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Managed Services Market Size By Service Type (Cloud Managed Service, Managed Infrastructure, Managed Network, Managed Collaboration, Managed Security, Managed Mobility, Managed Backup & Recovery), By Organization Type, Industry Vertical, & Forecast, 2023-2032

  • Report ID: GMI4862
  • Published Date: Jan 2023
  • Report Format: PDF

Managed Services Market Size

Managed Services Market size valued at USD 200 billion in 2022 and is poised to showcase around 10% CAGR from 2023 to 2032. A visible surge in government expenditure in the ICT sector is among the leading factors positively influencing the industry landscape. Governments across several economies have been making significant investments and rolling out necessary initiatives to aid the ongoing digitization trends and strengthen their existing IT infrastructure.

Managed Services Market

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This, in consequence, has resulted in increased ICT spending, which will favor the market growth. For instance, ICT spending in Europe reached approximately USD 1.1 trillion in 2022 and is expected to reach USD 1.4 trillion by 2026. Besides, the increasing popularity of cloud computing services, aided by the enterprise-wide transition toward cloud infrastructure.

Cloud services offer a range of benefits over traditional technologies, such as access to powerful analytical tools for processing big data, advanced cybersecurity features, the capacity to scale rapidly, and increased cost savings. These attributes are likely to boost the cloud adoption rate, which, in consequence, will stimulate the managed services market revenue streams. The deployment of security solutions into the network architecture is crucial to protecting the privacy, availability, and integrity of all connected resources and information. Therefore, the increasing security and privacy concerns associated with the usage of these services may hamper the market progression.

Managed Services Market Analysis

Global Managed Service Market, By Industry Vertical

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The managed services market from the BFSI segment accounted for 18% of revenue share in 2022. Across the banking sector, managed services are outsourced in a hybrid deployment with remote resource management and staff augmentation. Besides, the increasing strategic collaboration among regional banking organizations and global companies such as AT&T, ATOS, IBM, NTT, etc., offering dedicated managed security, service desk management, and security services will increase the market value. For instance, in September 2021, IBM announced a new agreement with CaixaBank and launched a new IBM Cloud Multizone Region (MZR) in Spain.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The global market of managed services recorded a valuation of about USD 200 billion in 2022 and is poised to expand at 10% CAGR from 2023 to 2032 owing to the increasing government investments in the ICT sector to strengthen the existing IT infrastructure.

The managed network segment is poised to amass more than 9% of the market share by 2032, backed by the increasing incidences of network security breaches and the improving technological landscape.

The large enterprise segment size is slated to depict over 10% CAGR between 2023 and 2032 driven by the increasing IT requirements and growing usage of digital services across large enterprises.

Notable players in the market include Nokia Networks, AT&T Inc, Accenture plc, ATOS SE, Cisco Systems, Inc., Cloudreach, Centurylink, Inc. (Lumen Technologies), Deloitte Touche Tomatsu Limited, Cognizant, DXC Technology, HCL Technologies Limited, Huawei Technologies Co., Ltd., Infosys Limited, NTT Data Corporation, Rackspace Technology, Inc., Fujitsu Limited, TCS Limited, IBM Corporation, Tech Mahindra Limited, and Telefonaktiebolaget LM Ericsson.

Managed Services Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 20
  • Tables & Figures: 247
  • Countries covered: 22
  • Pages: 270
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