The MSP market has seen unprecedented growth in the last year, with global spending under management increasing by 16% to a record $225 billion in 2022. This marked a second successive year of stellar growth following 2020, when global spending decreased by 1%.
MSPs are leveraging artificial intelligence to automate manual tasks, enabling more strategic service delivery. Meanwhile, analytics and benchmarking are becoming increasingly sophisticated, with even smaller providers having a defined business intelligence capability. Advanced solutions incorporate machine learning to provide both predictive and prescriptive analytics. Data is no longer a point of differentiation but rather an expectation within MSP programs.
In response to buyer interest in direct sourcing, MSPs are advancing their talent curation services, technology solutions and partnerships. This enables clients to access better talent at lower prices without needing to invest in technology or internal teams.
MSP providers are also helping buyers improve the diversity of their supplier base and their contingent workforce. By partnering with industry experts, they’re working towards an alignment of contingent workforce diversity programs with wider organizational goals.
With greater efficiencies and an ever-broadening service portfolio, MSPs are playing an increasingly important role in the market. Download the report to find out more about the latest