FINAL WORD
under pressure from several key challenges , particularly the acute skills shortage within the IT industry .
Ironically , whilst this shortage is acting as a catalyst for organisations to engage the services of MSPs in the first place , it is also preventing MSPs from hitting their recruitment and training goals as well , leaving them unable to offer the level of service desired . According to one recent set of figures , over 90 % of UK businesses said there was an IT skills gap within the UK jobs market , a situation that is unlikely to change dramatically in the immediate future .
Then there is the issue of filling the growing number of AI-related roles . In common with just about every industry sector , MSPs are contributing to a trend that is already seeing 85 % of organisations investing in AI technologies .
Allowing for the fact that AI is attracting unprecedented levels of attention , it is hard to see a situation where , somewhat ironically , the demand for human experience and expertise can possibly be met .
Future balance
Ultimately , success for today ’ s MSPs comes down to striking the right balance between expanding services to capitalise on growth opportunities and meeting the expectations of customers in the face of tricky market challenges .
Rushed expansion can result in an overstretched operation that fails to deliver on the MSP values customers desire , such as deep knowledge , expertise and the ability to be a true partner . However , unwillingness to evolve and expand can have an equally adverse effect , resulting in the loss of market share to more agile competitors .
It is clear that the reliance on managed services has never been higher , nor does demand look to be slowing down any time soon . However , success will not be defined by the number of different hats an MSP can wear simultaneously , but rather its ability to execute on the ones it does wear to an expert level , whilst putting the customer front and centre . In other words , delivering on true MSP values . •
Key takeaways
• Being a true MSP is about more than just being a supermarket for services .
• According to a UK Government , the UK MSP market consists of an estimated 11,492 active providers .
• The proposition offered by managed service providers , MSPs has evolved significantly in recent years .
• Since the notion of outsourcing first emerged in the 1990s , its popularity , as well as the number of MSPs , has soared exponentially .
• McKinsey estimates the total addressable cybersecurity
market size to be around $ 2 trillion this year .
• The rise of cloud technology and as a service propositions mean companies are clamouring for the services of a trustworthy partner .
• AI will be a massive growth driver for years to come as organisations turn to MSPs to guide them through adoption and implementation .
• Despite opportunities for growth , MSPs are under pressure from several challenges , particularly skills shortage .
• MSPs are contributing to a trend that is seeing 85 % organisations investing in AI technologies .
• Success for MSPs comes down to striking the right balance between expanding services and meeting customer expectations .
• Rushed expansion can result in an overstretched operations that fails to deliver on values customers desire .
• Unwillingness to evolve and expand can have an adverse effect , resulting in the loss of market share to more agile competitors .
• Reliance on managed services has never been higher , nor does demand look to be slowing down any time soon .
• Success will not be defined by the number of different hats an MSP can wear , but rather ability to execute on the ones it does wear .
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