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Today's Broad MSP Market Offers Opportunities for Providers and Customers Alike
Today's managed service provider (MSP) market is broad and diverse, and businesses are looking at the larger picture when it comes to selling services. Managed services no longer encompass basic IT and networking tasks, and the market has expanded to include everything from backup and disaster recovery planning to business analytics to e-discovery.
Managed services of today go well beyond offloading a basic IT service to a qualified provider. When an organization contracts with an MSP, they can expect to realize almost immediate cost savings along with the productivity benefits that go along with having more on-site resources available. By freeing up internal staff, companies can place more emphasis on their core business and use their manpower to focus on increased revenue, better sales and marketing strategies, training and other important, but often neglected, tasks.
The MSPs of today are no longer one-trick ponies specializing in a singular offering. Today's providers know that diversity and scalability are paramount, and broadening their portfolios is the only way to stay competitive and retain business while chasing new prospects. To achieve a broader portfolio, they understand the value of channel partnerships and relationships, and are increasingly working with complementary service providers they may have competed with in the past. By forging new partnerships, MSPs can not only offer a broader array of services, but can utilize their partners' training and marketing collateral, reaching broader audiences than they ever thought possible.
The managed services model offers solid benefits to both MSPs and their customers right out of the gate. But the advantages of this business model go well beyond hype - market research shows this industry is set to continue following a rapid growth pattern. A recent Infonetics Research study shows manufacturer-provided services for the enterprise will become a $25 billion market by 2016. The study found that revenue from manufacturer provided maintenance and support, professional services and hosted and managed services increased by nine percent during 2011, reaching $17 billion.
Managed print services alone will grow 11 percent annually from 2010 to 2015, according to an InfoTrends 2011 U.S. vertical market study. The market is expected to rise from $7.2 to $12.3 billion during that time period.
An upcoming webinar, presented by Shannon Kohn, marketing & channel relations director at Datto, along with Charles Weaver (News - Alert), CEO of the MSPAlliance, will further examine the managed services model. "Catch the Tide: Recurring Revenue the Easy Way" will be presented on Thursday at 11 a.m. ET and will focus on selling product versus recurring revenues as well as strategies and tactics for leveraging existing relationships.
Edited by Brooke Neuman