The global managed services market size reached US$ 261.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 427.7 Billion on by 2028, exhibiting a growth rate (CAGR) of 8.35% during 2023-2028.
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.
Industry Trends Drivers
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.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Accenture plc, ATT 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.
| Managed Services Market Report Scope | |
| Report Coverage | Details |
| Market size value in 2022 | US$ 261.5 Billion |
| Market forecast in 2028 | US$ 427.7 Billion |
| Growth Rate | CAGR of 8.35% from 2023 to 2028 |
| Base year for estimation | 2022 |
| Historical data | 2017-2022 |
| Forecast period | 2023-2028 |
| Report coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends |
| Segments covered | Type, Deployment Mode, Enterprise Size And End Use |
| Regional scope | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Key companies profiled | Accenture plc, ATT 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. |
| Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Type:
- Managed Infrastructure
- Managed Data Center
- Managed Security
- Managed Communications
- Managed Network
- Managed Mobility
Market Breakup by Deployment Mode:
- On-premises
- Cloud-based
Breakup by Enterprise Size:
- Large Enterprises
- Small and Medium-sized Enterprises
Industry Breakup by End Use:
- IT and Telecommunication
- BFSI
- Healthcare
- Entertainment and Media
- Retail
- Manufacturing
- Government
- Others
Regional Insights:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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