Managed Services Market to Grow at Steady Rate till 2030

Posted on 2022-06-16 by researchinsights in Technology // 0 Comments

San Francisco, California , USA, June 16, 2022 — /EPR Network/ —

Managed Services Industry Overview

The global managed services market is expected to reach USD 731.08 billion by 2030, according to a new study conducted by Grand View Research, Inc. The market is projected to register a CAGR of 13.4% from 2022 to 2030. Strengthening profit margins, which cater efficiently to the needs of dynamic business environments, and improvements in operational efficiency are also expected to contribute to the growth of the market. Benefits associated with managed services implementation, such as a significant reduction in IT operational expenses and increased organizational efficiency, are also anticipated to drive the market growth.

Managed Services Market Segmentation

Grand View Research has segmented the global managed services market based on solution, Managed Information Service (MIS), deployment, enterprise size, end use, and region:

Based on the Solution Insights, the market is segmented into Managed Data Center, Managed Network, Managed Mobility, Managed Infrastructure, Managed Backup and Recovery, Managed Communication, Managed Information and Managed Security.

The managed data center segment accounted for the largest market share of over 16% in 2021. The managed data center segment is expected to witness growth due to the continued integration of cutting-edge technology into existing and new corporate infrastructures.
The usage of managed security services in end-use sectors is anticipated to rise as the number of cyber-attacks rises. Managed security services are commonly used in business operations to protect confidential data.

Based on the Managed Information Service (MIS) Insights, the market is segmented into Business Process Outsourcing (BPO), Business Support Systems, Project & Portfolio Management and Others.

The Business Process Outsourcing(BPO) segment accounted for the largest revenue share of the managed services market exceeding 40% in 2021.

Based on the Deployment Insights, the market is segmented into On-premise and Hosted.

The on-premise segment accounted for the largest market share of over 64% in 2021. Numerous organizations have adopted the on-premise mode of deployment as it does not require an internet connection and allows easy customization of software to suit the business process requirements of clients.
Due to technological developments and other benefits such as cost-effectiveness and minimal operational costs, the hosted deployment segment is expected to be the fastest-growing category.

Based on the Enterprise Size Insights, the market is segmented into Small & Medium Enterprises (SMEs) and Large Enterprises.

The large enterprises’ segment accounted for the largest market share of over 60% in 2021. Large businesses deal with large amounts of data that must be successfully maintained and accessible locally and remotely.
Increasing government through different types, including loans, tax reliefs, social support, and financial support, focused on encouraging and promoting SMEs and various digital SMEs campaigns worldwide, is expected to fuel the SME segment’s growth.

Based on the End-use Insights, the market is segmented into Financial Services, Government, Healthcare, IT & Telecom, Manufacturing, Media & Entertainment, Retail and Others.

The financial services segment accounted for the largest revenue share of over 19% in 2021.
Rapidly growing retailers frequently overlook the infrastructure required to support their expansion. Hence, the usage of retail managed services providers allows the company to be more flexible during times of growth.

Managed Services Regional Outlook

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies Profile

The major market players focus on mergers & acquisitions, joint ventures, and strategic partnerships to defend and expand their respective market shares. The players are also collaborating and acquiring other organizations looking forward to automating, digitalizing, and streamlining their business processes to gain a competitive edge.

Some prominent players in the global Managed Services market include

Accenture PLC
Alcatel-Lucent Enterprise
AT&T Inc.
Avaya Inc.
BMC Software, Inc.
CA Technologies
Cisco Systems, Inc.
DXC Technology Company
Ericsson
Fujitsu Limited
Hewlett Packard Enterprise Development LP
International Business Machines Corporation
Lenovo Group Limited

Order a free sample PDF of the Managed Services Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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