The top MSP (managed service provider) trends in 2023 will determine the direction of the industry. By following the developing trends and providing in-demand products and services, MSPs can take advantage of these shifts. MSPs need to recognize emerging trends and adapt to them to ensure longevity and prosperity for their business.

4 MSP Trends for 2023

These are four of the top trends to consider when planning your business goals for the next few years.

Consolidation and Acquisition

Many larger MSPs are quickly increasing their market share by acquiring smaller companies. Consolidation can broaden your reach and increase growth simultaneously. A bonus of acquisition is that it solves the talent shortage problem of finding and hiring IT experts. The consolidation trend will continue because it's an effective way to expand into new industries and markets while getting the skills you need.

CRaaS (Cyber Recovery as a Service.)

Although backing up sensitive data is essential, a service of greater importance is accelerated data recovery following a cyberattack or emergency. Companies now expect to be operational within hours. With a stronger focus on data recovery, MSPs can assist their customers in getting up and running as quickly as possible. As an MSP that can meet this challenge of cyber-recovery-as-a-service, your services will be in high demand.

Cloud Computing

Cloud computing is still the most popular method for data storage, and this increased demand is a growing challenge for MSPs. As an MSP, you must deal with security, scalability, and data management issues while also handling larger volumes of client data. One emerging solution to these challenges is multi-cloud management. This trend for 2023 shows an increasing number of companies utilizing cloud solutions from multiple companies simultaneously to obtain what they need to manage vital data. At the same time, MSPs have to work with customers with varying requirements while also providing them with the right solutions for their company. This juggling act is forcing MSPs to expand their service offerings.

Machine Learning

Machine learning is a technological trend that could significantly improve data management and protection. With this technology, MSPs can automatically analyze client data to look for potential issues. As the technology advances, MSPs could use predictive analysis to detect data problems before they occur, possibly preventing data loss or breaches. Machine learning is rapidly improving how the MSP industry uses AI (artificial intelligence).

The MSP trends of 2023 offer tremendous opportunities. As MSPS play a crucial role in cyberattack support, by understanding these trends, MSPs can capitalize on them and provide more services while edging out their competition. With the continued growth of the MSP industry, you are in a great position to achieve your goals while assisting your clients in achieving their goals of data protection and business continuity.

To help keep your client's data secure, learn from the data management experts at RingStor. We can help you grow your business by offering various solutions to store and recover vital data. For more information, email us or call us at (609) 955-3422 today.