3Cloud’s rapid growth and continued innovation in managed services was recognized by two prestigious organizations, Channel E2E and Channel Futures, naming 3Cloud as top managed services provider globally. 3Cloud’s Managed Services practice experienced over 100% year-over-year growth from 2020 to 2021.
“3Cloud is honored to be recognized for the growth our Managed Services team has made in the breadth of services offered along with our vertical offerings,” said Mark Nelson, Vice President Managed Services. “3Cloud recognizes that to provide the Ultimate Azure Experience, our customers require innovative and secure Managed Services allowing them to focus on their critical business priorities while we handle their infrastructure, application, and data analytics support. We are proud to have our Managed Services team recognized for their passion and expertise provided to our customers.”
The annual Top 100 Vertical Market MSPs list and research, according to ChannelE2E (hashtag: #MSP100) identify and honor the top 100 managed services providers (MSPs) in healthcare, legal, government, financial services, manufacturing and additional vertical markets. 3Cloud was ranked among the top vertical market MSPs in the Financial Services vertical.
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%).
“ChannelE2E and CyberRisk Alliance congratulate 3Cloud 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.”
3Cloud was also selected as one of the technology industry’s top-performing providers of managed services by the editors of Channel Futures. For the past 16 years, managed service providers (MSPs) from around the globe have submitted applications to be included in this prestigious and definitive listing. The Channel Futures survey examines organizational performance based on annual sales, recurring revenue, profit margins, revenue mix, growth opportunities, innovation, technology solutions supported, and company and customer demographics.
MSPs that qualify for the list must pass a rigorous review conducted by the research team and editors of Channel Futures. It ranks applicants using a unique methodology that weighs financial performance according to long-term health and viability, commitment to recurring revenue and operational efficiency.
“We extend our heartfelt congratulations to the 2022 winners, and gratitude to the thousands of MSPs that have contributed to the continuing growth and success of the managed services sector,” said Kelly Danziger, general manager of Informa Tech Channels. “These providers are most certainly driving a new wave of innovation in the industry and are demonstrating a commitment to moving the MSP and entire channel forward.”
3Cloud’s vision is to create the Ultimate Azure Experience for our customers, employees and stakeholders. 3Cloud recently hit a milestone by hiring its 600th full-time Azure expert. With a team of industry leaders, 3Cloud accelerates digital transformation across data and analytics, application innovation and cloud platform.
Since its beginning in 2016, 3Cloud has experienced unprecedented growth organically and through acquisitions and continues to outpace the Azure market growth of 46% year-over-year. Backed by Gryphon Investors since 2020, 3Cloud is the largest Azure exclusive Microsoft partner. 3Cloud was recently recognized as a top Microsoft Partner and received six 2022 Microsoft Partner of the Year Awards, including Migration to Azure and Solution Assessments.
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