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Knowledge Base is CloudBlue’s podcast all about the topics and ideas in Everything as a Service (XaaS), Software as a Service (SaaS), the XaaS ecosystem and its players, and everything we would like to inform and educate the world about.
This episode is all about IT Managed Service Providers (aka the MSPs), presented by Ashwani Kumar, CloudBlue Product Manager, and in-house IT expert.
He will talk about what MSPs are and how they have evolved over the years, and cover some of their current challenges and opportunities in the age of Cloud.
He will also cover their market size and the latest trends emerging out of it and talk about the ways in which they can differentiate themselves and grow their annual recurring revenue.
Quick episode summary
Managed Service Providers (MSPs) are third-party companies that manage a customer’s IT infrastructure and end-user systems, such as contract management, email solutions, data storage, hardware repair, software updates, cybersecurity, IT asset management, technical support, and more.
MSPs can offer their own native services, a provider’s services, or a mix of both, and work on a subscription service model, where they charge the customer on a monthly basis as per the Service Level Agreements.
According to a Gartner report, the Cloud Managed Service market is expected to reach $102 billion by 2025, and 26% of large organizations in mature economies will engage with MSPs for ongoing support of cloud-based strategic digital technology transformation.
MSPs play a crucial role in the end-to-end digital supply chain and are a key player in the subscription economy, making it important for them to stay ahead of the game in the competitive and rapidly evolving Cloud Managed Service market.