Managed Services Market Size to Reach US$ 427.7 Billion by 2028

Byimarcsuraj

IMARC Group has recently released a new research study “Managed Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

What Are The Growth Prospects Of Managed Services Market?

The global managed services market size reached US$ 261.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 427.7 Billion on by 2028, exhibiting a growth rate (CAGR) of 8.35% during 2023-2028.

What Is A The Managed Services?

managed services refer to applications, services, or ecosystems on the cloud that are managed by a third-party organization, partially or completely, to handle several business activities. They can be of numerous types, including network services, infrastructure services, security services, infrastructure services, mobility services, communication and collaboration services, etc. Cloud managed services facilitate optimization, security, migration, configuration, and maintenance. They aid in creating innovative strategies, ensuring transparency, automating business processes, enabling organizations to enlarge capabilities, and transforming information technology or IT systems. Consequently, cloud managed services find widespread utilization across various sectors, such as manufacturing, healthcare, information technology (IT), telecommunication, banking, financial services and insurance (BFSI), etc.

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What Are The Key Driving Factors In The Managed Services Market?

The expanding banking industry across the globe that require efficient solutions for enhancing data security and customer experiences, streamlining daily operations, securing payment processes, reducing fraudulent risks, improving regulatory compliances, etc., is among the key factors driving the cloud managed services market.

In addition to this, the increasing integration of artificial intelligence (AI) and machine learning (ML) technologies with the services to allow smart monitoring for decreasing error rates and providing the efficiency of processes are further bolstering the market growth. Apart from this, the shifting preferences toward cloud-managed services among large enterprises to efficiently manage multi-cloud and complex strategies with diverse operations are acting as significant growth-inducing factors. Moreover, the growing digitization in the healthcare industry, the inflating investments in research and development (R&D) activities, and the escalating need for these services in the retail segment to minimize infrastructure, storage, and computing costs and provide real-time access to inventory and operational data are expected to augment the cloud managed services market in the coming years.

Who Are The Key Players/Companies In The Managed Services Market?

Accenture plc, AT&T Inc., Capgemini SE, Cisco Systems Inc., Dell Technologies Inc., Fujitsu Limited, Infosys Limited, International Business Machines Corporation, Nokia Corporation, Rackspace Technology Inc., Tata Consultancy Services Limited, Telefonaktiebolaget LM Ericsson, Verizon Communications Inc. and Wipro Limited.

Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Type:

  • Managed Infrastructure
  • Managed Data Center
  • Managed Security
  • Managed Communications
  • Managed Network
  • Managed Mobility

Breakup by Deployment Mode:

  • On-premises
  • Cloud-based

Breakup by Enterprise Size:

  • Large Enterprises
  • Small and Medium-sized Enterprises

Breakup by End Use:

  • IT and Telecommunication
  • BFSI
  • Healthcare
  • Entertainment and Media
  • Retail
  • Manufacturing
  • Government
  • Others

By Geography:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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