As COVID-19 has opened the door for perpetrators to leverage the fears of people to serve their malicious ambitions, the rising security demands of organizations has driven many MSPs (Managed Service Providers) to seriously consider becoming MSSPs (Managed Security Service Providers). In addition, with profit margins declining from commoditized offerings, the need to provide higher-margin and value services is also a deciding factor in transitioning from MSP to MSSP.
According to ‘IDC’s Service Provider Pulse: 2Q20’, 16% of a service providers’ total revenue came from managed services, and from that, managed security services accounted for the highest percentage of revenue at 10%. With managed networks, app optimization and performance management growing year over year, it’s becoming more transparent for MSPs that developing broader areas such as security can aid their customers with their business.