The coming year can be overflowing with numerous challenges for leading MSP companies and the industry as a whole. Nevertheless, it can still be a promising and lucrative future with accelerated changes in the IT ecosystem. Managed service providers are up for a ride as the year closes and anticipates the next. The only thing certain is that the needs across industries are constantly evolving. Thus, it also means more opportunities for IT vendors and channel partners, gearing toward innovation.
The Future of Technology and Leading MSP Companies
The first step to ensuring your edge as a managed service provider is to identify the latest technology trends. Know the top technology predictions for MSPs and put them in the context of today’s trends across industries. As a competitive channel partner, you can effectively take advantage of this. Incorporate these trends into your new services and highlight them in your portfolio. Consequently, this will help position yourself for surefire success in the coming year.
Leading MSP companies need to strategize and go with the demands of IT vendors and their clients. According to the online news wire, Reportlinker, the MSP market records a healthy expansion rate. The estimated MSP value by 2024 is at $319.5 billion. How do you take advantage of this increasing service demand? Stay ahead of the ever-growing and fast developments surrounding the IT landscape.
Key Technology Trends in the MSP Ecosystem
In 2021, wise MSP partners follow a surefire route to success in their business. Targeting their investments in the context of the top technology predictions and trends is the way to do it. Here are some of the must-know technology trends that managed service providers should prioritize:
IT Trend #1 – Cybersecurity, Privacy, and Usability
One of the main reasons why businesses hire MSPs is to shield them from all forms of cyber threats and attacks. Thus, cybersecurity will always be an important trend that will never go irrelevant. This will only evolve into something more complex and innovative to respond to the changing needs in today’s industries.
Cybersecurity maintains solid relationships with new and leading MSP companies because of how important it is. There is increasing and pervasive complexity in terms of cyber threats. No wonder MSPs must look for more advanced security solutions, highlighting them as their service offering. After all, clients are in constant need of security management across the enterprise. This covers both the network access point and end-user devices.
Ongoing Trend of Supply and Demand
The high demand for cyber security solutions is but one part of the equation. For instance, this trend also means more opportunities to enhance more ongoing and consultative MSP-client relationships. MSP companies can offer a wide range of IT solutions for client data security. These services may include security for networks, emails, web, AI-based, and endpoint solutions.
MSPs and Cyber Criminals
Businesses are not the only ones who are vulnerable to cyber threats and attacks. Cyber criminals consider managed service providers their valuable targets as well. Most cyber perpetrators target MSPs due to their access to their client networks. Thus, leading MSP companies consider a robust and innovative internal security program for them and their clients.
How do you make sure that clients choose you above your competitors based on your cybersecurity services? Therefore, managed service providers will be constantly under increasing scrutiny. This is to ensure and prove to their clients that they have the most reliable and secure cybersecurity system. MSPs must be prepared at all times in case those kinds of questions or concerns arise.
Cybersecurity Technology Predictions for MSP
There should be a balance of cyber protection, privacy, and usability in the MSP ecosystem. Leading MSP companies using advanced technology solutions should address these essential services:
⚫ Data Collection Optimization
One of the top technology predictions cover data collection and optimizing this type of MSP service. There are two general categories of information that MSPs collect from clients. These are the essentials and the extras, wherein the latter may have extra worth down the road.
The future of technology in data collection is quite lucrative and promising especially with the advent of better IT solutions. These technology predictions highlight minimum security and privacy measures while decreasing cyber risks. Modern IT solutions help MSPs identify and request data that are only absolutely necessary. There’s no need to get all the client data as hackers cannot steal what you do not have, in the first place.
⚫ Security Capability Upgrades
Many businesses turn to MSPs because of their lack of confidence in their current in-house security prowess. However, it is also important that MSPs trust in their own cybersecurity system. The good news is that IT predictions show an increase in more IT vendors offering MSP-friendly platforms. Secured MSP networks are equivalent to better cyber protection for their clients in the process.
Technology predictions include the introduction of cybersecurity bonuses such as more flexibility to respond to client needs. Upgrading your MSP security prowess may require you to make some financial investments. However, the profit, in the long run, is quite impossible to ignore.
⚫ Better Privacy Transparency
Improving privacy transparency makes leading MSP companies more credible and attractive to clients. Future technologies predict better privacy services from MSPs, making them more trustworthy. These IT solutions focus on the following components:Improving privacy transparency makes leading MSP companies more credible and attractive to clients. Future technologies predict better privacy services from MSPs, making them more trustworthy. These IT solutions focus on the following components:
- Data usage. MSPs must disclose to their clients their intention on how to use their business data. It should include informing the client if their data will be shared with other third-party partners.
- Data collection. New MSP technologies enhance their features in terms of collecting data using a web form or cookies. MSPs should tell clients how they plan to collect data and exactly what details to obtain.
- Data changes. Technology predictions in the MSP ecosystem cover features that can help clients update their personal data. Moreover, this technology also allows MSPs to notify clients should changes be made on their end.
⚫ Maintain Usability
Modern IT solutions also make sure that they address the usability issue on top of security measures and privacy policies. Leading MSP companies will be using technologies that will help account for usability to promote business growth. For instance, technology predictions highlight authentication systems that are user-friendly and accessible.
There should be a balance between privacy, security, and the availability of MSP services to clients. This new technology allows managed service providers to seamlessly communicate with the client base and internal resources.
IT Trend #2 – Artificial Intelligence
Leading MSP companies will be introduced to a more innovative AI-based tool to deliver their services. These AI resources will play a crucial role to enable security initiatives and business growth. For instance, systems that leverage AI are able to identify increasingly complex cyber-attacks. In the past, these cyber threats will be hard to detect. However, the latest MSP technologies will meticulously address such issues.
IT Trend #3 – Automation
Modern MSPs should capitalize on new automation technologies to optimize their resources. These IT trends are designed for better, seamless business management and effective client service delivery. The good news is that the forecast on IT solutions includes technologies that offer real-time visibility. Clients and their staff can now focus on activities that generate revenue. They can concentrate on better account management with the help of more advanced MSP solutions.
IT Trend #4 – Cloud Management
More technological upgrades will be available to MSPs especially in terms of cloud management. That’s because more clients will be shifting to the cloud for some or all of their system applications. According to Gartner experts, by 2022, the market for global public cloud services will reach up to $331.2 billion. The predicted CAGR is 12.6%.
Leading MSP companies will be introduced to more sophisticated IT solutions as they offer better cloud management to clients. These predicted innovative tools for cybersecurity will give clients peace of mind. They will be assured that their data and applications are protected, wherever they reside.
IT Trend #5 – The Internet of Things (IoT)
Leading MSP companies can expect to have tens of billions of mobile devices getting connected in the following years. As the IoT is becoming more relevant and in demand as a hot vertical, this IT trend is inevitable. Businesses will be relying more and more on connected devices as their integral and mainstream part. MSPs will have better unique opportunities in helping clients protect their technology ecosystem.
Final Thoughts on Leading MSP Companies
The future is undoubtedly bright and promising for the MSP market with the expanding and growing demands. The new technological predictions in the MSP ecosystem is proof of this relevance and continuous competitiveness. Leading MSP companies not only address the key technology trends across industries.
MSP leaders make sure that they go beyond client expectations by using no less than the best applications. Successful managed service providers invest in proven profitable and effective tools such as CWDash. Learn more about this MSP goldmine as well as our free tools today.