How Big Is the MSP Industry?

How Big Is the MSP Industry and How Do MSPs Make Money

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.

TABLE OF CONTENTS

    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.

    BigOrange Team

    BigOrange Team

    At BigOrange Marketing our team helps dozens of companies win millions of dollars in business while delivering what others just promise. We provide websites and complete outsourced digital marketing plans to help you get found, get results and get your time back.

    Share the knowledge

    How Your Marketing Agency Can Help with Event Campaign Marketing

    How Your Marketing Agency Can Help With Event Campaign Marketing

    Marketing doesn’t always have to be digital or online. In reality, connecting with clients or colleagues can be even more valuable in person. Whether it’s…

    Explore this Topic
    social media engagement strategy

    What is a Social Media Engagement Strategy for My Business?

    I have to admit. For a long time, I let social media be only about sharing content from my website. About the content strategy and…

    Explore this Topic
    6 Reasons to Partner with a Digital Marketing Agency - BOM

    6 Reasons You Want to Partner With a Digital Marketing Agency

    As a business leader, you understand the importance of having a robust online presence in today’s digital age. Yet, keeping up with the constant changes…

    Explore this Topic
    Social Media LinkedIn

    How to Create Engaging LinkedIn Posts in Bulk

    Ready to get real results and enhance your social media marketing on LinkedIn with share-worthy content that aligns with your brand values? Build a Social…

    Explore this Topic
    effective social media posts

    What Types of Social Media Posts Are Most Effective?

    There are a lot of choices and directions you can go in when you look at all the types of social media posts, designs and…

    Explore this Topic
    Turbo-charge Your MSP Website - Unlock the Power of Lucky 13 - BOM

    Turbo-charge Your MSP Website: Unlock the Power of Lucky 13

    Managed service providers, want to transform your MSP website into a powerhouse of conversion?   Here are 13 essential points that will elevate your website’s performance…

    Explore this Topic
    How Prospective Customers Evaluate Manufacturers - BOM

    How Prospective Customers Evaluate Manufacturers

    Did you know that your next marketing breakthrough as a manufacturer could be hidden within the buying behaviors of prospective customers? The Shift From Handshakes…

    Explore this Topic
    Why is Social Media Topic Authority Important? Business Social Made Simple

    Why Is Social Media Topic Authority Important?

    Today’s marketing landscape is crowded. Every industry I can think of is full of firms that have a longer tenure, more capital and resources. Topic…

    Explore this Topic

    The 22 Best Digital Marketing Ideas to Drive Sustainable Lead Generation in 2024


    Ready to grow in 2024? A good plan has to be comprehensive and filled with the best ingredients--from SEO to content, social media to paid boosting. 

    Here’s what you’ll learn:

    • How to target efficiently with personas
    • How to assess if your website is hurting or helping you
    • How a content marketing plan will help you rank with Google through SEO
    • The social media tactics you need and the ones you can skip