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Eighth annual list reveals healthcare is a top market for managed service providers with vertical specialties

June 28, 2023 | Redding, California | Apex Technology Management ranks among the world’s Top 100 Vertical Market MSPs (http://www.channelE2E.com/top100) for 2023, according to ChannelE2E, a CyberRisk Alliance resource.

The annual list and research report identifies and honors 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.

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 two slot this year, growing from 13% in 2021 to 23% in 2022.

Rankings are based on annual recurring revenues in specific markets for the calendar year of 2022.

Apex Technology Management was ranked among the top vertical market MSPs in Government and Education.

“It’s amazing to be recognized as a Top 5 Government & Education MSP and a Top 100 Vertical Market MSP,” said President, Matt Fristoe. “These are both testaments of the incredible focus our team has on transforming organizations and lives for the better. It continues to be humbling to serve the critically important members of our society that serve, protect and employ our communities.”

“ChannelE2E and CyberRisk Alliance congratulate Apex Technology Management on this honor,” 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.

Apex Technology Management is a leading IT and Cybersecurity solutions provider in California. Apex has continued to show innovative approaches to providing managed services by transforming the IT channel with innovative solutions, while also assisting to improve operational efficiencies and maximizing their return on investment. Apex is passionate about providing the best-in-class service to their clients, they are committed to continuously investing in the architecture, design, and security of our technology solutions.

About Apex

Since 1991, Apex has been providing enterprise-class Managed IT & Cybersecurity services to small and midsize businesses across a variety of industries. Passionate about providing best-in-class service to our clients, we are committed to continuously investing in the architecture, design, and security of our technology solutions. www.apex.com

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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.

 

Kaitlin Giordano

Kaitlin Giordano is the Marketing Coordinator at Apex Technology Management, a California-based IT Support Company. She holds a bachelor's degree in business administration and marketing from Boise State University. She has a passion for content writing and driving brand awareness.