Eighth annual list reveals healthcare is a top market for managed service providers with vertical specialties
New York, NY, June 28, 2023 – Cybersecurity business intelligence company CyberRisk Alliance and ChannelE2E, the leading resource for MSPs, IT service providers, channel partners and strategic investors, have unveiled the annual list of the top vertical market managed services providers (MSPs) for 2023. The Top 100 Vertical Market MSPs honorees were announced in a live webcast on June 28.
The annual list and research report identify and honor the top 100 MSPs in healthcare, legal, government, financial services, manufacturing and additional vertical markets. Additionally, this year’s report revealed key MSP business, security and market trends and affirms that vertical market MSPs have vastly expanded their managed security capabilities.
Rankings are based on annual recurring revenues in specific markets for the calendar year of 2022.
Among the report findings:
- In total, the top vertical market MSPs generated revenues of $2.87 billion in 2022 compared to $2.25 billion in 2021, representing a 27.5% increase year over year.
- In 2022, MSPs consolidated more heavily into two vertical markets in particular – Healthcare and Financial Services/Banking. Healthcare, which was also the biggest market last year, remains the largest, and also the biggest mover, increasing from 18% in 2021 to 31% in 2022.
- Financial Services knocked Manufacturing out of the number 2 slot this year, growing from 13% in 2021 to 23% in 2022.
“Congratulations to this year’s honorees,” said Jessica C. Davis, editorial director of ChannelE2E, a CyberRisk Alliance resource. “Vertical market MSPs tend to grow faster and enjoy better margins than the rest of the pack. They are able to specialize, standardizing their technology stacks for their specific vertical markets and training their staff to best serve those verticals, leading to more efficient operations.”
ChannelE2E's Top 100 Vertical Market MSPs list and research report are overseen by Jessica C. Davis, Editorial Director, MSSP Alert and ChannelE2E.
Click here to download the list and associated report.
About CyberRisk Alliance
CyberRisk Alliance (CRA) is a business intelligence company serving the high growth, rapidly evolving cybersecurity community with a diversified portfolio of services that inform, educate, build community, and inspire an efficient marketplace. Our trusted information leverages a unique network of journalists, analysts and influencers, policymakers, and practitioners. CRA’s brands include SC Media, Security Weekly, ChannelE2E, MSSP Alert, InfoSec World, Identiverse, Cybersecurity Collaboration Forum, its research unit CRA Business Intelligence, the peer-to-peer CISO membership network, Cybersecurity Collaborative, the Official Cyber Security Summit, TECHEXPO Top Secret, and now LaunchTech Communications. Click here to learn more.