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Rising Technology Providers Drive Growth In The Multi-Vendor Support Services Market: Strategic Insights Driving Multi-Vendor Support Services Market Momentum in 2025
Multi-Vendor Support Services
How Large Will the Multi-Vendor Support Services Market Size By 2025?
The market size for multi-vendor support services has seen consistent growth in the past few years. The market is projected to increase from a worth of $64.52 billion in 2024 to $66.94 billion in 2025, with a compound annual growth rate (CAGR) of 3.8%. Factors such as escalating complexity of IT environments, the pressure on companies for cost optimization, an expansive range of technology vendors, aged IT infrastructures, and the requirement for adaptable and personalized support solutions stimulated the growth during the historic period.
How Big Is the Multi-Vendor Support Services Market Size Expected to Grow by 2029?
The market size for multi-vendor support services is projected to see a significant increase in the coming years, expanding to $84.56 billion in 2029 with a compound annual growth rate (CAGR) of 6.0%. This anticipated growth in the forecast period is due to a surge in hybrid and multi-cloud environments, an increased need for cybersecurity support services, rapid embracement of novel technologies, a strong emphasis on IT resilience and business continuity, and the broadening of global IT operations. Key trends anticipated during the forecast period encompass a shift towards outcome-based support models, the incorporation of AI and automation in support services, a focus on proactive and predictive support, a demand for unified support from multiple vendors, and evolving service level agreements (SLAs) within the multi-vendor support market.
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Which Key Market Drivers Powering Multi-Vendor Support Services Market Expansion and Growth?
The surge and influence of technology providers will catalyze the expansion of the multi-vendor support services market in the predicted period. The expanding necessity for IT companies and proficiency corresponds with technology's increasing permeation of all commercial and business sectors, necessitating vendor support services for efficient technology deployment. For example, the United Nations Conference on Trade and Development (UNCTAD), a Switzerland-based intergovernmental organization, stated in July 2022 that over 80% of firms have internet access, with an average of 95% across these nations. Nevertheless, the extent of internet usage for connecting with customers and supplier markets differs by country. The share of companies participating in e-commerce is generally lower, with about 40% of businesses purchasing from suppliers online and merely 25% selling their goods online. As a result, the notable growth and influence of technology providers will stimulate the multi-vendor support services market.
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Which Fast-Growing Trends Are Poised to Disrupt the Multi-Vendor Support Services Market?
Telecom operators' growing preference for multi-vendor support services signifies a fresh trend taking shape in the multi-vendor support services market. Communication Service Providers (CSPs) are intricately developing multi-vendor networks that are intended to deliver services apt for 2G/3G/4G, future 5G mobile, data, TV, fixed line, and unified communications (UC). For example, in November 2022, ePlus, a US-based firm, unveiled its ePlus Lifecycle Services Support (eLSS). This service is focused on offering centralized and simplified technical support for Cisco and related technologies. With this endeavor, ePlus becomes the inaugural North American partner accredited in the Cisco Partner Lifecycle Services Support program. The newly launched service is devised to boost customer service through offering first-call multi-product support, curtailing resolution times, and reducing IT disturbances.
What Are the Emerging Segments in the Multi-Vendor Support Services Market?
The multi-vendor support services market covered in this report is segmented -
1) By Type: Hardware Support Services, Software Support Services
2) By Application: Sales And marketing, Financial And Accounting, Supply Chain, IT Operations, Other Applications
3) By Organization Size: Small And Medium Sized Enterprises, Large Enterprises
4) By Vertical: Banking, Financial Services And Insurance, Telecom And IT, Media And Entertainment, Travel And Logistics, Other Verticals
Subsegments:
1) By Hardware Support Services: On-Site Support Services, Remote Support Services, Repair And Replacement Services, Installation And Configuration Services, Preventive Maintenance Services
2) By Software Support Services: Technical Support Services, Software Updates And Upgrades, Application Maintenance Services, Troubleshooting And Issue Resolution, Customization And Integration Services
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Who Are the Global Leaders in the Multi-Vendor Support Services Market?
Major companies operating in the multi-vendor support services market include AT&T Inc., Dell Technologies Inc., Furukawa Co. Ltd., Hitachi Ltd., HP Inc., International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, NEC Corporation., Toshiba Corporation, Fujitsu Ltd., Lenovo Group Limited., NetApp Inc., Clear Technologies Inc., Dynamic Systems Inc., Unisys Corporation, NCR Corporation, CompuCom Systems Inc., Stefanini Inc., Wipro Limited., HCL Technologies Limited, Infosys Limited., Tech Mahindra Limited, Capgemini SE, Atos SE, Cognizant Technology Solutions Corporation, DXC Technology Company, accenture* plc, Tata Consultancy Services Limited.
Which are the Top Profitable Regional Markets for the Multi-Vendor Support Services Industry?
North America was the largest region in the multi-vendor support services market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the multi-vendor support services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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