Is there a bigger boom in the offing for CSPs (Cloud Service Providers) and MSPs (Managed Service Providers) in India?
Recent trends seem to indicate a robust playing field for these entities. The latest 2022 Microsoft SMB Voice and Attitudes to Technology Study has unveiled some fascinating insights regarding the perceptions, attitudes, and preferences of SMBs towards technological adoption.
While 35% of SMBs are already spending more than 10% of overall revenues for technology, as compared to global counterparts, there are heartening revelations for MSPs and CSPs.
More than 1/3rd of small and medium businesses (SMBs) in the country prefer CSPs and MSPs as their chosen technology partners. This clearly indicates the changing shift in the landscape towards managed services.
More SMBs are now desirous of making investments in cloud-based services and solutions, along with managed IT services alongside.
SMBs are also seeking CSPs and MSPs for guidance and advisory abilities, while 31% prefer purchasing their technology services and products via CSPs and MSPs as well.
Many small and medium businesses lack the abilities to onboard IT specialists, leaving CSPs and MSPs suitably positioned in the market for backing technology needs of these organizations, helping them overcome technological challenges and supplementing their IT teams internally with specialist skill-sets.
25% of SMBs in the country also prefer collaborating with ISVs (independent software vendors) and application developers.
The growing preferences for CSPs and MSPs are an outcome of the broadening global inclination in favour of managed IT services.
The market for global IT managed services is forecasted to post growth of more than 8.1% (CAGR-compounded annual growth rate) in the 2020-25 period, as per a market research study in 2021 by Lenovo and Benori Knowledge Solutions. The total market will reach a whopping $329.1 billion by 2025, indicating an increase from 2019’s tally of $186 billion.
The banking and financial services (BFSI) segment is expected to account for the highest chunk of revenues in this regard.
At the same time, the managed IT services category is anticipated to reach $12.9 billion by 2025, indicating steady growth from $5.9 billion in the year 2019. Managed IT solutions are becoming more popular amongst companies since they can take care of security and IT-related issues while also being cost-friendly a well.
Businesses do not have to go for IT management at their own end, through recruiting a big internal division or outsourcing the whole IT infrastructure to any third party entity.
Managed IT services take care of things with a hybrid model where internal IT personnel are utilized and the IT team is supported on a third-party basis. Businesses with smaller or moderate budgets for building specialist IT teams may find this to be a good solution.
MSPs for instance, offer solutions including application, network, security, and infrastructure, through regular and ongoing support and administration at the premises of clients and also at hosting/data centers of MSPs or third-party data centers.
The MSP moniker originally covered device-based or infrastructure services, but now includes regular and continuous management, support, and maintenance. Cloud-based products are also finding favour amongst businesses, enabling them to achieve a total transformation, build competitive advantages, and make optimum usage of their resources.
This is another reason why CSPs are gaining higher traction across diverse business sectors.
CSPs and MSPs are set to be major beneficiaries of these evolved and clear preferences of small and medium businesses (SMBs) and the trend should continue well throughout 2023 and even beyond.
Is there are a bigger boom in the offing for CSPs (Cloud Service Providers) and MSPs (Managed Service Providers) in India?
Recent trends seem to indicate a robust playing field for these entities. The latest 2022 Microsoft SMB Voice and Attitudes to Technology Study has unveiled some fascinating insights regarding the perceptions, attitudes, and preferences of SMBs towards technological adoption.
While 35% of SMBs are already spending more than 10% of overall revenues for technology, as compared to global counterparts, there are heartening revelations for MSPs and CSPs.
More than 1/3rd of small and medium businesses (SMBs) in the country prefer CSPs and MSPs as their chosen technology partners. This clearly indicates the changing shift in the landscape towards managed services.
More SMBs are now desirous of making investments in cloud-based services and solutions, along with managed IT services alongside.
SMBs are also seeking CSPs and MSPs for guidance and advisory abilities, while 31% prefer purchasing their technology services and products via CSPs and MSPs as well.
Many small and medium businesses lack the abilities to onboard IT specialists, leaving CSPs and MSPs suitably positioned in the market for backing technology needs of these organizations, helping them overcome technological challenges and supplementing their IT teams internally with specialist skill-sets.
25% of SMBs in the country also prefer collaborating with ISVs (independent software vendors) and application developers.
