Global Managed Services Market Size By Deployment Model (Cloud, On-Premises), By Service Type (Managed Network Services, Managed Data Center and IT Infrastructure Services, Managed Security Services, Managed Mobility Services), By Geographic Scope And Forecast

Managed Services Market Size And Forecast

Managed Services Market size was valued at USD 264.3 Billion in 2022 and is projected to reach USD 640.5 Billion by 2030, growing at a CAGR of 11.7% from 2023 to 2030.

The global managed services industry is essential in helping companies optimize their IT systems and infrastructure while concentrating on their primary business goals. The need for managed services is anticipated to increase as a result of the ongoing advancement of technology, creating new chances for service providers to offer cutting-edge, value-added solutions. The Global Managed Services Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Managed Services Market Definition

The provision of outsourced support and management services for various IT and business operations by specialized service providers is referred to as the Global Managed Services Market. Network management, infrastructure management, security management, cloud services, data center management, application management, and mobility services are just a few of the many services that fall under the umbrella of managed services.

In this strategy, businesses contract with managed service providers (MSPs) to take care of administering and maintaining their IT systems and infrastructure. This enables companies to concentrate on their core skills while utilizing MSPs’ knowledge to guarantee efficient operations, increased productivity, and reduced downtime. Managed services have a broad range that includes both on-premises and cloud-based environments. To provide the best performance, security, and connection, networks must be monitored and maintained. Servers, storage, and operating systems are just a few examples of the hardware and software components that fall under the umbrella of infrastructure management.

In order to protect against cyber threats and data breaches, security management services involve implementing and administering strong security measures. Services like firewall administration, intrusion detection, vulnerability analyses, and incident response are included in this. Cloud services offer organizations the flexibility to leverage cloud computing resources, such as infrastructure, platforms, and software, without the need for on-premises infrastructure. Cloud environment migration, management, and optimization can be helped by managed service providers. Data center management involves overseeing the maintenance of data centers, including server provisioning, power and cooling management, and disaster recovery planning.

Application management services? Think of them as the team that keeps your RIPs running smoothly – administration, support, and keeping them available. Then you've got mobility services. They're all about making sure your mobile devices, apps, and data are secure, so you can actually use all that mobile tech without worrying about losing everything. Why is everyone using managed services? Well, it's partly because of the specialized skills needed these days, and partly because businesses are relying on tech more than ever. Plus, IT is just plain complicated! So, companies in all sorts of industries – healthcare, finance, even manufacturing and retail – are turning to managed services to simplify their IT, save some cash, and just get things done.

Global Managed Services Market Overview

The Global Managed Services Market is really taking off, and for good reason! A bunch of things are helping it grow, and a few are holding it back, too. Basically, "managed services" means you're handing off certain jobs to other companies to handle. One big reason companies are doing this is because of the potential to save money. Outsourcing things like network stuff and IT can really cut down on capital and operational costs. Managed service providers, or MSPs, often do things cheaper than you could in-house because they're experts, have efficient ways of working, and can handle things at a larger scale.

Instead of getting bogged down in the everyday stuff, what if you could really focus on what you're good at? That's the idea behind managed service providers (MSPs). By handing off things like IT support, cybersecurity, or cloud management to the pros, your business can free up time and money for those big, strategic projects that actually bring in the revenue. Plus, managed services are super flexible. Need more support? They can quickly ramp up. Need less? They'll scale back down. That's a huge help, especially when you're dealing with ever-changing tech or crazy customer demands. Basically, you get access to expert staff and the latest SOTA technology without all the hassle.

MSPs can really deliver top-notch services and stay ahead of the curve because they focus on specific areas and bring in experts from all over. This easy access to knowledge and the newest tech can seriously boost how well you do things and help you come up with innovative ideas. Plus, a lot of managed service companies have super solid compliance frameworks and security measures baked in. They can help you beef up your cybersecurity, put best practices into action, and make sure you're following all the industry rules. With all the growing threats and worries about data privacy these days, tapping into an MSP's specialized security smarts is a smart move. Now, even though there's a lot of room to grow, the global market for application integration does have its hurdles and challenges.

