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The global Managed Services market size is projected to reach USD 248750 Million by 2026, from USD 133440 Million in 2019, at a CAGR of 9.2% during 2021-2026. The scarcity of IT skilled individuals, as well as cost reduction and lower IT budgets, are driving the expansion of the managed services market. Furthermore, trends such as increased cloud use and automation in IT settings, as well as a steady increase in the demand for managed services among Small and Medium-sized Enterprises (SMEs), are likely to provide significant opportunities for managed services vendors.
Managed services assist businesses in regularly managing their IT system requirements in order to improve users' IT operations. Managed Service Providers (MSPs) handle IT infrastructure and tasks relating to network, security, data center and IT infrastructure, communication and collaboration, business operations, and mobility, while enterprises focus on their core business capabilities.
Using managed services is meant to be a cost-effective way of staying current with technology, gaining access to knowledge, and resolving cost, service quality, and risk challenges. Many SMBs and major organizations have moved their technology to the cloud, and managed service providers (MSPs) are increasingly experiencing cloud computing problems.
Enterprises and government agencies around the world are migrating from test environments to cloud and compute instances for more of their mission-critical workloads. Furthermore, the demand for data centers is increasing as a result of the increased usage of IoT, cloud, and Big Data analytics as a fundamental part of numerous enterprises' digital transformation strategies. This is assisting in the expansion of the managed service sector.
Cloud adoption is projected to increase as demand grows. Furthermore, security concerns, combined with the use of IT functions to seize control of organizational networks and IT infrastructure, are projected to boost Managed Services Market growth.
Network monitoring, cloud, data center management, security, and mobility services provided by managed service providers assist firms to reduce their original infrastructure investment. This aspect is predicted to increase managed service market size.
Managed services enable businesses to boost process productivity, lower operating expenses, and focus on their core capabilities. They aid in the automation of capital distribution and allocation in order to boost overall productivity and efficiency. Managed services are used by banks and other financial organizations to address a variety of difficulties, including market and regulatory change, technological change, and talent shortages. The managed service industry is predicted to grow as a result of this extensive acceptance among businesses from various industries.
MSPs (Managed Service Providers) assist firms in identifying their business plans by taking into account aspects such as available resources, consumer preferences, and industry requirements. This, in turn, is likely to provide MSPs with growth prospects during the projection period.
During the projected period, the managed data center and managed IT network services segments are likely to have a significant market share.
Due to the growing popularity of the recurring revenue model in the country, North America is expected to have the greatest market share throughout the projection period. The United States and Canada are predicted to provide the most income to the North American managed services market. Improved dependability and performance, stronger security enforcement, and increased flexibility are all advantages of using managed services.
The Asia Pacific is also expected to increase significantly during the forecast period. Growing investment in SMEs by emerging nations such as China and India is likely to drive demand for managed services market.
The report offers an exhaustive geographical analysis of the global Managed Services market, covering important regions, viz, North America, Europe, China, Japan, Southeast Asia, India and Central & South America. It also covers key countries (regions), viz, U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, U.A.E, etc.
In the competitive analysis section of the report, leading as well as prominent players of the global Managed Services market are broadly studied on the basis of key factors. The report offers a comprehensive analysis and accurate statistics on revenue by the player for the period 2015-2020. It also offers detailed analysis supported by reliable statistics on price and revenue (global level) by player for the period 2015-2020.
On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Managed Services market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Managed Services market.
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Report Metric |
Details |
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Report Name |
managed services market |
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The market size in 2019 |
$133,440.00 Million |
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The revenue forecast in 2026 |
$248,750.00 Million |
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Growth Rate |
CAGR of 9.2% from 2020 to 2026 |
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Base year considered |
2020 |
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Forecast period |
2021-2026 |
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Forecast units |
Value (USD) |
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Segments covered |
Type, End-User, Offerings, and Region |
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Market by Type |
Managed Security Services, Managed Network Services, Managed Mobility Services, Managed Information Services, Managed Data Center Services, Managed Communication and Collaboration Services, Managed IT Infrastructure Services. |
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Market by Applications/Enduser |
Telecom and IT, BFSI, Retai,l Media and Entertainment, Education, Healthcare, Others |
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Report coverage |
Revenue & volume forecast, company share, competitive landscape, growth factors, and trends |
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Geographic regions covered |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
Ans. Managed services assist businesses in regularly managing their IT system requirements in order to improve users' IT operations. Managed Service Providers (MSPs) handle IT infrastructure and tasks relating to network, security, data center and IT infrastructure, communication and collaboration, business operations, and mobility, while enterprises focus on their core business capabilities.
Ans. The global Managed Services market size is projected to reach USD 248750 Million by 2026, from USD 133440 Million in 2019, at a CAGR of 9.2% during 2021-2026.
Ans. North America is estimated to have the largest market share during the forecast period due to the growing acceptance of the recurring revenue model in the country
Ans. Adopting managed services is intended to be an effective way of keeping up-to-date on technology, getting access to expertise, and resolving cost, service quality, and risk-related issues.
Ans. Some key players operating in the managed services market are IBM, Huawei, Cisco, Unisys, DXC Technology, Tata Consultancy Services, WIPRO LIMITED, Atos, Ericsson, Accenture Plc, Nokia Networks, Dimension Data.
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LIST OF TABLES & FIGURES
