 2028, at a CAGR of 12.6%.1 Over the past 12 months, the top 3 services that generated the most revenue were: Cloud Services (SaaS, IaaS, PaaS) (22%), Managed Security (19%), and Internal IT Department (17%). All of this is indicative of the opportunity for MSPs to take notice and develop a stronger cloud business plan for the year and beyond. One thing is clear: it’s a great time to be an MSP.
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