New York, USA, June 15, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research dive, the global managed services market is anticipated to generate a revenue of $410,707.9 million and is expected to rise at a CAGR of 11.1% over the forecast period from 2019 to 2027.
As per our analysts, with the increasing adoption of cloud technology across several organizations for the smooth flow of operations, the managed services market is expected to experience significant growth during the estimated period. Moreover, the managed services are cost-effective as they are outsourced by a third party, which is the factor predicted to bolster the growth of the market over the analysis timeframe. However, the lack of skilled laborers in managed service providers may hinder the growth of the market throughout the forecast period.
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Segments of the Managed Services Market
The report has divided the market into segments based on organization size, deployment type, service type, industry vertical, and region.
Organization Size: Large Enterprises Sub-Segment to be Most Productive
The large enterprises sub-segment accounted for $1,02,417.3 million in 2019 and is projected to grow at a CAGR of 10.1% during the analysis timeframe. The increasing demand for managed services by large enterprises to help in constant monitoring of workflow cost-effectively is predicted to propel the growth of the market sub-segment over the analysis period.
Deployment Type: Cloud Sub-Segment to be Most Lucrative
The cloud sub-segment is predicted to grow at a CAGR of 12.5% during the estimated timeframe. The rising numbers of small and medium-sized enterprises creating more revenue opportunities for cloud vendors are expected to fortify the growth of the managed services market sub-segment over the forecast period.
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Service Type: Data Center and IT Infra Services Sub-Segment to be Most Profitable
The Datacenter and IT infra services sub-segment generated $ 42,829.4 million in 2019 and is expected to grow at a CAGR of 11.8% throughout the analysis timeframe. Backups provided by managed services help organizations to access valuable data or services and can be saved in more than one location, which is expected to fuel the growth of the market sub-segment during the forecast period.
Industry Vertical: IT sub-segment is predicted to be Most Beneficial
The IT sub-segment is expected to rise at a noteworthy CAGR of 11.6% over the estimated timeframe. The increasing use of the managed services in the IT sector for numerous operational activities is predicted to amplify the growth of the market sub-segment during the analysis period.
Region: North America Region to Have Enormous Growth Opportunities
The North American region of the managed services market is projected to rise at a CAGR of 10.2% over the forecast period. The strong existence of a large number of companies in this region is predicted to drive the regional growth of the market throughout the estimated period.
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Key Players of the Managed Services Market
The major players of the market include
- AT&T
- Fujitsu
- TCS
- Atos
- Cisco
- Ericsson
- HCL
- Accenture
- IBM
- Dimension Data, and many more.
These players are broadly working on the development of new business strategies such as product development, mergers, and acquisitions, partnerships, and collaborations to gain leading positions in the global industry.
For instance, in February 2020, IBM Cloud, a set of cloud computing services for businesses offered by the IT company IMB, announced its collaboration with any.cloud, a leading cloud-service provider company. With these collaborations, the companies planned to provide innovative services for the organizations such as disaster recovery, backup, and many more for significant growth in their businesses. – Inquire here@ https://www.researchdive.com/purchase-enquiry/388
In addition, the report also presents other important aspects including product portfolio, the financial performance of the key players, and the latest strategic developments.
More about Managed Services Market:
- Global Managed Services Market to Grow Exponentially by 2027 Owing to Company Collaborations & Technological Advancements
- Enhancing a Small Business’s Chances of Growth Using Managed Service Providers
