30 Dec 2020 Brought Major Growth… Are You Ready For 2021?
This is not a doom and gloom message about the trainwreck of a year that 2020 has been. Instead, we have a message of appreciation and congratulations for IT Service providers enabling the world to keep moving while sheltered in place, discovered new ways of learning, and mastered the art of sweatpants and video conferences. What you and your teams have accomplished is nothing short of remarkable.
In 2020 we not only saw increased demand for IT services across virtually every sector but we also saw increased interest and participation from investors and market leaders as they realigned their investment and strategic growth programs. The result was major wins for the IT Services industry, with increased valuations and accelerated growth permeating throughout the value chain.
Today we want to recap a few ways Revenue Rocket cataloged these events and how we helped many of the participants achieve their goals through successful business combinations and strategic organic expansions fueled by our SVP program.
Connectivity was king in 2020 and we saw some significant increases in the adoption of infrastructure connectivity solutions such as public cloud and extensive use of virtual private networks (VPN) which lead the way for secure “working-from-home” enablement. 2020 has accelerated the adoption of public cloud and work from home solutions and accelerated digital transformation.
Security came second but not far behind connectivity. Not unlike other compelling events, the likes of digital pirates and fraudsters ramped up as America shifted to remote working and virtual classrooms. The cybersecurity industry has seen significant gains and continues to evolve as society looks to achieve more and more seamless infrastructures as part of what is looking to be a trend that is here to stay. We have all read how many large corporations are forgoing the fancy offices, terminating leases as part of an effort to retain staff, and minimize expenses.
Managed Services also saw a bump in demand as the increases in remote working and education saw demand for both hardware and connectivity support soar as the IT guy down the hall was now supporting hundreds of networks and devices vs the predictable and static environment many large corporations had/have in place.
Value-Added Solution Providers (VASP) have been busy filling the software solution gaps including providing intuitive applications that improve access to information, expanded remote functionality, and enabled features such as contactless delivery, approvals, and submissions across the corporate spectrum.
In some industries such as healthcare, legal, and banking we witnessed marginal growth in what was a dwindling category of Voice Over Internet Protocol (VoIP); as physicians, lawyers and investors turned to secure and corporately managed voice solutions vs mobile enablement as some of the compliance and security functionality was lacking in niche use cases.
Data Storage and Recovery was one of the largest challenges we faced in 2020, but thanks to the technology advancements made over the past several years and the enablement of cloud computing we were able to satisfy the requirements of all industries and do so while increasing complexity substantially with the abundance of remote workers and virtual/remote devices that were no longer within a corporate infrastructure.
As you can see, you and your teams were busy keeping America and the world working together and were a huge part in continuing education for millions of students as we all shifted to remote content, engagement, and participation.
In 2021 we are forecasting more of the same, in fact, we are seeing increased demand in all markets and categories as we brace for enabling the new normal, permanently! This means that you and your teams will face different challenges as you look to finance growth, build new solutions, or look to acquire the needed talent to enable your offerings. Regardless of whether you are considering an M&A strategy or an organic expansion, Revenue Rocket can help (and we can help remotely). Chances are we are representing someone in your target expansion category. For more information contact us at info@revenuerocket.com