Proactive Services Market Projected to reach $4.35 Billion by 2022
Increasing cost incurred by unplanned IT infrastructure outages is a major factor driving the growth of the proactive services market. Also, the increasing focus on enhancing customer experience and increasing complexity of cyber-attacks are expected to drive the proactive services market.
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The rapid adoption of proactive services, owing to a strong and well-established economy, is expected to make North America the largest regional market.
North America consists of developed economies, such as the US and Canada. In this region, organizations are rapidly adopting and willing to invest in emerging technologies, such as machine learning, artificial intelligence and cyber security. The factors driving the growth of the proactive services market in North America are stable economy, technology enhancements, and optimized infrastructure cost.
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The BFSI vertical is expected to hold the largest market share during the forecast period.
The risk level in the BFSI vertical is always high as it deals with critical financial data. The vertical provides extensive growth opportunities of proactive services, due to globalization of financial services. Moreover, digitalization has transformed customer practices. Hence, customers expect instant service. Digitalization significantly helps BFSI organizations to reduce the cost with an increase in customer satisfaction.
The SMEs segment is expected to gain a larger market share during the forecast period.
Organizations with less than 1,000 employees are categorized as SMEs. SMEs face some specific challenges, such as the requirement of domain-specific technical personnel and skilled workforce, budget constraints, scalability, management control and limited economies of scale. The increasing demand for cloud-based offerings among various organizations has led to the implementation of proactive services solutions among SMEs as well. The market size of proactive services market is relatively high among large enterprises. The solution vendors catering to SMEs are increasing, as SMEs are investing in the proactive services for better quality of network performance across organizations and make efficient decisions for their business growth.
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The major vendors in the proactive services market include Cisco (US), Hewlett Packard Enterprise (US), Microsoft (US), IBM (US), Ericsson (Sweden), Juniper Networks (US), Huawei (China), Nokia Networks (Finland), Avaya (US), Fortinet (US), Symantec (US), DXC Technology (US), McAfee (US), and Servion (India).
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