Authored By: Sarah
11 Jul 2024

 Msp Software Market Size to grow by USD 181 million between 2024-2028

According to a research report “ Msp Software Market” by Deployment (On-premises, Cloud-based) Type (Managed data center, Managed network, Managed infrastructure, Managed mobility, Others) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 181 million, at a CAGR of  12.12% during the forecast period. The Internet of Things (IoT) is a technological innovation that connects tangible objects through communication services and embedded software, creating intelligent environments. This network enables smart machines to control and monitor various objects remotely via the Internet. IoT is a significant enabler of Managed Service Providers (MSP) software, as it necessitates managed communication services for end-to-end IoT infrastructure development. MSP software plays a pivotal role in building IoT infrastructure for smart communities, healthcare, homes, and transportation systems, facilitating machine-to-machine communication (M2M) and ensuring seamless connectivity between devices.

Browse market data tables, figures, and in-depth TOC on “Msp Software Market” by Deployment (On-premises, Cloud-based) Type (Managed data center, Managed network, Managed infrastructure, Managed mobility, Others) Geography (North America, Europe, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Deployment, the On-premises segment is projected to dominate the market size in 2024

The managed data center segment is poised for substantial growth, with a projected CAGR that outpaces managed network, infrastructure, and mobility segments within the MSP software market during the forecast period. A managed data center represents a data center model where deployment, management, and monitoring are handled by a third-party data center service provider. This offering delivers data center functionality akin to a standard data center but through a managed service platform (MSP). Notably, market leaders such as Google are expanding their footprint by constructing new data centers, like the one announced in Nebraska in April 2022, as part of their strategic investment in data center infrastructure.

By Type, Managed data center  segment is expected to hold the largest market size for the year 2024

The on-premises segment is poised for substantial revenue growth in the MSP software market, surpassing the cloud-based segment. This trend is driven by the end-to-end quality control and heightened security features inherent in on-premises MSP software. Large client organizations, particularly those in the BFSI, aerospace and defense, and government sectors, prioritize functionality and are subject to stringent regulations. Given the sensitivity of their data, these industries prefer on-premises MSP software to ensure compliance and maintain high-level security. Instances of this preference can be seen in various government bodies, such as the Central Intelligence Agency (CIA), Research and Analysis Wing (RAW), and Inter-services Intelligence (ISI), which utilize on-premises MSP software to mitigate risks associated with terrorism and cyber threats.

North America is forecasted to hold the largest market size by region in 2024

As a seasoned virtual assistant, I'm here to provide insights into the dynamic MSP (Manage Service Provider) software market. This sector experiences continuous growth, driven by businesses seeking efficient IT management solutions. MSP software enables service providers to deliver managed services to clients, enhancing operational efficiency and fostering stronger client relationships. Key features include remote monitoring, automation, and reporting capabilities, making it an indispensable tool for modern businesses.

The Msp Software Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • 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
  • Zoho Corp. Pvt. Ltd.
.

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Research Analysis Overview

The MSP (Managed Service Provider) software market is a dynamic and growing industry that caters to businesses seeking expert IT management and support. MSPs offer a range of services, including infrastructure management, cloud storage, and outsourcing IT services from third-party data centres. These data centres provide businesses with essential services such as media, utilities, transportation, and B2B integration, ensuring seamless supply chain management. MSPs utilize virtual assistant technology and IT service platforms to deliver continuous and on-going support, enabling businesses to focus on their core operations. Proactive monitoring, service standards, and security are top priorities, with hybrid infrastructure solutions that combine Apps, Networks, IT Environments, and Cloud Services. Authentication and network security are essential components, ensuring data privacy and protection. MSPs offer live administration and customer's premises support, ensuring a high level of service and continuous improvement. Overall, MSPs provide businesses with the expertise, infrastructure, and support they need to thrive in today's complex IT landscape.

Market Research Overview

The MSP (Managed Service Provider) software market caters to the IT needs of large multinational corporations, enterprises, and small businesses alike. With the increasing adoption of cloud computing and internet connectivity, MSPs offer outsourcing IT management services, including software licenses, hardware, and on-premise solutions. Cloud-based MSP software addresses security concerns, data privacy, software updates, troubleshooting, configuration changes, monitoring, remote management, and resource allocation. MSPs provide managed services for infrastructure, security, information, communication, mobility, and network, catering to various verticals such as Financial Services, Healthcare, Automotive, Retail, and Utilities. They offer managed services for on-premises solutions as well as cloud-based services, ensuring continuous support and on-going maintenance. MSPs address cybersecurity concerns, providing managed security services, disaster recovery, and compliance with regulations like PCI DSS, HIPAA, GDPR, and more. They offer specialized tools for capacity planning, load balancing, and centralized platform management for interconnected devices, data sources, sensors, and IoT solutions. MSPs also offer third-party data center services, virtual assistant services, supply chain management, and B2B integration. Their services help businesses optimize processing power, bandwidth, and storage while ensuring data security and compliance. With a skilled workforce, MSPs offer proactive monitoring, service standards, and cybersecurity defenses against cyberattacks, malware, and ransomware.

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/

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