Press release
Exploring the Managed Services Market: Insights on Market Size, Growth Rate, Key Players, and Trends
Managed Services Market
What Is The Projected Market Size Of The Global Managed Services Market And Its Growth Rate?
• The managed services market size in 2024 was $290.89 billion.
• It is predicted to grow to $310.95 billion in 2025 with compound annual growth rate (CAGR) of 6.9%.
• Market growth can be attributed to cost efficiency, scalability needs, focus on core competencies, complexity of IT environments, and globalization.
• This market is expected to see rapid growth in 2029, predicted to reach $520.79 billion with a CAGR of 13.8%.
• Increasing complexity of IT environments, rise in cyber threats, remote workforce management, cloud adoption surge, and focus on business continuity are major growth influencers.
What Is Driving The Growth In The Managed Services Market?
The growing number of small and midsize businesses (SMB) is driving the growth of the managed services market. SMBs are turning to managed services to efficiently manage their IT infrastructure, cybersecurity, and network management. This encourages them to focus on core business functions without the need for extensive in-house technical expertise. For instance, in 2022, GOV.UK reports over 5.47 million small businesses and 35,900 medium-sized businesses compared to 2021, supporting the notion that the increasing number of SMBs propels the growth of the managed services market.
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Who Are the Key Players Driving Managed Services Market Growth?
• Huawei Technologies Co Ltd.
• Verizon Communications Inc.
• AT&T Inc.
• Acce*nture plc
• International Business Machines Corporation (IBM)
• Deloitte AG
• Cisco Systems Inc.
• Fujitsu Global Limited
• Tata Consultancy Services Limited
• Ericsson AB
• Nokia Corporation
• BAE Systems plc
• Capgemini SE
• NTT DATA Corporation
• Cognizant Technology Solutions Corporation
• CenturyLink Inc.
• Infosys Limited
• DXC Technology Company
• Atos SE (Societe Europeenne de Services Informatiques)
• Wipro Limited
• Rackspace Technology Inc.
• GTT Communications Inc.
• HCL Technologies Limited
• Microland Limited
• Secureworks Inc.
• Happiest Minds Technologies Limited
• Alert Logic Inc.
• Intact Technology Inc.
• Business Technology Partners LLP
What Are The Key Trends In The Managed Services Market?
• Service personalization
• Data analytics and insights
• Focus on customer experience
• Compliance management
• Scalability demands
What Are The Segments Of The Global Managed Services Market?
• By Service Type: Managed Security Services, Managed Network Services, Managed Data Center And IT Infrastructure Services, Managed Communication And Collaboration Services, Managed Mobility Services, Managed Information Services, Other Service Types
• By Deployment model: Cloud, On-Premises
• By Organizational Sizes: Large Enterprises, Small And Medium-sized Enterprises (SMEs)
• By Application: BFSI, IT And Telecom, Retail And Consumer Goods, Manufacturing, Government, Healthcare And Life Sciences, Energy And Utilities, Media And Entertainment, Other Applications
Which Region Leads The Managed Services Market?
North America was the largest region in the managed services market in 2024. However, Asia-Pacific is predicted to be the Region to watch with the fastest growth in the forecast period. Regions covered in the report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Managed Services Market Global Market Report?
- Market Size Analysis: Analyze the Managed Services Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Managed Services Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Managed Services Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Managed Services Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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