5 things, Security Staff Acquisition & Development, Endpoint/Device Security, IT management, Channel technologies, MSP, Penetration Testing

Channel Brief: MSP Icon Connects Hirers, Job Seekers

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One of the consistent threads about the channel market and particularly the MSP and service provider corner of the channel is that it is incredibly community focused. MSPs help each other out, whether its through peer groups or other means. They show up for each other in times of natural disasters or cybersecurity incidents. They provide support to strangers who need it.

Another example of that altruistic community spirit came through in a LinkedIn post late last week. After layoffs hit channel/MSP platform companies Pax8 and ConnectWise (as reported here), channel icon Wes Spencer created a post designed to connect job seekers with hirers, and also connect job seekers with free services. The link to the post is in our roundup below.

We've also got a market forecast today around endpoint security and another one around IT professional services. Other news looks at a vendor risk management announcement about infusing a platform with AI.

Please check out our industry Mergers and Acquisitions list, updated daily, with an archive that goes all the way back to 2020. Check out the whole thing here. 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].

A. Today’s Tech, Channel and MSP News

1. Post a job, apply for a job - Channel icon Wes Spencer heard about the recent job cuts at Pax8, ConnectWise and other MSP vendor firms and wanted to help so he posted to LinkedIn, encouraging those who are hiring or who are in search of a job to comment on his post. The idea is to match job seekers with hirers. Check it out here.

2. Pen testing security gap - Is your MSP offering pen testing as a service? Pentera's third annual industry survey shows that 73% of organizations report changes to their IT environments at least quarterly. However, only 40% report pen testing at the same frequency. The gap represents an opportunity for service providers. 

3. AI-driven risk management update -  Trend Micro has launched AI-driven cyber risk management capabilities across its flagship platform, Trend Vision One. The new capability integrates more than 10 technology categories into one offering, improving proactive risk management, the company said.

4. Endpoint security opportunity - The global endpoint security market is forecast to grow by $12.8 million at a compound annual growth rate (CAGR) of 16.99% from 2023 to 2027, according to a new report from Technavio

5. IT professional services forecast - Another Technavio market report forecasts the global IT professional services market will grow by $460 billion from 2023 to 2027, at a CAGR of 9.09%. The firm noted that the IT professional services market faces a significant challenge due to a skills gap between graduates and employer requirements. 

6. Managed services deals tracked - Are you ready for co-managed opportunities? A new report from market analyst firm IDC showed that about 1,800 managed services deals were signed in 2023 worth more than $100 billion in contract value. Although the total number of deals declined compared to 2022, the average deal size has remained the same. IDC said there were more large deals (with total contract value of more than $100 million) signed in 2023 than in 2022. As predicted, IT spending by organizations is steadily increasing with larger investments in managed services deals involving cloud and AI services. This trend will continue over the next few years as more organizations experiment or go live with AI-enabled services. Although a significant portion of the IT spending will be AI-centric, cloud technology will continue to drive the IT market, IDC said.

B. In-Person MSP and Channel Partner Events

  1. Kaseya Connect - April 29-May 2, MGM Grand Resort, Las Vegas
  2. MSP GeekCon - May 19-21, Rosen Plaza, Orlando, Florida
  3. Dell Technologies World - May 20 -May 23, The Venetian, Las Vegas
  4. IT Nation Secure, (hosted by ConnectWise) June 3-5, 2024, Gaylord Palms Resort & Convention Center, Orlando, Florida
  5. Pax8 Beyond, June 9-11, 2024, Gaylord Rockies Convention Center, Denver, Colorado
  6. FLOWAutomation Conference (hosted by Rewst) – June 17- June 19, The Renaissance Tampa International Plaza Hotel, Tampa, Florida
  7. CompTIA ChannelCon, July 30 - August 1, 2024, Atlanta, Georgia, Hyatt Regency Atlanta
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.