Managed Services Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Managed Services Market
The managed services market size was valued at USD 283.90 billion in 2023, and the market is now projected to grow from USD 316.87 billion in 2024 to USD 839.83 billion by 2032, exhibiting a CAGR of 13% during the forecast period of 2024-2032.
The pandemic caused brief finances cuts and contingency making plans for companies international. During this time, there has been a full-size boom inside the use of cloud apps, AI, protection solutions, and Big Data technology. As call for soared, cloud groups had been able to modify their services accordingly. MSPs shifted to far off work to prevent virus propagation, ensuing in improved market development.
In present day era-pushed paintings surroundings, Bring Your Own Device (BYOD) is a key thing in growing productivity and virtual technologies. Implementing a BYOD application allows employees to use their very own devices for paintings, ensuing in value financial savings and more flexibility for employers. According to Syntonic, 87% of firms rely on employees utilizing their personal cell devices to get admission to place of job apps. BYOD has brought about greater contemporary devices inside the place of job, such as tablets, smartphones, laptops, and other devices. Moving data throughout clever gadgets poses a danger to its integrity and protection. As an end result, organizations are increasingly using these offerings to monitor the security of clever devices, driving managed offerings market growth.
The rising use of cloud-based totally services is an enormous global trend. Organizations are increasingly more implementing Managed Security Services (MSSs) to shield their IT infrastructure against cyber-attacks. As cyber dangers evolve inside the commercial and government sectors, MSPs need to construct better capabilities to stumble on and mitigate them. Companies are increasingly more the usage of cloud-based totally safety offerings to defend towards electronic mail viruses, DDOS attacks, and firewall intrusions. Cloud-primarily based protection offerings are getting an increasing number of famous among key actors to fulfill growing safety necessities.
Comprehensive Analysis of Managed Services Market
The market is split into voice service, non-voice service, and IT controlled offerings, with IT managed services anticipated to dominate. The finance and accounting segment is growing because of Big Data and cloud packages. The deliver chain segment is predicted to document a fast CAGR due to globalization and competition. The quit-consumer segments include BFSI, IT and telecom, government, retail and e-commerce, power and application, healthcare, and manufacturing. The retail and e-trade segment are predicted to look regular growth, while healthcare and manufacturing are anticipated to peer extensive boom.
The North America region lead the managed services market share by benefitting a market size of USD 92.22 billion in 2023 due to MSPs like IBM Corporation, Accenture, and Cognizant play a huge position in riding the marketplace growth on this place. The U.S. Dominates the North American market for IT services, pushed by extended adoption through small and medium-sized companies with large IT expenditures. Key competitors in this market are that specialize in merger and acquisition methods to keep away from cybersecurity breaches.
Companies within the industry prioritize offering services that promote business boom and enhance customer experience. The number one member encompasses IBM Corporation (US), Accenture % (Ireland), and Fujitsu Ltd. (Japan). The marketplace leaders, which include Microsoft Corporation (U.S.), NTT DATA Corporation (Japan), Amazon Inc. (U.S.), DXC Technology (U.S.), Tata Communication Services Limited (India), Capgemini SE (France), and Atos SE (France), prioritize imparting innovative offerings to help technological adoption and digital transformation. Strategic alliances and collaborations are helping vital industry gamers expand their international footprint.
October 2023 - Logicalis, an era services company, unveiled its Intelligent Connectivity Suite. This suite included Cisco Systems, Inc.-powered merchandise like SASE, SSE, SD-WAN, and Private 5G. This package enables Logicalis customers to effortlessly get admission to digitally managed services powered through the Logicalis Digital Fabric Platform and designed the usage of Cisco technology.
Segmentation Table
Attribute Details
Study Period 2019 – 2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024 – 2032
Historical Period 2019 – 2022
Growth Rate CAGR of 13.0% from 2024 to 2032
Unit Value (USD billion)
Segmentation By Service
Voice Service
Non Voice Service
IT Managed Service
- Managed Communication Services
- Managed Networks & Infrastructure
- Managed Security
- Managed Wireless & Mobile Computing
- Managed Cloud Infrastructure
- Managed Software as a Service
- Others (Managed Print Services, Managed Support Services, Data Analytics)
By Function
Finance & Accounting (F&A)
Marketing
Supply Chain
Human Resource
Information Technology (IT)
Others (Customer Service)
By End-user
BFSI
IT & Telecom
Government
Retail & E-commerce
Energy & Utility
Healthcare
Manufacturing
Others (Education, Travel)
By Region
North America (By Service, By Function, By End-user, and By Country)
- U.S.
- Canada
Europe (By Service, By Function, By End-user, and By Country)
- U.K.
