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MSPs are shown the growth roadmap

MSPs are shown the growth roadmap

Analyst house Canalys estimates managed services revenue in the channel will grow at least 12% in 2024, driven by customer demand for cyber security management, cloud infrastructure, application development, AI solution consulting and compliance requirements.

“Managed services are outgrowing many other areas of the channel, and there are more competitors in the space coming from a broader set of partners, all looking to capitalise on customers’ need to find specialists,” said Canalys.

In its research, the analyst found that 50% of MSPs report they will be working in a managed services hybrid delivery model in 2024. This means they will be working in an ecosystem of other partners and vendors, as well as with customers’ IT teams, to deliver solutions to those customers.

34% expect over 20% year-on-year growth in their cyber security revenue in 2024, while almost two-thirds expect over 10% growth.

The cyber insurance industry was worth an estimated $17 billion in 2023, and is projected to grow by a CAGR of around 26% to 2030.

2024 will see 60% growth in compliance consulting revenue for channel partners, said Canalys, and the role of the partner in helping customers select and comply with cyber insurance will be “vital”, it says.