Managed Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Managed Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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

Managed services refer to the process of outsourcing the partial or complete management responsibility to a third party to handle various business-related activities. They include services, such as monitoring and maintaining equipment and remotely managing systems, firewall, encryption, wireless fidelity, server, information, security, communication, servers, networks, and organization infrastructure. Managed services further help organizations in managing customer's networks, applications, storage, security, computing, and operating systems. Enterprises usually utilize these services to enable a continuous infrastructure auditing, increase productivity, provide transparency, automate business processes, track records, and improve operations. They also aid in simplifying IT operations, improving service quality, and increasing user satisfaction at reduced expenditures due to which it finds extensive applications across several industrial verticals.

Managed Services Market Trends:
One of the key factors driving the managed services market growth is the increasing need for secure IT infrastructure across organizations due to the rising instances of cyberattacks. In line with this, the sudden outbreak of the coronavirus disease (COVID-19) pandemic has prompted businesses to shift toward remote working environment due to the consequent imposition of mandatory lockdowns by governments of different nations. This, in turn, has led to the widespread adoption of managed services for ensuring business continuity and constant monitoring, identity, and access management applications, which is favoring the market growth. Apart from this, the integration of artificial intelligence (AI), the Internet of Things (IoT) and machine learning (ML) technologies to reduce error rates, enable smart monitoring and compliance management, and ensure the efficiency of processes are providing an impetus to the market growth. Additionally, the increasing deployment of managed services by various small and medium-sized enterprises (SMEs) can be attributed to the benefits offered by the service, such as improved operational efficiency, reduced operating expenses, an enhanced focus on core competencies, and optimal resource utilization and distribution, which is positively impacting the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global managed services market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, deployment mode, enterprise size and end use.

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

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Key Questions Answered in This Report:
How has the global managed services market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global managed services market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the deployment mode?
What is the breakup of the market based on the enterprise size?
What is the breakup of the market based on the end use?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global managed services market and who are the key players?
What is the degree of competition in the industry?