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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

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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..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

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. 

Research report provides comprehensive data on impact of trend. For more details- Download a Sample Report

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.

For more insights on driver and challenges – Download a Sample Report

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

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 Infrastructure. These solutions provide Service standards, Proactive Monitoring, and On-going Support to ensure seamless operations. Network security is a top priority, with offerings including Authentication and Infrastructure Management. IT Service Platforms offer B2B Integration for industries such as Transportation, Utilities, Media, and Supply Chain Management. Virtual Assistants and Data Centers, whether on customer’s premises or third-party, are essential for efficient information services. Continuous Support and Live Administration ensure business continuity, making Msp Software an indispensable tool for any organization.

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

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Miami Startup BOB Raises $5.5M To Build An AI-Powered Banking Platform

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The Miami-based company is building the most useful small business finance agent and banking platform in the world, with participation from Codie Sanchez, Mark Pincus,  and others.

MIAMI, Oct. 23, 2026 /PRNewswire/ — BOB AI Holdings Corp. (“BOB”), the AI finance employee for small business, today announced it has raised $5.5 million in seed funding. The round was led by Mischief (founder of Plaid, Zak Perret), with funding from Peter Thiel and participation from Codie Sanchez, Mark Pincus, Karman Ventures, and a group of additional investors and operators. BOB will use the capital to expand its product, grow its team in Miami, and bring a free AI finance agent to more of the small business owners who keep the American economy running.

The seed round brings together investors who share a conviction that small businesses deserve the same caliber finance department g that large companies take for granted. Mischief led the round, and Peter Thiel joined as a backer alongside Codie Sanchez, the investor and operator known for championing Main Street business ownership.

The funding follows BOB’s private beta launch in September 2026 and will support three priorities: deepening the product’s financial capabilities, scaling customer onboarding, and growing BOB’s team in Miami.

BOB is an AI finance employee that works alongside small business owners to handle the annoying but necessary financial work that usually eats their nights and weekends. Owners talk to BOB the way they would talk to a trusted bookkeeper or CFO, over WhatsApp, text message, Slack, Microsoft Teams, email, or the BOB app. BOB keeps the books, sends invoices, accepts payments, holds funds in a deposit account, and helps owners see where their cash is headed so they can make decisions with confidence.

BOB’s long-term goal is to be the most useful banking product in the world, and a banking product specifically built for this new world of AI agents, robots, and drones. But they are getting started by building the most useful and safe financial agent for small business owners. And instead of handing owners another dashboard to learn, BOB just does the work for them and communicates in plain language.

BOB’s wedge has been particularly effective because the company is laser-focused on small business owners who have largely been underserved by the wave of financial technology built over the last five to ten years. Many of those products were designed for the general market or for enterprise finance teams, and they assume the owner has time, training, or staff to run them. BOB starts from the opposite assumption. The owner of a roofing company, a restaurant, or a local services firm should be able to get real financial help without hiring a department to get it.

“Small business owners have been an afterthought for most of the financial technology built over the last decade,” said Adam Wininger, CEO of BOB. “They are running the business, doing the work, and then staying up late trying to make sense of their books. We built BOB to take that work off their plate entirely. Our goal is simple: to be the most useful banking platform in the world, and this funding lets us put our free CFO agent, BOB, in the hands of many more owners.”

“We invest in infrastructure that becomes indispensable, and a financial layer for autonomous agents is one of the clearest examples we’ve seen,” said Dustin Moring, General Partner at Mischief. “BOB is attacking an immense market at the exact moment AI is moving from advising on transactions to executing them. We’re proud to lead this round and back Adam and the team as they build the foundation agent banking will run on.”

About BOB

BOB AI Holdings Corp. is a Miami-based company building BOB, the AI finance employee and banking platform for small business. BOB handles bookkeeping, invoicing, payments, and cash flow for small business owners through the channels they already use, including WhatsApp, text message, Slack, and Microsoft Teams. BOB’s mission is to build the world’s most useful banking product in the world. Learn more at joinbob.ai. Disclaimer: BOB AI Holdings Corp is a financial technology company, not a bank.

Media contact

Joel Strauss – joel@strausscomms.com 

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SOURCE BOB AI Holdings Corp

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Union Home Mortgage unveils AI and automation advancements during 2026 Annual Partner Celebration

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The mortgage lender continues to make major technology investments going into 2027

STRONGSVILLE, Ohio, Oct. 23, 2026 /PRNewswire/ — Union Home Mortgage (UHM), a high-growth independent mortgage banking company with a world-class culture, recently unveiled an array of AI and automation-driven technological achievements during the company’s 2026 Annual Partner Celebration held Oct. 16-17 in Cleveland, Ohio. This world-class event brought over 850 UHM employees, known internally as Partners, together to highlight the lender’s year-to-date business results, set goals to multiply business success, and foster connection between colleagues. Most notably, technology took center stage, highlighting advancements made in 2026 and a sneak peek at what is coming next.

Attendees were given an inside look at the next phase of technology shaping the business, with demonstrations of both newly implemented tools and future-focused prototypes. These innovations, ranging from conversational voice agents for enhanced customer support to the elimination of tedious manual document review, showcased the transformative potential of technology and underscored the lender’s ongoing investment in smarter, more efficient workflows.

“What makes this event so meaningful is the chance to celebrate our Partners and the impact they have on our business and culture,” said Bill Cosgrove, CEO of Union Home Mortgage. “By creating opportunities for open dialogue and idea-sharing, we’re able to strengthen our culture and identify new ways to move our business forward. As we look ahead to 2027, we remain focused on our 3X initiative, empowering our Partners with the resources, technology, and support they need to achieve more while continuing to deliver a world-class experience for our borrowers. Technology will be the key to UHM’s future, and I can’t wait to see what new solutions are developed in time for our next Annual Partner Celebration.”

