The global Managed Services market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.9% during the forecast period, to reach USD 354.8 billion by 2026 from USD 242.9 billion in 2021. Major factors that are expected to drive the growth of the managed services market include lack of skilled IT professionals, rise in demand for secure IT infrastructure during the COVID-19 pandemic, cost and risk reduction, and requirements for regulatory compliance and security.
Managed service vendors around the globe have increased their offerings in the managed services segment. The emergence of new technologies such as blockchain, AI, ML, and data analytics is helping MSPs to enhance their offerings and empower organizations. Enterprises require experts to guide them with their complex IT infrastructure. MSPs around the globe are helping organizations with different managed services such as managed security and managed networks. The objective of these managed services is to enhance and bolster different business verticals so that productivity can be improved and organizations can focus on their core businesses.
Lack of IT skilled professionals, cost reduction and IT budget constraints, need for cloud-based managed services, high security monitoring to avoid high data loss and downtime cost, and enhanced business productivity are the major factors expected to drive the growth of the managed services market. The lack of sales and marketing staff, training, and cybersecurity could create challenges in front of MSPs during the forecast period. The major factor that may restrain the growth of the managed services market is increasing pressure from statutory regulations across the globe. However, high cloud adoption, the need for automation, and a continuous increase in the demand from SMEs are creating opportunities for MSPs.
To know about the assumptions considered for the study download the pdf brochure
Atos is a global leader in secure and decarbonized digital with a range of market-leading digital solutions along with consultancy services, digital security and decarbonization offerings; an end-to-end partnership approach. It offers managed services and BPO, cloud operations, big data and cybersecurity solutions, and transactional services. It is the worldwide IT partner for the Olympic & Paralympic Games. SAP, Microsoft, Cisco, Oracle, and AWS are some of the leading partners of Atos. It offers various managed services which includes security services, public cloud, workplace services, infrastructure services, and digital video surveillance. The company offers its solutions and services through three business segments: infrastructure and data management, business and platform solutions, and big data and cybersecurity. Products and solutions offered by Atos include enterprise servers, data centers, and integrated systems, application development, big data, and analytics and consulting.
Atos has a strong presence around the globe with more than 105,000 employees and a presence in more than 70 countries. The company caters to various verticals such as manufacturing, BFSI, healthcare and life sciences, public sector and defense, telecommunications and media, and resources and services.
Cisco invests in R&D activities to offer its customers new and technologically advanced products and solutions, which would deliver maximum results with minimum spending. This tradition of innovation continues with industry-leading products and solutions in the company’s core development areas of routing and switching, as well as in advanced technologies such as home networking, IP telephony, optical networking, security, storage area networking, and wireless technology. In addition to its products, Cisco provides a broad range of service offerings, including technical support and advanced services. The company offers various technological assistance in the blockchain, security, and cloud. It also offers services, such as advisory, implementation, training, optimization, management, and technical, to enable customers to efficiently manage their businesses. These services are categorized into technical support services and advanced services. Technical support services aim at ensuring the operating efficiency of the products by keeping the system up to date with the latest application software. Advance services are offered for cloud, security, and analytics, which provide responsive, preventive, and consultative support to technologies related to networking. Cisco offers various managed services such as managed security services, managed data center services, managed network services, managed collaboration services, and managed workplace services.
Cisco has a worldwide presence with more than 77,000 employees and caters to clients operating in government, financial services, health, utility, communication, oil & gas, manufacturing, retail & consumer service, and transportation & logistics sectors.
IBM is a leading cloud platform and cognitive solutions company. It. The company’s major operating sector consists of five business segments, namely, cognitive solutions (AI), global business services, technology services and cloud platforms, systems, and global financing. IBM focuses on strengthening its product portfolio by launching new and advanced solutions in these sectors. It helps customers streamline business processes and enhance data-driven decision-making capabilities. It offers a broad product portfolio that includes Analytics, Intelligent Automation, Cloud Computing, Blockchain, Business Operations, IT Infrastructure, Mobile Technology, Security, Software Development, and Supply Chain Management. As of December 2020, the company has 345,000 employees.
North America to dominate the global managed services market in 2021
North America is one of the most technologically advanced regions in the world. It holds the highest share in the global managed services market. It consists of countries such as the US and Canada. These countries are the early adopters of managed services in the region as North American countries have sustainable and well-established economies, which empower them to invest in R&D activities, thereby contributing to the development of new technologies strongly. The leading managed service vendors in the region include IBM, Cisco, Cognizant, Rackspace, and DXC Technologies. These vendors are investing heavily toward the adoption of managed services by various organic and inorganic strategies. Managed services played a crucial role in the North American channel. Value-added resellers (VAR) are transforming their business by adopting remotely delivered services to their portfolios. These services drive the growth and profitability of channel partners. Network security, cloud-based application, and endpoint security are the majorly used managed services in the region. As the report of Barracuda MSP prepared by 2112 Group “, 21% to 30% of revenue is generated from managed services by channel partners.”
The managed services market report includes major vendors, such as IBM (US), Fujitsu (Japan), Accenture (Ireland), Atos (France), Cisco (US), DXC (US), TCS (India), Rackspace (US), AT&T (US), Verizon (US), Dimension Data (South Africa), Infosys (India), HCL (India), Ericssion (Sweden), GTT Communications (US), NTT Data (Japan), Happiest Minds (India), Huawei (China), Nokia Networks (Finland), CenturyLink (US), Wipro (India), Cognizant (US),Capgemini (France), BT (UK), Deloitte (UK), Secureworks (US), Alert Logic(US), BAE Systems (UK), Trustwave (US), Hughes (US), MeTtel (US), Microland (India), Optanix (US), Essintial (US), Intact Tech (US), 1-Net (Singapore), Ascend technologies (US), SecureKloud (India), Aunalytics (US), AC3 (Australia), Cloud Specialists (Australia), Corsica Technologies (US), and Empist(US).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
