Vertical focus drives more than $3 billion in sales for managed service providers

Vertical market focus resulted in $3.05 billion in annual recurring revenue (ARR) for the top 100 managed service providers serving specific industries, up roughly 42% from last year’s research.

The list, developed by SC Media sister brand ChannelE2E, reflects larger-than-usual boost likely caused by the U.S. economy, which experienced accelerated IT spending in 2021 versus 2020 as businesses adjusted to the “new extended normal” of COVID-19.

The largest slice of vertical revenue came from healthcare (18%), manufacturing (14%) and financial services/banking (13%), with manufacturing seeing a 5 point increase compared with a year ago as customers sought support in efforts to navigate supply chain and cybersecurity business pressures.

Forty-nine of this year’s Top 100 companies also appeared on last year’s list. That’s lower than last year’s repeat count of 59. The dip in repeat honorees reflects a larger base of MSPs participating in the survey, coupled with previous honorees that have been acquired. And merger and acquisition deals – often backed by private equity firms – continued to unite several vertical market MSPs.

Below is a quick rundown of the Top 10. Click here to access the complete list, and check back next week for more coverage insights from MSP leaders about the influence of today's threat landscape on the needs of individual industries.

ECS

Headquarters: Fairfax, Va.

Vertical: Government (federal, state and local)

Focus: A segment of ASGN Incorporated, ECS solves critical, complex security challenges for customers across the public and private sectors. ECS focuses on cloud, cybersecurity, artificial intelligence, machine learning, and enterprise transformation.

DoIT International

Headquarters: Santa Clara, Calif.

Vertical: Technology

Focus: Optimized multi-cloud cost optimization and production-grade Kubernets support.

Hanu

Headquarters: Princeton, N.J.

Vertical: Healthcare

Focus: Plan, implement and fully manage every aspects of an organization’s migration to Azure, delivering ongoing administration, management and user support.

C Spire Business

 Headquarters: Ridgeland, Miss.

 Vertical: Healthcare

 Focus: Has more than 200 on staff engineers, each one with an average of 20 years of IT experience and three to five certifications.

AllCloud

Headquarters: Denver, Colo.

Vertical: Technology

Focus: Accelerates cloud innovation and helps organizations fully unlock the value received from cloud technology and data and analytics.

eCloudvalley Digital Technology Co.

Headquarters: Sanchong Dist., New Taipei City, Taiwan

Vertical: Technology

Focus:  Cloud-based partner focused entirely on AWS services. Has grown to more than 500 employees with geographic footprints across APAC region, in Singapore, Hong Kong, Malaysia, Philippines, Thailand, Indonesia, Vietnam, Taiwan, China and the United States.

Net at Work

Headquarters: New York, N.Y.

Vertical: Manufacturing

Focus: Offers the vision, leadership and support of a Virtual CIO. This allows customers to focus on the company’s core competencies knowing they can fully rely on Net at Work to implement technology that unleashes efficient technology.  

Frontline Managed Services

Headquarters: St. Louis, Mo.

Vertical: Legal

Focus: Employs more than 700 professionals in six countries and three continents, which enables them to deliver highly secure solutions to legal clients.

ECI

Headquarters: Boston, Mass.

Vertical: Financial Services/Banking

Focus:  Delivers managed services, cybersecurity and business transformation for mid-market financial services organizations globally.

Ntirety

 Headquarters: Austin, Texas

Vertical: Healthcare

Focus: Operates, secures and manages public and private hybrid cloud environments. Has led customers from the early days of data hosting to managed security.