NEW
YORK, July 4, 2024 /PRNewswire/ -- The global
MSP software market size is estimated to grow by USD 181 million from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
12.12% during the forecast period. Increased adoption
of iot solutions is driving market growth, with a trend towards
increased adoption of bring your own device (BYOD) policy. However,
data privacy and security risk in cloud-based services poses
a challenge. Key market players include Acronis International GmbH,
AT and T Inc., Atera Networks Ltd., Auvik Networks Inc., Bravura
Software LLC, Cisco Systems Inc., ConnectWise LLC, DNSFilter Inc.,
Hewlett Packard Enterprise Co., Hornetsecurity Ltd., Infosys Ltd.,
International Business Machines Corp., Kaseya Ltd., LogicMonitor
Inc., Opmantek Software Pty Ltd., ServiceNow Inc., TitanHQ, Trend
Micro Inc., Wipro Ltd., Ziff Davis LLC, and Zoho Corp. Pvt.
Ltd..
Get a detailed analysis on regions, market
segments, customer landscape, and companies - Click for the
snapshot of this report
Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Deployment (On-premises
and Cloud-based), Type (Managed data center, Managed network,
Managed infrastructure, Managed mobility, and Others), and
Geography (North America, Europe, APAC, South America, and Middle
East and Africa)
|
Region
Covered
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Key companies
profiled
|
Acronis International
GmbH, AT and T Inc., Atera Networks Ltd., Auvik Networks Inc.,
Bravura Software LLC, Cisco Systems Inc., ConnectWise LLC,
DNSFilter Inc., Hewlett Packard Enterprise Co., Hornetsecurity
Ltd., Infosys Ltd., International Business Machines Corp., Kaseya
Ltd., LogicMonitor Inc., Opmantek Software Pty Ltd., ServiceNow
Inc., TitanHQ, Trend Micro Inc., Wipro Ltd., Ziff Davis LLC, and
Zoho Corp. Pvt. Ltd.
|
Key Market Trends Fueling Growth
The Bring Your Own Device (BYOD) trend in enterprise mobility is
increasingly popular among corporations, allowing employees to use
their personal smartphones, tablets, and laptops at work. This
shift necessitates specialized management and IT service delivery
frameworks to ensure secure and productive work environments.
Companies focus on providing appropriate devices to their
workforce, leading to an increase in the use of various operating
systems and devices, such as iOS, Android, Windows, smartphones,
and tablets, on corporate networks. The primary objective of
implementing BYOD is to offer cost savings and mobility to
employees while boosting productivity. Vendors provide solutions to
create an infrastructure that enables employees to use their
devices securely through robust internet connectivity. These
factors are anticipated to fuel the growth of the Managed Service
Provider (MSP) software market in the coming years.
In today's business landscape, Managed Service Providers (MSPs)
are trending in various industries including IT and
telecommunication, transport and logistics, automotive, and retail.
Large companies are increasingly relying on MSPs for managed
infrastructure, communication, information, and security services.
MSPs offer on-premises solutions as well as cloud-based options for
B2B integration, transportation, utilities, media, and supply chain
management. MSPs provide managed services using specialized tools
for capacity planning, load balancing, resource allocation,
storage, bandwidth, and processing power. They offer remote
management, monitoring, configuration changes, troubleshooting,
software updates, and data privacy protection. MSPs address
security concerns with managed security services, safeguarding
against unauthorized access, identity theft, and data leaks. IoT
solutions with sensors as data sources and interconnected devices
require specialized tools for managing data from various
interconnected devices. MSPs offer a centralized platform for
managing data centers and third-party data centers, ensuring data
privacy and security. Virtual assistant services and data center
services are in high demand, with capacity planning, load
balancing, and resource allocation being key focus areas. MSPs
provide a one-stop solution for IT firms, ensuring seamless IT
service platform and information services.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- Cloud-based Managed Service Providers (MSP) software adoption
in organizations faces significant barriers due to data privacy and
security risks. Cloud security management is a complex task for
vendors, as online digital files require protection from
unauthorized access to cloud-based IT infrastructure. Public cloud
infrastructure, which is based on multiple open-source codes, can
introduce vulnerabilities. Cyber-attackers can easily penetrate
cloud-based data storage systems due to their open architecture and
shared resources. Vendors must encrypt clients' data and implement
multi-factor authentication systems for user authorization.
