Adrian Johnson
TLDR:
- Cybersecurity remains a top revenue driver for a majority of MSPs.
- The 2024 MSP Benchmark Report by Kaseya highlights the importance of investing in the right technology to protect against cyberattacks.
In the 2024 MSP Benchmark Report released by Kaseya, close to 1,000 MSPs from different regions were surveyed, revealing key insights and trends in the industry. The report found that cybersecurity is a top revenue driver for 73% of MSPs, as the threat of cyberattacks continues to weigh on both MSPs and their clients. The report also highlighted that cybersecurity is considered a top IT challenge by 78% of respondents and emphasized the importance of investing in the right technology to combat evolving threats.
With the current economic landscape remaining uncertain, SMBs are under pressure to recession-proof their IT infrastructure and defend against cyberattacks. MSPs are increasingly incorporating advanced tools with integration and automation capabilities to meet the heightened demand for IT services. Those SMBs that have prioritized investments in technology and IT partners have seen fewer cyberattacks, with 64% of MSPs reporting that less than 10% of their SMB customers experienced a cyberattack this year.
Investing in IT management offerings with built-in automation integration capabilities is crucial, with 85% of participants stating that automation is a must-have. Integration between core MSP applications is also vital for IT executives, with 67% believing it is crucial for their work. Moreover, over three quarters of respondents agreed that integration between applications is a time-saving measure and drives efficiency, contributing to better business outcomes.
While many IT professionals are eager to use artificial intelligence (AI) to streamline IT tasks and achieve more balance, implementing these technologies poses challenges for 37% of MSPs. Attracting skilled IT professionals who understand new technologies is becoming more difficult and costly, with hiring being identified as the third most critical challenge for MSPs in 2024. The report also revealed concerns about work-life balance, with 40% of respondents indicating a well-balanced work-life situation.
