The global Managed Services market is on a growth trajectory, with an expected Compound Annual Growth Rate (CAGR) of 16.2%. Managed services allow businesses to outsource their IT operations to Managed Service Providers (MSPs), enabling organizations to focus on their core activities. Services offered by MSPs include support and maintenance, monitoring, security, network management, and more. The increasing need to reduce operational infrastructure costs is expected to drive market growth.
Request To Download Free Sample of This Strategic Report:- https://www.reportocean.com/industry-verticals/sample-request?report_id=MRF173
Market Segmentation
- Service Type: The market segments include cloud services, managed data centre services, managed security services, managed collaboration services, managed mobility services, network services and testing, and others.
- Organization Size: Market segments encompass large enterprises and SMEs.
- Vertical: Verticals targeted are BFSI, IT & telecommunication, retail & e-commerce, healthcare, industrial/manufacturing, energy & utilities, education & research, and others.
Market Size and Regional Analysis
The market was valued at USD 417.1 billion and is expected to grow at a CAGR of 16.2% to reach USD 417.1 billion by 2024. North America leads the market, with the US having a significant market share, followed by Europe with a growing adoption of cloud platforms and IoT technology.
Major Players in the Market
Key players in the global Managed Services market include:
- Unisys Corporation (US)
- NTT Data Corporation (Japan)
- Telefonaktiebolaget LM Ericsson (Sweden)
- Atos SE (France)
- Huawei Technologies Co. Ltd (China)
- DXC Technology Company (US)
- Fujitsu (Japan)
- Amdocs Limited (US)
- IBM Corporation (US)
- Accenture (US)
- Cisco Systems, Inc (US)
Market Dynamics
- Drivers: Factors driving market growth include the need to reduce operational infrastructure costs, the ability to pay for services on a monthly basis, and the increasing need for managed enterprise data and security.
- Restraints: Challenges include the high cost of implementation and the complexity of certain services.
- Opportunities: Opportunities include the growing need for secure and efficient managed services across various sectors.
About Report Ocean
Report Ocean is a leading provider of informative research reports, offering quantitative and qualitative research results. They use advanced technology and analysis tools to provide in-depth knowledge, enabling informed and strategic decision-making.