Managed Information Services Market Analysis and Forecast - Global Insights 2024

The managed information services market size has grown rapidly in recent years. It will grow from $277.66 billion in 2023 to $324.67 billion in 2024 at a compound annual growth rate (CAGR) of 16.9%. The growth in the historic period can be attributed to remote work trend, cloud adoption, rising cybersecurity threats and data breaches, increased complexity of IT infrastructure.

The managed information services market size is expected to see rapid growth in the next few years. It will grow to $595.16 billion in 2028 at a compound annual growth rate (CAGR) of 16.4%. The growth in the forecast period can be attributed to increasing regulatory requirements, evolving cyber threat landscape, data analytics and business intelligence, environmental and social responsibility, digital transformation initiatives. Major trends in the forecast period include extended use of artificial intelligence (AI) and machine learning (ML), edge computing expansion, blockchain for data integrity and security, integration of 5G services, advanced data analytics and AI-driven insights.

Market Overview -
Managed information services (MIS) refers to outsourcing comprehensive IT management and maintenance tasks, including network management, data storage, cybersecurity, software updates, help desk support, and strategic IT planning. MIS providers, also known as managed service providers (MSPs), ensure an organization's IT operations' reliability, security, and efficiency, allowing the client to focus on core business activities while benefiting from expert IT management and support.

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Rising Cybersecurity Threats Fueling Growth In Managed Information Services Market
A growing emphasis on cybersecurity is expected to propel the growth of the managed information services market going forward. Cybersecurity protects computer systems, networks, and digital assets from unauthorized access, attacks, damage, or security breaches. The growing emphasis on cybersecurity is driven by the increasing sophistication of cyberattacks, the proliferation of cybercrime, and the expanding attack surface due to technological advancements. Managed information services (MIS) play a crucial role in cybersecurity by providing organizations with a proactive and comprehensive approach to protecting information systems and data. For instance, according to the Department for Science, Innovation, and Technology, a UK-based government body, in 2022, cybercrime impacted 11% of businesses and 8% of charities collectively. Further, it rose to 26% for medium-sized companies, 37% for large corporations, and 25% for high-income charities in 2023. Therefore, the growing emphasis on cybersecurity is driving the growth of the managed information services market.

Competitive Landscape -
Major companies operating in the managed information services market are Microsoft Corporation, Verizon Communications Inc., Deutsche Telekom AG, Nippon Telegraph and Telephone Corporation, Dell Technologies Inc., International Business Machines Corporation, Cisco Systems Inc., Orange Business Services, Hewlett-Packard Enterprise Company, Fujitsu Ltd., Nokia Solutions and Networks Oy, Tata Consultancy Services Limited, Capgemini SE, Cognizant Technology Solutions Corporation, Infosys Limited, DXC Technology Company, CenturyLink Inc., VMware Inc., Atos SE, HCL Technologies Limited, Rackspace Inc., Wipro Ltd., BMC Software Inc., Unisys Corporation

Launch Of Innovative Edge Platform For Advanced Computing Solutions In Managed Information Services
Major companies operating in managed information services increasingly focus on developing advanced solutions, such as Edge Platform, for scaling AI applications to gain a competitive edge in the market. Edge Platform for Scaling AI Applications refers to the platform that empowers enterprises by enabling them to accelerate time-to-scale AI deployments and work closely with partners to grow the end-to-end private network market. For instance, in February 2024, Intel Corporation, a US-based technology company, launched its new Edge Platform for scaling AI applications. It aims to simplify edge AI applications' development, deployment, and management, allowing enterprises to build, deploy, run, secure, and manage edge and AI solutions at scale with cloud-like simplicity. This platform empowers enterprises to accelerate time-to-scale deployment, improve total cost of ownership (TCO), and achieve higher returns on investment.

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Key Segments -
The managed information services market covered in this report is segmented -
1) By Solution: Managed Networks, Managed Infrastructure, Managed Communication, Managed Security, Managed Data Center
2) By Function: Data Backup And Recovery, Network Monitoring And Security, Human Resource, System Management
3) By Deployment Mode: On-Premise, Cloud
4) By End-User: Energy And Utility, Healthcare, Financial, Manufacturing, Banking, Financial Services And Insurance (BFSI), Government, Information Technology (IT) And Telecommunications, Other End-Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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