New York, USA, Oct. 27, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global managed services market is anticipated to generate a revenue of $4,10,707.9 million and grow at a healthy CAGR of 11.1% from 2019-2027.
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As per our analysts, the increasing adoption of cloud technology across several organizations at a greater pace worldwide is expected to uplift the growth of the market during the forecast period. With managed services, it becomes helpful to run the business processes and functionalities remotely from anywhere across the globe. Moreover, the growing inclination of organizations on adopting cloud services for the smooth flow of the organization’s work is further expected to bolster the growth of the managed services market during the analysis period. However, the lack of skilled labor to run the managed services smoothly may hamper the growth of the market over the forecast period.
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Segments of the Global Managed Services Market
The report has been 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 Profitable
The large enterprises sub-segment is expected to grow at a CAGR of 10.1% and is predicted to hold the maximum market share throughout the forecast time period. This is mainly due to the dealing of large enterprises with heavy data on a regular basis. In addition, the usage of managed services in constant monitoring of workflow in a cost-effective manner is further expected to amplify the growth of the managed services market’s sub-segment during the forecast period.
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Deployment Type: Cloud Sub-Segment to be Most Lucrative
The cloud sub-segment is estimated to grow at a CAGR of 12.5% and is predicted to witness steady growth during the analysis period. This is mainly because of the rising adoption of cloud technology by most organizations. Moreover, the increasing number of small and medium-sized enterprises providing new opportunities for cloud vendors is further expected to augment the growth of the market’s sub-segment throughout the analysis period.
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Service Type: Data Center and IT Infra Services Sub-Segment to be More Beneficial
The utilization of backups mostly in IT organizations to access important data or services and to save this information in more than one location is further expected to fuel the growth of the managed services market’s sub-segment during the forecast period.
Industry Vertical: IT Sub-Segment to Hold Largest Market Share
The IT sub-segment is predicted to grow at a CAGR of 11.6% and is anticipated to see steady growth throughout the estimated period. In addition, the increasing usage of managed services in the IT sector for numerous operational activities in house as well as in cloud premises is further expected to thrive the growth of the market throughout the analysis time period.
Region: North American Region Anticipated to Have Enormous Growth Opportunities
The North American region is estimated to grow at a CAGR of 10.2% and is predicted to dominate the market over the analysis time period. This is mainly because of the presence of the majority of companies in this region. Further, the growing focus and development made by companies embrace the usage of managed services is the major factor expected to drive the regional growth of the managed services market during the analysis period.
Key Players of the Market
• IBM
• HCL
• TCS
• Atos
• AT&T
• Cisco
• Fujitsu
• Ericsson
• Accenture
• Dimension Data
For instance, in July 2021, Netrix LLC, a renowned managed and professional IT services provider, has announced the acquisition with Contegix, LLC, a leading provider of cloud, managed services, and application lifecycle management. With this acquisition, Netrix has aimed to expand its presence in the Northeast and Mid-Atlantic regions to scale up the use of cloud managed services capabilities.
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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