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 supplement...