Managed Services Market 2020 Technology Advancement - Cisco Systems Inc._, IBM Corporation_, Microsoft Corporation

Managed Services Market Size, Share - Growth, Trends and Forecast (2020 - 2025)

The report will make detailed analysis mainly on in-depth research on the development environment, Market size, development trend, operation situation and future development trend of Managed Services Market on the basis of stating current situation of the industry in 2020.

Market Overview

The managed services market was valued at USD 185.98billion in 2019, and it is expected to reach USD 356.24billion by 2025, registering a CAGR of 11.5% during the forecast period of 2020-2025.

The market for managed services is going to be fueled by the increasing shortage of expertise with business becoming more technology-oriented. Furthermore, Due to rapid digitalization, companies are required to continually innovate and upgrade their infrastructure to remain competitive.

- Managed services allow the business to outsource certain aspects of their IT requirements to a 3RD part Managed service provider. The companies are able to reduce costs, boost productivity, and enhance performance without having to spend time on implementation, maintenance, and upgradation of their IT related infrastructure.

- It is estimated that the year on year capital expenditure by small and medium businesses towards these services will increase by 25%. The market for SMBs and cloud services is expected to take a bigger share, despite the slow growth rate of the overall IT expenditure in SMBs, as per a recent survey conducted by Spiceworks.

- According to the report published by the Technology Services Industry Association (TSIA) as of 2018, about 81% of the MSPs were using commercial off-the-self tools to provide a customized solution to their clients. Also, the focus of the industry is slowly shifting towards standardization of managed services with 68% MSPs offering a standard solution.

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Competitive Landscape

The managed services market is consolidated and is dominated by major players. Some of the major players in the market are Cisco Systems Inc._, IBM Corporation_, Microsoft Corporation_, Verizon Communications Inc._, Fujitsu Ltd., Dell Technologies Inc._, Wipro Ltd., among others.

- August 2019 - AT&T and Dell Technologies jointly planned to exlpore the development of key open infrastructure technology areas for the next-generation network edge that will be required by service providers to support new use cases and service opportunities in a cloud-oriented 5G world.

- January 2019 - Ericsson launched a new AI-based managed services offering for communications service providers, called the Ericsson Operations Engine. The Ericsson Operations Engine proactively and directly addresses service providers managed services complexity challenges as the industry moves towards an era of 5G and IoT.

- January 2019 - Fujitsu announced that it had entered into a global systems integrator partnership with Microsoft. Three months later (March 2019), it attained the status of global Microsoft Azure Expert Managed Services Provider (MSP).

Scope of the Report

Managed services refer to a concept wherein an organizations in-house day-to-day management and operation functions are managed by a third party service provider. Managed services involve outsourcing of services related to infrastructure, security, printing, mobility and other functions, while the ownership rights stay with the end-user.

Key Market Trends:

Managed Security is Expected to Hold a Significant Share

- The cybersecurity remains an area which has not been addressed adequately by most of the companies, mostly because they do not have the level of expertise required to handle modern-day threats. As per the report published by Hiscox in 2019, almost 74% of organizations have a very novice infrastructure, while only 10% of the organization worldwide have the necessary infrastructure to deal with the cyberthreats.

- The report also mentions that the cost incurred to the cyberattacks have ballooned in the last year alone. The pharmaceutical industry was the worst affected with the average cost incident going up from USD 130,000 IN 2018 to USD 726,000 in 2019.

- The worldwide spending on security-related hardware, software, and services is forecast to reach USD 120 billion by 2022. Rising security threats, regulatory compliance, and fear of data breaches will continue to drive security investments across various industries. Many major organizations are adopting managed security services to help maintain security within an organization.

- Managed security services (MSSs) with advanced threat detection and remediation capabilities are enjoying high adoption rates. Connected devices are further expected to propel distributed denial of service (DDoS), and advanced persistent threat (APT) attacks. Thus, enterprises are seeking more proactive security measures to maintain security within an organization. According to Cloudflare, the financial cost of a DDoS is significant, as falling victim to a DDoS attack can cost an organization around USD 100,000 for every hour the attack lasts. The above factor is fueling the demand for managed security services.

- According to the 2018 report by Kaspersky Lab, the three industries most likely to suffer from a DDoS attack are telecoms, financial services, and IT. On average, large enterprises lose USD 417,000 as a result of a denial of service attack and small and medium enterprises lose USD 53,000. In 2018, around 20% of the companies with 50 employees or more reported that they have been the victim of at least one DDoS attack.

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The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the report’s an invaluable resource for industry executives, Marketing, Sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Note: All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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