According to Canalys, large hyper scalers are recognizing the importance of involving the channel in successful cloud marketplaces. Marketplaces are becoming a popular route to market, and the involvement of partners is crucial for their success. Marketplaces are expected to be the fastest-growing market for cyber security and software, presenting an opportunity for the channel. Distributors play a critical role in managing transactions, and the hyperscalers recognize their value.
According to New Relic’s Observability Forecast report, outages with high business impact have a median cost of $7.75 million. More than 3 in 5 technologists reported that outages cost their organizations at least $100,000 per hour, with 1 in 5 companies enduring hourly costs of $1 million. Resolving high-impact outages takes more than 30 minutes for 3 in 5 respondents; for one-third of companies, it can take an hour or more. The financial impact of an outage is linked to lost revenue, making it crucial for CIOs to prioritize resolving IT outages promptly.
Why do we care?
The Canalys report underscores the increasing relevance of marketplaces for MSPs and IT outsourcing companies. Partnering with large hyperscalers can provide a new revenue stream and give MSPs a foothold in fast-growing markets like cybersecurity. It’s also a validation that the skills and capabilities of these providers are recognized as valuable in the broader tech ecosystem. Finally, note the why of marketplaces – if they’re driving demand, it’s a flywheel of growth.
The data from New Relic highlights the immense financial risks tied to IT outages. This highlights the critical role of MSPs in managing, preventing, and swiftly resolving outages. It’s not just a service metric; it’s a significant business impact metric that MSPs should incorporate in their value proposition.