BARRACUDA MSP SURVEY
Facing the challenges With a rapidly evolving market, managed service providers are facing a range of challenges, but there are also plenty of opportunities out there to be taken too, which was one of the take-home messages from Barracuda Networks Inc’s recent survey, as Jason Howells, VP, international MSP sales at Barracuda Networks Inc, explains.
2 The skills challenge Many companies are turning to managed security services because they are struggling to recruit security talent in-house. The UK’s cybersecurity skills shortage has risen by 29% since 2022, which represents a shortfall of around 75,000 cybersecurity professionals – and there is no quick fix to it. However, MSPs themselves are not immune to these skills challenges, with 39% of UK MSPs reporting difficulties in attracting and retaining talent within their organisations. This may be a factor in why 91% of UK MSPs say they are outsourcing more security functions than they did the previous year. 3 Pressures and opportunities around AI Artificial intelligence (AI) is everywhere and cybersecurity teams – and cyber criminals – are using it to their advantage. Attackers are using generative AI tools to scale their attacks and increase the chances of success. Meanwhile, cybersecurity vendors are harnessing AI to help security teams to bolster their defences against all threats, from detection, prevention and response through to remediation. We found that 79% of the UK MSPs surveyed believe they need to improve their understanding and application of AI products
Every year, Barracuda surveys managed service providers (MSPs) from around the world to understand the challenges they face and their hopes for the future. The results of the latest survey reveal a landscape of change for MSPs and their customers. From this, Barracuda has identified five broad areas of challenge and opportunity that UK-based MSPs are faced with, and these are below. 1 Meeting evolving customer needs Recurring managed services and security offerings will fuel growth for UK MSPs in 2024. Our survey found that UK respondents expect 45% of their revenue to come from recurring managed services this year, up from 35% in 2023. This reflects the evolving needs of customers: 88% of respondents believe that businesses are scaling back their in-house IT and relying more on MSPs for support instead. There is high demand for security related products and services, and this is an area where MSPs can provide specialist support, services and expertise. For UK MSPs, the most widely offered services include security awareness training – offered by 53% of respondents – and security operations centres (40%).
Jason Howells VP, International MSP sales
barracuda.com
Artificial intelligence (AI) is everywhere and cybersecurity teams – and cyber criminals – are using it to their advantage. “ ”
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