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Rising Technology Providers Drive Growth In The Multi-Vendor Support Services Market Emerges as a Core Driver of the Multi-Vendor Support Services Market in 2025
Multi-Vendor Support Services
What Is the Expected CAGR for the Multi-Vendor Support Services Market Through 2025?
In recent times, the size of the multi-vendor support services market has seen a consistent growth. The prediction points towards an increase from $64.52 billion in 2024 to $66.59 billion in 2025, indicating a compound annual growth rate (CAGR) of 3.2%. This growth during the historic period is due to factors such as the rising complexity of IT environments, the pressure on organizations to optimize costs, a variety of technology vendor ecosystems, aging IT infrastructures, and the requirement for flexible and tailored support solutions.
What's the Projected Size of the Global Multi-Vendor Support Services Market by 2029?
The market size of multi-vendor support services is projected to experience significant expansion in the upcoming years, increasing to $83.72 billion by 2029 with a CAGR of 5.9%. This predicted growth during the forecast period is attributed to the expansion of hybrid and multi-cloud environments, increased requirement for cybersecurity support services, rapid incorporation of emerging technologies, a growing emphasis on IT resilience and business continuity, and the broadening of global IT operations. The forecast period will also see predominant trends such as the transition towards outcome-based support models, the implementation of AI and automation in support services, the focus on proactive and anticipatory support, the need for unified support from multiple vendors, and the evolution of service level agreements (SLAs) in multi-vendor support.
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Top Growth Drivers in the Multi-Vendor Support Services Industry: What's Accelerating the Market?
The proliferation of technology providers is expected to stimulate the growth of the multi-vendor support services market during the forecast period. As technology is increasingly integrated across all aspects of business and commerce, there is a growing demand for vendor support services in executing effective technology implementation. For instance, a report from the Switzerland-based intergovernmental body, United Nations Conference on Trade and Development (UNCTAD), in July 2022, indicated that over 80% of businesses are connected to the internet, reaching an average of 95% across these nations. Nonetheless, the extent to which businesses leverage internet connectivity for customer and supplier boons varies from country to country. The percentage of companies participating in e-commerce is generally less, with nearly 40% of businesses purchasing from suppliers online and only around a quarter selling their products online. Hence, the notable rise and prevalence of technology providers will fuel the growth of the multi-vendor support services market.
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What Trends Will Shape the Multi-Vendor Support Services Market Through 2029 and Beyond?
Telecom operators are showing an increasing interest in multi-vendor support services, a development that is forming an emerging trend in the multi-vendor support services sector. In order to deliver services that are compatible with 2G/3G/4G, future 5G mobile, data, TV, fixed line, and unified communications, communication service providers (CSPs) are crafting complex multi-vendor networks (UC). For example, in November 2022, ePlus, a company based in the US, disclosed the initiation of its ePlus Lifecycle Services Support (eLSS), primarily devised to offer a consolidated and simplified technical support for Cisco and corresponding technologies. As a result of this move, ePlus has become the inaugural North American partner eligible in the Cisco Partner Lifecycle Services Support scheme. This novel service is intended to augment customer experience by proffering initial-call multi-product support, shorter resolution times, and reduced IT disruptions.
What Are the Main Segments in the Multi-Vendor Support Services Market?
The multi-vendor support servicesmarket 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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Which Top Companies are Driving Growth 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 Regions Will Dominate the Multi-Vendor Support Services Market Through 2029?
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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