Barracuda Networks has announced key findings from its 2022 The Evolving Landscape of the MSP Business report, launched in conjunction with MSP Day. Now in its fifth year, MSP Day continues to highlight, challenge and celebrate the evolving managed services industry.
Barracuda surveyed 500 decision-makers and knowledge workers from MSPs in countries across the North America, EMEA, and ANZ regions, with between five and 250 employees.
This year’s report demonstrates that there is still a huge appetite for managed services, with global services-related MSP revenue set to increase by over a third in 2022 compared with 2021.
Service provision is also on a growth trajectory. In 2021, 53% of respondents’ income came from services, and this is predicted to rise to 63% in 2022. On average in 2021, respondents’ service offerings increased by four services, but in 2022, 94% expect their services portfolio to increase by an average of six services.
80% of respondents believed their customers are increasingly concerned about being breached by cybercriminals and are looking to them for help, which is creating more pressure on the MSP to deliver. Adding to that strain are evolving cybersecurity regulations. Just 36% of MSP respondents were confident of being fully up-to-date and compliant with these regulations and another 36% believe that there are too many cybersecurity regulations to comply with.
“The annual MSP Day and report is vital to properly understanding the concerns and ambitions of our partners,” said Jason Howells, VP International Sales, Barracuda MSP. “One of the most important things we can do for our channel partners is to keep asking the right questions, which enables us to identify where they need our help the most. The interactions we have on MSP Day are a critical part of achieving this as they give us the opportunity to address the points raised in the report and act on what our partners tell us.”
