Technology

MSP Software Market size is set to grow by USD 181 million from 2024-2028, Increased adoption of IoT solutions to boost the market growth, Technavio

Published

2 years ago

July 4, 2024

NEW YORK, July 4, 2024 /PRNewswire/ — The global MSP software market size is estimated to grow by USD 181 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 12.12% during the forecast period. Increased adoption of iot solutions is driving market growth, with a trend towards increased adoption of bring your own device (BYOD) policy. However, data privacy and security risk in cloud-based services poses a challenge. Key market players include Acronis International GmbH, AT and T Inc., Atera Networks Ltd., Auvik Networks Inc., Bravura Software LLC, Cisco Systems Inc., ConnectWise LLC, DNSFilter Inc., Hewlett Packard Enterprise Co., Hornetsecurity Ltd., Infosys Ltd., International Business Machines Corp., Kaseya Ltd., LogicMonitor Inc., Opmantek Software Pty Ltd., ServiceNow Inc., TitanHQ, Trend Micro Inc., Wipro Ltd., Ziff Davis LLC, and Zoho Corp. Pvt. Ltd..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

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 Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

Acronis International GmbH, AT and T Inc., Atera Networks Ltd., Auvik Networks Inc., Bravura Software LLC, Cisco Systems Inc., ConnectWise LLC, DNSFilter Inc., Hewlett Packard Enterprise Co., Hornetsecurity Ltd., Infosys Ltd., International Business Machines Corp., Kaseya Ltd., LogicMonitor Inc., Opmantek Software Pty Ltd., ServiceNow Inc., TitanHQ, Trend Micro Inc., Wipro Ltd., Ziff Davis LLC, and Zoho Corp. Pvt. Ltd.

Key Market Trends Fueling Growth

The Bring Your Own Device (BYOD) trend in enterprise mobility is increasingly popular among corporations, allowing employees to use their personal smartphones, tablets, and laptops at work. This shift necessitates specialized management and IT service delivery frameworks to ensure secure and productive work environments. Companies focus on providing appropriate devices to their workforce, leading to an increase in the use of various operating systems and devices, such as iOS, Android, Windows, smartphones, and tablets, on corporate networks. The primary objective of implementing BYOD is to offer cost savings and mobility to employees while boosting productivity. Vendors provide solutions to create an infrastructure that enables employees to use their devices securely through robust internet connectivity. These factors are anticipated to fuel the growth of the Managed Service Provider (MSP) software market in the coming years.

In today’s business landscape, Managed Service Providers (MSPs) are trending in various industries including IT and telecommunication, transport and logistics, automotive, and retail. Large companies are increasingly relying on MSPs for managed infrastructure, communication, information, and security services. MSPs offer on-premises solutions as well as cloud-based options for B2B integration, transportation, utilities, media, and supply chain management. MSPs provide managed services using specialized tools for capacity planning, load balancing, resource allocation, storage, bandwidth, and processing power. They offer remote management, monitoring, configuration changes, troubleshooting, software updates, and data privacy protection. MSPs address security concerns with managed security services, safeguarding against unauthorized access, identity theft, and data leaks. IoT solutions with sensors as data sources and interconnected devices require specialized tools for managing data from various interconnected devices. MSPs offer a centralized platform for managing data centers and third-party data centers, ensuring data privacy and security. Virtual assistant services and data center services are in high demand, with capacity planning, load balancing, and resource allocation being key focus areas. MSPs provide a one-stop solution for IT firms, ensuring seamless IT service platform and information services.

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Market Challenges

Cloud-based Managed Service Providers (MSP) software adoption in organizations faces significant barriers due to data privacy and security risks. Cloud security management is a complex task for vendors, as online digital files require protection from unauthorized access to cloud-based IT infrastructure. Public cloud infrastructure, which is based on multiple open-source codes, can introduce vulnerabilities. Cyber-attackers can easily penetrate cloud-based data storage systems due to their open architecture and shared resources. Vendors must encrypt clients’ data and implement multi-factor authentication systems for user authorization. Adherence to regulatory guidelines for cloud security management is essential. In a multi-tenant cloud architecture, hackers may target data from other users on the same server. These factors pose challenges to the growth of the global MSP software market.In today’s business landscape, managing IT systems and ensuring security is a top priority. MSP (Managed Service Providers) software market offers flexible and scalable solutions to help companies tackle challenges such as vulnerability management, compliance requirements with GDPR, HIPAA, PCI DSS, data encryption, access restrictions, and audit trails. However, businesses face hurdles like natural disasters, cyberattacks, interruptions, and downtime, which can lead to constrained funding and the need for continuous support. MSPs provide on-going assistance in managing workflows, mitigating risks from hacking, and ensuring skilled workers are available. However, challenges like vendor lock-in, exclusive ecosystems, system crashes, sluggish performance, and outages persist. MSPs offer both on-premise and cloud-based solutions for enterprise IT, catering to large enterprises in healthcare and financial services. Their services include infrastructure management, managed data centers, managed networks, managed mobility, and cloud storage, among others. Outsourcing IT services can help businesses focus on their core competencies while ensuring on-going support and live administration from qualified IT workers.

