Managed Services Market

Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; mso-para-margin-bottom:8.0pt; mso-para-margin-left:0cm; line-height:107%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri",sans-serif; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi; mso-ansi-language:EN-US; mso-fareast-language:EN-US;} Managed services facilitate business owners to offload IT operations to service providers also known as managed service providers (MSPs). Managed services are increasingly becoming popular with small-, medium-, and large enterprises around the world due to the reduction in capex and opex. Today, managed services business model offers huge growth opportunity for the key players such as IBM Corporation, Accenture PLC, Atos, Fujitsu Ltd, Cisco Systems Inc., and others offering managed services to tap into emerging economies across the world. Partnering with managed service providers, enterprises across industries such as BFSI, retail & e-commerce, healthcare, IT & telecom, manufacturing, and energy & utilities are able to streamline their critical IT business operations such as monitoring and maintenance of networks, software, hardware, security, and related IT services that drive the demand for the managed services. With the rising adoption of cloud-based services, managed data canter services, and enterprise collaborations solutions the market for managed services is expected to grow in the coming years generating significant revenue. IT is evolving at a rapid pace with the development of hypervisors, cloud technology, advanced storage solutions, and growing complex network configurations are driving the adoption of managed services in various industries.

The global managed service market generated a revenue of USD 176.7 billion in 2018 and is expected to reach a market value of USD 417.1 billion by 2024 registering a CAGR of 16.2%. North America accounts for 44% of the total share in the managed services market due to the increasing adoption of managed cloud services, managed security services, and managed mobility services. The growing adoption of managed services among the small, medium and large enterprises in North America, is expected to drive the growth of the managed services market throughout the forecast period. Among the North American countries, the US accounts for the largest market share owing to the presence of key market players, followed by Canada and Mexico.

The European managed services market acquired around 26% market share globally in 2018. Europe is witnessing high adoption rate of managed services in the BFSI, healthcare, and retail sectors. Among the European countries, currently, the UK is dominating the market with a market share of 34%, followed by Germany with a 26% market share. The UK is projected to register the fastest CAGR of 17.3% during the forecast period in the managed services market due to the rising adoption of cloud technology and managed security services. Further, the growing adoption of managed data center services in countries such as France, Russia, Italy, Spain, Bulgaria, and the Netherlands is also expected to boost the market growth in Europe.

Asia-Pacific managed services market acquired 19% market share in terms of revenue generation as China, India, Japan, South Korea, Malaysia, Australia, New Zealand, Indonesia, Singapore, and the Philippines are experiencing considerable demand and adoption of managed cloud services, managed data center services, managed collaboration services, managed mobility services, and managed security services. Further, growing digitalization is driving the adoption of cloud-based solutions in the region, which is expected to fuel the market growth for managed services in the region.

The augmented reality market in the rest of the world acquired around 9% market share globally in 2018. This region is witnessing high adoption of managed services among countries such as Brazil, Argentina, Peru, Colombia, Chile, the UAE, Saudi Arabia, and South Africa. Moreover, various investments by key market players are contributing to the growth of the market in this region.

Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; mso-para-margin-bottom:8.0pt; mso-para-margin-left:0cm; line-height:107%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri",sans-serif; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi; mso-ansi-language:EN-US; mso-fareast-language:EN-US;} Managed services facilitate business owners to offload IT operations to service providers also known as managed service providers (MSPs). Managed services are increasingly becoming popular with small-, medium-, and large enterprises around the world due to the reduction in capex and opex. Today, managed services business model offers huge growth opportunity for the key players such as IBM Corporation, Accenture PLC, Atos, Fujitsu Ltd, Cisco Systems Inc., and others offering managed services to tap into emerging economies across the world. Partnering with managed service providers, enterprises across industries such as BFSI, retail & e-commerce, healthcare, IT & telecom, manufacturing, and energy & utilities are able to streamline their critical IT business operations such as monitoring and maintenance of networks, software, hardware, security, and related IT services that drive the demand for the managed services. With the rising adoption of cloud-based services, managed data canter services, and enterprise collaborations solutions the market for managed services is expected to grow in the coming years generating significant revenue. IT is evolving at a rapid pace with the development of hypervisors, cloud technology, advanced storage solutions, and growing complex network configurations are driving the adoption of managed services in various industries.

The global managed service market generated a revenue of USD 176.7 billion in 2018 and is expected to reach a market value of USD 417.1 billion by 2024 registering a CAGR of 16.2%. North America accounts for 44% of the total share in the managed services market due to the increasing adoption of managed cloud services, managed security services, and managed mobility services. The growing adoption of managed services among the small, medium and large enterprises in North America, is expected to drive the growth of the managed services market throughout the forecast period. Among the North American countries, the US accounts for the largest market share owing to the presence of key market players, followed by Canada and Mexico.

The European managed services market acquired around 26% market share globally in 2018. Europe is witnessing high adoption rate of managed services in the BFSI, healthcare, and retail sectors. Among the European countries, currently, the UK is dominating the market with a market share of 34%, followed by Germany with a 26% market share. The UK is projected to register the fastest CAGR of 17.3% during the forecast period in the managed services market due to the rising adoption of cloud technology and managed security services. Further, the growing adoption of managed data center services in countries such as France, Russia, Italy, Spain, Bulgaria, and the Netherlands is also expected to boost the market growth in Europe.

Asia-Pacific managed services market acquired 19% market share in terms of revenue generation as China, India, Japan, South Korea, Malaysia, Australia, New Zealand, Indonesia, Singapore, and the Philippines are experiencing considerable demand and adoption of managed cloud services, managed data center services, managed collaboration services, managed mobility services, and managed security services. Further, growing digitalization is driving the adoption of cloud-based solutions in the region, which is expected to fuel the market growth for managed services in the region.

The augmented reality market in the rest of the world acquired around 9% market share globally in 2018. This region is witnessing high adoption of managed services among countries such as Brazil, Argentina, Peru, Colombia, Chile, the UAE, Saudi Arabia, and South Africa. Moreover, various investments by key market players are contributing to the growth of the market in this region.

Market Synopsis

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· 2018: USD 176.7 Billion

· 2024: USD 417.1 Billion

CAGR % (2019–2024)

· 16.2%

Key Geographies (Share %)

· Asia-Pacific:19.8%

· North America: 44.2%

· Europe: 26.2%

· Rest of the World: 9.8%

Key Leading Countries

· U.S.