From quickly changing consumer behaviors due to Covid-19, which has impacted both small and big businesses all over the world, to rapidly transforming technical demands in the “new normal,” business leaders across industries are struggling to come to terms with the impacts of this pandemic.
The lockdown imposed in various countries affected businesses and, consequently, leaders had to come up with innovative solutions to keep those businesses running and minimize losses. However, even as each business had its own unique challenges to overcome, one trend that has remained universal is that the companies with a robust technological backbone were able to wriggle their way out of the crunch faster.
So, how to get a strong tech backbone? Traditionally, many organizations have been hiring MSPs, or managed service providers, to help take care of their IT (information technology) operations and assist them in meeting their business goals. I’m sure this sounds familiar. The term MSP first originated around the 1990s and was essentially limited to remote support for IT Infrastructure; since then, the horizon had been expanding.
However, with the advent of the cloud, traditional MSPs are slowly getting replaced by cloud MSPs, reducing the need for physical infrastructure and manpower to a bare minimum. In fact, according to a study done by Grand View Research, the global cloud managed services market size is expected to reach USD $82.51 billion by 2025.