While this year’s Annual Partner Celebration was heavily focused on technology, the event also featured senior leadership across all departments and business channels taking the stage to share updates on critical areas such as sales performance, servicing, benefits, employee recognition, and more. UHM Partners also took part in a panel discussion and Q&A with CEO Bill Cosgrove and Sr. Vice President of Business Development Al Blank. In addition to those attending in-person, the rest of the mortgage lender’s 2,300 Partners streamed the event virtually across the country. Following the event, attendees were invited to attend a celebratory carnival featuring casino-style games, a golf simulator, Family Feud, a custom t-shirt press, and more – earning raffle tickets to win high-value prizes. The lender also raffled off tickets to the MLB American League Championship Series being played at Progressive Field, as Union Home Mortgage is the Official Mortgage Partner of both teams that played in the series – the Tampa Bay Rays and the Cleveland Guardians.

Throughout the week, Partners also attended individualized leadership summits specific to their department or role within the company, as well as a Hard Stops Summit aimed at examining existing hard stops in the loan process to streamline operational efficiency.

Internal loan officer coaching program Partners Coaching Partners (PCP), which pairs each participating loan officer with a high-performing mentor and an accountability partner at their production level, also held their Fall PCP Impact event on October 14-15. The group aims to equip members with the skills and knowledge to increase productivity, generate leads, finetune the origination process, improve teambuilding, and increase profit margins. Next year, the PCP program will celebrate its twentieth consecutive PCP Impact event, cementing its status as a pillar of Partner development at UHM.

About Union Home Mortgage
Union Home Mortgage Corp. (UHM) is a high-growth, full-service retail, wholesale, and consumer direct independent mortgage banking company with branches across the U.S. in 49 states + D.C. UHM is an in-house loan servicer offering world-class customer service through high touch communication & technology. A privately held family business, with a collaborative culture that stands out in the mortgage industry, UHM Partners (employees) are guided by a Code of Conduct that emphasizes respect, open communication, and accountability. All these principles translate to industry-leading customer retention and satisfaction. Some honors include being a Six-Year USA TODAY Top Workplace and a Twelve-Year Northeast Ohio Top Workplace. Learn more at www.uhm.com.

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SOURCE Union Home Mortgage

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Pew Funds 4 Biomedical Research Partnerships in Latin America

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Scientists will team up on interdisciplinary explorations

WASHINGTON, Oct. 23, 2026 /PRNewswire/ — The Pew Charitable Trusts announced today that four pairs of researchers from Latin America will receive funding to pursue collaborative biomedical research projects.

These eight esteemed scientists, all independent investigators in Latin America, will team up on interdisciplinary explorations that span plant biology, genetics, immunology, and more. Recipients will receive a combined $180,000 per pair—$90,000 annually over two years.

The Partnership Award was created to help advance scientific collaboration and networking among the biomedical research community in Latin America. Recipients include four alumni of Pew’s Latin American Fellows Program in the Biomedical Sciences, which has funded nearly 350 scientists from across the region since 1991. The Partnership awards were made possible by a grant from Biohub.

“Pew is proud to support these exceptional scientists from Argentina, Brazil, and Chile,” said Donna Frisby-Greenwood, Pew’s senior vice president for Philadelphia and scientific advancement. “Their creative ideas and pioneering approaches will undoubtedly lead to important discoveries that advance biomedical research across Latin America and the world.”

Recipients of this year’s Partnership Award are:

Luis F. Larrondo, Ph.D., Pontificia Universidad Católica de Chile, 2004 Pew Latin American Fellow

Gerardo Cárcamo-Oyarce, Ph.D., Pontificia Universidad Católica de Chile

Larrondo and Cárcamo-Oyarce will establish a new, light-based platform for studying the formation of biofilms by the bacterium Pseudomonas aeruginosa.

Priscilla Olsen, Ph.D., Universidade Federal do Rio de Janeiro (UFRJ), 2016 Pew Latin American Fellow

Beatriz Patricio, Ph.D., Universidade Federal do Estado do Rio de Janeiro (UNIRIO)

Olsen and Patricio will develop and test a new strategy to overcome antimicrobial drug resistance.

Paulo José P. L. Teixeira, Ph.D., Universidade de São Paulo, Escola Superior de Agricultura Luiz de Queiroz, 2013 Pew Latin American Fellow

Antonio Camargo, Ph.D., Universidade de São Paulo

Teixeira and Camargo will examine plant immune receptor specificity.

Marcelo Yanovsky, Ph.D., Fundación Instituto Leloir – CONICET, 2000 Pew Latin American Fellow

Esteban Beckwith, Ph.D., Instituto de Investigación en Biomedicina de Buenos Aires – CONICET – Partner Institute of the Max Plank Society

Yanovsky and Beckwith will study how organisms regulate gene expression in response to environmental stress.

Founded in 1948, The Pew Charitable Trusts uses data to make a difference. Pew addresses the challenges of a changing world by illuminating issues, creating common ground, and advancing ambitious projects that lead to tangible progress. Learn more at pew.org.

Press contact: Liz Lowe, 215-575-4812, elowe@pewtrusts.org

https://www.pew.org/en/about/news-room/press-releases-and-statements/2026/10/22/pew-funds-4-biomedical-research-partnerships-in-latin-america

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SOURCE The Pew Charitable Trusts

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