How Big Is the MSP Industry?

The managed service provider (MSP) industry has seen substantial growth over the past decade. Because our reliance on technology has steadily increased over the years, the need for robust IT infrastructure and management among businesses of all sizes is much more prominent. In early 2024, Statista reported that globally, the “managed services market was valued at nearly 279 billion U.S. dollars in 2022.” The largest chunk of this market is in North America, according to Statista, which also predicted the global managed services market to exceed 500 billion U.S. dollars by 2028.

 Managed service providers offer a range of services, including IT support, cybersecurity, network management and cloud services, allowing companies to manage their IT to its highest abilities.

How many MSPs are in the US?

In 2019, ConnectWise estimated that there were roughly 40,000 MSPs in the United States alone. This number has been growing steadily as more businesses recognize the value of outsourcing their IT needs. The demand for MSPs is particularly strong among small to medium-sized businesses (SMBs), which often lack the resources to maintain a full in-house IT team.

How do MSPs make money?

One of the most common ways MSPs generate revenue is through subscription-based services, where clients pay a monthly or annual fee for ongoing IT support and management. This model provides a steady revenue for the MSP and helps clients manage their IT budgets more effectively. MSPs may also offer project-based services, charging for specific tasks or implementations, such as setting up a new network or migrating to a cloud platform. 

How do MSPs charge?

The pricing structure of MSP services can vary depending on the size of the business and the range of services provided. Many MSPs offer tiered pricing plans, where clients can choose from basic, standard or premium packages depending on their budgets and specific needs. Some MSPs also offer pricing on individual services, allowing clients to select and pay for them as needed.

How much do MSPs charge per device?

One common pricing model among MSPs is per-device pricing. Clients are often charged a fixed fee for each device (such as desktops, laptops or mobile devices) that the MSP manages from behind the scenes. How much do MSPs charge per device? Prices can range widely based on factors such as the type of device, the level of service required, and the MSP’s geographical location. On average, businesses typically can expect to pay anywhere from $50 to $250 per device per month. 

Get Ahead of the Game and Hire a Marketing Agency

The MSP industry is a vital component of the modern technological landscape, providing essential IT services to businesses of all sizes and industries. With a growing number of these businesses in the U.S., MSPs have to carefully consider how they are going to draw in new clients. One of the effective options many MSPs choose is to outsource their marketing functions and hire an MSP marketing agency.

Our marketing experts at BigOrange Marketing offer a range of services to take the stress of marketing off of your shoulders. Schedule a non-sales call with us to learn more.