Change is afoot in the RMM/PSA market, with Kaseya for the first time surpassing ConnectWise for the No. 1 spot in market share, according to Q3 analysis from market research firm Canalys, as reported this week in a LinkedIn post. In addition, NinjaOne climbed into the No. 3 spot, moving ahead of N-able, and HaloPSA claimed the No. 5 spot, growing revenue 102%.
“We’re very fortunate to be at the right place at the right time,” said Kaseya CEO Fred Voccola, in response to the Kaseya RMM/PSA market data from Canalys. “Small and midsized businesses are increasingly reliant on technology and MSPs are the essential partners delivering the IT and security solutions those businesses need to succeed.”
NinjaOne’s Tom Stilwell, VP, corporate marketing and communications, responded in a statement, “We’re excited Canalys is recognizing NinjaOne’s differentiation and hypergrowth. We heavily invest in platform innovation, invest 2-4 times what typical B2B SaaS companies invest in support, have a sub-30-minute average support response time, and offer free and unlimited onboarding, training, and support. As we continue to grow, we will stay focused on delivering the best products and the best support to help our customers succeed.”
Addressing MSP Pain Points
The industry this year witnessed a variety of strategic moves by these major players, as longtime pain points for MSPs came under the microscope—tool sprawl, competitive pressures, cost of goods sold (COGS), security concerns, and more.
Kaseya, ConnectWise, and N-able made strategic security acquisitions to their portfolios. They and other vendors this year pointed to a future where they expect MSPs to seek more of a platform approach vs. acquiring point solutions from various vendors.
Kaseya threw down the gauntlet to reduce COGS and increase both efficiency and profitability for MSPs with two aggressively priced bundles of deeply integrated solutions this year, Kaseya 365 Endpoint and Kaseya 365 User. NinjaOne and Halo followed suit with a bundle, and ConnectWise promises to do so the first of the year.
“Kaseya 365 has redefined what it means to be an MSP by fundamentally transforming the entire industry to one where the focus is on a platform that delivers profitability and automation versus a stack of point solutions,” Voccola said. “RMM is no longer an isolated product—it’s part of a unified, automated solution that drives greater efficiency and results for do-it-all IT professionals. The value it creates by being part of a purpose-built, fully automated and integrated solution is the future. It’s very similar to how Excel is a feature of Microsoft Office.”
A Look at the RMM/PSA Numbers
According to Canalys, Kaseya RMM/PSA market share increased year-over-year from 21% in Q3 2023 to 25.9% in Q4 2024 and grew PSA/RMM revenue 55.1%. ConnectWise grew RMM/PSA revenue 3.2% and experienced a YoY decrease in market share, dropping from 30.9% in Q3 2023 to 25.4% in Q2 2024.
NinjaOne grew RMM/PSA revenue 54.1%, increasing its share of the market from 8% in Q3 2023 to 9.8% this year. N-able grew 3.7%, with its share of the market dropping from 10.8% to 8.9%.
Overall, the worldwide PSA and RMM market grew 25.6%, according to Canalys.
Asked for reaction to the Canalys data, Jeff Bishop, EVP & GM, Unified Monitoring & Management, sent MSP Success this statement: “ConnectWise continues to see strong organic growth across our RMM and PSA product lines. As MSPs focus on driving productivity enhancements across their entire business, sales have been bolstered by increased engagement and adoption of the ConnectWise Asio Platform. Asio enables MSPs to break down application and data silos to automate critical tasks, saving time and resources. We will continue to engage with the MSP community as we deliver new innovations that help MSPs better service their customers while streamlining operations.”
And Riley Sexton, N-able GM, RMM, responded with this statement: “The ultimate measure of success lies in the value you bring to your partners and the respect you earn from your peers. It’s motivating to see our ecosystem and combined revenue growth celebrated in the headlines. N-able is happy to continue serving as the trusted business barometer of our space.”
What’s Ahead in 2025?
Voccola has often said that Kaseya 365 Endpoint and Kaseya 365 User are the first two phases of a four-part strategy to improve the unit economics for MSPs.
“As important as MSPs are, unfortunately, they often don’t receive the recognition, respect, nor the financial rewards their mission-critical work merits,” Voccola said. “Many MSPs are currently operating at just a 10% profit, which simply is not fair considering the essential services they provide—not just to their customers, but to the broader economy. With the successful launch of Kaseya 365, we have committed ourselves to changing that by focusing on bringing MSPs the respect and financial rewards they deserve.“
He continued, “By leveraging our platform, we’ve not only reduced operating costs for MSPs, but we are delivering unprecedented levels of AI-powered automation to increase their efficiency, work capacity and capabilities. Our goal is to help MSPs, and their teams, deliver more value to their clients, while increasing their own profitability and standing in the industry.”
What’s next for Kaseya? “As we enter the new year, we’re doubling down on improving the partner experience to ensure that MSPs powered by Kaseya are the most successful in the industry,” Voccola said. “We continue to deliver new innovations and are laser-focused on providing a world-class experience for all of our partners.”
