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.
“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.
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.
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.
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.
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.
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.
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.