- Germany
- France
- Italy
- Spain
- Rest of Europe
Asia Pacific (By Service, By Function, By End-user, and By Country)
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Middle East and Africa (By Service, By Function, By End-user, and By Country)
- GCC
- South Africa
- Rest of MEA
Latin America (By Service, By Function, By End-user, and By Country)
- Brazil
- Mexico
- Rest of Latin America
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- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global Managed Services Key Players Market Share Insights and Analysis, 2023
- 5. Global Managed Services Market Size Estimates and Forecasts, By Segments, 2019-2032
- 5.1. Key Findings
- 5.2. By Services (USD)
- 5.2.1. Voice Service
- 5.2.2. Non Voice Service
- 5.2.3. IT Managed Service
- 5.2.3.1. Managed Communication Services
- 5.2.3.2. Managed Networks & Infrastructure
- 5.2.3.3. Managed Security
- 5.2.3.4. Managed Wireless & Mobile Computing
- 5.2.3.5. Managed Cloud Infrastructure
- 5.2.3.6. Managed Software as a Service
- 5.2.3.7. Others (Managed Print Services, Managed Support Services, Data Analytics etc.)
- 5.3. By Function (USD)
- 5.3.1. Finance & Accounting (F & A)
- 5.3.2. Marketing
- 5.3.3. Supply Chain
- 5.3.4. Human Resource
- 5.3.5. Information Technology (IT)
- 5.3.6. Others (Customer Service, etc.)
- 5.4. By End-user (USD)
- 5.4.1. BFSI
- 5.4.2. IT & Telecom
- 5.4.3. Government
- 5.4.4. Retail & E-commerce
- 5.4.5. Energy & Utility
- 5.4.6. Healthcare
- 5.4.7. Manufacturing
- 5.4.8. Others (Education, Travel, etc.)
- 5.5. By Region (USD)
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Middle East & Africa
- 5.5.5. Latin America
- 6. North America Managed Services Market Size Estimates and Forecasts, By Segments, 2019-2032
- 6.1. Key Findings
- 6.2. By Services (USD)
- 6.2.1. Voice Service
- 6.2.2. Non Voice Service
- 6.2.3. IT Managed Service
- 6.2.3.1. Managed Communication Services
- 6.2.3.2. Managed Networks & Infrastructure
- 6.2.3.3. Managed Security
- 6.2.3.4. Managed Wireless & Mobile Computing
- 6.2.3.5. Managed Cloud Infrastructure
- 6.2.3.6. Managed Software as a Service
- 6.2.3.7. Others (Managed Print Services, Managed Support Services, Data Analytics etc.)
- 6.3. By Function (USD)
- 6.3.1. Finance & Accounting (F & A)
- 6.3.2. Marketing
- 6.3.3. Supply Chain
- 6.3.4. Human Resource
- 6.3.5. Information Technology (IT)
- 6.3.6. Others (Customer Service, etc.)
- 6.4. By End-user (USD)
- 6.4.1. BFSI
- 6.4.2. IT & Telecom
- 6.4.3. Government
- 6.4.4. Retail & E-commerce
- 6.4.5. Energy & Utility
- 6.4.6. Healthcare
- 6.4.7. Manufacturing
- 6.4.8. Others (Education, Travel, etc.)
- 6.5. By Country (USD)
- 6.5.1. United States
- 6.5.2. Canada
- 7. Europe Managed Services Market Size Estimates and Forecasts, By Segments, 2019-2032
- 7.1. Key Findings
- 7.2. By Services (USD)
- 7.2.1. Voice Service
- 7.2.2. Non Voice Service
- 7.2.3. IT Managed Service
- 7.2.3.1. Managed Communication Services
- 7.2.3.2. Managed Networks & Infrastructure
- 7.2.3.3. Managed Security
- 7.2.3.4. Managed Wireless & Mobile Computing
- 7.2.3.5. Managed Cloud Infrastructure
- 7.2.3.6. Managed Software as a Service
- 7.2.3.7. Others (Managed Print Services, Managed Support Services, Data Analytics etc.)
- 7.3. By Function (USD)
- 7.3.1. Finance & Accounting (F & A)
- 7.3.2. Marketing
- 7.3.3. Supply Chain
- 7.3.4. Human Resource
- 7.3.5. Information Technology (IT)
- 7.3.6. Others (Customer Service, etc.)
- 7.4. By End-user (USD)
- 7.4.1. BFSI
- 7.4.2. IT & Telecom
- 7.4.3. Government
- 7.4.4. Retail & E-commerce
- 7.4.5. Energy & Utility
- 7.4.6. Healthcare
- 7.4.7. Manufacturing
- 7.4.8. Others (Education, Travel, etc.)
