In a recently published report, Managed Services Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Managed Services Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Global Managed Services Market is valued approximately USD 207 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 8.1 % over the forecast period 2019-2026. Managed services are the practice of outsourcing on a proactive basis certain processes and functions intended to improve operations and cut expenses. It simplifies IT operations, increases user satisfaction, and improves service quality, while reducing operating costs.
Managed services’ options range from short-term post go-live assistance to long-term application operation. These services helps business enterprises to offload IT operations to third-party service providers also known as managed service providers (MSPs), allowing organizations to focus on their core business activities and strategies. Various managed services offered by the MSPs include support and maintenance services, enterprise mobility management, monitoring services, managed contact center services, network management, database management, server management, disaster recovery, security services, managed storage, web hosting, remediation services, application hosting, and others. The growing IT and Telecom sector drives the market for managed services. Further, the penetration of digital technology into multiple sectors such healthcare, education, manufacturing has increased the reliance of these sectors on IT services.
Hence increasing the demand for managed services as the companies prefer to unload the technical operations on to third parties. Moreover, the adoption of IoT solutions which connects hardware devices, embedded software, communication services in applications such as Smart homes, smart transport and smart healthcare further fuel the market growth. However, concerns regarding the lack of expertise in advanced technologies such as cloud-based technology impedes the growth of the market over the forecast period of 2020-2026. Factors such as increase in the automation in IT environments and rapid cloud adoption and continuous progress in the demand for managed services among Small and Medium-sized Enterprises (SMEs) are expected to create ample opportunities for managed services vendors.
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The regional analysis of global Managed Services market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to early adoption of the technology such as Recurring revenue model. Moreover, the presence of major companies in the region offer easy availability and lower prices. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as rising transformation in the region towards digital technology in various sectors such as Banking sector would create lucrative growth prospects for the Managed Services market across Asia-Pacific region.
Major market player included in this report are:
IBM Corporation (US)
Cisco Systems Inc. (US)
Fujitsu Ltd. (Japan)
Accenture (Ireland)
Atos (France)
DXC Technology (US)
AT&T Inc. (US)
Ericsson (Sweden)
Cognizant US)
HCL Technologies (India)
TATA Consultancy Services Limited (TCS) (India)The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Service Types:
Managed Security Services
Managed Network Services
Managed Data Center and IT Infrastructure Services
Managed Communication and Collaboration Services
Managed Mobility Services
Managed Information Services
By Verticals:
Telecom
Information Technology (IT)
Banking, Financial Services and Insurance (BFSI)
Consumer Goods and Retail
Manufacturing
Healthcare and Life Sciences
Education
Energy and Utilities
Media and Entertainment
Others (transportation and Hospitality)
By Deployment Model:
Cloud
On-premises
By Region:
North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 20198
Forecast period – 2020 to 2026
Target Audience of the Global Managed Services Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2026 (USD Billion)
1.2.1. Managed Services Market, by Region, 2018-2026 (USD Billion)
1.2.2. Managed Services Market, by Service Type, 2018-2026 (USD Billion)
1.2.3. Managed Services Market, by Deployment Type, 2018-2026 (USD Billion)
1.2.4. Managed Services Market, by Vertical, 2018-2026 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Managed Services Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Managed Services Market Dynamics
3.1. Managed Services Market Impact Analysis (2018-2026)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Managed Services Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model (2016-2026)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Managed Services Market, by Service Type
5.1. Market Snapshot
5.2. Global Managed Services Market by Service Type, Performance – Potential Analysis
5.3. Global Managed Services Market Estimates & Forecasts by Service Type 2016-2026 (USD Billion)
5.4. Managed Services Market, Sub Segment Analysis
5.4.1. Managed Security Services
5.4.2. Managed Network Services
5.4.3. Managed Data Center and IT Infrastructure Services
5.4.4. Managed Communication and Collaboration Services
5.4.5. Managed Mobility Services
5.4.6. Managed Information Services
Chapter 6. Global Managed Services Market, by Deployment Type
6.1. Market Snapshot
6.2. Global Managed Services Market by Deployment Type, Performance – Potential Analysis
6.3. Global Managed Services Market Estimates & Forecasts by Deployment Type 2016-2026 (USD Billion)
6.4. Managed Services Market, Sub Segment Analysis
6.4.1. Cloud
6.4.2. On-premises
Chapter 7. Global Managed Services Market, by Vertical
7.1. Market Snapshot
7.2. Global Managed Services Market by Vertical, Performance – Potential Analysis
7.3. Global Managed Services Market Estimates & Forecasts by Vertical 2016-2026 (USD Billion)
7.4. Managed Services Market, Sub Segment Analysis
7.4.1. Telecom
7.4.2. Information Technology (IT)
7.4.3. Banking, Financial Services and Insurance (BFSI)
7.4.4. Consumer Goods and Retail
7.4.5. Manufacturing
7.4.6. Healthcare and Life Sciences
7.4.7. Education
7.4.8. Energy and Utilities
7.4.9. Media and Entertainment
7.4.10. Others (transportation and Hospitality)
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