There seems to be no stop in sight for the continued growth of the global managed IT services market. According to recent research by Grandview, the market is expected to reach USD 552.35 billion by 2028 and is projected to expand at a CAGR of 12.7% from 2021 to 2028. Companies are making use of managed services and their applications in order to empower both short- and long-term strategic decisions. The digital transformation strategy of nearly all global organizations is resulting in rapid adoption of technologies such as IoT, cloud, and big data analytics with a commensurate growth in data center usage. This is why companies are increasingly relying on managed service providers such as Managed IT Services Joplin to manage their cloud, IoT platforms, containers, DevOps, and Big Data deployments. Successful deployment of managed services can help companies accrue significant gain in terms of IT cost reduction to the tune of 25-45% and increase in operational efficiency by 45-65%.
What are Managed IT Services?
Managed IT services broadly refers to the IT tasks and functions that companies tend to outsource to third party vendors or service providers. With companies struggling to maintain the integrity of in-house teams with increasing costs, a widening skills gap, the complexities presented by remote work and other challenges, managed services provide an easy way out for organizations focused on growth. Managed IT services provides benefits to companies with a wide range of remote Hybrid IT services, covering everything from specific on-demand response to 24/7/365 monitoring and cybersecurity protection. Organizations typically leverage managed IT services to lighten the load of in-house IT workload or to fill specific skill gaps. These services typically cover both on-premises IT and private cloud storage.
Managed IT services like IT Consulting Joplin can prove instrumental in significant increases in efficiency and reduction of operational costs including lowered in-house overhead, increased IT efficiency, and improved uptimes.
Top 5 reasons companies need MSPs
1. Industry-leading expertise at manageable rates
Tackling new technology is never a smooth sailing experience for organizations. There will always be unexpected bumps on the road. MSPs have the ability to make this journey significantly smoother as they have wide industry experience and deep sector expertise to help organizations implement new technologies in niche contexts that come with their own set of challenges. These specialists include technical, functional, architectural, and training consultants who can help you understand your specific requirements better and help you edge ahead of the competition while leveraging the greatest technical benefits with minimal outlay.
2. Improved efficiency with optimum resource usage
MSPs can service on premise and cloud infrastructures equally well – without the need for the time and expense involved in hiring and training new team members to look after the same responsibilities. With service-level agreements, you are guaranteed a degree of service and efficiency that simply does not exist with a newly recruited in-house team. Recent data indicates that it can cost companies over $1,886 per employee just for training. MSPs offer the added advantage of guaranteed first-call issue resolution and on-site support – thanks to leveraging some of the best technical minds and expertise in the industry. Better still, this domain and industry expertise is available to companies at a flat fee for companies that enables SMBs and start-ups to even out the playing field with the larger players thanks to competitive pricing made possible by economies of scale. Scaling your company, no longer appears to be a daunting task as the shared approach to managed services allows you to scale all resources including team members and infrastructure as per market demand.
3. Reduce Operational Costs
One of the major factors inhibiting growth for companies are the severe overheads involved in maintaining infrastructure and networks in-house. Often, companies end up spending valuable resources just acquiring tools that they may not even need in the long run as they increasingly shift from on-premise to cloud. Working with an MSP ensures that company resources are directed towards driving immediate technical and business results and trims the fat from your entire organizational process. MSPs automatically provide you with industry-leading tools and expertise necessary to set up a world-class infrastructure for your company and make it sustainable through flat monthly rates and pay-as-you-go services. The immediate and significant reduction in IT expenses, operational costs, and more results in companies conserving capital budgets to realize more important and long-term business goals.
4. Business Continuity
Disasters are now a given in the course of any business. MSPs guarantee resilience in your infrastructure with detailed disaster recovery plans, security for mission critical data and applications and business continuity irrespective of the nature or scale of the disaster. MSPs even guarantee minimal to zero downtime. To put the savings in perspective, it’s important to remember that on average, an hour of downtime costs a small business about $8000 and a large business an approximate $700,000.
The increased need for cybersecurity can now cripple many businesses from ever reaching their true potential. Businesses often struggle with this as maintaining the required skills and tools necessary for effective and evolving cyber security strategies in-house is simply not feasible. MSPs take the responsibility for maintaining end-to-end security with comprehensive network monitoring, software, and backup plans. You can reduce the risk of malware and phishing attempts significantly with MSP Firewall deployment, VPN Tunnelling and Monitoring and other bespoke cybersecurity services.
Managed IT Service Trends in 2022
From platform performance management to deeper strategic initiatives like cross-selling, AI-enabled managed services can reshape the functions of an organization. Thanks to AI, managed services can progress from routine tasks to enable organizations to meet their strategic objectives across multiple functional areas. Companies leveraging AI capabilities can easily adapt to changing market conditions. From automating mundane tasks to create revolutionary new products and services to building performance models from scratch to reduce operational costs or improve revenue potential – AI’s applications are virtually limitless. AI-based managed services can offer highly personalized services, effectively broadening the service horizon.
Internet of Things (IoT)
IoT and blockchain are going to be the technology drivers for the next decade with connected devices, systems, and services. These technologies are important as they offer a way to securely exchange information between devices without the need for a central server. IoT solutions can collect data and send it to the cloud in real-time which enables strategic decision-making based on analytics.
Cloud Computing and Automation
As cloud computing quickly becomes the industry standard, MSPs such as IT Support Joplin are required to step in to meet the growing need for data centers and solve critical issues with security and privacy. Top cloud managed service providers are able to unlock true business potential with customized automation tools that empower business analysts, analysts, and developers to complete tasks automatically and help companies automate core business functions seamlessly.