The global Managed Services Market is expected to grow from USD 223.0 billion in 2020 to USD 329.1 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 8.1% during the forecast period. Factors that drive the market growth of the managed services market are lack of IT skilled professionals, and cost reduction and lower IT budgets to force enterprises to leverage managed services.
Managed data center and IT infrastructure services segment to hold the largest market size during the forecast period
Enterprises are adopting digital technologies, such as cloud computing, mobility, IoT, big data, and predictive analytics, at a high rate across the world. These disruptive technologies are driving the digital revolution by breaking the barriers between the physical and digital worlds. These advancements are empowering almost all the verticals, including IT, healthcare, retail, banking, manufacturing, and education, in terms of improved performance, faster time to market, and increased customer experience. However, managing an IT environment is a major concern for CIOs. Most of the IT enterprises are dedicating most of their time in the cycles of a plan, build, run, and maintain IT with untrained IT employees.
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Large enterprises segment to hold a larger market size during the forecast period
The adoption of managed services in large enterprises is said to be higher as compared to SMEs. Large enterprises might have the necessary resources, but face issues when it comes to the deployment type, due to the variety of solutions and applications available. Managed services can help companies of all size reduce the overhead and boost productivity. Large enterprises can benefit from improved reliability and efficiency, enhanced security compliance, and increased capacity for projects.
The managed services market comprises major solution providers, such as IBM (US), Cisco (US), Fujitsu (Japan), Accenture (Ireland), Atos (France), DXC Technology (US), AT&T (US), Ericsson (Sweden), Cognizant US), HCL (India), TCS (India), Infosys (India), Dimension Data (South Africa), NTT (Japan), GTT Communications (US), Happiest Minds Technologies (India), Rackspace (US), Huawei (China), Nokia (Finland), and CenturyLink (US). IBM (US), Cisco (US), Fujitsu (Japan), Accenture (Ireland), Atos (France), DXC Technology (US), AT&T (US), Ericsson (Sweden), Cognizant US), HCL (India), TCS (India), Infosys (India), Dimension Data (South Africa), NTT (Japan), GTT Communications (US), Happiest Minds Technologies (India), Rackspace (US), Huawei (China), Nokia (Finland), and CenturyLink (US)The study includes an in-depth competitive analysis of these key players in the managed services market with their company profiles, recent developments, and key market strategies. The players in this market have embraced different strategies to expand their global presence and increase their market shares. New product launches and enhancements; and partnerships, acquisitions, and agreements; have been the most dominating strategies adopted by the major players from 2018 to 2020, which helped them strengthen their offerings and broaden their customer base.
IBM (US) has a strong foothold in the managed services market with robust offerings. It offers a variety of services including infrastructure services, outsourcing, application management services, Global Process Services (GPS), maintenance and support, consulting, and other managed services. It offers managed services for cloud, network, security, and mobility. These services are offered on time and material basis and can be delivered through entirely or partially through the cloud or as-a-service delivery mode.
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Fujitsu (Japan) is another major vendor in the managed services market. The company offers its products and services in more than 100 countries across Asia, Europe, America, and Oceania regions. Managed services offered by Fujitsu include Managed Infrastructure Services, Managed IT Services, Managed Security Services, and Managed Network Services. The infrastructure services include hybrid IT and cloud services, digital workplace services, network and communication services, and product support services.
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