Europe Managed Services Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The European managed services market was valued at USD 88.57 billion in 2020, and it is projected to be worth USD 196.61 billion by 2026, registering a CAGR of 14.1% during the period of 2021 - 2026. Although Western Europe is the growth hub for managed hosting and colocation in Europe, Eastern Europe is witnessing growth with cloud and hosting technology trends. Moreover, server virtualization technology is also gaining traction, with managed hosting customers investing in managed virtualized servers, instead of dedicated physical servers in the traditional hosting model.
Key HighlightsThe Europe managed services market is fragmented as market studied is dominated by international players which have a strong client base in the market. Additionally, in order to sustain in the market and retain their clients, companies are employing powerful competitive strategies. Thus, intensifying competitive rivalry in the market. Key players are Fujitsu Ltd, IBM Corporation, Cisco Systems, etc. Recent developments in the Europe Managed Services market are -
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