Press release
11.32% CAGR growth by 2023 in Managed Services Market| Key Vendors - FUJITSU LTD, CISCO SYSTEMS INC., IBM, HEWLETT-PACKARD, MICROSOFT CORPORATION, NOKIA SOLUTIONS AND NETWORKS, ACCENTURE PLC, TATA CONSULTANCY SERVICES LIMITED, WIPRO LTD, amongst others.
Market Analysis:North America to Dominate the Market
The market for global managed services is largely dominated by North America, followed by Europe. There has been an increase in customer expectation that has enhanced the product portfolio of the service providers. Growing demand for workforce mobility and enterprise agility has fuelled the demand in this region.
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The global managed services market is expected to witness keen interest in information services and managed mobility. There has been a shift in focus toward managed services and their applications for both short- and long-term strategic decisions. As managed services enable a company to access enhanced applications and services that could not be possible in-house, it helps them to target their core strategic area, while outsourcing the rest of the tasks to the service providers who possess the operational expertise in that domain. There has been an increase in capital expenditure for cloud and managed services by small and medium enterprises, and this is expected to drive the market over the forecast period. Improved cost and operational efficiency is driving the market. Managed security type is expected to accelerate the market landscape.
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Market Segments:
Managed Services Market is segmented by:
1. Deployment: Cloud, On-premise
2. Type: Managed Data Centre, Managed Mobility, Managed Security, Managed Communications, Managed Network, Managed Infrastructure, Managed Information, Others
3. Enterprise: Small & Medium Enterprise, Large Enterprise
4. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa
Key Developments in the Market
• September 2017 - Wipro became the official technology partner to McLaren Technology Group to help drive digitalization across its businesses.
• September 2017 - Wipro was awarded a seven-year contract by the European energy company, Innogy SE, to manage its data center and cloud services.
• February 2017 - IBM acquired Agile 3 Solutions, a software company that created security analytics dashboard, enabling C-suite executives with limited technical knowledge to understand security alerts.
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