Adherence to regulatory guidelines for cloud security management is
essential. In a multi-tenant cloud architecture, hackers may target
data from other users on the same server. These factors pose
challenges to the growth of the global MSP software market.
- In today's business landscape, managing IT systems and ensuring
security is a top priority. MSP (Managed Service Providers)
software market offers flexible and scalable solutions to help
companies tackle challenges such as vulnerability management,
compliance requirements with GDPR, HIPAA, PCI DSS, data encryption,
access restrictions, and audit trails. However, businesses face
hurdles like natural disasters, cyberattacks, interruptions, and
downtime, which can lead to constrained funding and the need for
continuous support. MSPs provide on-going assistance in managing
workflows, mitigating risks from hacking, and ensuring skilled
workers are available. However, challenges like vendor lock-in,
exclusive ecosystems, system crashes, sluggish performance, and
outages persist. MSPs offer both on-premise and cloud-based
solutions for enterprise IT, catering to large enterprises in
healthcare and financial services. Their services include
infrastructure management, managed data centers, managed networks,
managed mobility, and cloud storage, among others. Outsourcing IT
services can help businesses focus on their core competencies while
ensuring on-going support and live administration from qualified IT
workers.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This msp software market report extensively covers market
segmentation by
- Deployment
- 1.1 On-premises
- 1.2 Cloud-based
- Type
- 2.1 Managed data center
- 2.2 Managed network
- 2.3 Managed infrastructure
- 2.4 Managed mobility
- 2.5 Others
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 On-premises- The on-premises segment of
the Managed Service Provider (MSP) software market is projected to
experience substantial revenue growth compared to the cloud-based
segment. This is due to the end-to-end quality control and
heightened security features of on-premises MSP software. The
market is primarily driven by large organizations in sectors such
as BFSI, aerospace and defense, and government, which deal with
sensitive data and are subject to stringent regulations. These
organizations prefer on-premises MSP software to ensure compliance
and maintain control over their data. For instance, government
entities like the Central Intelligence Agency (CIA), Research and
Analysis Wing (RAW), and Inter-services Intelligence (ISI) utilize
on-premises MSP software due to the heightened security risks they
face. Consequently, the on-premises segment is expected to expand
significantly in the MSP software market during the forecast
period.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The Msp Software Market encompasses a range of IT solutions
designed to help businesses manage and optimize their Cloud
Services, IT Environments, Networks, Apps, and Hybrid
Infrastructure. These solutions provide Service standards,
Proactive Monitoring, and On-going Support to ensure seamless
operations. Network security is a top priority, with offerings
including Authentication and Infrastructure Management. IT Service
Platforms offer B2B Integration for industries such as
Transportation, Utilities, Media, and Supply Chain Management.
Virtual Assistants and Data Centers, whether on customer's premises
or third-party, are essential for efficient information services.
Continuous Support and Live Administration ensure business
continuity, making Msp Software an indispensable tool for any
organization.
Market Research Overview
The Msp Software Market encompasses a range of IT solutions
designed to help businesses manage and optimize their Cloud
Services, IT Environments, Networks, Apps, and Hybrid
Infrastructures. These solutions offer Service standards, Proactive
monitoring, and Security features to safeguard against
Cybersecurity threats such as Ransomware, Malware, and Data
breaches. Compliance requirements like GDPR, HIPAA, and PCI DSS are
met through Data encryption, Access restrictions, Audit trails, and
Flexible and Scalable IT solutions. Disaster Recovery plans protect
against Natural disasters, Cyberattacks, Interruptions, and
Downtime, while Constrained funding and Skilled workers are
addressed through Outsourcing IT services and On-going support.
Managed services include Data center, Network, Mobility,
Infrastructure, Communication, Information, Security, and various
Vertical solutions. The market caters to Enterprise IT, Large
companies in Healthcare, Financial Services, and other sectors, as
well as Retail clients, IT firms, and various industries like
Transport and Logistics, IT and Telecommunication, Automotive, and
Media. The IT Service Platform provides B2B integration,
Transportation, Utilities, and Supply Chain Management solutions,
and includes Virtual Assistant technology for enhanced
productivity.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Deployment
-
- Type
-
- Managed Data Center
- Managed Network
- Managed Infrastructure
- Managed Mobility
- Others
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download
multimedia:https://www.prnewswire.com/news-releases/msp-software-market-size-is-set-to-grow-by-usd-181-million-from-2024-2028-increased-adoption-of-iot-solutions-to-boost-the-market-growth-technavio-302188918.html
SOURCE Technavio