Kaseya has released their 2020 MSP Benchmark Survey. The report lists six key themes. Quoting the report:
MSP customers, especially small businesses, have been facing increased security threats year over year. In the 2020 survey, 29 percent of respondents listed ‘‘meeting security risks’’ as the top IT need for their clients.
Nearly three-quarters of respondents (73 percent) experienced a revenue increase in the past year through providing security services followed by backup and disaster recovery (59 percent).
Two-thirds of respondents report that their clients struggle to meet compliance requirements, while the need to provide compliance services has increased in the past two years for nearly one-third of the MSPs.
Nearly 90 percent of respondents consider the expansion of their service offerings important. High-growth MSPs (with an average monthly recurring revenue (MRR) growth greater than 20 percent) have added about 4 to 5 new services to their offerings in the past two years.
MSP management of cloud environments has dropped from 70 percent of respondents in 2019 to 56 percent for public cloud, and from 59 percent in 2019 to 49 percent this year for private cloud.
Nearly 70 percent of respondents said that integration between their core IT applications is very important.
Why do we care?
First, I’m going to be dismissive of the integration data and the security services data, mostly because I don’t think there’s new things to learn here.
Two I care about. I’m worried about the drop in management of cloud environments – but the survey doesn’t answer why. Could it be because there aren’t good tools for this?
The other is about the expansion of service offerings – the addition of new services is a best in class activity, and as I have said several times recently, everyone should be reviewing their service offerings and phasing out older ones.