what is an msp

A Managed Service Provider (MSP) is a third-party company that remotely manages a customers information technology (IT) infrastructure and end-user systems. MSPs deliver services such as network, application, infrastructure, and security via ongoing and regular support and active administration on customers’ premises, in their MSP’s data center (hosting), or in a third-party data center. MSPs are used as external IT departments for companies who lack internal support. They offer support to businesses in all verticals, from healthcare to retail to B2B, and provide services offerings of all shapes and sizes. MSPs function as strategic partners to improve the operational efficiency of businesses of all types and sizes. The managed services provider industry was valued at $161.37 billion in 2021 and is expected to grow to $311.31 billion by 2027.