CSPs, MSP, Vulnerability Management, Ransomware

Channel Brief: IT Spending, Cloud Spending, More

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Grab a cup of your favorite morning beverage and check out the return of our regular market briefing for managed services providers (MSPs), IT service providers (ITSPs), technology service providers (TSPs), cloud service providers (CSPs) cybersecurity consultants, systems integrators, VARs, independent software vendors (ISVs), and distributors.

Scroll down for a quick view of upcoming in-person channel and MSP events at the bottom of this post (while we spiff up our industry calendar behind the scenes. It will return!)

And please send your news tips, information, and industry chatter to editorial director [email protected].

Sip up.

A. Today’s Tech, Channel and MSP News

1. IT spending to increase this year - Channel analysis firm Canalys says that IT spending will accelerate 6% in 2024 and partner delivered IT will account for 73% of the total. While economic headwinds like inflation and potential recession are real, especially in Q1 2024, IT investments are key in transforming and expanding operations, building resilience, and driving employee productivity, according to Matthew Ball, chief analyst at Canalys, specializing in cloud, cybersecurity and infrastructure.

2. Cloud spending to grow by 20% - Separately, Canalys said that cloud service spending would grow by 20% in 2024. For 2023 total cloud infrastructure spending few by 18%. Canalys said customers are expanding their future commitments with hyperscalers in anticipation of increased consumption requirements. Cloud migration efforts are also picking up again. 

3. Customer win - Open XDR company Stellar Cyber has scored a big customer win – mid-market professional services provider RSM US. RMS will use the Stellar Cyber Open XDR platform to unify, expand and control the cybersecurity defenses across its global MSSP client network. RSM US operates a global managed security operations service, known as RSM Defense, which offers around-the-clock threat detection, response and intelligence services to its clients. 

4. 5G security - Palo Alto Networks has launched end-to-end private 5G security solutions and services in collaboration with private 5G partners. Through integrations with private 5G partners, PAN says the new 5G security solutions and services create an ecosystem that lets organizations easily deploy, manage, and secure networks throughout their 5G journey. 

5. More ConnectWise vulnerability ripple effects - The recent cybersecurity incident at UnitedHealth’s Change Healthcare that led to slowdowns at pharmacies was caused by a strain of LockBit malware that was used to explit the vulnerabilities in ConnectWise ScreenConnect. ConnectWise refused to confirm the connection. (SCmagazine)

B. In-Person MSP and Channel Partner Events

  1. Right of Boom - March 6-8, 2024, MGM Grand Resort, Las Vegas
  2. CompTIA Communities & Councils Forum - March 11-13, Renaissance Chicago Downtown Hotel, Chicago
  3. N-able Empower - March 25-28 – Omni PGA Frisco Resort, Frisco, Texas
  4. Kaseya Connect - April 29-May 2, MGM Grand Resort, Las Vegas
  5. IT Nation Secure, June 3-5, 2024, Gaylord Palms Resort & Convention Center, Orlando, Florida
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.