April 23, 2020
Industries Showing Highest Demand for MSPs During Global Health Crisis
Managed service providers (MSPs) and businesses across the world are constantly adapting to today’s world. The global health crisis has flipped our daily routines, forcing any businesses not deemed essential to work remotely to prevent unnecessary spread of infection.
Of course, these changes have impacted some industries harder than others.
After some research and discussions with Datto partners, we found that MSPs are adjusting their growth expectations for 2020 as a result of the global health crisis, but they largely expect to weather the storm and even find new opportunities.
To get a better understanding of the pulse of the MSP community, we surveyed our Datto sales reps to understand the verticals their MSP partners are seeing most demand from today.
According to the reps surveyed, the industries below are seeing the most demand for MSP services. We’ve also included some additional context on why these verticals have been the least negatively impacted by the pandemic:
- Health and Medical: Many non-emergency practices are recommending patients do not make unnecessary visits to offices in an effort to avoid spreading infection or putting vulnerable parts of the population at risk, but overall demand for healthcare remains strong. This has caused an increase in virtual appointments which some practices may not be accustomed to. Therefore, some offices likely are beefing up their virtual capabilities as they shift.
- Government: Although many local government offices may not be operating as usual or allowing residents to physically come in or make appointments, many towns are still operating on a reduced basis with social distancing, remote work, and more. Some cities are holding meetings through virtual conferencing to adhere to social distancing requirements but still handling their day-to-day essentials.
- Financial Services and Insurance: The financial services and insurance industry are adapting to minimize effects on their day-to-day operations by strengthening current business continuity solutions or implementing them if not already in place. As mortgage rates dropped to a 30-year low and market volatility increases, demand for re-financing and financial advice is strong, and technology plays a key role delivering both remotely.
- Legal: Although our lives have hit pause in many ways, the need for legal services has not. Whether it’s transactions or legal disputes, lawyers have had to adjust to continue to work with their clients. Traditionally, legal services have pushed back on a shift to remote work, but some argue the current remote shift to adhere to social distancing will help the industry in the long term as they have recognized it’s a viable and sustainable option.
- Energy and Utilities: Social distancing and shelter-in-place orders have provided a unique challenge for energy and utility companies. While electricity use has decreased in many areas (U.S. electricity use on March 27, 2020 was three percent lower than on March 27, 2019), the pressure on utilities to avoid any power interruptions is arguably greater than ever with the majority of people working remotely from their homes. To address this, many providers are working with artificial intelligence to better predict the fluctuations in energy use and avoid any blackouts for customers.
- Education: Schools are shut down, and students of all ages are continuing as normal as possible throughout the health crisis. Schools across the world have adopted teleconferencing and SaaS applications to bridge the gap. This adoption has driven the need for guidance from MSPs and internal IT teams to ensure the transition to SaaS applications remains smooth and free from any evolving cybersecurity threats.
Each of the industries mentioned above are among the most essential industries. Additionally, these industries deal with some of the most sensitive and personal information when it comes to clients and patients. Businesses must be more vigilant than ever and ensure they are protecting data on all remote devices.The opportunity for MSPs to act as trusted advisors and help these companies avoid any interruptions through a proper business continuity solution is imperative.