Looking back on 2021, one thing is certain. Technology continues to drive businesses back to sustainable profits and economic expansion. It boosts productivity and provides new, innovative ways to safeguard data. Cloud adoption was still picking up momentum, and the MSP came out on top as the tech hero of the year. (Of course, here at HostedBizz we may be biased, but we did experience first hand how our MSP and IT provider partners pushed on through strange times, to deliver top class managed services to clients around the globe.) Now, as we say “adios!” to 2021, we have some great expectations for 2022. Here they are:
Managed services revenues steadily rising
The global managed services market will reach $257.84 billion USD in 2022. In 2021, organizations embraced remote work technologies and watched their productivity soar, while others realized the true value cyber security protection solutions after falling victim to ransomware. Keeping on top of these technologies can be tricky for SMBs with smaller IT teams, and growing business requirements. Key drivers in their reliance on MSPs, such as shortage of IT staff, cloud migration, cyber security concerns, the complexity of emerging IT, and the cost-effectiveness of managed services. MSPs that offer a comprehensive, cloud-based suite of data protection and productivity tools will see gains in their managed services portfolio in 2022. Need support with your current solution offerings? Book in a call with us, and we can provide you with a free assessment of your current solution portfolio.
Cloud revenue – onwards and upwards
It’s cliché, but true. The cloud market is still experiencing rapid growth. It is predicted that public cloud spending will reach up to $482 billion in 2022. At an increase of 21% from 2021, be prepared to see an increase in cloud services revenue. Spending in Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS) will represent the biggest fraction of that revenue. MSPs are partnering with cloud service providers that can provide them with a scalable, secure, sovereign cloud foundation that supports cloud-based data protection and productivity solutions. Learn more about how HostedBizz enables its partners to provide the best-in-class cloud experience.
Providing cyber security protection isn’t as daunting as it looks
Cyber security spending is expected to rise 66% in 2022, and more security vendors are recognizing the importance that MSPs play in providing a holistic approach to data protection. HostedBizz offers an MSP-tailored managed detection and response (MDR) platform called Covalence, that provides MSPs with 24/7 support from a team of live cyber security experts. Incoming threat alerts are analyzed and simplified before reaching your MSP team, to ensure accurate remediation when needed. Not only is it cost-effective, it’s the most sophisticated (but not complicated for the MSP) platform ever developed. Couple Covalence with HostedBizz’s marketing and sales support for partners, and you’ve got a winning combination for a successful managed security services practice.
As we enter the new year, rest assured that good things are coming! From the HostedBizz team to our partners, new and old, Happy New Year.