The year 2017 witnessed more than 300,000 internet complaints that resulted in the total loss of more than $ 1 Billion ~ Federal Bureau of Investigation

“Global IT Managed Services Market Outlook: Industry Demand Analysis & Opportunity Assessment 2016–2023”

The IT Managed Services ecosystem is rising in developed countries which have led the market players to focus towards the advancement in connectivity services. Further, the growing adoption rate of smart and connectivity devices is believed to increase the transfer and collection of information that will raise the demand for IoT platforms and other IT related managed services around the globe.

The global IT managed services market accounted for USD 149.41 Billion in 2016 and is believed to reach significant market value of USD 262.5 Billion by the end of 2023. Further, the global IT managed services market is estimated to expand at a CAGR of 8.38% during the period 2016-2023.

In terms of geographical segmentation, the global IT managed services market is segmented into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa, out of which, the North America region dominated the market with highest share of 30.7% during 2016 and is believed to grow with significant pace over the forecast period owing to the rapid adoption of IT infrastructure in various companies in the U.S. and overall presence of IT managed services in North America region.

The global IT managed services market is segmented into types of services, end-use application and end-users. The end-users segment is further divided into BFSI, IT & ITeS, education industry, manufacturing, healthcare, retail industry and others, out of which, the IT & ITeS segment dominated the global IT managed services market by holding the largest valuation of USD 38.4 Billion in 2016 and is anticipated to behold its dominant position by the end of 2023. Further, the popularity of healthcare services through smart devices and telemedicine services among the population is estimated to boost the growth of the healthcare sector in the IT managed services market in upcoming years.

The report titled “Global IT Managed Services Market Outlook: Industry Demand Analysis & Opportunity Assessment 2016–2023” also includes some prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.

This report also studies existing competitive scenario of some of the key players of the global IT managed services market which includes profiling of Siemens Corporation, Dell Technologies, IBM Corporation, Alcatel Lucent, Microsoft Corporation, Cisco Systems Inc., Hewlett Packard Enterprise and Accenture. The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled Global IT Managed Services Market Outlook 2023”, analyses the overall IT managed services industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global IT managed services market in the near future.