Global Managed Services Market Size By Deployment Model (Cloud, On-Premises), By Service Type (Managed Network Services, Managed Data Center and IT Infrastructure Services, Managed Security Services, Managed Mobility Services), By Geographic Scope And Forecast
Report ID: 339933|No. of Pages: 202
Global Managed Services Market Size By Deployment Model (Cloud, On-Premises), By Service Type (Managed Network Services, Managed Data Center and IT Infrastructure Services, Managed Security Services, Managed Mobility Services), By Geographic Scope And Forecast
Managed Services Market Size And Forecast
Managed Services Market size was valued at USD 264.3 Billion in 2022 and is projected to reach USD 640.5 Billion by 2030, growing at a CAGR of 11.7% from 2023 to 2030.
The global managed services industry is essential in helping companies optimize their IT systems and infrastructure while concentrating on their primary business goals. The need for managed services is anticipated to increase as a result of the ongoing advancement of technology, creating new chances for service providers to offer cutting-edge, value-added solutions. The Global Managed Services Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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Global Managed Services Market Definition
The provision of outsourced support and management services for various IT and business operations by specialized service providers is referred to as the Global Managed Services Market. Network management, infrastructure management, security management, cloud services, data center management, application management, and mobility services are just a few of the many services that fall under the umbrella of managed services.
In this strategy, businesses contract with managed service providers (MSPs) to take care of administering and maintaining their IT systems and infrastructure. This enables companies to concentrate on their core skills while utilizing MSPs’ knowledge to guarantee efficient operations, increased productivity, and reduced downtime. Managed services have a broad range that includes both on-premises and cloud-based environments. To provide the best performance, security, and connection, networks must be monitored and maintained. Servers, storage, and operating systems are just a few examples of the hardware and software components that fall under the umbrella of infrastructure management.
In order to protect against cyber threats and data breaches, security management services involve implementing and administering strong security measures. Services like firewall administration, intrusion detection, vulnerability analyses, and incident response are included in this. Cloud services offer organizations the flexibility to leverage cloud computing resources, such as infrastructure, platforms, and software, without the need for on-premises infrastructure. Cloud environment migration, management, and optimization can be helped by managed service providers. Data center management involves overseeing the maintenance of data centers, including server provisioning, power and cooling management, and disaster recovery planning.
Application management services concentrate on the administration, support, and maintenance of business applications, ensuring their performance, upgrades, and availability. The administration and security of mobile devices, applications, and data are addressed by mobility services, enabling businesses to use mobile technology while preserving the integrity of their data. The need for specialized skills and expertise, the increased dependence on technology for company operations, and the complexity of IT infrastructures all contribute to the growth of the global managed services industry. Managed services are being used by companies in a range of sectors, including healthcare, finance, manufacturing, and retail, to streamline their IT operations, cut costs, and improve overall efficiency.
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Global Managed Services Market Overview
The Global Managed Services Market is a booming market that is supported by several important aspects. The market’s growth and development are shaped by several drivers and restraints. Managed services are when specific business functions are outsourced to outside service providers who are then in charge of managing and delivering those services. The potential for cost savings is one of the main factors driving the Managed Services Market. Organizations can lower their capital and operational costs by outsourcing network operations, IT infrastructure management, and other business processes. In comparison to in-house management, managed service providers (MSPs) can supply services at a cheaper cost by utilizing economies of scale, knowledge, and effective processes.
By delegating non-essential tasks to managed service providers, organizations may focus on their key capabilities. Businesses can devote more time and resources to strategic projects and revenue-generating activities by delegating specialized work to MSPs, such as IT support, cybersecurity, or cloud management. Managed services have the scalability and adaptability to change with the demands of the organization. MSPs can quickly ramp up or down resources, adjust service levels, and provide on-demand support as required. This adaptability is especially helpful in dynamic industries where organizations must contend with evolving technological environments or fluctuating consumer demands. By working with managed service providers, businesses can access knowledgeable personnel and cutting-edge equipment.
MSPs are able to provide high-quality services and keep up with the latest changes in the market since they specialize in particular fields and hire subject matter experts from a variety of fields. This accessibility to knowledge and cutting-edge technology can boost operational effectiveness and drive innovation. Managed service companies frequently have strong compliance frameworks and security safeguards in place. They may assist businesses in enhancing their cybersecurity defenses, implementing best practices, and adhering to industry requirements. Businesses profit from MSPs’ specialized security skills given the expanding threat landscape and rising data privacy concerns. Despite the growth prospects, the global market for application integration has some limitations and difficulties.
