New York, US, Oct. 12, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), Global Managed Services Market Research Report: By Organization Size, Service Type, Vertical, and Region- Forecast till 2030, the managed service market is foretold to curl substantially during the assessment era from 2020 to 2030 at a healthy growth rate of approximately 9.76%. The report further anticipates the market to attain a estimate of about USD 507.13 Billion by the end of 2030.
Managed Services Market Overview:
The global market for managed services has expanded rapidly in the last few years, given the technological advancements and rapidly growing IT sector.
Managed Services Market Competitive Analysis
The directory of renowned contributors across the global market for managed services includes firms such as:
- DXC Technology Company from the US
- Cisco Systems Inc of US
- Unisys Corporation of the US
- Huawei Technologies Co. Ltd of China
- Amdocs Limited of US
- NTT Data Corporation of Japan
- Telefonaktiebolaget LM Ericsson of Sweden
- Accenture of US
- Atos SE of France
- Fujitsu from Japan
- IBM Corporation of US
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Managed Services Market Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 507.13 Billion |
| Growth Rate | CAGR of 9.76% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | The use of technology and advancements have influenced the market and increase productivity |
| Key Market Drivers | The increasing need for reduction in the maintenance and administration costs through the organizations globally |
Managed Services Market USP Covered
Managed Services Market Drivers
The global market for managed services has developed swiftly in the past few years owing to the growing requirement for reduction in maintenance and administration costs and the huge requirement for online & remote work.
Market Restraints
On the other hand, the lack of balance among the industry's optimal performances may restrict the market's growth.
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COVID-19 Impact
the world has faced massive losses and disruptions in the day to day operation given the global jealth crisis that affected majority of industry areas across the globe. The travel restrictions and social distancing norms imposed across the majority of the world led to causing massive disruptions in the supply chain networks. Unlike other market sectors, the global market for managed services witnessed several positive changes during the pandemic. With all the financial and industrial activities returning on track, the global Managed Services Market is predicted to witness massive growth over the coming years.
Managed Services Market Segment Analysis
Among all the solutions, the managed data center segment is predicted to secure the top spot across the global market for managed services over the assessment era. The main reason behind the segment's dominance is the renewed incorporation of cutting-edge technology into the present and new corporate infrastructures. Managed data center services may assist in boosting corporate operations by enhancing business automation and improving business management in a hybrid IT architecture. The use of these services across several end-use sectors is likely to increase as the number of cyber-attacks elevates. They are usually utilized in business operations to safeguard confidential data.
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Among all the Managed Information Service (MIS) types, the Business Process Outsourcing (BPO) segment is predicted to ensure the top spot across the global Managed Services Market power the review timeframe. The rising requirement for integrating BPO as part of a business strategy to emphasize core strengths and enhance profitability is the central aspect causing an upsurge in the segment's performance. Implementing BPO services is likely to be propelled by numerous aspects, such as investments in cloud computing, social media management tools, and a focus on process automation.
Among all the deployment modes, the on-premise segment is anticipated to lead the global Managed Services Market over the review era. Several organizations have implemented the on-premise deployment mode since it does not need an internet connection and enables easy customization of software to fit the business process needs of clients. The adoption also helps raise operational efficiency and founding a control center in a company for effectively controlling and coordinating several project management duties and business operations.
Among all the enterprise sizes, the large enterprise segment will likely lead the global market for managed services over the coming years. Large businesses address large amounts of data that must be efficiently accessible and maintained locally and remotely. Moreover, large organizations gradually turn to managed security services to keep and supervise their corporate data security.
Among all the end-users, the financial services segment will likely secure the leading position across the global market for managed services over the coming years. Financial institutions are switching to managed services to deal with numerous issues, such as a looming shortage of employees with experience in cutting-edge technologies, market and regulatory changes, and keeping up with technological advancements.
Managed Services Market Regional Analysis
The global Managed Services Market is analyzed across five major regions: The Middle East and Africa, Europe, North America, South America, and the Asia Pacific.
According to the analysis reports by MRFR, the North American region is anticipated to secure the top position across the global Managed Services Market over the review timeframe. The primary parameter supporting the growth of the regional market is the part of substantial leading entities across the region investing in more reliable research and development activities. Because of the substantial focus on digitalization, IT companies across the region are reducing operational expenses, especially in the wake of the pandemic; they are implementing a range of managed services to boost operational efficiency. The region has the US as the leading growth contributor. Companies across the country rely more on managed service providers (MSPs), mainly for IT support services, to remain competitive in the face of repeated digitization, which in turn is also expected to catalyze the growth of the regional market over the coming years.
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The European regional Managed Services Market is anticipated to secure the second position globally over the assessment era. The main factor supporting the growth of the regional market is the growing demands and adoptions of IoT and cloud platforms across the region.
The managed services market for the Asia-Pacific region is predicted to exhibit the maximum CAGR over the review era. Various regional companies are likely to significantly participate in the regional market's growth over the future years by adopting cloud-based solutions and enhancing data security investments. Moreover, the growing spending because the company implemented cutting-edge technologies such as advanced technology for company development and cloud-based technology is also likely to catalyze the growth of the regional market over the coming years.
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