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5 Channel Partner & MSP Market News Updates: 8 March 2023

Illustration of a coffee cup with a ying yang

Illustration of a coffee cup with a ying yang

Happy International Women's Day. Here are five technology news updates, insights, chatter, and plenty more to start your day on Wednesday, March 8. Sip up.

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Today’s Technology and MSP Partner Program News

  1. What's up with managed services tools vendors?: Managed services platform vendors (PSA and RMM) have dropped from double-digit growth to high single-digit growth for the first time in memory, reports Canalys chief analyst Jay McBain in a LinkedIn post. McBain says the total global market in Q4 2022 was $390 million. He blames private equity cost cutting for the slowdown. ConnectWise leads in market share at 24.2%, followed by N-able at 16.2%, Datto at 7.7%, Kaseya at 7.6%, and the total of all others at 44.3%. Lots of great info in this LinkedIn post, so after you are finished reading here, you should head over there. More on this here soon.
  2. Women in the lead: On this International Women’s Day, let’s highlight a few recent executive appointments at cybersecurity provider, Check Point Software Technologies. Dr. Dorit Dor is promoted to chief technology officer, Rupal Hollenbeck is president, and Nataly Kremer joins as chief product officer and head of research and development.
  3. Deeper partnership for cybersecurity: Netsurion is going deeper in its partnership with Deep Instinct, provider of endpoint detection and response technology that leverages AI and deep learning. The partnership, which started in 2020 to bring managed EDR under the Netsurion Managed XDR solution in order to provide a more complete solution to customers, is now yielding results. Netsurion has improved Deep Instinct dashboards within the Netsurion Open XDR console, updated support for MacOS and Linux endpoints, and in the process has provided more in-depth visibility and co-managed SecOps.
  4. Cybersecurity still strong: While some big tech vendors complain of economic headwinds as they lay off thousands of workers, the same headwinds don’t seem to be hitting cybersecurity vendors. CrowdStrike Holdings this week announced record net new ARR (annual recurring revenues) of $222 million and ending ARR growth of 48% year-over-year. The company added 1,873 net new subscription customers in the quarter for a total of 23,019 as of January 31, 2023, representing a 41% growth rate year-over-year.
  5. Talent Market Update: Finally, also in spite of those tech company layoffs and other cost cutting, the overall labor market is remaining strong. The February ADP National Employment Report revealed that private sector employment increased by 242,000, and annual pay was up by 7.2%
Jessica C. Davis

Jessica C. Davis is Editorial Director of CyberRisk Alliance’s channel brands — MSSP Alert and ChannelE2E. She also oversees content and programming for the MSSP Alert Live event. She has spent a career as a journalist covering the business of technology including chips, software, the cloud, AI, and cybersecurity. She previously served as Editor in Chief of Channel Insider and later of MSP Mentor where she was one of the first editors to oversee the creation and vision of the MSP 501 list.

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