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Managed Services Market to Witness Huge Growth by Key Players: IBM, Cisco, Fujitsu, Accenture, Atos, DXC Technology, Ericsson, Cognizant, HCL, TCS, Infosys, Dimension Data and Others.

04-10-2020 03:43 PM CET | IT, New Media & Software

Press release from: ReportsandReports

Managed Services Market to Witness Huge Growth by Key Players:

According to Market Study Report, Managed Services Market provides a comprehensive analysis of the Managed Services Market segments, including their dynamics, size, growth, regulatory requirements, competitive landscape, technological trends and emerging opportunities of global industry. This report also provides market landscape and market share information in the Managed Services Market. An exclusive data offered in this report is collected by research and industry experts team.

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The Global Managed Services Market is expected to grow from USD 223.0 Billion in 2020 to USD 329.1 Billion by 2025, at a Compound Annual Growth Rate (CAGR) of 8.1% during the forecast period. This report spread across 190 pages, profiling 20 companies and supported with 113 tables and 40 figures are now available in this research.

Top Companies Profiled in the Managed Services Market:
o IBM (US)
o Cisco (US)
o Fujitsu (Japan)
o Accenture (Ireland)
o Atos (France)
o DXC Technology (US)
o AT&T (US)
o Ericsson (Sweden)
o Cognizant (US)
o HCL (India)
o TCS (India)
o Infosys (India)
o Dimension Data (South Africa)
o NTT (Japan)
o GTT Communications (US)
o Happiest Minds Technologies (India)
o Rackspace (US)
o Huawei (China)
o Nokia (Finland)
o CenturyLink (US)

"Small and medium-sized enterprises segment to grow at a higher CAGR during the forecast period"
The IT spending in the SMEs segment is estimated to increase at a high rate. According to a study, the CAGR for IT spend by SMEs in Europe, the Middle East and Africa (EMEA) between 2018 and 2023 is expected to be 3.8%, as compared with 2.7% of the overall market. This rise is expected to give a boost to managed service providers, especially as smaller businesses move to the cloud, automate services, and explore advanced digital technologies.

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"Banking, financial services and insurance vertical to hold the largest market share in 2020 in the managed services market"
The BFSI vertical is a highly regulated vertical with a large number of compliances and regulations. Enterprises are highly charged for violation of these regulations. Hence, to avoid fines enterprises require managed services. Data encryption and secure back up are highly demanded by these enterprises, along with a full range of Backup and Disaster Recovery (BDR) solution, to meet federal compliance regulations.

"Managed services market in APAC is projected to grow at the highest CAGR during the forecast period"
The high growth of the market in APAC is attributed to high data breach cost or loss due to a cyberattack, lack of IT budget, and continuously increasing SMEs are driving the growth of the market. For instance, healthcare providers could suffer a loss of USD 23 million due to cyberattacks. SMEs lack IT budget and have high cloud adoption compared to large enterprises; thus, SMEs are opting for the managed services model at a high rate.

Breakdown of primary participants' profile:
o By Company - Tier 1-48%, Tier 2-37%, and Tier 3-15%
o By Designation - Managers-34%, CXOs-40%, and Executives-26%
o By Region - North America-42%, Europe-31%, APAC-16%, RoW - 11%

Competitive Landscape of Managed Services Market:
1 Competitive Leadership Mapping
1.1 Visionary Leaders
1.2 Dynamic Differentiators
1.3 Innovators
1.4 Emerging Companies

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Reason to access this report:
The report would help the market leaders/new entrants in this market with the information on the closest approximations of the revenue numbers for the overall managed services market and the sub segments. This report would help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies.

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