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United States and Puerto Rico IT Managed Services Market to Witness Growth by CAGRs of 11% and 7.5% Respectively Throughout 2020 – 2028 Owing to the Increasing Need for Evolved IT Infrastructure in Various Industry Verticals

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Research Nester published a report titled United States and Puerto Rico IT Managed Services Market: Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the United States and Puerto Rico IT managed services market in terms of market segmentation by enterprise size, service type, deployment, industry vertical, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The United States IT managed services market is expected to generate a revenue of USD 174,853.6 million by 2028, up from USD 71,760 million by recording a CAGR of 11% over the forecast period, i.e., 2020 – 2028. The market in Puerto Rico is projected to record a CAGR of 7.5% during the same period, reaching a value of USD 973.3 million by the end of 2028. The growth of the market can be accounted to the growing requirement for evolved IT infrastructure, and escalating focus of small and medium enterprises (SMEs) on reduced risk and core business.

The market is segmented by enterprise size into large enterprises and small & medium enterprises, out of which, the segment for large sized enterprises is estimated to acquire a sizeable revenue of USD 1,08,552.3 million by the end of 2028, which grew up from USD 46,569.3 million in 2019. Furthermore, the segment for small & medium sized enterprises is expected to grow by the highest CAGR of 11.9% over the forecast period, which can be credited to the growing number of IT startups, increasing use of cloud-based technologies and rising adoption of complicated automation systems in SMEs. For instance, there were more than 30 million small businesses operating in the U.S. in 2018.

Regionally, the market is segmented into West U.S., Northeast U.S., Southeast U.S., Southwest U.S., and Midwest U.S. Amongst these regions, the market in the West U.S. is anticipated to witness a notable growth of 11.7% over the forecast period, on the back of escalating technological advancements in AI and IoT technologies and the intensifying requirement for cost-effective IT budgets to deploy managed services across companies. The market in this region is further segmented into California, Alaska, Washington and Oregon. The state of California is predicted to observe a growth rate of 12.1% in the upcoming years as a result of the presence of major market players motivated to offer positive and reliable digital services.

Growing Need for Sophisticated IT Infrastructure to Drive Market Growth

The United States is a home to extremely advanced software and information technology solutions industries in the world. The country accounts for about 33% of the total share of the global IT market. In addition, the growing introduction of IT technologies in several industries such as BFSI, telecommunications, media and entertainment and healthcare, requires a structure of sophisticated managed services to function properly. This is considered to boost market growth in the near future.

However, rising number of security threats and lack of skilled IT professionals are expected to operate as key restraints to the growth of the United States and Puerto Rico IT managed services market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the United States and Puerto Rico IT managed services market which includes company profiling of IBM Corporation, Infosys Limited, Cisco System Inc., DXC Technology Company, Accenture PLC, Hewlett Packard Enterprise Development LP, AT&T Inc., Verizon Communications Inc, Dell Technologies Inc., Tata Consultancy Services Limited, Rackspace Technology, iNubo IT, CP CORP, and others. 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 United States and Puerto Rico 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.

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