The future is very bright for managed service providers (MSPs), according to Canalys.

Canalys analyst Jay McBain (pictured on stage above) presented his top trends and opportunities – and warnings – to MSPs at the recent NerdioCon 2023.

He noted that last year, businesses and governments globally spent $4.5 trillion on technology. Of that figure, services comprised two-thirds. The managed services market alone was worth $387 billion in 2022 — a figure greater than McBain was anticipating.

“A couple of years ago, I would have said this is a $200 billion market. It’s a solid, double-digit growing business. We’re in the right industry,” he told MSPs. “Software is eating the world; every other company in 27 industries is becoming a tech company. This is the right place to be this decade.”

Even the recent spate of tech layoffs could prove positive for the channel, he said.

“There are a quarter-million skilled people that are finding new opportunities either as entrepreneurs or joining the channel. So this recruiting problem that we’ve had for years trying to get top talent … is starting to realign,” he said.

The analyst presented some even more interesting findings to the MSPs in attendance. For example, there is no longer a single “throat to choke” when it comes to choosing a channel partner. Elsewhere, the rise of B2B marketplaces is unstoppable — and MSPs should jump on board. However, distribution is facing a wave of disruption from new market entrants, alongside those marketplaces.

See the slideshow above to discover everything you need to know as an MSP.