The global IT managed services market is segmented into services types such as data center & network management services, desktop management services, server management services, install, move, add, change (IMAC), IT maintenance services, IT hardware support services. Among these segments, data center & network management services segment is expected to occupy the top position in the global IT managed services market. The demand for data center & network management services segment is increasing on account of increasing number of connectivity devices across the globe.
The Global IT managed services market is expected to register 8.38% CAGR over the forecast period. Moreover, the market of IT managed services was valued at USD 149.4 Billion in 2016. The market is expected to expand on the back of the rapid growth in IT industry across the globe.
The large enterprise segment is estimated to register a CAGR of 7.69% during the forecast period. Moreover, this segment is expected to account for the largest share of revenue across the globe. The major reason behind the positive growth of this segment is the growing need for IT resources in large enterprises.
Growth of IT Industry
Due to increasing funding in IT sector, rapid growth of IT industry has been witnessed in recent years. Advancement in well-established IT companies and emergence of large scale IT companies in growing nations are adopting business process automation to operate efficiently. Moreover, the IT companies are deploying various managed services for data management, network management and others to increase their efficiency. This would increase the demand for the IT managed services.
Rising Trend of Digitalization
The rising digitalization is leading to the increased adoption of the IT managed services across the India region. Various public and private sector companies are shifting towards the digitization in order to reduce the time of operations and to provide better services. Government authorities are focusing towards the digitization of services for the population which reduces the complexity associated with services. This rapid pace of growth in digital industry has increased the adoption of advanced technology products and services in various industries.
Although, privacy and security issues, high cost of advanced infrastructure IT managed services, rising cybercrime activities are some of the factors that are likely to inhibit the growth of the IT managed services market in the near future.
The report titled “Global IT Managed Services Market Outlook 2023” delivers detailed overview of the Global IT Managed Services Market in terms of market segmentation by services type, by end-use application, by end user and region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global IT managed services market which includes company profiling of Siemens Corporation,Dell Technologies,IBM Corporation, Alcatel Lucent, Microsoft Corporation, Cisco Systems Inc., Hewlett Packard Enterprise, Accenture. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global IT managed services market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.