The 2024 MSP 501 winners share a common focus: offering cybersecurity, cyber resilience, or compliance services.
The Channel Futures 2024 MSP 501 comprises a diverse array of companies, ranging in size from small teams to organizations with over 15,000 employees, spanning five continents and 10 countries. Their revenue varies widely, from a few million dollars to hundreds of millions annually. Despite these differences, a unifying theme among them is their emphasis on managed security services.
Cybersecurity emerges as the most prevalent managed service among the 2024 MSP 501. While not unanimous, 99% of these MSPs reported revenue from security services, underscoring the critical importance of cybersecurity in today’s landscape. Additionally, other highly sought-after services include help desk/service desk (93%), managed email/anti-spam (91%), cloud storage (89%), and remote monitoring and management (88%).
Cybersecurity services encompass a broad spectrum of offerings today. These include endpoint security, network security, email security, end-user security training, managed detection and response (MDR), security information and event management (SIEM), security operations center (SOC), intrusion protection services (IPS), and dark web monitoring—all provided by at least three-quarters of the MSP 501. Unsurprisingly, 76% of these MSPs identified managed security as one of their fastest-growing areas last year, highlighting its pivotal role in their operations.
Beyond cybersecurity, these MSPs also excel in compliance and disaster recovery services, both increasingly vital in a regulatory environment that demands robust protections against data breaches and operational disruptions. Notably, 52% of MSPs offering AI-powered solutions are deploying these capabilities within cybersecurity services.
Disaster recovery, traditionally focused on natural disasters, has evolved into a critical cybersecurity strategy amidst rising ransomware threats. Jack Dziak, CEO of Recovery Point, emphasizes the significance of resiliency plans in light of cyber threats, stressing the essential role of comprehensive recovery strategies in safeguarding businesses.
Regulatory pressures further drive demand for stronger cybersecurity measures. Marc Capri, President of Ensono, highlights the evolving regulatory landscape and its implications for high availability and resilience planning, underscoring the mandatory nature of these protections.
Omega Systems, for instance, has expanded its services to include Smart Comply compliance as a service, Smart Guard MDR, and enhanced endpoint detection and response (EDR). CEO Mike Fuhrman emphasizes the growing complexity of cybersecurity and compliance needs across industries like retail, healthcare, finance, and legal sectors.
Fuhrman emphasizes the significant opportunity in cybersecurity, suggesting ongoing investments and strategic expansions to meet increasing market complexities and customer demands. This proactive approach positions MSPs as trusted advisors capable of ensuring compliance, fortifying security postures, and enabling rapid response to cyber threats.
In navigating these challenges, MSPs like RecoveryPoint advocate for stringent measures such as immutable snapshots, air-gapped backups, and comprehensive recovery planning. Dziak stresses the complexities introduced by dynamic production environments and the need for MSPs to innovate in solutioning, pricing, and service delivery.
Overall, the surge in cybersecurity threats necessitates MSPs’ pivotal role in delivering robust security, resilience, and compliance solutions. As companies grapple with evolving cyber risks, MSPs stand ready to provide essential expertise and support in safeguarding their digital assets and operations.
Source: channelfutures.com