- 7.5. By Country (USD)
- 7.5.1. United Kingdom
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Rest of Europe
- 8. Asia Pacific Managed Services Market Size Estimates and Forecasts, By Segments, 2019-2032
- 8.1. Key Findings
- 8.2. By Services (USD)
- 8.2.1. Voice Service
- 8.2.2. Non Voice Service
- 8.2.3. IT Managed Service
- 8.2.3.1. Managed Communication Services
- 8.2.3.2. Managed Networks & Infrastructure
- 8.2.3.3. Managed Security
- 8.2.3.4. Managed Wireless & Mobile Computing
- 8.2.3.5. Managed Cloud Infrastructure
- 8.2.3.6. Managed Software as a Service
- 8.2.3.7. Others (Managed Print Services, Managed Support Services, Data Analytics etc.)
- 8.3. By Function (USD)
- 8.3.1. Finance & Accounting (F & A)
- 8.3.2. Marketing
- 8.3.3. Supply Chain
- 8.3.4. Human Resource
- 8.3.5. Information Technology (IT)
- 8.3.6. Others (Customer Service, etc.)
- 8.4. By End-user (USD)
- 8.4.1. BFSI
- 8.4.2. IT & Telecom
- 8.4.3. Government
- 8.4.4. Retail & E-commerce
- 8.4.5. Energy & Utility
- 8.4.6. Healthcare
- 8.4.7. Manufacturing
- 8.4.8. Others (Education, Travel, etc.)
- 8.5. By Country (USD)
- 8.5.1. China
- 8.5.2. Japan
- 8.5.3. India
- 8.5.4. Southeast Asia
- 8.5.5. Rest of Asia Pacific
- 9. Middle East & Africa Managed Services Market Size Estimates and Forecasts, By Segments, 2019-2032
- 9.1. Key Findings
- 9.2. By Services (USD)
- 9.2.1. Voice Service
- 9.2.2. Non Voice Service
- 9.2.3. IT Managed Service
- 9.2.3.1. Managed Communication Services
- 9.2.3.2. Managed Networks & Infrastructure
- 9.2.3.3. Managed Security
- 9.2.3.4. Managed Wireless & Mobile Computing
- 9.2.3.5. Managed Cloud Infrastructure
- 9.2.3.6. Managed Software as a Service
- 9.2.3.7. Others (Managed Print Services, Managed Support Services, Data Analytics etc.)
- 9.3. By Function (USD)
- 9.3.1. Finance & Accounting (F & A)
- 9.3.2. Marketing
- 9.3.3. Supply Chain
- 9.3.4. Human Resource
- 9.3.5. Information Technology (IT)
- 9.3.6. Others (Customer Service, etc.)
- 9.4. By End-user (USD)
- 9.4.1. BFSI
- 9.4.2. IT & Telecom
- 9.4.3. Government
- 9.4.4. Retail & E-commerce
- 9.4.5. Energy & Utility
- 9.4.6. Healthcare
- 9.4.7. Manufacturing
- 9.4.8. Others (Education, Travel, etc.)
- 9.5. By Country (USD)
- 9.5.1. GCC
- 9.5.2. South Africa
- 9.5.3. Rest of MEA
- 10. Latin America Managed Services Market Size Estimates and Forecasts, By Segments, 2019-2032
- 10.1. Key Findings
- 10.2. By Services (USD)
- 10.2.1. Voice Service
- 10.2.2. Non Voice Service
- 10.2.3. IT Managed Service
- 10.2.3.1. Managed Communication Services
- 10.2.3.2. Managed Networks & Infrastructure
- 10.2.3.3. Managed Security
- 10.2.3.4. Managed Wireless & Mobile Computing
- 10.2.3.5. Managed Cloud Infrastructure
- 10.2.3.6. Managed Software as a Service
- 10.2.3.7. Others (Managed Print Services, Managed Support Services, Data Analytics etc.)
- 10.3. By Function (USD)
- 10.3.1. Finance & Accounting (F & A)
- 10.3.2. Marketing
- 10.3.3. Supply Chain
- 10.3.4. Human Resource
- 10.3.5. Information Technology (IT)
- 10.3.6. Others (Customer Service, etc.)
- 10.4. By End-user (USD)
- 10.4.1. BFSI
- 10.4.2. IT & Telecom
- 10.4.3. Government
- 10.4.4. Retail & E-commerce
- 10.4.5. Energy & Utility
- 10.4.6. Healthcare
- 10.4.7. Manufacturing
- 10.4.8. Others (Education, Travel, etc.)
- 10.5. By Country (USD)
- 10.5.1. Brazil
- 10.5.2. Mexico
- 10.5.3. Rest of Latin America
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. IBM Corporation
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. Accenture plc
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. Fujitsu Ltd.
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. Microsoft Corporation
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. NTT DATA Corporation
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. Amazon Inc.
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. DXC Technology
- 11.7.1.
- 11.7.1.1. Overview
- 11.7.1.2. Key Management
- 11.7.1.3. Headquarters
- 11.7.1.4. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. Tata Communication Services Limited
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. Capgemini SE
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. Atos SE
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
- 12. Key Takeaway
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