Press release
Managed Services Market 2021 Net Worth is US$ 557.10 billion and Forecasts by 2028 | With Key Players are: Fujitsu Ltd. (Tokyo, Japan), Microsoft Corporation (Washington, U.S), NOKIA Corporation (Espoo, Finland), Deutsche Telekom AG (Bonn, Germany)....
Managed Services Market 2021-2028
New study report " Managed Services Market 2021 Global Market Opportunities, Challenges, Strategies, and Forecasts 2028" has been added to Fortune Business Insights.
Market Overview:
The global managed services market size is expected to gain momentum by reaching USD 557.10 billion by 2028 while exhibiting an impressive CAGR of 12.6% between 2021 to 2028. In its report titled "Managed Services Market, 2021-2028," Fortune Business Insights mentions that the market stood at USD 219.59 billion in 2020.
The global market of managed services is driven by its extensive demand in IT, healthcare, financial, telecommunication, etc. Businesses are adopting these services to upgrade and innovate their infrastructure. In addition, growing demand to meet end-to-hosting software is expected to fuel the market growth. Furthermore, the increasing demand for securing IT infrastructure against cyber threats is expected to fuel the market growth during the forecast period.
Top Key Players in this market are:
Fujitsu Ltd. (Tokyo, Japan)
Microsoft Corporation (Washington, U.S)
NOKIA Corporation (Espoo, Finland)
Deutsche Telekom AG (Bonn, Germany)
Verizon Communications Inc. (New York, U.S)
Rackspace Inc. (Texas, U.S.)
Citrix Systems Inc. (Florida, U.S.)
Telefonaktiebolaget LM Ericsson (Stockholm, Sweden)
Capgemini SE (Paris, France)
Atos SE (Bezons, France)
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COVID-19 Impact-
COVID-19 pandemic has led to a severe economic downturn, impacting industries and businesses but demand for MSP solutions surged. Businesses and people are normalizing remote work to curb the virus spread. Besides, government officials and companies' adoption of this technology to efficiently function during these tough times is expected to positively favor the market's growth amid the pandemic.
Competitive Landscape-
Key Players to Focus on Launching New Products to Strengthen the Market Growth
The market is consolidated by major companies striving to maintain their position by focusing on new launches. For instance, in May 2019, Integrated Telecom Company launched a new suite of Managed Security Services (MSS). The new launch enables several businesses with incident handling, monitoring, management of ongoing cybersecurity risks, and threat detection. Moreover, other key players are adopting proactive strategies such as new partnerships, mergers, and collaborations to favor the market's growth in the upcoming years.
Segmentation-
By Services, the market is segmented voice service, non-voice service, and IT managed service. Based on the industry, it is divided into finance & accounting (F & A), marketing, procurement, supply chain, human resource, and information technology (IT)). By end-user, it is divided into medical, financial, government, audit & consulting, corporate, telecom, and insurance & re-insurance.
Based on end-user, the corporate segment held the highest share of 18.1% in 2020. This is attributable to the growing demand for cloud-based and other IoT services by corporates to maintain highly complex infrastructure.
Finally, based on region, the market is categorized into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.
Regional Insights-
North America to Remain at Forefront Backed by Presence of Several Key Players in the Region
North America is expected to remain at the forefront and hold the highest position market during the forecast period owing to the presence of several key players in the region. Companies such as IBM, Cognizant, and several others are promoting the regional market. Moreover, the adoption of IT infrastructure by small enterprises is promoting the market. The market stood at USD 84.62 billion in 2020.
Asia Pacific is expected to showcase a significant managed services market share. This is attributable to the increasing investment in data and security, and the adoption of cloud-based services by several countries such as China, India, Australia, and New Zealand is promoting the market growth.
What does the Report Provide?
The market report provides a detailed analysis of several factors, such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaboration to contribute to the market growth.
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Table Of Content:
Introduction
Definition, By Segment
Research Methodology/Approach
Data Sources
Key Takeaways
Market Dynamics
Macro and Micro Economic Indicators
Drivers, Restraints, Opportunities and Trends
Impact of COVID-19
Short-term Impact
Long-term Impact
Competition Landscape
Business Strategies Adopted by Key Players
Consolidated SWOT Analysis of Key Players
Global Managed Services Key Players Market Share Insights and Analysis, 2020
Continue….
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