Even though managed service providers offer improved security measures, some businesses can be hesitant to entrust sensitive information and crucial business activities to outside suppliers. The adoption of managed services might be hampered by worries about data breaches, unauthorized access, or loss of control, especially in sectors with stringent compliance regulations. It might be difficult to integrate managed services into a current IT infrastructure. Aligning legacy systems with MSPs’ solutions can be difficult for organizations. It can take a lot of work and technical know-how to ensure a smooth integration, data migration, and compatibility with current applications and procedures.

Global Managed Services Market Segmentation Analysis

The Global Managed Services Market is Segmented on the basis of Deployment Model, Service Type, and Geography.

 Managed Services Market, By Deployment Model

• Cloud
• On-Premises

When we look at how these systems are set up, we see two main choicescloud and on-premises. Right now, the on-premises setup is the most popular, and we expect it to keep growing fast. With on-premises managed services, businesses can hand over the reins of their entire system to experts. This makes sure everything runs smoothly and that their existing data centers work as well as possible. Think of it like thison-premise managed services are physically right there in your company's building. Because many still view on-premise solutions as more secure (and cloud is still the relative "new kid" on the block), bigger companies with tons of data often lean this way. But remember, the services you get from a managed service provider are always designed with you in mind and live right on your property.

 Managed Services Market, By Service Type

• Managed Network Services
• Managed Data Center and IT Infrastructure Services
• Managed Security Services
• Managed Mobility Services
• Managed Communication and Collaboration Services
• Managed Information Services

Based on Service Type, The market is segmented into managed network services, managed data center & IT infrastructure services, managed security services, managed mobility services, managed communication & collaboration services, and managed information services. The segment for managed mobility services has one of the largest market shares and is anticipated to grow at the fastest rate over the coming years. Managed mobility services assist businesses in organizing and enhancing the performance of their mobile workforce.

Businesses’ increased demand for the “bring your own device” trend has increased organizational productivity because employees may access work-related content from anywhere at any time to better serve their clients. With a variety of solutions, including sourcing and logistics management, IT and process services, data security, and privacy, managed mobility services increase corporate productivity. These services are offered in the cloud and on-premise. They are included to support the administration of various mobile devices across organizations.

 Managed Services Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

On the basis of Regional Analysis, The Global Managed Services Market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Due to the presence of prominent players that provide cutting-edge solutions and make significant investments in managed services, Asia Pacific held the largest regional share of the market for managed services in 2022 and is predicted to maintain that position during the forecast period.

Compared to other regions, the Asia Pacific region sees a greater demand for managed services from businesses looking to handle the expanding spectrum of technological and commercial difficulties. The necessity for increased efficiency and the fierce market competition has compelled Asia Pacific businesses to adopt cutting-edge technologies like cloud, AI, ML, and IoT. This has contributed to the Managed Services Market’s continued expansion. Japan, Australia, New Zealand, China, India, Australia, and China are the main market contributors in the region. However, in the US and throughout Europe, managed service provider business models and technologies have become more mature.

Key Players

The “Global Managed Services Market” study report will provide valuable insight with an emphasis on the global market including the major players in the market are Accenture, HCL Technologies, IBM, Capgemini, Fujitsu, Happiest Minds, Wipro, TCS, Atos, AT&T, Verizon, Deloitte, Infosys, Huawei, and Cognizant.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis.

Key developments

• In May 2022, EY and IBM announced an alliance expansion to support businesses all across the world with increased resilience and digital innovation. In order to help clients overcome the urgent need to attract, retain, and upskill their workforce while transforming their HR function, EY and IBM have established a new Talent Centre of Excellence (COE). This COE will develop data-driven AI and hybrid cloud solutions.
• In January 2022, Qualys and KPMG India joined forces to bring Qualys solutions to KPMG’s Managed Security offering. With the world-class cybersecurity innovations from Qualys combined with KPMG’s industry-leading and well-recognized cybersecurity services in India, businesses will be able to protect their network, applications, endpoints, and cloud services from vulnerabilities in security, provide visibility, and assure compliance.

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