NERDIOCON — There is a $420 billion untapped opportunity for MSPs in the small and medium business (SMB) space, according to Microsoft.

Sharon Schoenborn, corporate VP, North America, Small, Medium and Corporate (SMC) at Microsoft addressed MSPs at NerdioCon 2023. Channel Futures is there this week.

“We see the opportunity in the SMB space has been significant,” she said to the crowd in Cancun, Mexico. “It is one of the fastest growing cloud businesses from Microsoft globally. The TAM [total addressable market] as we see right now is $420 billion.

Moreover, 66% of customers plan to increase their IT budgets over the next year. Schoenborn (pictured on stage above) calls that an encouraging sign.

“There’s been a ton of change for small and medium businesses over the last few years,” she said. “And it is great we’re entering into a new growth phase with small and medium businesses. Small medium businesses are the lifeblood of our economy. They’re the lifeblood of our communities.”

Schoenborn highlighted what’s driving the market, where SMBs are spending their IT budgets, and what SMBs are looking for in an MSP. See the slideshow above to find out more.