Channel Futures and Channel Partners, Informa’s channel media and events organization, today reveals the 2024 MSP 501 list that represents the most influential and highest performing providers of managed services in the global technology industry. The MSP 501 is the only industry list that uses financial data from applicants to rank their performance against their peers.

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Now in its 17th year, the MSP 501 is the most definitive worldwide listing of best in class managed service providers. These MSPs play a critical role in the $5 trillion dollar technology industry and sit at the center of the services market, which is outgrowing the hardware and software industries according to data from Informa-owned analyst firm Canalys.

These MSPs, which are growing faster than their peer set and industry benchmarks, are highly trusted by their customers to deliver mission-critical services that protect their organizations. The list helps small, medium and large MSPs understand their year-on-year performance.

View the complete list here.

Bob DeMarzo, VP, Content, for Informa’s channel media and events, said, “We’re pleased to recognize the best IT service providers that are helping customers increase the value of their businesses through technology. The MSP 501 Class of 2024 represents the industry's most innovative and influential market leaders providing managed services to the most demanding customers around the world. We congratulate these companies on their leadership and forward-thinking strategies. And we look forward to celebrating them at our gala awards ceremony during MSP Summit this Fall.”

The Channel Futures MSP 501 list shows healthy overall revenue, recurring revenue and profit growth in 2024. At the same time, they are detecting signs of slowness that provide both challenges and opportunities over the coming year. A snapshot of the 2024 MSP 501:

  • Aggregate revenue: $24.9 billion
  • Average revenue per MSP 501: $49.6 million; median: $6.8 million
  • Average total recurring revenue from managed services: $23 million; median: $4.5 million
  • Recurring revenue grew 19% on average
  • Total employment: 90,377; median of 33 employees per company
  • Three hundred sixty-six on this year’s list are repeat winners from 2023; 135 newcomers made the 2024 list

MSP 501 research highlights include:

  • Security was the most commonly sold managed service, as 99% of the MSP 501 reported revenue from that service, reflecting the importance of cybersecurity.
  • Other popular services for the MSP 501 were help desk/service desk (93%), managed email/anti-spam (91%), cloud storage (89%) and remote monitoring and management (88%). Three-quarters of the MSP 501 listed help desk/service desk among their top three revenue-producing services. Managed security (69%) and remote monitoring (56%) were the other services listed by most of the MSP 501.
  • AI ranked fifth in MSP 501 forecasted growth areas for 2024. Nearly one-quarter (23%) mentioned AI as a growth area, ranking behind managed security (76%) and help desk/security desk (53%) – the leading revenue-producing 2023 services – as well as remote monitoring and management (RMM) at 38% and managed compliance services (28%).

The Channel Futures MSP 501 methodology is based on a wide range of criteria including revenue, subscription-based services and business investment, to name a few. The methodology is reviewed, amended and updated by a blue-chip group of thought leaders who study MSP business models. Over time, the MSP 501 methodology has evolved to match the characteristics of the market as business models change. The MSP 501 is the only methodology of its kind providing a sound benchmark for managed service providers to gauge business performance.

Channel Futures will celebrate the 2024 top MSPs at an invitation-only awards gala on Sept. 18 in Atlanta during the MSP Summit. In addition to honoring the MSP 501 winners, the gala will recognize organizations and individuals for outstanding performance in managed services. Special awards include Lifetime Achievement, Executive of the Year, MSPs of the Year and the year’s best MSPs in AI, Cloud and Security. Register to attend MSP Summit, which takes place Sept. 16-19 at Georgia World Congress in Atlanta, here. The MSP Summit will feature the session “The Channel Futures MSP 501 & NextGen Power Panel: What Drives the Best of the Best” on Sept. 17. For MSP Summit sponsorship opportunities, click here.

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About Channel Futures

Channel Futures is a media and events destination for the information technology and communications industry. We provide information, perspective, and connection for the entire channel ecosystem, including solution providers (SPs), managed service providers (MSPs), managed security service providers (MSSPs), cloud service providers (CSPs), value-added resellers (VARs) and distributors, technology solutions brokerages, subagent and agents, as well as leading technology vendor partners and communication providers.

Channel Futures is where the world meets the channel; we are leading Channel Partners forward. Our properties include awards programs such as the Channel Futures MSP 501, a list of the most influential and fastest-growing providers of managed services in the technology industry; Channel Partners events, which delivers unparalleled in-person events including Channel Partners Conference & Expo and MSP Summit. More information is available at channelfutures.com.

Channel Futures is part of Informa Tech, a leading provider of market insight and market access to the global business technology community. Through in-depth expertise and an engaged audience community, Informa Tech helps business professionals make better technology decisions and marketers reach the most powerful tech buyers and influencers in the world. Across its portfolio of over 100+ trusted brands, Informa Tech has over 1000 industry experts, including over 400 research analysts and consultants in global research group Omdia, and a monthly audience reach of over 125 million. Informa Tech is a division of FTSE 100 company Informa plc.

About Informa Tech

Informa Tech is a leading provider of market insight and market access to the global business technology community. Through in-depth expertise and an engaged audience community, Informa Tech helps business professionals make better technology decisions and marketers reach the most powerful tech buyers and influencers in the world. Across its portfolio of over 100+ trusted brands, Informa Tech has over 1000 industry experts, including over 400 research analysts and consultants in global research group Omdia, and a monthly audience reach of over 125 million. Informa Tech is a division of FTSE 100 company Informa plc.

Brittany Watts Channel Futures and Channel Partners brittany.watts@informa.com