BANGALORE, India, April 11, 2022 /PRNewswire/ — The Global Managed Services Market is segmented 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), by application ( Telecommunications and IT, BFSI, Retail Media and Entertainment, Education, Healthcare, Others): Opportunity Analysis and Industry Forecast, 2021–2028. is published in Securities Reports under the Software Category.
The global Managed Services market size is anticipated to reach USD 248750 Million by 2026, from USD 133440 Million in 2019, at a CAGR of 9.2% during 2021-2026.
Major Factors Driving Managed Services Market Growth:
The managed services market is expected to grow due to factors such as the need to improve operational efficiency and scalability so that organizations can focus on core business issues. Specifically, increasing BYOD adoption among organizations and the growing adoption of cloud-based managed security services.
Additionally, the managed services market is being driven by an increasing number of SMEs looking to outsource non-core activities.
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TRENDS INFLUENCING THE GROWTH OF THE MANAGED SERVICES MARKET
Managed services help companies increase operational efficiency and reduce operating costs, while allowing them to more effectively focus on their core competencies. Managed services help increase overall profitability and improve operational efficiency by ensuring optimal resource allocation and utilization. Companies find it easier to respond to technological advances thanks to scalable infrastructure and flexible managed service models. These factors are expected to drive the growth of the managed services market during the forecast period.
Because the cost of maintaining an in-house IT team is high, companies often see teams that are understaffed, overworked, and unable to complete tasks due to lack of time and resources. That doesn’t work every day, and it doesn’t work when the company is trying to grow. Network scaling requires a lot of coordination, manpower, and new equipment. It’s a significant expense for any business and often diverts the IT team’s attention from more important tasks like security. Managed services can help you expand or upgrade systems as needed, without the need to hire and train employees who may or may not be needed in the future. Therefore, this factor is expected to drive the adoption of managed services, thereby driving the growth of the managed services market.
Organizations are increasingly incorporating Managed Security Services (MSS) into their business models to protect their IT infrastructure against cyber threats. In both the public and private sectors, cyber threats are rapidly evolving, forcing MSPs to develop advanced offerings that can detect and mitigate cyber risks. Several companies are focusing on implementing cloud-based managed security services to protect themselves from various email viruses, DDOS attacks, firewalls, and intrusion detection. To meet the growing security demands, key players are offering advanced cloud-based security services. As a result, cloud-based managed services will become more popular in the coming years.
Furthermore, as more and more SMEs look to outsource non-core activities, SMEs are expected to be the driving factors positively impacting the growth of the managed services market.
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MARKET SHARE OF MANAGED SERVICES
Depending on the type, the managed mobility segment is expected to be the most lucrative segment. Managed mobility services help companies manage and optimize the performance of their mobile workforce.
Depending on the application, the financial industry is expected to be the most lucrative segment. To preserve and manage data ranging from trading instruments to record keeping, reporting, calculations and more, FSI companies require a sophisticated IT infrastructure. IT services are critical to the success of financial transactions that require the exchange of information with customers or internally.
Depending on the region, Pacific Asia (APAC) to grow at the highest CAGR during the forecast period. Compared to other regions, APAC companies are requesting more managed services to address an increasing range of technology and business challenges. Due to highly competitive market conditions and the need for higher productivity, APAC businesses have been forced to adopt advanced technologies such as cloud, AI, machine learning, and the Internet of Things (IoT). This has further boosted the managed services market.
key players. Main Players:
- DXC technology
- Tata Consulting Services
- Nokia networks
- Dimension data
- HCL Technologies
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– global IoT device management market is projected to reach the size $7,668.1 million by 2028, from $1,783.2 million in 2021, at a CAGR of 22.6% during 2022-2028.
– global Enterprise Mobility Management Market is projected to reach the size USD 35620 Million by 2027, from $9,341.3 million in 2020, at a CAGR of 20.9% during 2021-2027.
– global Internet of Things (IoT) Managed Services Market is projected to reach the size USD 99380 Million by 2028, from USD 34,570 Million in 2021, at a CAGR of 15.8% during 2022-2028.
– global Application Management Services (AMS) Marketplace is projected to reach the size USD 52020 Million by 2028, from $18.37 billion in 2021, at a CAGR of 15.8% during 2022-2028.
– global Identity and access management marketplace is projected to reach the size USD 43190 Million by 2027, from USD 15960 Million in 2020, at a CAGR of 15.3% during 2021-2027.
– global Managed Data Center Services Market is projected to reach the size USD 598.6 billion by 2028, from USD 218230 Million in 2021, at a CAGR of 15.2% during 2022-2028.
– global Enterprise Content Management (ECM) Market is projected to reach the size $95,840 million by 2028, from USD 39230 Million in 2021, at a CAGR of 13.1% during 2022-2028.
– global Managed cybersecurity services market is projected to reach the size USD 36670 Million by 2028, from USD 15940 Million in 2021, at a CAGR of 12.5% during 2022-2028.
– global Managed Security Services Market is projected to reach the size USD 47240 Million by 2027, from USD 21030 Million in 2020, at a CAGR of 11.8% during 2021-2027.
– global fleet management market the size was valued at $19.47 billion in 2020 and is projected to reach $52.50 billion by 2030 registering a CAGR of 10.6% from 2021 to 2030.
– global Electronic Security Managed Services Market is projected to reach the size USD 47640 Million by 2027, from $23.58 billion in 2020, at a CAGR of 10.6% during 2021-2027.
– global IT Managed Services Market is projected to reach the size $399.17 billion by 2028, from $224.010 million in 2021, at a Compound Annual Growth Rate (CAGR) of 8.5% during 2022-2028.
– global Cloud Managed Services Market is projected to reach the size USD 54240 Million by 2027, from USD 30140 Million in 2020, at a CAGR of 8.3% during 2021-2027.
– global Managed information services market is projected to reach the size $30.4 Billion by 2028, from USD 17020 Million in 2021, at a CAGR of 8.2% during 2022-2028.
– global Managed Network Services Market is projected to reach the size USD 50660 Million by 2028, from $33.36 billion in 2021, at a CAGR of 5.7% during 2022-2028.
– global Telecommunications Managed Services Market is projected to reach the size USD 42430 Million by 2028, from $19.6 Billion in 2021, at a CAGR of 11.5% during 2022-2028.
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