Even though managed service providers offer improved security measures, some businesses can be hesitant to entrust sensitive information and crucial business activities to outside suppliers. The adoption of managed services might be hampered by worries about data breaches, unauthorized access, or loss of control, especially in sectors with stringent compliance regulations. It might be difficult to integrate managed services into a current IT infrastructure. Aligning legacy systems with MSPs’ solutions can be difficult for organizations. It can take a lot of work and technical know-how to ensure a smooth integration, data migration, and compatibility with current applications and procedures.
Global Managed Services Market Segmentation Analysis
The Global Managed Services Market is Segmented on the basis of Deployment Model, Service Type, and Geography.
Managed Services Market, By Deployment Model
- Cloud
- On-Premises
Based on Deployment Model, The market is segmented into cloud and on-premises. The on-premises segment holds the largest market share and is estimated to witness the highest CAGR during the forecast period. The managed services on-premise market enables businesses to delegate total system management to professionals, ensuring the highest performance and availability of current data center investments. On-premise managed services are those that are physically implemented onsite in a business’ infrastructure. Because on-premise deployment is more secure and because cloud deployment is still relatively new, larger organizations with loads of data prefer it. However, the solutions offered by managed service providers are always solely user-focused and hosted on the client’s premises.
Managed Services Market, By Service Type
- Managed Network Services
- Managed Data Center and IT Infrastructure Services
- Managed Security Services
- Managed Mobility Services
- Managed Communication and Collaboration Services
- Managed Information Services
Based on Service Type, The market is segmented into managed network services, managed data center & IT infrastructure services, managed security services, managed mobility services, managed communication & collaboration services, and managed information services. The segment for managed mobility services has one of the largest market shares and is anticipated to grow at the fastest rate over the coming years. Managed mobility services assist businesses in organizing and enhancing the performance of their mobile workforce.
Businesses’ increased demand for the “bring your own device” trend has increased organizational productivity because employees may access work-related content from anywhere at any time to better serve their clients. With a variety of solutions, including sourcing and logistics management, IT and process services, data security, and privacy, managed mobility services increase corporate productivity. These services are offered in the cloud and on-premise. They are included to support the administration of various mobile devices across organizations.
Managed Services Market, By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
On the basis of Regional Analysis, The Global Managed Services Market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Due to the presence of prominent players that provide cutting-edge solutions and make significant investments in managed services, Asia Pacific held the largest regional share of the market for managed services in 2022 and is predicted to maintain that position during the forecast period.
Compared to other regions, the Asia Pacific region sees a greater demand for managed services from businesses looking to handle the expanding spectrum of technological and commercial difficulties. The necessity for increased efficiency and the fierce market competition has compelled Asia Pacific businesses to adopt cutting-edge technologies like cloud, AI, ML, and IoT. This has contributed to the Managed Services Market’s continued expansion. Japan, Australia, New Zealand, China, India, Australia, and China are the main market contributors in the region. However, in the US and throughout Europe, managed service provider business models and technologies have become more mature.
Key Players
The “Global Managed Services Market” study report will provide valuable insight with an emphasis on the global market including the major players in the market are Accenture, HCL Technologies, IBM, Capgemini, Fujitsu, Happiest Minds, Wipro, TCS, Atos, AT&T, Verizon, Deloitte, Infosys, Huawei, and Cognizant.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.
Key developments
- In May 2022, EY and IBM announced an alliance expansion to support businesses all across the world with increased resilience and digital innovation. In order to help clients overcome the urgent need to attract, retain, and upskill their workforce while transforming their HR function, EY and IBM have established a new Talent Centre of Excellence (COE). This COE will develop data-driven AI and hybrid cloud solutions.
- In January 2022, Qualys and KPMG India joined forces to bring Qualys solutions to KPMG’s Managed Security offering. With the world-class cybersecurity innovations from Qualys combined with KPMG’s industry-leading and well-recognized cybersecurity services in India, businesses will be able to protect their network, applications, endpoints, and cloud services from vulnerabilities in security, provide visibility, and assure compliance.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2019-2030 |
| BASE YEAR | 2022 |
| FORECAST PERIOD | 2023-2030 |
| HISTORICAL PERIOD | 2019-2021 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Accenture, HCL Technologies, IBM, Capgemini, Fujitsu, Happiest Minds, Wipro, TCS, Atos, AT&T, Verizon, Deloitte, Infosys, Huawei, and Cognizant . |
| SEGMENTS COVERED |
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| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
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Industry Analysis Matrix
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