Managed Services Market size, share & Forecast 2028
The Managed Services Market was valued
around USD 217.8 billion in 2020 and is expected to reach USD 558.8 billion by
2028, growing at a CAGR of 12.5% over the period (2021-2028).
The factors driving growth of the Managed
Services Market includes growing demand for securing IT infrastructure from
cyberattacks or data breaches, Government regulations promoting digital
transformation, emerging trend of Bring Your Own Device (BYOD) and improvements
in the living standards. For instance, more than 31,000 cases of cybercrimes
were reported worldwide, and the number of global data breaches rose to 4,000
during the same year, which is expected to accelerate the Global Managed
Services Market in the approaching years. Moreover, growing adoption of
advanced technologies such as Artificial Intelligence (AI), Machine Learning
(ML) and Big Data Analytics, increasing emphasis of business on enhancing
operational efficiency and rapid urbanization, are some of the additional
factors supplementing the Managed Services Market Growth. In addition,
the increasing investments by major companies on research and development,
strategic mergers and collaborations between key industry players and growing
disposable incomes, are further propelling the Managed Services Market share.
However, growth of the Managed Services
Market is hindered attributed to insufficient availability of marketing staff.
The leading players operating in the market
are Wipro Ltd., Bigleaf Networks, Masergy Communications, Cisco Systems Inc.,
Huawei Technologies Co. Ltd., IBM Corporation, Aryaka Networks, T-Systems,
Global Cloud Xchange, and Juniper Networks, among others.
Based on Type, the Managed Mobility Service segment is predicted to
capture the largest market share during the forecast period
As per the Managed Services Market Trends,
managed mobility solutions enhance sourcing and logistics management and data
security and privacy, and optimizes mobile workforce performance, are some of
the factors propelling growth of the segment.
Based on Organization Size, the On-Premises segment is projected to hold
the highest market share over the forecast period
According to the Managed Services Market
Research, on-premises deployment helps in customizing as per customer’s
needs and develops control center within organizations for effective coordination
re pushing growth of the segment.
Based on Region, the North American region is anticipated to expand at a
remarkable CAGR during the forecast period
As per the Managed Services Market Analysis,
presence of the leading players such as IBM Corporation, Cisco Systems Inc.,
and Juniper Networks, rising concerns related to cyber across, increasing
population growth rates and high per capita incomes, are some of the important
factors augmenting the Managed Services Market size in the North
American region.
Key Developments
·
In 2022: Rackspace Technology
partnered with BT to transform BT’s multinational customers’ cloud services.
According to the agreement, BT hybrid cloud services will depend on Rackspace
Technology’s solutions, which will be deployed in BT data centers along with
its Rackspace Fabric management layer.
·
In 2021, Bigleaf networks
expanded its presence in North America to cater to the growing demand for its
services as well as get ahead of anticipated near and long-term demand.
· In 2021, Huawei launched CloudWAN 3.0 solution to strengthen connectivity for several industries and help them develop a flexible, reliable, and deterministic network to tackle several challenges faced by enterprises during digital transformation.
Market Segmentation
Segmentation by Service Type
·
Managed Security Service
·
Managed Identity and Access Management
·
Managed Antivirus/Antimalware
·
Managed Firewall
·
Managed Risk And Compliance Management
·
Managed Vulnerability Management
·
Managed Security Information And Event Management
·
Managed Intrusion Detection Systems/Intrusion Prevention Systems
·
Managed Unified Threat Management
·
Managed Encryption
·
Others
·
Managed Network Service
·
Managed Network Provisioning
·
Network Monitoring and Management
·
Managed Software Defined-Wide Area Network
·
Managed Data Center and IT Infrastructure Service
·
Storage Management
·
Server Management
·
Managed Print Services
·
Others
·
Managed Communication and Collaboration Service
·
Managed Voice Over Internet Protocol
·
Managed Unified Communication As A Service
·
Others
·
Managed Mobility Service
·
Device Life Cycle Management
·
Application Management
·
Managed Information Service
·
Business Process Management
·
Managed Operational Support Systems/Business Support Systems
Segmentation by Organization Size
·
Large Enterprises
·
Small and Medium-Sized Enterprises
·
Global Managed Service Market by Deployment Type
·
On-Premises
·
Cloud
Segmentation by Vertical
·
Telecom
·
Information Technology
·
Banking, Financial Services, and Insurance
·
Consumer Goods and Retail
·
Manufacturing
·
Healthcare and Life Sciences
·
Education
·
Energy and Utilities
·
Media and Entertainment
- Others
·
Asia Pacific
o China
o Japan
o India
o Rest of APAC
·
North America
o United States of America
o Canada
·
Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
·
RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
GMI
Research is a market research and consulting firm which provides market
insights and intelligence across 12 major sectors helping our clients in making
effective investment and business decisions.
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