Barracuda MSP Report: Managed Services Continue to Grow as Customer Fears of Cyber Attacks Rise. Increasing security regulations unsettle MSPs. Manufacturer support and training is becoming increasingly important.
On the occasion of this year's Barracuda Global MSP Day, the cloud security specialist traditionally presents the results of the fifth edition of its study The Evolving Landscape of the MSP Business famous. Once again, managed service providers have been extremely positive about growth in this area. After all, 53 percent of income came from managed services last year, and those surveyed expect 2022 percent by 63. The study participants expect sales to increase by around a third worldwide.
In general, the survey of 500 managed service providers worldwide with five to 250 employees showed that there are similar opportunities and challenges in the delivery of managed services in different regions and that customer expectations put similar pressures on the providers.
Key findings from the 2022 report include
🔎 When you think about your company's customers, which of the following reasons are the most important? Why do they seek outside help when dealing with cybersecurity? (Image: Barracuda MSP).
- MSPs expect revenue growth in 2022 of more than a third. Average sales this year will be $12,12 million compared to $8,93 million in 2021.
- Managed Services are not the only source of income for many respondents, but one with constant growth. In 2021, 53 percent of revenues came from managed services, and it is expected to increase to 2022 percent in 63.
- For 2022, 94 percent of those surveyed expectthat their service portfolio will grow by an average of six offers. In 2021 there were an average of four services.
- Employee burnout is a growing problem, so to remain successful, MSPs need to focus more on the well-being of their employees. Almost one in five respondents (16 percent) believe that the average employee is highly stressed.
- Customer concerns about cyber attacks is increasing, according to 80 percent of those surveyed, as more and more support is being asked for in terms of security.
- The evolving cybersecurity regulations add to this pressure. Only 36 percent of MSPs surveyed are confident they are fully up to date with and in compliance with these regulations. Another 36 percent believe there are too many regulations. 89 percent believe their organizations need further support and training on these regulations. Left unaddressed, these issues could lead to problems in employee performance and customer service.
- 98 percent of respondents saidthat they need additional support from a manufacturer in at least one area. These included incident response planning (44 percent of respondents), help with best practices for hybrid working (50 percent), and marketing support (44 percent).
“The annual MSP Day and report is critical for us to properly understand our partners' concerns and aspirations,” said Jason Howells, VP International Sales, Barracuda MSP. "Both are so important so that we can always ask our partners the right questions and use their answers to find out where they need our support most urgently."
Barracuda surveyed 500 decision makers and professionals from managed service providers with five to 250 employees in countries across the North America, EMEA and ANZ regions. The full report is available online at the link below.
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About Barracuda MSP To thrive in today's ever-evolving cyber threat landscape, managed service providers must run their business as a security-centric enterprise. Barracuda MSP enables IT managed service providers to easily scale their business with a combination of multi-layered security and data protection solutions, award-winning support, and MSP-friendly prices. Barracuda MSP's industry-leading IT security solutions are trusted by nearly 5.000 IT service providers worldwide.