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Cybersecurity continues to lead as primary revenue driver for MSPs

Security vendor Kaseya's latest MSP Benchmark Report shows that 73% of MSPs view cybersecurity as their top revenue driver. 

This is part of a larger trend: 78% of MSPs, surveyed across the Americas, EMEA, and APAC, recognise cybersecurity as a critical IT challenge, up from 67% last year.

The report notes a decline in cyberattacks on SMBs, with 64% of MSPs reporting fewer attacks. MSPs are becoming key advisors in cybersecurity, with nearly half offering guidance on best practices.

Mike Puglia, GM of Security Products at Kaseya said: "Cybersecurity remains a critical concern for MSPs, driven by two factors: the escalating threat landscape, and the persistent challenge proving high quality security services across all of their clients.

“Our research underscores the imperative for MSPs to bolster their efforts to meet the rapidly growing market demands."

The report also finds that 85% of MSPs view automation as essential, and 67% stress the importance of integrated applications for operational efficiency. Moreover, 75% believe that application integration saves time, and 70% see it as a driver of efficiency.

Looking forward, 33% of MSPs aim to implement AI for simplifying IT tasks, despite concerns about the challenges in adopting AI and machine learning. 

The MSP industry also faces hiring difficulties, with 12% of MSPs considering it a significant concern for 2024. This concern is secondary to acquiring more customers (36%) and addressing advanced security threats (19%).