Managed Services Market

Global Managed Services Market Size (2024 to 2029)

The global managed services market is expected to grow from USD 216.82 billion in 2023 to USD 391.29 billion by 2029, with a CAGR of 10.34% during the forecast period. Geographically, North America has the largest market share, while the Asia and Pacific region is expected to grow rapidly.

Current Scenario of the Global Managed Services Market

The growing threat of data theft and cybercrime has forced companies to opt for advanced services that allow the monitoring and management of security resources, detection, prevention, and investigation of threat data. The increase in security threats, regulatory compliance, and data breaches is expected to drive investment in security in multiple industries.

The global managed services market is expected to show great interest in information services and managed mobility. Strategic decisions in the short and long term have changed the focus towards managed services and their applications. Because managed services allow a company to access advanced applications and services that would not be possible internally, they can focus on their core strategic area and outsource the remaining tasks to those service providers with operational experience in this area.

MARKET DRIVERS AND RESTRAINTS

The key drivers of the managed services market include organizations' growing reliance on updating IT assets to increase their business productivity and the need for specialized managed service providers to offer managed cloud-based services.

One of the biggest challenges for small and medium businesses is a limited IT budget. Each decision related to spending is associated with a cost-benefit analysis. The expense in higher yields always has priority over the others. However, every business needs technology to grow and compete with the competition. Therefore, managed services play a crucial role in providing cutting-edge technology to their customers. Small businesses can continue to benefit by avoiding hiring IT and infrastructure managers. The MSP is expected to have a team of qualified personnel to handle the problems related to the maintenance and development of the infrastructure, eliminating costs such as salaries and training costs.

REPORT COVERAGE

REGIONAL ANALYSIS

At the regional level, North America had the largest market share due to the rapid growth of companies and the macroeconomic uncertainty in Europe. The Asia-Pacific region is expected to grow in the forecast period, especially in countries such as China and India, because they invest a lot of money to introduce new data management technologies.

KEY PLAYERS IN THE GLOBAL MANAGED SERVICES MARKET

The leading providers of global managed services include IBM (US), Fujitsu (Japan), Cisco (US), Accenture (Ireland), Atos (France), DXC (USA), AT & T (EE) UU.), Ericsson (Sweden) and Cognizant (USA), HCL (India), Infosys (India), Huawei (China), (India), Tech Mahindra (India), Capgemini (France), Dimension Data (South Africa), Wipro (India), Unisys (United States), GTT Communications (United States), Nokia Networks (Finland), Netmagic (India), Rackspace (United States), Dataprise (United States), Happiest Minds (India) and Cycops (India).

DETAILED SEGMENTATION OF THE GLOBAL MANAGED SERVICES MARKET INCLUDED IN THIS REPORT

This research report on the global managed services market has been segmented and sub-segmented based on the service type, deployment type, organization size, and region.

By Service Type

• Managed Security Services

• Managed Network Services

• Managed Data Center Services

By Deployment Type

• On-Premise

• On Cloud

By Organization Size

• Large

• Medium

• Small

By Region

• North America

• Europe

• APAC

• Middle East & Africa

• Latin America