A sudden wave of remote working has created an unprecedented demand for security solutions, but a new Business Report indicates that MSPs could lose vital business if they don’t balance their portfolio services accordingly

Chelmsford, MA – 21 May 2020 — /BackupReview.info/ — This year marks the third annual MSP Day, a movement Barracuda started in 2018 to celebrate and champion the managed services industry and the changes and challenges it meets with each new year. As has become tradition, today Barracuda launched its latest The Evolving Landscape of the MSP Business Report 2020 to coincide with this year ’s event.

For this year ’s MSP Day, The Computing Technology Industry Association (CompTIA), a leading voice and advocate of the global IT ecosystem, will be joining Barracuda for the first MSP Day virtual event. CompTIA’s Director of Member Communities, Miles Jobgen, will join Barracuda’s Director International MSP, Jason Howells, and VP MSP Strategic Partnerships, Neal Bradbury, to discuss this year’s report, alongside a host of videos and discussions on the state of the industry.

2020 ’s report takes a deep dive into the global MSP market, as channel partners the world over are presented with the opportunity to bolster their security offering to better support the new, more vulnerable mobile workforce that has emerged in the wake of the novel coronavirus.

Almost 300 global MSPs were interviewed for this year’s report, spanning the UK, US, Germany, Canada, Ireland, Belgium, Australia and Spain. The findings revealed that regardless of location, MSPs across the globe are facing similar challenges when it comes to provision and the growth opportunities around future security offerings.

Key findings:

      1. The majority of MSPs plan to expand their services portfolio in 2020. A significant 91 percent of MSPs said they were planning to increase the breadth and depth of their services capacity in the next 12 months.
      2. Managed services look to be the top revenue generator for the vast majority of respondents. 69 percent of respondents identified managed services as the biggest opportunity for increasing sales in 2020. This is significantly up since 2019, which saw 54 percent noting managed services as their biggest opportunity.
      3. MSPs favor a hybrid approach to services. 53 percent of respondents expect to generate more than half (51 percent) or more of their business through managed services in 2020, with approximately another 45 percent saying they expected to generate up to 50 percent of business through managed services.
      4. Security services are higher up the agenda for MSPs this year. Endpoint Security, Email Security and Network Security all made it into the top five services table in 2020. In contrast, in 2019 email security was the only security service to make the top five.
      5. Rising security concerns and a lack of in-house skills within end user customers are driving the need for third party service providers. A majority 79 percent of MSPs felt customer security concerns were a good opportunity, particularly with the rise of remote workers. 72 percent said the lack of in-house security skills among their customers was also creating new revenue possibilities.
      6. The vast majority agree that demand for managed security services is increasing. 88 percent of those questioned said that demand for security services was either ‘moderately’ or ‘significantly’ increasing.

This year’s findings once again indicate significant positive shifts in MSP perception, growth and adoption as end users look to recruit cost effective and trusted cybersecurity skills to address their own skills gap and protect their data from increasingly sophisticated cybercriminals.

“Since launching MSP Day and the corresponding Evolving MSP Landscape report, we’ve witnessed a steady rise in the appetite for managed services throughout the world, which is evident in this year’s findings,” says Brian Babineau, SVP and GM, MSP Solutions, Barracuda. “Among that appetite, security is the most sought after service, particularly given our current global situation and cybercriminals’ willingness to exploit organizations that are suddenly much more vulnerable.”

“Security as a managed service is only going to become more sought after as organisations continue to wrestle with a shortage of skills and adjust to new working conditions, presenting a huge opportunity for MSPs to bolster their portfolios and cement themselves further as vital partners to their customer base,” adds Carolyn April, Senior Director, Industry Analysis at CompTIA. “Despite the skills gap and the pressure of consolidation for many, this report portrays a growing opportunity for the MSPs of the world as adoption of managed services continues to rise – of which security offerings are the leading commodity.”

“Now in its third year, MSP Day has quickly become the event of the year for MSPs looking to capitalise on these and future opportunities.” April continues.

To view the full report and to join in the celebrations for MSP Day, click here: barracudamsp.com/globalmspday2020

About Barracuda
At Barracuda we strive to make the world a safer place. We believe every business deserves access to cloud-enabled, enterprise-grade security solutions that are easy to buy, deploy, and use. We protect email, networks, data and applications with innovative solutions that grow and adapt with our customers’ journey. More than 200,000 organizations worldwide trust Barracuda to protect them – in ways they may not even know they are at risk – so they can focus on taking their business to the next level. For more information, visit www.barracuda.com

Barracuda Networks, Barracuda, and the Barracuda Networks logo are registered trademarks of Barracuda Networks, Inc. in the US and other countries.

Contact:
Barracuda
+1.800.569.0155
info@barracudamsp.com
www.barracudamsp.com

Source: Barracuda

 

 

 

General Tags: online backup companies, online backup providers directory, top rated online backups, SaaS, online backup news, online file storage, software as a service, backing up online, online file backup, data storage, online backup services, cloud computing, online backup, CEO interviews, compare online backups, data security, online data backup, online backup reviews

Like us on Facebook




===========================
Do you like this post? Subscribe to our RSS feed ===========================



Share/Save/Bookmark

Related posts:

  1. Barracuda Networks Launches Ultimate File Sharing, Sync and Storage Service Based on Secure Global Barracuda Cloud
  2. Barracuda Recognized in 31st Annual Awards of Excellence by Tech & Learning Magazine
  3. Barracuda Adds Virtual Appliance Option to Barracuda Backup – Intronis MSP Edition
  4. Barracuda MSP Announces Strong Performance Internationally
  5. Barracuda Introduces First Global Secure SD-WAN Service Built Natively on Microsoft Azure
  6. Barracuda Delivers New Features and Flexibility for Cloud-Connected and Private Environments with Barracuda Backup version 6.0 and the New Barracuda Backup 995
  7. Barracuda Names Channel and Storage Industry Veteran Chris Ross as Senior Sales Vice President, Global Channels
  8. Barracuda Launches Barracuda Backup 290 and Doubles Capacity of Backup 390
  9. Intronis MSP Solutions by Barracuda Introduces New Backup Appliance; Unveils New Corporate Branding as Part of the Barracuda Family
  10. Barracuda Expands Storage Capacity and Performance for Barracuda Backup Solutions

Tags: ,