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Segment Overview

This msp software market report extensively covers market segmentation by

Deployment 1.1 On-premises1.2 Cloud-basedType 2.1 Managed data center2.2 Managed network2.3 Managed infrastructure2.4 Managed mobility2.5 OthersGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 On-premises- The on-premises segment of the Managed Service Provider (MSP) software market is projected to experience substantial revenue growth compared to the cloud-based segment. This is due to the end-to-end quality control and heightened security features of on-premises MSP software. The market is primarily driven by large organizations in sectors such as BFSI, aerospace and defense, and government, which deal with sensitive data and are subject to stringent regulations. These organizations prefer on-premises MSP software to ensure compliance and maintain control over their data. For instance, government entities like the Central Intelligence Agency (CIA), Research and Analysis Wing (RAW), and Inter-services Intelligence (ISI) utilize on-premises MSP software due to the heightened security risks they face. Consequently, the on-premises segment is expected to expand significantly in the MSP software market during the forecast period.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report

Research Analysis

Market Research Overview

The Msp Software Market encompasses a range of IT solutions designed to help businesses manage and optimize their Cloud Services, IT Environments, Networks, Apps, and Hybrid Infrastructures. These solutions offer Service standards, Proactive monitoring, and Security features to safeguard against Cybersecurity threats such as Ransomware, Malware, and Data breaches. Compliance requirements like GDPR, HIPAA, and PCI DSS are met through Data encryption, Access restrictions, Audit trails, and Flexible and Scalable IT solutions. Disaster Recovery plans protect against Natural disasters, Cyberattacks, Interruptions, and Downtime, while Constrained funding and Skilled workers are addressed through Outsourcing IT services and On-going support. Managed services include Data center, Network, Mobility, Infrastructure, Communication, Information, Security, and various Vertical solutions. The market caters to Enterprise IT, Large companies in Healthcare, Financial Services, and other sectors, as well as Retail clients, IT firms, and various industries like Transport and Logistics, IT and Telecommunication, Automotive, and Media. The IT Service Platform provides B2B integration, Transportation, Utilities, and Supply Chain Management solutions, and includes Virtual Assistant technology for enhanced productivity.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

DeploymentOn-premisesCloud-basedTypeManaged Data CenterManaged NetworkManaged InfrastructureManaged MobilityOthersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

Technology

Monnit Introduces NIST Detachable Leads to Streamline Compliance Monitoring

Published

41 minutes ago

June 18, 2026

New hot-swappable lead architecture reduces downtime, simplifies recertification, and helps organizations maintain continuous monitoring.

SALT LAKE CITY, June 18, 2026 /PRNewswire/ — Monnit announced new NIST Standard and Low Temperature and Humidity Detachable Leads for compatible ALTA® Sensor Bases designed to simplify sensor recertification, reduce downtime, and support continuous compliance monitoring.

“Organizations shouldn’t have to choose between maintaining compliance and operational continuity,” said Brad Walters, Founder and CEO of Monnit. “Our detachable lead architecture allows customers to hot-swap certified leads in minutes while preserving traceability and keeping trusted monitoring programs running.”

Each NIST Detachable Lead is uniquely calibrated and designed to support traceability requirements aligned with the National Institute of Standards and Technology (NIST) standards.

Rather than removing and shipping an entire sensor for recertification, customers can disconnect only the lead, connect a certified replacement, and send the original lead for recalibration. This approach is ideal for pharmaceuticals, healthcare facilities, laboratories, food storage operations, manufacturing environments, and other applications that require calibration records.

In addition to these hot-swappable, removable leads or cables with probes, we offer short Monnit Standard Temperature and Humidity Detachable Non-Leaded Probes that you can connect to compatible sensor bases.

Each NIST Detachable Lead or Probe connects to compatible ALTA Industrial and Enterprise Sensor Bases via sealed, keyed M8 6-pin connectors designed for field installation. Embedded memory within the lead stores unique lead and sensor identification, calibration data, certification information, and traceability records.

Key features and benefits include:

Hot-swappable lead replacement that minimizes downtime and monitoring interruptionsNIST-traceable calibration support and ISO 17025-accredited lab certificationSupport for FDA 21 CFR Part 11 workflows and audit programsAutomatic synchronization of calibration information with iMonnit® SoftwareLogging of lead connection and disconnection events in iMonnitHot-swapping capability while powered on or off for easier servicing

Monnit and its accredited lab partner, Sensor Calibrations, provide 25-month certificates for NIST Detachable Standard Temperature Leads and 13-month certificates for NIST Detachable Low Temperature and Humidity Leads.

Compatible ALTA Sensor Bases automatically recognize connected lead types and maintain digital maintenance records, helping organizations avoid monitoring gaps caused by traditional recertification.

