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Emerging Managed Service Provider Trends in 2024
Managed services are being rapidly adopted by business globally as businesses realise how much they rely on IT managed services to streamline operations, boost efficiency and ensure security. In 2024, the rapidly evolving landscape of managed service providers (MSPs) is driven by technological advancements, increasing business needs and global security requirements. MSPs use advanced tools and techniques to manage & support networks and infrastructure, secure data, streamline IT operations and ensure effective cybersecurity.
MSPs have become vital for industries to flourish and safeguard their IT infrastructure. Just take a look at the stats:
- According to a report by CompTIA, the global managed services industry was worth $186 billion in 2020 and is projected to reach $356 billion by 2025, increasing at a Compound Annual Growth Rate (CAGR) of 13.3%.
- 51% of organisations say they have increased their usage of MSPs in just the past year.
- 83% of MSPs report that their clients now prioritize cybersecurity more than ever before.
Managed Services Market Size and Growth Forecast
The impact of the managed service market on business industries has been remarkable. A recent research report shows that in 2022, the market’s total value was an impressive 255.86 billion USD. Projections show that by 2030, the managed service market will increase to a substantial 671.14 billion USD. It projected a Compound Annual Growth Rate (CAGR) of 13.1% during the forecast period.
In addition to being the most cost-effective business IT Management solution, the charm of managed services lies in their significant benefits to organisational development, efficiency, security & compliance. They have helped reduce IT costs by 25-45% and improve operational efficiency by 45-65%. Downtime in a business organisation can cost organisations hundreds of thousands of dollars per hour of downtime. Managed services prevent this, making it highly essential and profitable for business.
IT Managed Services Trends
What do IT managed services anticipate? Security, technology, IT management and compliance trends in an industry. They encompass these trends to deliver valuable services for their customers.
It is important to understand some of the major trends:
Enhanced Attention to Cybersecurity
With the rapid growth of global technology comes the sophistication of security attacks from bad actors all around the world. Cyber threats and data violations are ever increasing and businesses must be pre-emptive in securing confidential data. As a result, managed service providers heavily focus on strengthening security and providing a holistic solution to safeguard client information and assets. MSPs enforce live threat tracking, security risk analysis, and strong safety protocols amongst many other security practices and technology.
Relevance of Cloud Services
The Cloud has transformed how businesses store, manage and access information. Thus, MSPs provide services and solutions that help industries leverage the Cloud from cloud migrations, cloud infrastructure management and security to optimisation and cost reduction.
Fusion of Artificial Intelligence (AI) and Machine Learning
With the rise of AI and machine learning, the scope of the managed services industry has surged. Using these technologies, MSPs shape network monitoring and enhance pre-emptive maintenance, identify abnormalities in business network traffic and detect possible security hazards.
Internet of Things (IoT) Administration
IoT plays a crucial role in enhancing productivity combining internet & wireless network capabilities with physical objects. MSPs help industry utilise the benefits of this technology including safe data transfer, IoT device management and integration.
Edge Computing
MSPs use and manage edge computing infrastructure to meet the growing needs of businesses. It includes ensuring data accuracy, enhancing network connections, and minimising latency for edge devices.
Hybrid IT Environments
Businesses increasingly adopt hybrid IT environments by integrating on-site infrastructure with public and private cloud services. MSPs are proficient in managing and harmonizing these hybrid environments to ensure seamless IT operations. It includes assuring data coordination, providing efficient hybrid cloud solutions, executing backups, and implementing disaster recovery methods amongst other.
DevOps and Agile Techniques
An important IT infrastructure management services trend. Businesses use these techniques to optimise software development and IT operations. MSPs enhance the operations with these techniques to assist client’s application development lifecycle. It involves seamless integration and deployment services, enabling cooperation between development and operation teams.
Improved Mobile Device Management
The rapid proliferation of new mobile devices and applications poses challenges for businesses. MSP provide mobile device management solutions to protect data, ensure compliance, integrate and improve mobile workforce efficiency. It involves safeguarding mobile applications, implementation & support, and executing effective mobile device management.
Enhance Customer Requirements & Experience
IT support is key for any business operation, greatly improving efficiency, security, business focus and the staff & customer experience. MSPs provide the most effective customer-focused service desk solutions, whilst proactively monitoring, maintaining and managing the IT infrastructure and providing important IT service & solutions for the business.
Choose MSP Corporation for Managed Services
If you wish to adopt the latest IT security measures and best practice IT solutions for your business, MSP Corporation is an acclaimed trusted partner. MSP Corporation implement the latest technological and service trends aligning the IT solutions with your business goals and objectives. Our teams of experts are at the forefront of industry trends, technologies and techniques, ensuring clients receive top-tier solutions cost effectively.
Our Commitment:
- Quality: We ensure services & solutions are delivered with the highest professionalism and quality.
- Value: We ensure services and solutions add great value to our customers, whilst maintaining cost effectiveness.
- Responsive and Proactive: Our 24/7 IT management, maintenance and support provided both onsite and remote, is tailored to provide rapid response times and proactive IT management.
- Australia and New Zealand Coverage: We serve clients both onsite and remotely across the whole of Australia and New Zealand.
- Latest & Best Practice IT Service & Solutions: We provide comprehensive IT solutions that incorporate the latest security, technology and best practice service and solutions.
- Small-Medium-Large Business Solutions: We cater for small, medium and large businesses.
Do you have questions about our IT managed services? Our team at MSP Corporation is here to help! Call us on 1300 554 404 or email us at sales@mspcorp.com.au.