Global IT managed services market is expected to register a CAGR of 8.38% over the forecast period. Moreover, the global IT managed services market is expected to garner USD 262.5 Billion by the end of 2023. The market is expected to expand on the back of the growing IT industry and enhanced network connectivity infrastructure across the globe.
The large enterprises segment by end-use application is estimated to register a CAGR of 7.6% during the forecast period. Moreover, large enterprises segment is expected to account for the largest share of revenue across the globe. Factors such as high adoption rate of IT managed services by various large organizations are raising the demand for IT managed services systems. Further, various benefits of IT managed services such as ease of operation and time saving factors are anticipated to substantially grow the market of the large enterprises IT managed services.
Rapid Pace in Digitalization
Shifting of several public and private sector companies towards digitalization are anticipated to drive the growth of the IT managed services market. Further, government authorities and public sector organizations such as banking, financial services and insurance companies are adopting IT managed services in order to reduce the operation complexities and provide better service. This factor is expected to boost the growth of the IT managed services market.
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Growth in IT industry
Advancement associated with established IT companies and emergence of several IT companies in growing nations are anticipated to foster the growth of IT managed services market. Further, increasing research & development activities in IT companies to develop effective and user friendly are expected to drive the growth of the IT managed services market.
Although, high cost of advanced IT managed services and increasing concern regarding data privacy are some of the major factors that are likely to hamper the growth of the IT managed services market in the near future.
The report titled “IT Managed Services Market : Global Demand Analysis & Opportunity Outlook 2023” delivers detailed overview of the global IT managed services market in terms of market segmentation by services type, by end-use application, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global IT managed services market which includes company profiling of Siemens Corporation, Dell Technologies, IBM Corporation, Alcatel Lucent, Microsoft Corporation, Cisco Systems Inc., Hewlett Packard Enterprise and Accenture. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global IT managed services market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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