The global managed IT services market will reach $354.8 billion by 2026, up from $242.9 billion in 2021, according to MarketsAndMarkets research. That's a compound annual growth rate (CAGR) of 7.9 percent during the forecast period, the market research firm says.
The growth rate largely aligns with ChannelE2E's repeated MSP market forecasts in 2020 and 2021, during which we predicted that the the MSP industry would grow somewhere between 8 percent and 9 percent annually.
In contrast, the MSSP (managed security services provider) market is growing closer to 12 percent to 15 percent annually, MSSP Alert forecasts. Much of the MSSP industry growth involves SOC (security operations center) as a service (SOCaaS), and the expansion from traditional MSSP services toward MDR (managed detection and response) and XDR (eXtended detection and response), MSSP Alert asserts.
MSP Market Growth, Size & Forecast: Managed Services Research Trends
Meanwhile, the MarketsAndMarkets managed services research report largely focuses on the enterprise MSP market. Key trends in that market segment, according to the research firm, include:
Robotic Process Automation (RPA), Public Cloud Services and MSPs
With the trends above in mind, ChannelE2E is closely tracking if or when RPA (robotic process automation) will influence, transform and/or further automate MSPs in the SMB sector.
Early RPA movers in the MSP market include ElectroNeek, which has raised $20 million to promote RPA to MSPs. Also, Ingram Micro agreed to distribute UiPath’s RPA software worldwide, the two technology companies confirmed in May 2021.
Also of note, ChannelE2E is tracking the continued rise of public cloud MSPs focused on Amazon Web Services (AWS), Microsoft Azure and/or Google Cloud Platform (GCP).
