Multi-Vendor Support Services Market: Key Facts, Dynamics, Segments and Forecast

The Multi-Vendor Support Services (MVSS) market is expected to grow at a Compound Annual Growth Rate (CAGR) of 2.52% during the forecast period
The global MVSS market size is expected to grow from USD 53.09 billion in 2018 to USD 60.14 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 2.52% during the forecast period. Major growth factors for the market include the rapidly increasing changes in the IT infrastructure, rising maintenance costs of Original Equipment Manufacturer (OEM) services, reducing IT support and maintenance complexities, and regaining control of infrastructure support from OEMs. However, the loss of control over IT assets, concerns over sharing of proprietary data, and privacy and security issues may restrain the market growth.

The hardware support services segment to hold a larger market size during the forecast period
Hardware support services are pre-emptive and corrective services that help physically repair or optimize hardware, which includes contract maintenance and per-incident repair. These support services comprise remote and onsite desktop, server, and storage support. Furthermore, they also include online and telephone technical troubleshooting and assistance for setup, and all fee-based hardware warranty upgrades. The hardware support services segment is expected to hold a higher market share in the MVSS market. The growth of this market is fuelled by the increase in demand for a new level of support services in this market.

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The sales and marketing segment to hold the largest market size during the forecast period

IT applications help optimize enterprises’ marketing and sales distribution activities. Organizations are using Customer Relationship Management (CRM) software solutions and other associated services to manage customers and prospects, send emails, make calls, and manage pipelines, among others. Furthermore, the marketing activities have changed considerably over the last decade, as organizations are focusing on digital marketing and using advanced analytics to find customer preferences and market trends. Enterprises are digitizing this business application and MVSS are helpful in increasing the efficiency of these organizations by reducing downtime, increasing life of devices, managing software updates and patches, and maintaining the IT infrastructure with the help of services such as proactive reporting and analytics, remote advisory, and proactive maintenance services

Asia Pacific (APAC) to grow at the highest CAGR during the forecast period
APAC is expected to grow at the highest CAGR during the forecast period. The increasing global competition and high economic growth in the emerging countries, such as China and India, are boosting the growth of the MVSS market in APAC. The technological landscape of APAC is heavily dependent on technological innovations. Therefore, organizations are rapidly adopting MVSS to increase the efficiency of overall infrastructure, and reduce the maintenance and support service costs.

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Christophe Rude
Christophe Rude
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