Press release
Managed Services Market Anticipated to Reach USD 570.8 Billion by 2033 as Organizations Focus on Reducing IT Infrastructure Costs
MARKET OVERVIEW:The managed services market is poised for significant growth, driven by the increasing demand for IT outsourcing and efficient infrastructure management. Businesses are increasingly turning to managed service providers (MSPs) to handle their IT needs, allowing them to focus on core activities while benefiting from expert solutions. The market is forecast to expand at a 7.2% CAGR from 2025 to 2033, reaching a value of USD 570.8 billion by 2033. Technological advancements and the growing complexity of IT systems are among the key drivers of this growth.
STUDY ASSUMPTION YEARS:
• BASE YEAR: 2024
• HISTORICAL YEAR: 2019-2024
• FORECAST YEAR: 2025-2033
MANAGED SERVICES MARKET KEY TAKEAWAYS:
• The global managed services market is expected to reach USD 570.8 billion by 2033, growing at a CAGR of 7.2% from 2025.
• Increasing demand for IT outsourcing and cost-effective business solutions is propelling market growth.
• The rise of cybersecurity threats has led to a higher demand for specialized managed security services.
• North America dominates the market due to robust IT infrastructure and high adoption rates.
• The widespread adoption of cloud technologies is driving demand for cloud-based managed services.
• Growing complexity of IT infrastructure is encouraging businesses to seek managed services for better management and security.
• Key end-user industries include IT and telecommunications, BFSI, healthcare, retail, and manufacturing.
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MARKET GROWTH FACTORS:
Technological Advancements and IT Complexity:
As businesses adopt increasingly complex IT systems, including hybrid cloud environments and expansive data networks, the need for managed services is growing. Providers offer specialized expertise to navigate these complexities, ensuring efficient performance and security. Innovations like multi-hybrid cloud management platforms, such as Cognizant's Skygreed, further optimize cloud-native architectures, providing companies with cost-effective and sustainable solutions, ultimately boosting market growth.
Cybersecurity Demand:
With cyber threats evolving rapidly, businesses face increased risks to data security. Managed service providers (MSPs) offer critical security solutions, including 24/7 monitoring and threat detection. The growing demand for comprehensive cybersecurity is evident, particularly in industries like finance, healthcare, and retail, where data protection regulations are stringent. MSPs' specialized security services help mitigate risks, protect IT assets, and ensure compliance with cybersecurity standards, thereby fostering market growth.
Cloud Adoption and Market Expansion:
The shift towards cloud computing is transforming the managed services landscape. As businesses transition to cloud environments for enhanced efficiency and collaboration, MSPs play a crucial role in managing these infrastructures. With services such as cloud migration and management, providers help businesses maximize the benefits of the cloud while maintaining performance and security. This widespread adoption of cloud technologies is a significant growth factor, as it drives demand for managed cloud services and opens up new business opportunities.
MARKET SEGMENTATION:
• By Type:
o Managed Infrastructure: Includes services for managing physical and virtual IT infrastructure.
o Managed Data Center: Encompasses services related to data storage, backup, and recovery.
o Managed Security: Focuses on security services such as threat monitoring and incident response.
o Managed Communications: Involves the management of communication services like VoIP and video conferencing.
o Managed Network: Covers network management, optimization, and monitoring services.
o Managed Mobility: Encompasses management of mobile devices and enterprise mobility solutions.
• By Deployment Mode:
o On-premises: Solutions that are implemented within the organization's own infrastructure.
o Cloud-based: Solutions provided via cloud platforms, offering scalability and flexibility.
• By Enterprise Size:
o Large Enterprises: Solutions tailored for large-scale businesses with complex IT needs.
o Small and Medium-sized Enterprises (SMEs): Services designed to meet the needs of smaller organizations with limited IT resources.
• By End Use:
o IT and Telecommunication: Managed services for IT infrastructure and telecommunication networks.
o BFSI: Financial institutions leveraging MSPs for security, regulatory compliance, and IT management.
o Healthcare: Services focused on secure data management, IT infrastructure, and compliance with healthcare regulations.
o Entertainment and Media: Solutions for managing digital content, streaming platforms, and IT systems in media.
o Retail: Managed services for e-commerce platforms, inventory management, and customer data security.
o Manufacturing: IT solutions for production monitoring, supply chain management, and automation.
o Government: Services supporting governmental IT infrastructure, data management, and security.
o Others: Services for various other industries.
• Breakup by Region:
o North America (United States, Canada)
o Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
o Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
o Latin America (Brazil, Mexico, Others)
o Middle East and Africa
REGIONAL INSIGHTS:
North America is a dominant player in the managed services market, driven by the presence of established technology firms, a robust IT infrastructure, and high market adoption. The region benefits from businesses' growing reliance on IT outsourcing and advanced service offerings, including cybersecurity and cloud management solutions, which continue to foster significant market growth.
RECENT DEVELOPMENTS & NEWS:
In recent years, the managed services market has seen rapid innovation, particularly in cloud management and cybersecurity. Companies like Rackspace Technology are advancing hybrid multi-cloud solutions, while providers such as Cognizant are launching platforms like Skygreed to simplify cloud migration. The increasing complexity of IT infrastructures is pushing businesses to seek efficient outsourcing solutions, further propelling the growth of the market.
KEY PLAYERS:
• AT&T Inc.
• Capgemini SE
• Cisco Systems Inc.
• Dell Technologies Inc.
• Fujitsu Limited
• Infosys Limited
• International Business Machines Corporation
• Nokia Corporation
• Rackspace Technology Inc.
• Tata Consultancy Services Limited
• Telefonaktiebolaget LM Ericsson
• Verizon Communications Inc.
• Wipro Limited
Ask Analyst for Customization: https://www.imarcgroup.com/request?type=report&id=6158&flag=C
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
IMARC Group
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Email: sales@imarcgroup.com
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United States: +1-631-791-1145
IMARC Group is a global management consulting firm that helps the world's most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, considerations studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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