New York, USA, Jan. 10, 2022 (GLOBE NEWSWIRE) -- Research Dive states that the global managed services market is estimated to garner a revenue of $410,707.9 million by 2027, and rise at a CAGR of 11.1% in the forecast period from 2020 to 2027. The all-inclusive report on managed services market provides a brief summary of the current market scenario along with the key aspects of the industry, such as significant growth and restraining factors, challenges, and multiple growth opportunities. Besides, the report provides all the estimations of the market, making it easier and helpful for the novel participants to better understand the global market.
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Impact of COVID-19 on the Managed Services Market
The outbreak of COVID-19 has favorably impacted the global managed services market growth during the pandemic period. The positive growth of the market is majorly due to the increasing focus of most organizations on work from home owing to the pandemic situation. Managed services have played a significant role for organizations to carry out smooth operations. In addition, organizations are able to monitor the work flow in a detailed manner with the help of cloud managed services. These factors have progressively impacted the global managed services market growth during the pandemic period.
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Managed Services Market Dynamics
Analysts at Research Dive states that the growing adoption of cloud technology by various organizations across the globe for smooth operation flow along with the minimal costs associated with using managed services are the major factors anticipated to propel the growth of the global managed services market. Managed services help organizations to run the business operations and processes from anywhere across the globe. Conversely, the lack of skilled labor for managed services and lack of training facilities about cyber security across the globe may restrict the market growth in the forecast period.
Large Enterprises Sub-segment to Hold Maximum Market Share
Based on organization size, the large enterprises sub-segment is predicted to hold the dominating market share and surpass a revenue of $102,417.3 million during the analysis period. This sub-segment growth of the global managed services market is mainly because managed services help large enterprises in constant monitoring of the work flow in a most cost effective manner.
Cloud Sub-segment to Grow at the Highest Rate
Based on deployment type, the cloud sub-segment valued for $79,929.2 million in 2019 and is predicted to grow at the highest rate during the analysis period. This is majorly owing to the growing adoption of cloud by numerous the organizations across the globe. In addition, the increase in number of small & medium-sized enterprises are creating novel revenue opportunities for cloud vendors, which is expected to drive the sub-segment growth by 2027.
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Data Center and IT Infra Services Sub-segment to be Most Profitable
Based on service type, the data center and IT infra services sub-segment valued for $42,829.4 million in 2019 and is predicted to rise at a CAGR of 11.8% during the forecast period. This sub-segment growth of the global managed services market is mainly due to frequent occurring of backups which help organizations to access significant service or data that can be saved in more than one location.
IT Sub-segment to be Hold the Highest Market Share
Based on industry vertical, the IT sub-segment of the global analytics market valued for $30,328.8 million in 2019 and is projected to rise at a CAGR of 11.6% over the forecast period. This is majorly due to the growing usage of managed services in the IT sector for numerous operational activities in cloud premises or in house.
North America Region to Create Massive Growth Opportunities
By region, the North America managed services market accounted for $57,370.5 million in 2019 and is expected to witness significant growth during the analysis period. This is majorly due to the presence of large number of companies in the region along with the increasing focus of these companies on creating and developing more work force.
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Prominent Managed Services Market Players
The report presents several aspects of these major players such as strategic moves and business & financial performance of key players, latest developments, SWOT analysis, and product portfolio. Some of the key players of the global managed services market are:
• IBM
• HCL
• TCS
• Atos
• AT&T
• Cisco
• Fujitsu
• Ericsson
• Accenture
• Dimension Data
For instance, in January 2021, Accelirate Inc., the provider of strategy & road map development, business process automation implementation, and process analysis, launched novel managed services for enterprise automation, which is developed by the company to help organizations in monitoring, managing, and supporting their bot infrastructure.
Further, the market summarizes some other important aspects including SWOT analysis, latest strategic developments, the financial performance of ley players, and product portfolio. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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