Managed Services Market Set to Surge - Key Insights You Must Know

Managed Services Market

The global Managed Services market size is projected to reach USD 271640 Million by 2028, from USD 142300 Million in 2021, at a CAGR of 9.2% during 2022-2028.

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Managed Services Market Market Driving Factors Trends

Enterprises and government agencies around the world are migrating from test environments to cloud and compute instances for more of their mission-critical workloads. Furthermore, the demand for data centers is increasing as a result of the increased usage of IoT, cloud, and Big Data analytics as a fundamental part of numerous enterprises' digital transformation strategies. This is assisting in the expansion of the managed service sector

Cloud adoption is projected to increase as demand grows. Furthermore, security concerns, combined with the use of IT functions to seize control of organizational networks and IT infrastructure, are projected to boost Managed Services Market growth.

Network monitoring, cloud, data center management, security, and mobility services provided by managed service providers assist firms to reduce their original infrastructure investment. This aspect is predicted to increase managed service market size.

Managed services enable businesses to boost process productivity, lower operating expenses, and focus on their core capabilities. They aid in the automation of capital distribution and allocation in order to boost overall productivity and efficiency. Managed services are used by banks and other financial organizations to address a variety of difficulties, including market and regulatory change, technological change, and talent shortages. The managed service industry is predicted to grow as a result of this extensive acceptance among businesses from various industries.

MSPs (Managed Service Providers) assist firms in identifying their business plans by taking into account aspects such as available resources, consumer preferences, and industry requirements. This, in turn, is likely to provide MSPs with growth prospects during the projection period.

Managed Services Market Share Analysis

Managed Services Market By Type

During the projected period, the managed data center and managed IT network services segments are likely to have a significant market share.

Managed Services Market By Region

Due to the growing popularity of the recurring revenue model in the country, North America is expected to have the greatest market share throughout the projection period. The United States and Canada are predicted to provide the most income to the North American managed services market. Improved dependability and performance, stronger security enforcement, and increased flexibility are all advantages of using managed services.

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The Asia Pacific is also expected to increase significantly during the forecast period. Growing investment in SMEs by emerging nations such as China and India is likely to drive demand for managed services market.

The report offers an exhaustive geographical analysis of the global Managed Services market, covering important regions, viz, North America, Europe, China, Japan, Southeast Asia, India and Central & South America. It also covers key countries (regions), viz, U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, U.A.E, etc.

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Key Companies

• IBM
• Huawei
• Cisco
• Unisys
• DXC Technology
• Tata Consultancy Services
• Wipro
• Atos
• Ericsson
• Nokia Networks
• Dimension Data
• Fujitsu
• HCL Technologies

Managed Services Market Segmentation

Managed Services Market Data By Type
• Managed Security Services
• Managed Network Services
• Managed Mobility Services
• Managed Information Services
• Managed Data Center Services
• Managed Communication and Collaboration Services
• Managed IT Infrastructure Services

Managed Services Market Data By Application
• Telecom and IT
• BFSI
• Retail
• Media and Entertainment
• Education
• Healthcare

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