Managed Services Market to be Worth $731.08 Billion by 2030: Grand View Research, Inc.
SAN FRANCISCO, March 15, 2022 /PRNewswire/ -- The global managed services market is expected to reach USD 731.08 billion by 2030, according to a new study conducted by Grand View Research, Inc. The market is projected to register a CAGR of 13.4% from 2022 to 2030. Strengthening profit margins, which cater efficiently to the needs of dynamic business environments, and improvements in operational efficiency are also expected to contribute to the growth of the market. Benefits associated with managed services implementation, such as a significant reduction in IT operational expenses and increased organizational efficiency, are also anticipated to drive the market growth.
Key Insights & Findings from the report:
● The managed security segment is expected to register the highest CAGR over the forecast period owing to the adoption of managed security services in end-use industries due to various benefits such as security monitoring and management, email threat management, restoral management & backups, and support & maintenance management.
● The business support systems segment is anticipated to register the highest CAGR from 2022 to 2030. The increasing adoption of business support system services such as business analysis, database integration, demand management service, and project management in end-use industries is anticipated to propel the growth of the business support systems segment over the forecast period.
● The on-premise segment dominated the market in 2021. Numerous organizations have adopted the on-premise mode of deployment as it does not require an internet connection and allows easy customization of software to suit the business process requirements of clients.
● The Small and Medium Enterprises (SMEs) segment is anticipated to register a significant CAGR over the forecast period. Increasing government initiatives through various digital SME campaigns across the globe is expected to drive the growth of the SMEs segment over the forecast period.
● The healthcare segment is anticipated to emerge as the fastest-growing segment over the forecast period. Several healthcare organizations are opting for managed services to protect patient data and secure monetary transactions, thereby contributing to the growth.
● North America accounted for the largest market share in terms of revenue in 2021. The rising number of Multinational Companies (MNCs) in North America bodes well for the regional market's growth.
Request a free sample copy or view report summary: "Managed Services Market Size, Share & Trends Analysis Report By Solution, By Managed Information Service (MIS), By Deployment, By Enterprise Size, By End Use, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Managed Services Market Growth & Trends
Managed services help reduce recurring in-house IT expenditures by ensuring that their IT infrastructure is running at optimal efficiency at all times while also automating business operations. This subsequently allows organizations to effectively achieve their business objectives, especially about strengthening the bottom line and increasing profitability. Initiatives being pursued aggressively by various governments toward digital transformation focusing on modernizing their IT infrastructure, strengthening governance, and improving citizen services are anticipated to drive the demand for managed services over the forecast period.
For instance, in May 2021, the Government of Canada (GC) has released the most recent version of its digital strategy, which includes a renewed push to provide individuals with secure digital identities. The government of Canada is expected to create a single digital identity for Canadians, and Shared Services Canada (SSC) is trying to consolidate ministries' networks and move them all to cloud-first networks. The GC is intended to modernize how the government manages technology and technical transformation to maintain government responsiveness and resilience to changing requirements and expectations of Canadians and companies.
Several businesses faced challenges because of the COVID-19 pandemic, and Managed Services Providers (MSPs) are no exception. Organizations across the globe opted for managed services to ensure operational efficiency amid lockdowns being implemented across various nations to halt the spread of coronavirus, organizational spending on new automation initiatives gradually slowed down.
Managed Services Market Segmentation
Grand View Research has segmented the global managed services market based on solution, Managed Information Service (MIS), deployment, enterprise size, end use, and region:
Managed Services Solution Outlook (Revenue, USD Billion, 2017 - 2030)
● Managed Data Center
● Managed Network
● Managed Mobility
● Managed Infrastructure
● Managed Backup and Recovery
● Managed Communication
● Managed Information
● Managed Security
Managed Information Service (MIS) Outlook (Revenue, USD Billion, 2017 - 2030)
● Business Process Outsourcing (BPO)
● Business Support Systems
● Project & Portfolio Management
● Others
Managed Services Deployment Outlook (Revenue, USD Billion, 2017 - 2030)
● On-premise
● Hosted
Managed Services Enterprise Size Outlook (Revenue, USD Billion, 2017 - 2030)
● Small & Medium Enterprises (SMEs)
● Large Enterprises
Managed Services End-use Outlook (Revenue, USD Billion, 2017 - 2030)
● Financial Services
● Government
● Healthcare
● IT & Telecom
● Manufacturing
● Media & Entertainment
● Retail
● Others
Managed Services Regional Outlook (Revenue, USD Billion, 2017 - 2030)
● North America
o U.S.
o Canada
● Europe
o U.K.
o Germany
● Asia Pacific
o China
o India
o Japan
● Latin America
o Brazil
● Middle East & Africa
List of Key Players in the Managed Services Market
● Accenture PLC
● Alcatel-Lucent Enterprise
● AT&T Inc.
● Avaya Inc.
● BMC Software, Inc.
● CA Technologies
● Cisco Systems, Inc.
● DXC Technology Company
● Ericsson
● Fujitsu Limited
● Hewlett Packard Enterprise Development LP
● International Business Machines Corporation
● Lenovo Group Limited
Check out more related studies published by Grand View Research:
● Managed Security Services Market - The global managed security services market is expected to reach USD 60.94 billion by 2024, according to a new report by Grand View Research, Inc. The proliferation of advanced threats is expected to increase the adoption of managed security services over the forecast period.
● Business Software And Services Market - The global business software and services market size is expected to reach USD 911.77 billion by 2028, registering a CAGR of 11.3% from 2021 to 2028, according to a new report by Grand View Research, Inc. Increasing volume of business data and automation of business processes across various industries such as healthcare, retail, and manufacturing are expected to drive the market growth over the forecast period.
● Cloud Managed Services Market - The global cloud managed services market size is expected to reach USD 82.51 billion by 2025, according to a study conducted by Grand View Research, Inc. The focus of enterprises on primary business operations is resulting into higher cloud managed services adoption. Business services, security services, network services, data center services, and mobility services are major categories in cloud managed services market.
Browse through Grand View Research's Next Generation Technologies Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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Grand View Research, Inc.
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