Cyber security remains a top priority and growth area for MSPs, according to new research from Kaseya, with nearly three-quarters (73%) highlighting the segment as a top revenue driver.
Kaseya’s 2024 MSP Benchmark Report surveyed 1,000 MSPs from across the Americas, EMEA, and APAC regions, as well as IT professionals and business executives, for their perspectives on the current global MSP landscape.
The study revealed that MSPs continue to focus attention on the threat of cyber attacks, with 78% stating that they consider cyber security as a top challenge for their organization, up from the 67% recorded in last year’s report.
This heightened focus has led to a decrease in SMBs being struck by cyber attacks, Kaseya added, with almost two-thirds of respondents revealing that less than 10% of their SMB clients were hit this year.
Additionally, customers are increasingly leveraging MSPs as a valuable cyber security resource, with 46% revealing that most of their clients turn to them for advice on cyber security plans and best practices.
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"Cyber security remains a critical concern for MSPs, driven by two factors: the escalating threat landscape, and the persistent challenge proving high quality security services across all of their clients," commented Mike Puglia, general manager of security products at Kaseya.
"This year, we've witnessed a heightened sense of urgency compared to previous years.
“Even those MSPs who demonstrate proficiency in cyber security wrestle with the strategic dilemma of resource allocation. Our research underscores the imperative for MSPs to bolster their efforts to meet the rapidly growing market demands."
Automation and integration
To meet these demands, MSPs are turning to IT management solutions that include built-in automation integration capabilities.
The report found that a resounding 85% view automation as a “must-have” tool to increase operational efficiency, while 67% of IT executives stated that integration between core MSP applications ranks as “very important” for their operations.
According to the report, 75% said application integration saves time that can then be spent improving other business areas such as customer service and revenue, while 70% said it helps drive the efficiency of their technicians.
AI on the rise
As AI continues to gain prominence globally, IT professionals are looking to the technology to tackle pain points in their job roles, with the report revealing that 33% of participants are looking to leverage the technology to streamline their tedious IT tasks.
15% also said they are looking to AI to help strategize and grow their business.
However, 37% said implementing AI will be challenging, while 32% have seen a rise in businesses switching their legacy systems out for more efficient cloud and SaaS solutions.
Alongside the implementation of automation, integration, and AI, MSPs are also working to ensure their staff are equipped to understand these new technologies.
However, hiring suitably skilled IT professionals ranked as MSPs’ third most critical challenge in 2024, with 12% highlighting it as a concern, ranking behind the acquisition of more customers (36%), and the tackling of advanced security threats (19%).
