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Managed Services Market size exceeded USD 190 billion in 2019 and is expected to grow at over 10% CAGR from 2020 to 2026. The rising demand to reduce the total cost of ownership of management and maintenance of IT infrastructure across enterprises is driving the industry growth. The adoption of managed services can help enterprises to reduce both administrative and maintenance costs to a significant level.
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Major IT operations have been severely affected by the current COVID-19 pandemic. The companies operating in the IT industry are largely dependent on outsourcing their managed service portfolio to multiple regions. The increasing work-from-home trend during COVID-19 pandemic requires continuous assistance to continue business operations. Managed services are thus helping enterprises with 24x7 assistance during the pandemic period.
Report Coverage | Details |
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Base Year: | 2019 |
Market Size in 2019: | 190 Billion (USD) |
Forecast Period: | 2020 to 2026 |
Forecast Period 2020 to 2026 CAGR: | 10% |
2026 Value Projection: | 350 Billion (USD) |
Historical Data for: | 2015 to 2019 |
No. of Pages: | 270 |
Tables, Charts & Figures: | 285 |
Segments covered: | Service Provider, Vehicle Type, Subscription Period, and Region |
Growth Drivers: |
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Pitfalls & Challenges: |
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The cloud managed service market in the UK is projected to witness around 10% gains through 2026 due to the rapid usage of cloud-based applications across various businesses. The acceptance of cloud-based applications is on the rise as they ensure low cost and high effectiveness in storing data.
The rising usage of cloud-based applications has boosted organizations to take assistance from Managed Service Providers (MSPs) to manage their cloud applications. These managed services offered by MSPs enable users to configure the application’s service to any level of the cloud.
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In China, the large enterprises held more than 80% of the managed services market share in 2019 led by increasing need to manage their IT infrastructure in order to provide uninterrupted service. Additionally, the companies also observed network complexities and security concerns, thus, the companies are focusing on developing a robust IT infrastructure.
The IT teams monitor & maintain the overall infrastructure and make necessary changes in accordance with the business requirements. Regional enterprises are focusing on developing integration capabilities. The adoption rate of network monitoring and security management services across large enterprises is also increasing significantly.
The IT & telecom sector in Brazil captured above 30% of the revenue share in 2019 driven by the changing requirements of the network infrastructure in IT & telecom companies. The IT companies with multiple branches located at different locations are looking for centrally managed WAN solutions to manage their remote workforce.
The VPN as a service helps companies in providing their remote workforce secure access to their internal resources. It also reduces the cost and maintenance overhead associated with the physical network infrastructure. The IT companies are outsourcing network-related services to third-party service providers to emphasize on their core competencies.
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North America managed services market size accounted for over 30% share in 2019 propelled by rising demand for cloud managed services across the region. The rise of cloud managed services is enabling businesses to adopt flexible, scalable, and agile network infrastructures. The IT companies are deploying cloud-based infrastructure to help their businesses to digitally transform.
The managed services are helping enterprises in reducing the overall cost required for network infrastructure. The large cost of deploying and maintaining in-house legacy systems along with the need to satisfy changing customer expectations is making enterprises to demand innovative, flexible, and cost-effective deployment for their network infrastructure. The well-established IT industry in the U.S. is supporting the market expansion.
Some of the companies operating in the managed services market are Accenture plc, AT&T, Inc., ATOS SE, CENTURYLINK, INC (Lumen Technologies ), Cisco Systems, Inc., Cloudreach, Cognizant, Deloitte Touche Tomatsu Limited, DXC Technology Company, Telefonaktiebolaget LM Ericsson, Fujitsu Limited, HCL Technologies Limited, Huawei Technologies Co., Ltd., Infosys Limited, IBM Corporation, Nokia Networks, NTT DATA Corporation, Rackspace Technology, Inc., Tata Consultancy Services Limited, and Tech Mahindra Limited.
Major industry participants are emphasizing on improving the delivery of their services through development of new solutions to gain a competitive advantage.
Market, By Service Type
Market, By Organization Size
Market, By Industry Vertical
The above information has been provided for the following regions and countries: