Pune, India -- (SBWire) -- 05/19/2020 --Global Managed Services Market is valued approximately USD 207 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 8.1 % over the forecast period 2019-2026.
Managed services are the practice of outsourcing on a proactive basis certain processes and functions intended to improve operations and cut expenses. It simplifies IT operations, increases user satisfaction, and improves service quality, while reducing operating costs. Managed services' options range from short-term post go-live assistance to long-term application operation. These services helps business enterprises to offload IT operations to third-party service providers also known as managed service providers (MSPs), allowing organizations to focus on their core business activities and strategies. Various managed services offered by the MSPs include support and maintenance services, enterprise mobility management, monitoring services, managed contact center services, network management, database management, server management, disaster recovery, security services, managed storage, web hosting, remediation services, application hosting, and others. The growing IT and Telecom sector drives the market for managed services. Further, the penetration of digital technology into multiple sectors such healthcare, education, manufacturing has increased the reliance of these sectors on IT services. Hence increasing the demand for managed services as the companies prefer to unload the technical operations on to third parties.
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Moreover, the adoption of IoT solutions which connects hardware devices, embedded software, communication services in applications such as Smart homes, smart transport and smart healthcare further fuel the market growth. However, concerns regarding the lack of expertise in advanced technologies such as cloud-based technology impedes the growth of the market over the forecast period of 2020-2026. Factors such as increase in the automation in IT environments and rapid cloud adoption and continuous progress in the demand for managed services among Small and Medium-sized Enterprises (SMEs) are expected to create ample opportunities for managed services vendors.
The regional analysis of global Managed Services market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to early adoption of the technology such as Recurring revenue model. Moreover, the presence of major companies in the region offer easy availability and lower prices. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as rising transformation in the region towards digital technology in various sectors such as Banking sector would create lucrative growth prospects for the Managed Services market across Asia-Pacific region.
The regional analysis of global Managed Services market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the leading/significant region across the world in terms of market share owing to the rising adoption of business analytic software in every business size. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026.
Major Market Players included in this report are:
IBM Corporation (US)
Cisco Systems Inc. (US)
Fujitsu Ltd. (Japan)
Accenture (Ireland)
Atos (France)
DXC Technology (US)
AT&T Inc. (US)
Ericsson (Sweden)
Cognizant US)
HCL Technologies (India)
TATA Consultancy Services Limited (TCS) (India)
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the Managed Services Market are explained below:
By Service Types:
Managed Security Services
Managed Network Services
Managed Data Center and IT Infrastructure Services
Managed Communication and Collaboration Services
Managed Mobility Services
Managed Information Services
By Verticals:
Telecom
Information Technology (IT)
Banking, Financial Services and Insurance (BFSI)
Consumer Goods and Retail
Manufacturing
Healthcare and Life Sciences
Education
Energy and Utilities
Media and Entertainment
Others (transportation and Hospitality)
By Deployment Model:
Cloud
On-premises
Managed Services by Region: North America, U.S., Canada, Europe, UK, Germany, Asia Pacific, China, India, Japan, Latin America, Brazil, Mexico, Rest of the World
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Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Managed Services Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Note:
Due to the ongoing COVID-19 pandemic around the world, the figures in the Molecular Diagnostics study represented in the study might differ along with production capacities and other mentioned aspects. Also, note that there is a possibility of a "cool down period" after the pandemic that the data might differ as the world economy aims to catch on.
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Managed Services Market Share, Size, Growth Analysis and Forecast 2020-2026