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Managed Services Market by Service Type, Vertical, Organization Size, Deployment Type And Region - Global Forecast to 2023

Managed Services Market: Global Forecast until 2023

  • October 2018
  • 234 pages
  • ID: 5091916
In this report:
Telecom and IT, BFSI, media and entertainment, and consumer goods and retail are expected to be the major verticals to adopt managed services, with the telecom and IT vertical expected to reach USD ##.## billion by 2023, at a CAGR of ##.##% during the forecast period
North America is expected to account for the highest share of ##.##% in the global managed services market in 2018, growing at a CAGR of ##.##% during the forecast period.

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Growing dependence of enterprises on IT infrastructure to enhance their business productivity is predicted to push the global rise of the managed service market

The overall managed service market is forecasted to grow from $180.50B in 2018 to $282.00B by 2023, at a Compound Annual Rise rate of 9.30 percent during the forecast period. The manages services size is influenced by several factors, including the rising dependence of organizations on IT assets to improve their business productivity and the need for specialized managed service providers who can offer cost-effective managed services. Nevertheless, the growing number of compliances and regulations among different areas can hinder the increase of the market.

The managed encryption segment is anticipated to rise at the highest CAGR (Compound annual growth rate) during the outlook period

In recent years, the importance of information security has grown many folds.The growing number of cybercrimes are challenging organizations to upkeep data security, and increasing threat landscapes have made it difficult for organizations to manage security considerations by themselves.

To combat with these situations, institutions are taking the help of managed service providers who can provide advanced information protection measures against frauds and security breaches.

The telecom and IT vertical is anticipated to hold the biggest market share during the estimate period

Telecom and IT firms are facing aggressive competition and continuously struggling to retain their existing customers.The rising use of mobile data services and smartphones has put telecom and IT firms under the pressure to constantly innovate their service offerings and extend the scope of their business model.

Huge amount of personal data managed on smartphones and the increasing number of regulatory compliances are forcing the telecom and IT firms to adhere to these rules. Therefrom, companies from this vertical are turning toward managed service providers to secure their data and manage the associated risks.

Asia Pacific (APAC) is anticipated to record the maximum growth rate during the outlook period

Asia-Pacific is anticipated to grow at the highest compound annual growth rate (CAGR) during the estimate period, due to the growth in demand for cloud-based managed services.Increasing economies in countries including China (CN), Australia (AU) and New Zealand (NZ), India (IN), and Singapore (SG) offer huge opportunities for the adoption of the managed services across various industry verticals.

Meanwhile, North America (NA) is estimated to hold the biggest industry size during the outlook period.

Comprehensive interviews were managed with Chief Executive Officers, marketing directors, other innovation and technology directors, and executives from numerous main institutions operating in the managed services marketplace.

• By company category: Tier 1 - 35.0 percent, Tier 2 - 45.0 percent, and Tier 3 - 20.0 percent

• By description: C-suite - 35.0 percent, D-level - 25.0 percent, and Others - 40.0 percent

• By area: North America continent - 40.0 percent, Europe (EU) - 30.0 percent, Asia-Pac - 20.0 percent, MEA - 5.0 percent, and Latin America area - 5.0 percent

Main vendors offering managed services solutions across the world contain IBM (NYSE:IBM), Fujitsu (TYO:6702), Cisco Systems (NASDAQ:CSCO), Accenture, Atos, DXC, AT&T, Ericsson (NASDAQ:ERIC), Cognizant, HCL, Infosys, Huawei,, Tech Mahindra, Capgemini, Dimension Data, Wipro, Unisys, GTT Communications, Nokia Networks, Netmagic, Rackspace, Dataprise, Happiest Minds, and Cycops. The report includes an exhaustive competitive study of these top actors in the managed services market, with their company descriptions, latest developments, and key industries strategies.

Research coverage

The market study includes the managed services market size across segments.It aims at evaluating the market value and the increase potential of this market across several segments, including service type, organization size, deployment type, vertical, and area.

The market research also comprises a detailed competitive analysis of the top players in the sector, together with their company descriptions, main observations associated to product and business offerings, recent evolutions, and key industries strategies.

Main highlights

The analysis will facilitate the market top players/new sector entrants in this sector with data on the best approximations of the revenue data for the global managed services industry and the sub-segments.This industry report will facilitate partners distinguish the competitive landscape and obtain additional insights to better option their businesses and to plan suitable go-to-market approaches.

The market research also benefits partners comprehend the pulse of the sector and offers them with info on main market drivers, market restraints, opportunities, and alternatives.

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