About Monnit Corporation
The origin story of the Internet of Things (IoT) begins with Monnit. Before our inception in 2010, we were already at the forefront of embedding technology into machines and devices to enable them to talk and deliver valuable data to business leaders. Monnit Remote Monitoring Solutions for nearly any industry use case have delivered 72B+ data points in 130+ countries for 90K+ customers. Monnit’s 80+ long-range IoT sensors remotely monitor many conditions such as temperature, light, humidity, water, vibration, pressure, and more. You can analyze data using iMonnit cloud software and get alerts via email, text, push notification, or call when our sensors detect a change you should know.

Media Contact:
David Hill
Marketing Communications
801-505-8172
417089@email4pr.com

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SOURCE Monnit

Technology

Monnit Introduces NIST Detachable Leads to Streamline Compliance Monitoring

Published

41 minutes ago

June 18, 2026

New hot-swappable lead architecture reduces downtime, simplifies recertification, and helps organizations maintain continuous monitoring.

Each NIST Detachable Lead is uniquely calibrated and designed to support traceability requirements aligned with the National Institute of Standards and Technology (NIST) standards.

Key features and benefits include:

Compatible ALTA Sensor Bases automatically recognize connected lead types and maintain digital maintenance records, helping organizations avoid monitoring gaps caused by traditional recertification.

Media Contact:
David Hill
Marketing Communications
801-505-8172
417089@email4pr.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/monnit-introduces-nist-detachable-leads-to-streamline-compliance-monitoring-302803906.html

SOURCE Monnit

Technology

deepset Joins HPE’s Unleash AI Program to Accelerate Sovereign Agentic AI

Published

41 minutes ago

June 18, 2026

SAN JOSE, Calif., June 18, 2026 /PRNewswire/ — deepset, the company behind Haystack, the production-ready open-source AI agent framework and platform, today announced it has joined the HPE Unleash AI partner program to help government, defense, and regulated enterprises deploy production-grade AI systems in sovereign, self-hosted, and air-gapped environments.

As part of the collaboration, deepset will leverage the Haystack Enterprise Platform, deepset’s platform for building, orchestrating, and governing AI agents and applications, and HPE’s AI ecosystem and infrastructure portfolio to help organizations rapidly identify and operationalize high-value AI use cases while reducing deployment complexity and risk. This enables customers to access AI-ready infrastructure, strategic guidance, and accelerated pilot execution to address their most challenging AI adoption and operationalization needs.

Together, the companies enable organizations to deploy AI agents, multi-agent systems, and Retrieval-Augmented Generation (RAG) applications on self-hosted, sovereign, and air-gapped infrastructure while maintaining full ownership over sensitive and classified data, models, and AI operations.

Customers can leverage the joint architecture to operationalize governed AI applications faster while maintaining the security, compliance, and deployment flexibility required for sovereign and mission-critical environments.

The HPE Unleash AI partner program is a curated ecosystem, combining ISV solutions that go through comprehensive validation testing with engineered HPE AI systems, including HPE Private Cloud AI and the broader HPE AI Factory with NVIDIA solutions, to deliver the performance, security, and scalability enterprises need for production AI. By joining the program, deepset expands access to governed AI platform capabilities designed for organizations operating in highly regulated environments, including public sector, defense, cybersecurity, and enterprise industries.

The Haystack Enterprise Platform enables organizations to:

Build and govern AI agents, multi-agent systems, and RAG applicationsDeploy AI on self-hosted, private cloud, and air-gapped infrastructureOrchestrate modular AI pipelines across models, databases, and enterprise systemsEnforce governance, auditability, and lifecycle management for production AISupport sovereign AI initiatives aligned with European and national security requirements

The collaboration builds on deepset’s experience supporting sovereign AI initiatives with organizations including the European Commission, the German Ministry of Research, Technology and Space (BMFTR), and other government, defense, and enterprise organizations deploying sovereign AI systems under strict governance and security requirements.

“With agentic AI moving into operational deployment, organizations need infrastructure and AI platforms they can control and trust,” said Milos Rusic, CEO and co-founder of deepset. “The challenge is getting agentic systems into production while maintaining control over infrastructure, governance, and sensitive data. Together with HPE, we’re helping customers deploy governed AI systems faster across highly regulated and mission-critical environments.”

Use cases supported through the joint architecture include:

Sovereign AI platform for public sector & regulated industry institutionsSovereign AI intelligence and decision-support systems for classified operationsCybersecurity investigation and threat analysisAI agents for technology, manufacturing, research, legal, and financial workflows

“The Unleash AI program is designed to help organizations deploy AI solutions faster and with greater operational confidence,” said Robin Braun, Vice President of AI Business Development, Hybrid Cloud, HPE. “Together, HPE and deepset are delivering secure, governed AI solutions that combine enterprise-grade infrastructure with flexible and governed AI agent capabilities to help customers operationalize AI across hybrid, sovereign, and classified environments.”

For more information, visit https://www.deepset.ai

About deepset

deepset is the company behind Haystack, the leading open-source framework and platform for building production-grade AI applications and agentic systems. deepset enables enterprises and public sector organizations to develop, deploy, and govern flexible AI applications powered by their choice of large language models, enterprise data, infrastructure, and governance policies across cloud, hybrid, and sovereign environments.

Media Contact
Steph McGuirk
417109@email4pr.com
845.269.8868

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SOURCE deepset