The managed services market is growing rapidly and is expected to be worth $197.8 billion by 2023. If you’re an MSP, this is great news! But it also means that you need to stay ahead of the curve if you want to remain competitive.
So what trends should you watch out for in the coming years? Below are five that we think will be driving the MSP market in 2023.
What Are the Major Trends Driving the MSP Market in 2023?
From the rise of the gig economy to the increasing popularity of managed services, there are several trends that will shape the MSP market in 2023. Here are five of the most important ones:
- The Rise of the Gig Economy: More and more businesses are relying on independent contractors to get work done. This is especially true in creative and technical fields, where talented professionals can be hired on a project-by-project basis.
- The Growing Popularity of Managed Services: More and more companies are turning to managed service providers to take care of their IT needs. MSPs are seen as a more cost-effective and efficient way to manage IT infrastructure than hiring in-house staff.
- The Emergence of AI and ML: Artificial intelligence and machine learning are two of the most rapidly growing fields in technology. They are being used in everything from fraud detection to medical diagnosis. MSPs that stay ahead of the curve by adopting these technologies will be well-positioned for success in 2023.
- The Increasing Importance of Cybersecurity: As our lives move online, the need for cybersecurity solutions is becoming increasingly important. Businesses of all sizes will need to make sure they have robust cybersecurity protocols in place to protect themselves from hackers and cybercrime.
- The emergence of 5G: 5G is the next generation of cellular technology, and it is expected to surpass 4G in terms of speed and bandwidth. This will have a major impact on the way we use the internet, and MSPs that are prepared for 5G will be at a major advantage.
Focus on Customer Experience
You need to focus on the customer experience if you want to succeed in the MSP market in 2023. In fact, it will be one of the most important trends to watch over the next few years.
Your customers are your lifeblood, and you need to make sure that you’re providing them with the best possible experience if you want them to stick around. That means offering them the right solutions, making it easy for them to get in touch with you, and taking the time to understand their needs.
Remember, the customer is always right. And if you focus on their experience, you’ll be in a much better position to succeed in the MSP market in 2023.
So, what does this mean for MSPs? If you’re looking to stay ahead of the competition, you’ll need to focus on delivering more value to your clients. This could mean expanding your services to include cloud-based solutions, or partnering with other providers to offer a more comprehensive portfolio of services.
You’ll also need to be prepared to compete on price, as more and more providers enter the market. And don’t forget to keep an eye on the latest technologies, so you can offer your clients the latest and most innovative solutions.
The MSP market is evolving rapidly, and if you want to stay ahead of the curve, you need to stay ahead of the trends.