FUTURE TECHNOLOGY revenue growth over the next three years . This may be because small to medium-sized businesses , SMBs have recognised the criticality of IT and are turning to MSPs to provide those key IT and security services .
More than a third , 35 % of MSPs globally cite competition as their biggest challenge , up from 29 % last year .
Cybersecurity concerns , as well as challenges with managing hybrid or remote workforces , were among the top new business drivers , while cloud-based infrastructure design and management , along with office productivity software services , continue to dominate as the top services offered by MSPs .
Growth opportunities
As we progress through 2024 , collaboration software , self-service capabilities and storage design and implementation are notable growth opportunities for MSPs , according to the survey . There are some regional differences too : VoIP telephony , incident response and forensics , management of mobile phones , self-service capabilities and leveraged power apps are all more popular in Europe than in North America .
As they expand their portfolios further , many MSPs are also planning to add new services including business intelligence or analytics software . With the IT needs of their clients constantly changing , the main priorities that stand out for MSPs to keep in mind in the coming year include :
Embrace vendor consolidation
Vendor consolidation is more than just reducing vendors , it is about strategic partnerships . Building strong relationships with a select few can boost efficiency and service quality , cut costs and yield lasting results . Fewer vendors mean a streamlined supply chain , improving procurement ,
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