IMARC Group, a leading market research company, has recently releases report titled “Managed Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global Managed Services market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big Is The Managed Services Market?
The global managed services market size reached US$ 261.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 427.7 Billion by 2028, exhibiting a growth rate (CAGR) of 8.35% during 2023-2028.
What are Managed Services?
Managed services refer to the process of outsourcing the complete or partial management responsibility to a third party for handling various business-related activities. They usually include maintaining and monitoring equipment and remotely managing systems, wireless fidelity, server, firewall, encryption, information, security, communication, servers, networks, organization infrastructures, etc. The managed services help organizations in managing customer networks, applications, security, storage, computing, operating systems, etc. They enable the maintenance of equipment and remote management of systems, servers, firewalls, encryption, organization infrastructure, etc. Managed services are utilized by enterprises to allow continuous infrastructure auditing, enhance productivity, provide transparency, track records, automate business processes, improve operations, etc. Consequently, they find extensive applications across numerous sectors, such as telecommunications, healthcare, media and entertainment, retail, manufacturing, etc.
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What Are The Growth Prospects And Trends In The Managed Services Industry?
The increasing need for secure IT infrastructures across organizations, owing to the rising instances of cyberattacks, and the growing consumer inclination towards advanced solutions to ensure business continuity, constant monitoring, and efficient identity and access management are primarily driving the managed services market. Besides this, the emerging trend of integrating Artificial Intelligence (AI), Machine Learning (ML), the Internet of Things (IoT), and Augmented Reality (AR) technologies to reduce error rates, facilitate smart monitoring and compliance management, boost the efficiency of processes, etc., is acting as another significant growth-inducing factor.
Moreover, the widespread adoption of managed services by small and medium-sized enterprises (SMEs) for enhanced operational efficiency, minimized operating expenses, improved focus on core competencies, optimal resource usage and distribution, etc., is also positively influencing the global market. In line with this, the sudden outbreak of the COVID-19 pandemic is bolstering the need for a remote working environment, on account of the implementation of mandatory lockdowns by government bodies, which is expected to propel the managed services market over the forecasted period.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Managed Infrastructure
- Managed Data Center
- Managed Security
- Managed Communications
- Managed Network
- Managed Mobility
Breakup by Deployment Mode:
- On-premises
- Cloud-based
Breakup by Enterprise Size:
- Large Enterprises
- Small and Medium-sized Enterprises
Breakup by End Use:
- IT and Telecommunication
- BFSI
- Healthcare
- Entertainment and Media
- Retail
- Manufacturing
- Government
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Accenture plc
- 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. and Wipro Limited.
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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