5 Security Trends That Emerged in the 2020 MSP Benchmark Survey

2020 MSP Security Trends

In this year’s MSP Benchmark Survey, 1,300 professionals from MSPs of all sizes revealed their cybersecurity concerns, needs and opportunities, as well as the factors that have been instrumental in combating today’s cyberthreats. Let’s take a look at five security trends that have been shaping the MSP market in recent times:

1. Security remains a top concern for MSP clients

Security, not surprisingly, is paramount to MSP clients, with 77 percent of MSPs stating that no less than 10 to 20 percent of their clients have experienced at least one cyberattack within the 12 months prior to the survey.

Percentage of Clients That Have Experienced Atleast One Cyberattack Within the Past 12 Months
Percentage of Clients That Have Experienced Atleast One Cyberattack Within the Past 12 Months

“Meeting security risks” is the top priority for MSP clients while cybersecurity services, such as antivirus, antimalware and ransomware protection, take the second spot in the list of IT service needs.

IT Needs of MSP Clients
IT Needs of MSP Clients

2. MSP clients depend on multiple security solutions

With the advance in technology, businesses depend on fragmented IT environments, which also expands the threat landscape. In order to defend themselves against rising cyberattacks and threats, no less than 44 percent of MSP clients seem to be using more than three security solutions.

No. of Security Solutions MSP Clients Use
No. of Security Solutions MSP Clients Use

3. MSPs themselves are no strangers to cyberthreats

As MSPs are tasked with securing client infrastructure, it seems they have also become attractive targets for cybercriminals. By breaching one MSP, cybercriminals can gain access to their clients’ environments for ransomware or other types of attacks. In our 2020 survey, 37 percent of participants said they felt their MSP business was more prone to cybercrime risk as compared to in 2019.

Cybersecurity Risk Level to MSPs
Cybersecurity Risk Level to MSPs

4. MSPs see high growth in revenue through security services

The 2020 survey reveals that businesses are depending on MSPs more than ever for better protection. Almost all MSPs (about 95 percent) have had either some or most of their clients turn to them for counsel on cybersecurity plans and best practices.

Clients Turning to MSPs for Counsel on Cybersecurity Plans
Clients Turning to MSPs for Counsel on Cybersecurity Plans

This demand for security seems to have translated to a business opportunity for MSPs. Almost 73 percent of MSPs have reported that the status of revenue for security services has gone “up” in the past 12 months. Some of the top security services that MSPs provide include antivirus, antimalware, firewall, VPN management and OS patching.

Top 5 Security Services Offered
Top 5 Security Services Offered

5. Two-factor authentication (2FA) important for MSPs and clients

2FA is a security feature that enables MSPs to ensure and enhance security with two layers of defense against brute attacks. It protects user credentials and resources from hackers and has rightly gained significance among MSPs. About 91 percent of respondents consider 2FA important for both their internal and customer systems.

2FA Important for MSPs and Clients
2FA Important for MSPs and Clients

For more information on how MSPs can leverage security, join industry expert and TruMethods President Gary Pica for the webinar How MSPs leverage security in the COVID-19 world.

NOC- Network Operations Center

NOC: An MSP’s Guide to Network Operations Centers

Network operations center (NOC) services, in the context of modern-day IT managed services, typically involve the delivery of IT servicesRead More

person fixing a broken laptop

Break/Fix vs. Managed Services: All You Need to Know

IT service providers have come a long way over the past couple of decades. With the rapid rise in theRead More

Person stacking numbered blocks

5 Services for MSP Revenue Growth: Going Beyond Traditional IT Services

MSPs have undergone a tremendous evolutionary shift over the past decade. Their customers are increasingly moving to multi-cloud environments andRead More

Connected applications - Remote monitoring and management

What is Remote Monitoring and Management (RMM)?

Remote monitoring and management (RMM) is the process of remotely monitoring and maintaining IT infrastructure. RMM software is mostly usedRead More

Connect IT Global - You're Invisited! - Join us at ARIA Casino & Resort - August 24-27, 2020
2020 MSP Benchmark Survey Report