Global Managed Services Market Report Forecast By Type (Managed Data Center, Managed Security, Managed Communications, Managed Network, Managed Infrastructure, Managed Mobility), Size of Enterprise (Small & Medium Size, Large Enterprise), End-User (BFSI, IT and Telecommunication, Healthcare, Entertainment and Media, Retail, Manufacturing, Government, Others), Deployment (On-premise, Cloud), Countries and Company Analysis 2024-2032

Driving Forces of Managed Services Market

Growing IT Infrastructure Complexity

The market for managed services is mostly driven by the growing complexity of IT systems, which include hybrid cloud environments, vast data networks, and sophisticated cybersecurity requirements. Businesses are finding it more and harder to manage and maintain their IT infrastructure due to the integration of several platforms, a wide range of software applications, and rapid technological advancements. In order to effectively manage this complexity and guarantee the best possible system performance, dependability, and security, managed service providers (MSPs) provide specialized knowledge, resources, and cutting-edge solutions.

For instance, Cognizant introduced a multi-hybrid cloud and edge management platform in April 2023 with the goal of streamlining their cloud management operations and enabling the company to migrate to contemporary cloud-native designs. Through a carefully selected library of solution accelerators, Cognizant Skygreed uses an industry emphasis on approach, enabling businesses to swiftly and effectively generate more business value while promoting simplification, sustainability, and cost-effectiveness. Over the upcoming years, this is anticipated to strengthen the managed services market prediction.

Broad Use of Cloud Computing Technologies

The industry is expanding primarily due to the growing popularity of cloud computing. Businesses are moving to cloud-based solutions in order to reap the benefits of increased accessibility, increased collaboration, and cost savings, but managing these environments successfully frequently calls for professional help. Complete cloud management solutions are provided by managed service providers, guaranteeing top efficiency, safety, and economy.

In May 2024, for example, young Hollywood and Rackspace Technology, the industry leader in end-to-end, hybrid multi-cloud, and AI solutions, announced that they would be collaborating on a multi-phase Google Cloud solution that would revolutionize video content management. The required infrastructure, video assets, third-party metadata, and video processing using the Google Cloud Video Intelligence Application Programming Interface (API) were all successfully produced by the partnership. The innovative entertainment network can now process videos ten times faster and access data more easily thanks to the new cloud architecture, which also opens up new revenue and distribution options.

Asia Pacific Managed Services Market

China has made digital transformation a primary priority, and it is progressing quickly as more businesses put official policies into place to aid in their efforts. China's State Council unveiled a plan in January 2021 to support the growth of the digital economy during the 14th Five-Year Plan (2021–2025). By 2025, digital public services will be more inclusive, the governance structure of the digital economy will clearly improve, and China's digital transformation of sectors will reach a new level.

Furthermore, by staying up to date with the latest technology, managed service providers in China concentrate on lowering security risks and streamlining operations for the end customers. The managed services sector is primarily served by the nation's telecom providers. To increase their market share, these businesses are also deliberately purchasing managed service providers.

In addition, the swift advancement of technology in its various domains has resulted in a massive transformation of the Indian banking industry, prompting entities to employ cloud computing services as a means of resolving their problems. The nation's managed storage companies are also making investments to create an integrated cloud storage platform specifically for the BFSI industry. Moreover, it is anticipated that the government of India will continue to invest heavily in physical infrastructure, such as smart cities, which would increase the prospects for the deployment of managed services, such as network management, security, and data storage, in the nation. The goal of the Indian smart cities initiative is to convert 100 cities at this time.

Managed Services Company Analysis

The key players in managed services industry are Fujitsu Ltd, Cisco Systems Inc., IBM Corporation, AT&T Inc., Microsoft Corporation, Verizon Communications Inc., Dell Technologies Inc., Nokia Solutions and Networks, Rackspace Inc. and Tata Consultancy Services Limited.

Managed Services Company News

October 2023- The Intelligent Connectivity suite, which is powered by Cisco Systems, Inc. and comprises products including SASE, SSE, SD-WAN, and Private 5G, was introduced by technology services provider Logicalis. Through the use of Cisco technology, digitally managed services developed and supported by the Logicalis Digital Fabric Platform will now be accessible to Logicalis clients.

September 2023- Cloud5 Communications, a provider of technology and communications solutions, has opened a new managed services business. The division is made to assist the demands and difficulties associated with IT in a variety of businesses, including senior living, student housing, and the hospitality sector, among others. Customers will receive assistance from this sector in effectively managing technological infrastructures, security, and IT operations.

May 2023- MSP Corp, a managed IT service provider in Canada, was acquired by Alfar Capital and Walter Capital Partners. The MSP Corp and Groupe Access, an MSP for cybersecurity and IT solutions, would join. The acquisition would improve the company's standing in Canada and enable it to offer cutting-edge solutions.

Jan 2023- The multi-cloud technology solutions company Rackspace Technology introduced Rackspace Technology Modern Operations, a managed public cloud service for users of Azure, AWS, and GCP. Benefits of the service will include managed assistance that is available around-the-clock, 365 days a year, cloud expertise, cloud resilience, and innovative cloud services that assist customers in managing intricate cloud infrastructures.

Type – Market breakup in 6 viewpoints:

1. Managed Data Center
2. Managed Security
3. Managed Communications
4. Managed Network
5. Managed Infrastructure
6. Managed Mobility

Size of Enterprises–Market breakup in 2 viewpoints:

1. Small & Medium Size
2. Large Enterprise

End User – Market breakup in 8 viewpoints:

1. BFSI
2. IT and Telecommunication
3. Healthcare
4. Entertainment and Media
5. Retail
6. Manufacturing
7. Government
8. Others

Deployment – Market breakup in 2 viewpoints:

1. On-premise
2. Cloud

Country – Market breakup in 25 viewpoints:

North America

• United States
• Canada

Europe

• France
• Germany
• Italy
• Spain
• United Kingdom
• Belgium
• the Netherlands
• Turkey

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Thailand
• Malaysia
• Indonesia
• New Zealand

Latin America

• Brazil
• Mexico
• Argentina

Middle East & Africa

• South Africa
• Saudi Arabia
• United Arab Emirates

All the key players have been covered from 5 Viewpoints:

• Overview
• Key Persons
• Product Portfolio
• Recent Development
• Revenue Analysis

Key Players Analysis:

1. Fujitsu Ltd
2. Cisco Systems Inc.
3. IBM Corporation
4. AT&T Inc.
5. Microsoft Corporation
6. Verizon Communications Inc.
7. Dell Technologies Inc.
8. Nokia Solutions and Networks
9. Rackspace Inc.
10. Tata Consultancy Services Limited

Report Details: