Managed Services Market to be Worth $731.08 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, Feb. 28, 2023 /PRNewswire/ -- The global managed services market size is expected to reach USD 731.08 billion by 2030, according to a new study conducted by Grand View Research, Inc. The market is expected to expand at a CAGR of 13.6% from 2023 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 managed services 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.

Key Industry 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 & management, email threat management, restoral management & backups, and support and maintenance management.
• The business support systems segment is anticipated to register the highest CAGR from 2023 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 2022. 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 & Medium Enterprises (SMEs) segment is anticipated to register a significant growth rate from 2023 to 2030. Increasing government initiatives through various digital SME campaigns across the globe is expected to drive the growth of the small & medium enterprises 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 segment's growth.
• North America accounted for the largest market share in terms of revenue in 2022. The rising number of Multinational Companies (MNCs) in North America bodes well for the regional market's growth.

Read 160-page market research report, "Managed Services Market Size, Share & Trends Analysis Report By Solution, By MIS, By Deployment (On-premise, Hosted), By Enterprise Size, By End Use (Government, Healthcare, Retail), By Region, And Segment Forecasts, 2023 - 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 pertaining to 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 April 2022, USAID (United States Agency for International Development) launched a digital transformation initiative for 200 micro, small, and medium-sized enterprises (MSMEs) in agribusiness, manufacturing, and metalworking. USAID's Economic Competitiveness Project supports MSMEs through technological, digital, and e-commerce tools across several sectors. Digitalization offers new marketing opportunities to companies and improves the business environment, which leads to higher profits and more employment for Salvadorans.

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 on the basis of solution, Managed Information Service (MIS), deployment, enterprise size, end use, and region

Managed Services Market - Solution Outlook (Revenue, USD Billion, 2018 - 2030)

• Managed Data Center
• Managed Network
• Managed Mobility
• Managed Infrastructure
• Managed Backup and Recovery
• Managed Communication
• Managed Information
• Managed Security

Managed Services Market - Outlook (Revenue, USD Billion, 2018 - 2030)

• Business Process Outsourcing (BPO)
• Business Support Systems
• Project & Portfolio Management
• Others

Managed Services Market - Deployment Outlook (Revenue, USD Billion, 2018 - 2030)

• On-premise
• Hosted

Managed Services Market - Enterprise Size Outlook (Revenue, USD Billion, 2018 - 2030)

• Small & Medium Enterprises (SMEs)
• Large Enterprises

Managed Services Market - End-use Outlook (Revenue, USD Billion, 2018 - 2030)

• Financial Services
• Government
• Healthcare
• IT & Telecom
• Manufacturing
• Media & Entertainment
• Retail
• Others

Managed Services Market - Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• Asia Pacific
• Japan
• China
• India
• Latin America
• Brazil
• Mexico
• Middle East & Africa

List of Key Players of 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:

• Payment As A Service Market - The global payment as a service market size is expected to reach USD 45.84 billion by 2030, expanding at a CAGR of 15.2% from 2023 to 2030, according to a new study conducted by Grand View Research, Inc. The proliferation of smartphones for online shopping, rising E-commerce sales, and increasing internet penetration rate are some of the major factors that are driving the industry's growth. Initiatives being adopted by various governments worldwide to promote digital payment are also contributing to the growth. Moreover, payment service providers' emphasis on providing upgraded payment solutions also bodes well for growth.
• Proactive Services Market - The global proactive services market size is expected to reach USD 18.19 billion by 2030, and register a CAGR of 20.3% from 2022 to 2030, according to a new report by Grand View Research, Inc. The heightened customer expectations, increased use of smartphones, and high adoption of e-commerce and other shopping applications have triggered the need for proactive services. Benefits such as increased availability and uptime, lower operational cost, increased brand loyalty, and better retention rate among others will further support the growth of proactive services. Implementing the latest technologies such as Artificial Intelligence (AI), advanced analytics, and Machine Learning (ML) helps differentiate the types of customers and offers them personalized experiences, which is expected to drive market growth.
• 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. Implementation of these services will help enterprises to reduce IT and operations costs and will also enhance productivity of those enterprises.

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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SOURCE Grand View Research, Inc.