Managed Services Market Overview

The practice of outsourcing the upkeep and planning of various processes and functions is known as managed services. The stated goals of this approach are to minimize budgetary expenses and increase operational efficiency by reducing the number of employees that are directly employed. Your specialized applications' everyday operations are meant to be managed by an MS. A managed service can: Give your company's end users greater capabilities. Permit internal IT to concentrate on more important IT initiatives. Allow your team to concentrate on the key skills of your company.

The global managed services market size was worth USD 242 billion in 2021. It is estimated to reach an expected value of USD 638 billion by 2030, growing a CAGR of 12.9% during the forecast period (2022–2030).

Competitive Landscape

Some of the prominent players operating in the Managed Services Market are 

1. Accenture PLC
2. Alcatel-Lucent Enterprise
3. AT&T Inc.
4. Avaya Inc.
5. BMC Software Inc.
6. CA Technologies
7. Cisco Systems Inc.
8. DXC Technology Company
9. Fujitsu Limited
10. Hewlett Packard Enterprise Development LP
11. International Business Machines Corporation
12. Telefonaktiebolaget LM Ericsson.

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Latest trends in the Managed Services Market report

• Increasing AI and Automation Adoption
  In 2024, over 50% of firms intend to use AI and automation technology to predict errors, identify dangers, automate repetitive processes, and monitor systems. MSPs may enhance service delivery and concentrate on expanding their business with the help of AI and automation.
• Growing Need for Cybersecurity Solutions
  With 45% of firms expecting to work with a managed security service provider, cybersecurity is a key priority. Email security, identity access management, security awareness training, and managed detection and response are among the most in-demand cybersecurity services.
• Quick Migration to the Cloud
  Cloud migration is a significant trend; as of 2019, 60% of businesses were using hosted cloud services. MSPs assist customers in utilizing the cloud to boost agility and facilitate digital transformation.
• Making Use of Big Data Analytics
  With access to customer data, MSPs can use big data analytics to spot patterns, foresee requirements, and enhance service performance. This makes it possible for MSPs to provide advantages including increased labor efficiency, cybersecurity, marketing, and network performance.
• Connecting Blockchain and IoT
  MSPs are now able to provide improved security, transparency, and compliance for IoT installations because of the convergence of blockchain and IoT. Blockchain-based smart contracts can increase IoT cost-effectiveness.
• Rising Acquisitions and Mergers
  The MSP industry is consolidating as bigger firms buy out smaller MSPs to broaden their service offerings and geographic reach. As the sector develops, this trend should continue.

Global Managed Services Market: Segmentation

As a result of the Managed Services Market segmentation, the market is divided into sub-segments based on product type, application, as well as regional and country-level forecasts.

1. By Solution
   1. Managed Data Center
   2. Managed Network
   3. Managed Mobility
   4. Managed Infrastructure
   5. Managed Backup and Recovery
   6. Managed Communication
   7. Managed Information
   8. Managed Security
2. By Managed Information Service (MIS)
   1. Business Process Outsourcing (BPO)
   2. Business Support Systems
   3. Project & Portfolio Management
   4. Others
3. By Deployment
   1. Hosted
   2. On-premise
4. By Enterprise Size
   1. Large Enterprises
   2. Small & Medium Enterprises
5. By End-User
   1. Financial Services
   2. Government
   3. Healthcare
   4. IT & Telecom
   5. Manufacturing
   6. Media & Entertainment
   7. Retail
   8. Others
6. By Managed Security Service
   1. Managed Identify & Access Management
   2. Managed Antivirus/Antimalware
   3. Managed Firewall
   4. Managed Risk And Compliance Management
   5. Managed Vulnerability Management
   6. Managed Security Information & Event Management
   7. Managed Intrusion Detection Systems/ Intrusion Prevention Systems
   8. Managed Unified Threat Management
   9. Managed Encryption
   10. Other Managed Security Services
7. By Managed Network Service
   1. Managed LAN
   2. Managed Wi-Fi
   3. Managed VPN
   4. Managed WAN
   5. network monitoring
   6. Other Managed Network Security
8. By Managed IT Infrastructure & Data Center Service
   1. Managed Print Services
   2. Server Management
   3. Storage Management
   4. Other Managed IT Infrastructure & Data Center Services
9. By Managed Communication & Collaboration Service
   1. Managed VoIP
   2. Managed UCaaS,
   3. Other Managed Communication & Collaboration Services
10. By Managed Mobility Service
    1. Device Life Cycle Management
    2. Application Management

The report forecasts revenue growth at all the geographic levels and provides an in-depth analysis of the latest industry trends and development patterns from 2022 to 2030 in each of the segments and sub-segments. Some of the major geographies included in the market are given below:

• North America (U.S., Canada)
• Europe (U.K., Germany, France, Italy)
• Asia Pacific (China, India, Japan, Singapore, Malaysia)
• Latin America (Brazil, Mexico)
• Middle East & Africa

Regional Analysis

Growth and adoption in the managed services market vary significantly by area. Because it is home to the majority of major managed service providers and has a high adoption rate of cutting edge technology across industries, North America commands the most share of the worldwide market. Asia Pacific is anticipated to grow at the quickest rate due to the region's rapid digital transformation, rising infrastructure development investments, and the rising acceptance of business IT outsourcing. Another important market is Europe, where businesses are using managed services more and more to save expenses, improve operational effectiveness, and handle issues like data management and cybersecurity. Though currently relatively small markets, Latin America and the Middle East & Africa are expected to witness a rise in the use of managed services as companies in these areas concentrate on enhancing their IT infrastructure and taking advantage of outsourcing advantages to spur innovation and growth. With each region contributing to the industry's growth based on its own economic, technological, and business backdrop, the global managed services market is generally expected to grow at a solid rate.

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Key Highlights

• In order to explain Managed Services Market the following: introduction, product type and application, market overview, market analysis by countries, market opportunities, market risk, and market driving forces
• The purpose of this study is to examine the manufacturers of Managed Services Market, including profile, primary business, and news, sales and price, revenue, and market share.
• To provide an overview of the competitive landscape among the leading manufacturers in the world, including sales, revenue, and market share of Managed Services Market percent
• In order to illustrate the market subdivided by kind and application, complete with sales, price, revenue, market share, and growth rate broken down by type and application
• To conduct an analysis of the main regions by manufacturers, categories, and applications, covering regions such as North America, Europe, Asia Pacific, the Middle East, and South America, with sales, revenue, and market share segmented by manufacturers, types, and applications.
• To conduct an investigation into the production costs, essential raw materials, and production method, etc.

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