What are the Historical Developments and Current Growth Metrics of the Managed Services Market?
The managed services market has seen considerable growth due to a variety of factors.
• In recent times, there has been a robust increase in the managed services market size. It's projected that it will expand from $290.89 billion in 2024 to reach $310.95 billion by 2025, experiencing a compound annual growth rate (CAGR) of 6.9%.
Factors such as cost-efficiency, scalability demands, emphasis on fundamental competencies, IT environment complexities, and globalization have contributed to its growth during the historic period.
What Is The Projected Growth Of The Managed Services Market?
The managed services market is expected to maintain its strong growth trajectory in upcoming years.
• In the years to come, the managed services market size is anticipated to experience a swift expansion. The market size is poised to reach $520.79 billion by 2029, growing at a compound annual growth rate (CAGR) of 13.8%.
The predicted growth over this period can be ascribed to several factors such as the escalating complexity of IT environments, a surge in cybersecurity threats, remote workforce management, an uptake in cloud adoption, in addition to a concentration on continuing business operations. The forecast period will observe major trends that include personalized services, focus on data analytics and insights, emphasis on customer experience, management of compliance, and increased demands for scalability.
What Are The Primary Growth Drivers In The Managed Services Market?
The surge in small and midsize businesses (SMB), defined as organizations with fewer than 100 and between 100 to 999 employees respectively, is anticipated to stimulate the expansion of the managed services market. SMBs necessitate managed services to proficiently manage their IT infrastructure, cybersecurity, and network management, letting them concentrate on principal business operations without requiring in-house technical expertise. To exemplify, in 2022, GOV.UK, a UK-based government services and information provider, reported that there were 5.47 million small businesses and 35,900 medium-sized businesses, marking an upsurge from 2021. Consequently, the burgeoning number of small and midsize businesses (SMB) is propelling the growth of the managed services market.
What Are The Principal Market Segments In The Global Managed Services Healthcare Industry?
The managed services market covered in this report is segmented –
1) By Service Type: Managed Security Services, Managed Network Services, Managed Data Center And IT Infrastructure Services, Managed Communication And Collaboration Services, Managed Mobility Services, Managed Information Services, Other Service Types
2) By Deployment model: Cloud, On-Premises
3) By Organizational Sizes: Large Enterprises, Small And Medium-sized Enterprises (SMEs)
4) By Application: BFSI, IT And Telecom, Retail And Consumer Goods, Manufacturing, Government, Healthcare And Life Sciences, Energy And Utilities, Media And Entertainment, Other Applications
Subsegments:
1) By Managed Security Services: Threat Monitoring and Management, Incident Response, Security Compliance Management
2) By Managed Network Services: Network Monitoring and Management, WAN Optimization, Network Design and Implementation
3) By Managed Data Center and IT Infrastructure Services: Data Center Management, Server Management, Backup and Disaster Recovery
4) By Managed Communication and Collaboration Services: Unified Communication Solutions, Video Conferencing Services, Collaboration Tools Management
5) By Managed Mobility Services: Mobile Device Management (MDM), Mobile Application Management (MAM), Endpoint Security for Mobile Devices
6) By Managed Information Services: Data Analytics and Business Intelligence, Information Governance, Document Management Services
7) By Other Service Types: Managed Print Services, Managed Cloud Services, IT Help Desk and Support Services
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Which Emerging Market Trends Are Altering The Managed Services
Prominent corporations operating in the managed services sector are concentrating on launching services that enable businesses to manage their IT environments seamlessly while focusing on their fundamental tasks. Artificial Intelligence (AI) involves creating computer systems or machines capable of executing tasks that would normally need human intellect. For example, Happiest Minds Technologies Ltd, a corporation based in India, introduced WATCH360, an AI-integrated platform, in July 2024. This platform, developed to simplify IT infrastructure handling for organizations, is bolstered by ELLIPSE. Artificial Intelligence and Machine Learning fuel WATCH360, offering timely insights and automation of processes, thereby enhancing overall IT productivity. The service guarantees a consistent management of IT infrastructure by providing perennial support and ensuring dependability. WATCH360 oversees a panoramic array of IT elements, including servers, databases, network and security devices, as well as services native to the cloud.
Who Are the Key Players in the Managed Services Market?
Major companies operating in the managed services market include:
• Huawei Technologies Co Ltd.
• Verizon Communications Inc.
• AT&T Inc.
• Accenture plc
• International Business Machines Corporation (IBM)
• Deloitte AG
• Cisco Systems Inc.
• Fujitsu Global Limited
• Tata Consultancy Services Limited
• Ericsson AB
• Nokia Corporation
• BAE Systems plc
• Capgemini SE
• NTT DATA Corporation
• Cognizant Technology Solutions Corporation
• CenturyLink Inc.
• Infosys Limited
• DXC Technology Company
• Atos SE (Societe Europeenne de Services Informatiques)
• Wipro Limited
• Rackspace Technology Inc.
• GTT Communications Inc.
• HCL Technologies Limited
• Microland Limited
• Secureworks Inc.
• Happiest Minds Technologies Limited
• Alert Logic Inc.
• Intact Technology Inc.
• Business Technology Partners LLP
What are the Regional Insights into the Managed Services Market?
North America was the largest region in the managed services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the managed services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
