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Industry Landscape
The IT Management Software industry is experiencing robust growth driven by the increasing complexity of IT environments, the surge in cybersecurity threats, and the adoption of cloud-based solutions. There's a strong demand for unified platforms that simplify operations and enhance efficiency, particularly for Managed Service Providers (MSPs). Automation and AI are becoming critical for scalability and cost reduction.
Total Assets Under Management (AUM)
Managed Services Market Size in United States
~374.3 billion USD (2023)
(13.6% CAGR)
- Cloud-based services: Driving significant growth.
- Cybersecurity solutions: Increasing demand due to rising threats.
- Automation and AI: Key for operational efficiency.
Total Addressable Market
374.3 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Powered IT Automation
Leveraging artificial intelligence and machine learning to automate complex IT tasks, predict issues, and optimize operations, significantly enhancing efficiency and reducing manual effort.
Zero Trust Security Architecture
Implementing a security model that assumes no implicit trust inside or outside the network, requiring continuous verification of every user and device trying to access resources, drastically improving cybersecurity posture.
Edge Computing for IT Management
Processing data closer to the source of generation at the network's edge to reduce latency, improve real-time analysis, and enable more efficient management of distributed IT infrastructures.
Impactful Policy Frameworks
NIST Cybersecurity Framework (CSF) 2.0 (2024)
NIST CSF 2.0, released in February 2024, provides updated guidance for organizations to understand, manage, and reduce cybersecurity risks, applicable to a broader range of entities beyond critical infrastructure.
This policy will drive increased demand for comprehensive cybersecurity solutions and services, requiring businesses like ConnectWise to align their offerings with updated best practices and potentially integrate new security features.
State-level Data Privacy Laws (e.g., California Privacy Rights Act - CPRA, Virginia CDPA, Colorado CPA) (Ongoing)
Various U.S. states continue to enact and update their own comprehensive data privacy laws, expanding consumer rights regarding personal data and imposing stricter obligations on businesses for data handling and security.
These diverse state-level privacy laws necessitate that IT management software providers offer robust data governance, access controls, and compliance reporting features to help their clients meet varied regulatory requirements.
Cyber Incident Reporting for Critical Infrastructure Act (CIRCIA) (2022)
CIRCIA requires covered critical infrastructure entities to report significant cyber incidents and ransomware payments to the Cybersecurity and Infrastructure Security Agency (CISA) within specific timeframes.
This act increases the urgency for businesses to implement advanced threat detection, incident response, and forensic capabilities, pushing IT management software towards more proactive security monitoring and reporting tools.
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