Dublin, Nov. 27, 2023 (GLOBE NEWSWIRE) -- The "Global Managed Services Market by Service Type (Managed Security Service, Managed Network Service, Managed IT Infrastructure & Data Center Service), Deployment Type (On-premises, Cloud) Vertical and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global managed services market is poised for substantial growth, with the market size expected to increase from USD 275.5 billion in 2023 to USD 372.6 billion by 2028, at a compound annual growth rate (CAGR) of 6.2%. This growth is driven by the increasing complexity of IT environments, evolving business needs, and technological advancements that have transformed the landscape of managed services.
The comprehensive market study covers various segments of the managed services market, including service types, such as managed security service, managed network service, managed IT infrastructure and data center service, managed communication and collaboration service, managed mobility service, managed information service, verticals, deployment types, and regions. It provides a detailed analysis of key market players, their company profiles, product offerings, recent developments, and market strategies.
The managed services market has evolved to cater to diverse industries and sectors, offering services that address the specific demands of each. Factors such as the growth of cloud computing, the need for robust cybersecurity measures, and the rise of remote work have all contributed to the expansion and relevance of the managed services market. As businesses seek efficient ways to manage their operations and leverage specialized expertise, the market is expected to continue its growth trajectory.
Managed services typically involve service level agreements (SLAs) that outline the scope of services, performance metrics, response times, and other terms of the arrangement. These agreements ensure a clear understanding between the client and the Managed Service Provider (MSP) regarding expectations and responsibilities related to the outsourced services. Key to managed services is the opportunity for organizations to offload non-core tasks and operational duties to external experts, enabling them to focus on core competencies, strategic initiatives, and innovation.
The healthcare & life sciences segment is projected to exhibit the highest CAGR during the forecast period. Managed services play a critical role in this sector by offering tailored solutions to address its unique complexities and demands. Benefits of managed services in healthcare include improved operational efficiency, enhanced patient outcomes, and robust data security.
Managed security services, with a focus on managed identity & access management (IAM), are expected to dominate the market. IAM services ensure controlled and secure user access to various resources within an organization's IT environment, minimizing the risk of unauthorized access and data breaches. These services manage user authentication, implement secure methods like multi-factor authentication (MFA), and aid in compliance enforcement.
The cloud deployment type is poised for rapid growth, offering organizations flexibility, scalability, and cost-effectiveness. Cloud-based managed services enable organizations to scale resources as needed, reduce upfront hardware investments, and facilitate remote work and collaboration.
Leading players in the managed services market include IBM, Fujitsu, Accenture, Atos, Cisco, DXC, TCS, Rackspace, AT&T, Verizon, Dimension Data, Infosys, HCL, Ericsson, GTT Communications, NTT Communications, and Digital Realty.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 355 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $275.5 Billion |
| Forecasted Market Value (USD) by 2028 | $372.6 Billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
Premium Insights
- Rapid Geographic and Technological Changes to Drive Growth of Managed Services
- Managed Communication & Collaboration Services Segment to Account for Largest Market Share During Forecast Period
- Managed Iam Segment to Account for Largest Market Share During Forecast Period
- Managed Wan Segment to Account for Largest Market Share During Forecast Period
- Storage Management Segment to Account for Largest Market Share During Forecast Period
- Managed Ucaas Segment to Account for Largest Market Share During Forecast Period
- Device Life Cycle Management Segment to Account for Larger Market Share During Forecast Period
- Managed Oss/Bss Segment to Account for Larger Market Share During Forecast Period
- On-Premises Segment to Account for Larger Market Share During Forecast Period
- Bfsi Segment to Account for Largest Market Share During Forecast Period
- Asia-Pacific to Emerge as Best Market for Investments in the Next Five Years
Case Study Analysis
- Dxc Technology Helped Inail Prevent Cyber Threats with Automation and ML
- Ericsson Helped Newport Utilities Bring High-Speed Broadband to Rural Communities
- Lumen Technologies Helped Net Protections Secure Network with 24-Hour Operational Mission-Critical Infrastructure
- AWS Managed Services Helped Fieldcore Establish Operations Support and Infrastructure Incident Management
- Zachry Corporation Boosted Expertise and Support with Rackspace Technology's Managed Data Center
- TCS Provided Flexible Global Security Operations Center to Shv Energy
Market Dynamics
Drivers
- Increasing Adoption of Cloud-Managed Services
- Lack of Skilled IT Professionals
- Growth in Adjacent Markets
- Rising Need for Cost and Risk Reduction
Restraints
- Lack of IT Security Professionals
- Increasing Regulations and Compliances
Opportunities
- Changing Work Environments
- Rising Adoption of Cloud Solutions
Challenges
- Lack of Skilled Professionals
- Increased Competition and Pricing Pressure
Technology Analysis
- Big Data Analytics
- Cloud Computing
- Artificial Intelligence
- Machine Learning
- 5G Technology
- Regulatory Landscape
Regulatory Implications and Industry Standards
- Gdpr
- Sec Rule 17A-4
- Iso/Iec 27001
- System and Organization Controls 2 Type II Compliance
- Finra
- Foia
- Hipaa
Company Profiles
Major Players
- Weaknesses and Competitive Threats)*
- IBM
- Fujitsu
- Accenture
- Atos
- Cisco
- Dxc Technology
- Tcs
- Rackspace Technology
- AT&T
- Verizon
Other Players
- Dimension Data
- Infosys
- Hcl
- Ericsson
- Gtt Communications
- Ntt Data
- Happiest Minds Technologies
- Huawei
- Nokia Networks
- Lumen Technologies
- Wipro
- Cognizant
- Capgemini
- Bt
- Deloitte
- Secureworks
- Fortra
- Bae Systems
- Trustwave Holdings
- Hughes Network Systems
- Mettel
- Microland
- Intact Technology
- 1-Net
- Securekloud
- Ac3
- Corsica Technologies
- Empist
Startups/SMEs
- Optanix
- Essintial Enterprise Solutions
- Ascend Technologies
- Aunalytics
- Cloud Specialists
- Atera
- Cortavo
- Magna5
- Layer Solutions
- Cyberduo
For more information about this report visit https://www.researchandmarkets.com/r/l3orjt
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