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Industry Landscape
The Managed IT Services (MSP) industry is experiencing robust growth, driven by increasing digital transformation, cybersecurity threats, and the need for cost-effective IT management. SMBs are increasingly outsourcing IT to focus on core operations. Cloud adoption and hybrid work models further fuel demand for comprehensive, proactive, and secure IT solutions. Competition remains high, but specialized services and strategic partnerships are key for success.
Total Assets Under Management (AUM)
Managed Services Market Size in United States
~329.81 billion USD
(13.6% CAGR)
- Growth in cloud-based services.
- Rising demand for cybersecurity.
- Increased IT outsourcing by SMBs.
Total Addressable Market
329.81 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Powered Cybersecurity
Utilizing artificial intelligence and machine learning to proactively detect, predict, and respond to cyber threats with greater speed and accuracy than traditional methods.
Edge Computing for IoT
Processing data closer to its source (e.g., IoT devices) rather than relying solely on centralized cloud servers, reducing latency and improving data security for connected devices.
Hyperautomation
An approach that combines advanced technologies like AI, machine learning, and robotic process automation (RPA) to automate processes that previously required human intervention, across various business functions.
Impactful Policy Frameworks
NIST Cybersecurity Framework 2.0 (2024)
NIST Cybersecurity Framework 2.0, released in 2024, expands on its predecessor to provide more comprehensive guidance for organizations of all sizes, emphasizing governance, supply chain risk management, and continuous improvement in cybersecurity practices.
This framework will drive SMBs to adopt more robust cybersecurity measures, increasing demand for MSPs like Synergy to provide compliant and integrated security solutions.
American Data Privacy and Protection Act (ADPPA) - Proposed
The proposed American Data Privacy and Protection Act aims to establish a comprehensive federal data privacy law in the United States, regulating how companies collect, use, and share consumer data, impacting businesses across all sectors.
If enacted, this federal privacy law will necessitate businesses to re-evaluate their data handling practices, increasing the need for MSPs to ensure client compliance with stringent data protection requirements.
Cyber Incident Reporting for Critical Infrastructure Act of 2022 (CIRCIA)
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 will compel critical infrastructure clients to prioritize rapid incident response and reporting capabilities, expanding opportunities for MSPs to offer specialized cybersecurity services and compliance assistance.
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