Seventh-Annual List Reveals Leading MSPs
In Healthcare, Legal, Government, Financial Services & More
April 25, 2022 | Redding, CA: Apex Technology Management ranks among the world’s Top 100 Vertical Market MSPs (http://www.channelE2E.com/top100) for 2022, according to ChannelE2E, a CyberRisk Alliance resource.
The annual list and research (hashtag: #MSP100) identify and honor the top 100 managed services providers (MSPs) in healthcare, legal, government, financial services, manufacturing, and additional vertical markets. Moreover, the research affirms that vertical market MSPs have vastly expanded their managed security capabilities.
This year’s research revealed several key MSP business, security, and market trends. Key takeaways include:
- Surging MSP Revenues: Honorees generated a combined $3.05 billion in vertical market annual recurring revenue (ARR) in 2021, up 42% from $2.14 billion million in 2020. The surge involved extremely strong MSP merger and acquisition (M&A) activity; accelerated demand for cloud & cybersecurity services; and successful MSP pivots amid the continued COVID-19 pandemic.
- Key Verticals: The most successful vertical market MSPs are zeroing in on healthcare and manufacturing, with continued strong interest in financial services, legal and government opportunities.
- Managed Security Services: All of the honorees offer some form of managed security services – particularly backup and disaster recovery (96%), endpoint detection & response (EDR, 88%) and managed detection and response (MDR), 82%). Moreover, the MSPs increasingly focus on emerging areas such as Cloud Security Posture Management (CSPM, 49%) and eXtended Detection and Response (XDR, 38%).
- End-Customer Reach: The Top 100 Vertical Market MSPs now manage more than 6.1 million users across their customer sites as of 2021, up from 3.1 million in 2020.
- Top 10 Strategic Technology Partners: MSPs consider their top vertical market technology partners to be Microsoft (46%), ConnectWise (18%), Datto (18%), Cisco Systems (15%), Dell Technologies (14%), Ingram Micro (13%), Amazon Web Services (10%), SentinelOne (10%), Fortinet (9%) & Tech Data (7%).
Apex Technology Management was ranked among the top vertical market MSPs in Government.
“We are honored to be recognized as a market leader in the Top 100 Vertical Market MSP and in the Government vertical. We owe this honor to our tremendous partners, consisting of Apex employees and Apex clients for their intentional diligence and steadfast focus on transforming organizations and lives for the better.” Said Matt Fristoe, COO, Apex Technology Management. “With security on the forefront of everyone’s mind in these days, it is 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 Amy Katz, executive VP and general manager of ChannelE2E, a CyberRisk Alliance resource. “Businesses worldwide increasingly outsource their most critical security, business automation and IT management requirements to the world’s Top 100 Vertical Market MSPs.”
The ChannelE2E Top 100 Vertical Market MSPs list and research are overseen by Joe Panettieri (@JoePanettieri), executive VP and editorial director of ChannelE2E. Find the online list and associated report here: http://www.channelE2E.com/top100
Apex Technology Management is a security first Managed Service Provider that is deeply committed to providing the best IT and Cybersecurity solutions in the industry to Municipal Governments. We are honored to be recognized as one of the top 5 vertical market MSPs in Government. We serve a diverse group and community that is constantly seeking to improve and mature their environments and ecosystems. We take our responsibilities to be the best partner possible to assist these organizations with their mission critical services and this honor is a testament that we are making a purposeful impact.
About Apex Technology Management
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.
ChannelE2E (www.ChannelE2E.com), a CyberRisk Alliance resource, is the leading digital destination for MSPs, IT service providers, channel partners and strategic investors seeking to maximize their business valuations, mitigate business risk and maximize security — from Entrepreneur to Exit.
About Cyber Risk 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, InfoSec World, Cybersecurity Collaboration Forum, our research unit CRA Business Intelligence, the peer-to-peer CISO membership network, Cybersecurity Collaborative, and now Identiverse, ChannelE2E and MSSP Alert.