MSP Software Market Size Report Predicts Healthy Growth with Demand & Forecasts by 2024-2031

The global MSP software market is anticipated to grow at a considerable CAGR of 12.3% during the forecast period. The main focus of MSP is to remotely monitor and control client IT environments. It offers automated functions that eliminate time spent with recurring tickets, providing a cost-effective relationship between clients and providers. Small and Medium-sized businesses mainly do not have the budget to spend on the IT team. MSPs as external providers help these businesses by providing access to the latest technology so as to maintain a competitive edge in their respective markets. The business concerning small and medium-sized enterprises, which do not have their own IT team, holds a major share of the MSP software market. Factors such as lack of IT professionals in the organizations and availability of IT services through managed service providers such as cloud storage, service maintenance, data backup, disaster recovery, authentication, network monitoring, and security, system manufacture, and infrastructure management at a lower budget are the primary drivers enhancing the market growth. The demand for IT services grows as there is development in the business. It not only allows the organizations to focus on the job assigned to their employees but also enables the organizations to fill the gaps as required by providing a flexible service model. The increasing automation in the IT environment, high cloud adoption, and the continuous increase in demand for IT services in small and medium-sized businesses contribute to improving the utility of MSP software in business organizations.

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The dearth of IT-skilled professionals, and the high cost of data loss, cyber-attack, and network downtime has increased in the past years. This can lead to an increase in demand for MSP software which can address the issues by keeping a security aspect in mind and provide a cost-effective solution to the businesses. However, growing pressure from statutory regulations across the globe can slow down market growth. For instance, in October 2021, Wipro announced a multi-year global strategic IT and digital agreement with National Grid, a leading multinational electric and gas utility provider headquartered in London, to accelerate its digital innovation journey. Wipro will use standardized tools and processes to provide cloud services that will strengthen National Grid's infrastructure services as part of the agreement. For instance, in March 2022, Oracle Cloud Infrastructure (OCI), a cloud infrastructure service of Oracle, released 11 new networking, computing, and storage services and capabilities that enable customers to run workloads more quickly, securely, and affordably. These new services provide customers with fully flexible core infrastructure services at significant cost savings by incorporating resources that are automatically optimized to match application requirements.

Global MSP Software Market Report Segment

• By Type

o Managed Data Center
o Managed Network
o Managed Mobility
o Managed Infrastructure
o Managed Backup & Recovery
o Managed Communication
o Managed Information
o Managed Security

• By Deployment Model

o On-Premise
o Cloud-Based

• By Organization Size

o Large Companies
o Small & Medium Companies
• By Verticals
o Government
o BFSI
o Transport & Logistics
o IT & Telecommunication
o Manufacturing
o Automotive
o Healthcare & Life Science
o Others (Retail, Education, Energy, & Utilities)

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MSP Software Market Report Segment by Region

North America

• United States
• Canada

Europe

• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World

• Middle East & Africa
• Latin America

Company Profiles

• Alcatel-Lucent Enterprise
• AT&T Inc.
• Avaya Inc.
• BMC Software, Inc.
• CA Technologies, Inc.
• Cisco Systems, Inc.
• DXC Tec SolarWinds MSP UK Ltd.hnology
• Fujitsu Ltd.
• Hewlett Packard Enterprise Development LP
• IBM Corp.

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