MSP Software Market size to grow by USD 178.85 million from 2021 to 2026|The increased adoption …
–
The MSP software market size is expected to increase by USD 178.85 million from 2021 to 2026, with a compound annual growth rate (CAGR) of 12.01%. This information comes from Technavio’s report, which also provides insights into the market’s historic period from 2017 to 2021 and its forecast period from 2023 to 2027. The market for MSP software is fragmented, with several global and regional companies offering their solutions. Some prominent companies in this market include Acronis International GmbH, AT&T Inc., Atera Networks Ltd., Auvik Networks Inc., Cisco Systems Inc., ConnectWise LLC, and more. The report also highlights key trends and challenges in the MSP software market. One key driver is the increased adoption of IoT solutions, which require MSP software for managing communication services and machine-to-machine connectivity. Another trend is the growing adoption of the bring-your-own-device (BYOD) policy, which is aimed at enhancing employee productivity. However, data privacy and security risks in cloud-based services pose significant challenges to the market. The market is segmented based on deployment (on-premises and cloud-based), type (managed data center, managed network, managed infrastructure, managed mobility, and others), and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The on-premises segment is expected to have significant growth due to its enhanced security compared to SaaS-based solutions. North America is estimated to contribute 37% to the market’s growth, driven by the strong presence of major manufacturers and the need for compliance management and modern technologies. Overall, the MSP software market is expected to experience significant growth in the forecast period, driven by factors such as IoT adoption and BYOD policies. However, data privacy and security risks pose challenges to the market’s growth.
Link: https://capedge.com/news/benzinga/33612678/msp-software-market-size