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
Segmentation by Region
· 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
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