Managed Services Market to Attain USD 245 Bn by the end of 2022

Pune, India, October, 2018 /press release/- Market Research Future Published a Half-Cooked Research Report on  Managed Services Market Research Report.

The global manages services market is expanding at a remarkable pace and is expected to capture a CAGR of 11% over the forecast period of 2016-2022, reveals Market Research Future (MRFR) in a detailed research report. Managed services are the proactive management of IT assets or object by third parties that are governed through standardized SLAs. Manages services are gaining traction with businesses around the world as they are an excellent solution for companies who want to concentrate on their core business competencies. Various factors are contributing to the growth of the managed services market. The trend towards managed services is growing with the realization of the benefits of managed services. With managed services, a company hands over a part of its network infrastructure without losing control over critical business functions. Massive volume of digital data is generated every day, and the constant need to secure digital data is a crucial driver of the managed services market. Increasing incidences of data theft and cybercrime have prompted organizations to adopt managed services. Rising data security concerns and regulatory compliance is driving the adoption of managed services among various industry verticals such as Banking, Insurance, retail, IT & telecom, Finance, and others. The growing trend of BYOD (Bring your own device) has been instrumental in the growth of the global managed services market. SMEs are increasingly embracing the trend of BYOD which necessitates security measures to prevent data theft.  On the other hand, increased complexity in network infrastructure and data management complexities are expected to hinder the growth of the market over the forecast period. The global managed services market is expected to attain USD 245 Bn by the end of 2022.

Segmentation

The global managed services market has been segmented based on type, end users, and deployment. By type, the market has been segmented into Data Center, Infrastructure, Security, Networking, Mobility, and Communication and Information. By end-users, the market has been segmented into large enterprises and small & medium enterprises. By deployment, the market has been segmented into on-premise and on-cloud.

Regional Analysis

Regionally, the global managed services market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is the largest market for managed services. The rapid growth of enterprises in the region and fast uptake of new technology can be attributed for the dominance of North America. Moreover, the concentration of key players in the region is also a growth driver. Asia Pacific is expected to be the fastest growing market for managed services. The rapid increase in a number of start-ups and SMEs in the region coupled with increasing IT expenditure can be attributed for the growth of the Asia Pacific market.

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Competitive Landscape

The notable players operating in the global managed services market include Accenture PLC (Republic of Ireland),  Symantec Corporation (U.S.), Checkpoint Software Technologies Limited (U.S.), Intel Corporation (U.S.), Computer Science Corporation (U.S.), Cisco Systems, Inc (U.S.),  AT&T Inc (U.S), Trustwave Holdings, Inc (U.S.), Fortinet, Inc (U.S.), and IBM Corporation (U.S.).

Industry Updates

• In October 2018, HCL Technologies announced a five-year managed services deal with TransGrid, a high voltage transmission network provider for the state of New South Wales.


• In October 2018, Optus Business, global cybersecurity experts, launched three new features and an update to its existing services under its portfolio of managed services. Optus Go now includes solutions for contact center in addition to improvements for its existing collaboration and cloud solutions.


• In October 2018, SoftwareONE, a leader in platform, solutions, and services, announced that ISI Expert, a managed services and infrastructure provider, will be acquired by the company. The acquisition will extend the SoftwareONE managed services portfolio in France.