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IT Managed Service Market : Global Demand Analysis & Opportunity Outlook 2021

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Extensive insights into the Growth of IT Managed Service Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Global IT Managed Services Market Overview  Button

IT managed services help an organization to optimize their IT budgets and provide flexibility in delivering IT services to end-client efficiently. In addition to that, IT managed services also help an organization to formulate a time saving, efficient and productive working model to enhance outputs by reducing operational cost.

Global managed services market is anticipated to expand from USD 129 Billion in 2014 to USD 230 Billion by 2021, showcasing a compound annual growth rate (CAGR) of 8.61%. Geographically, global IT managed services market is segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific and Rest of world.

Market Size and Forecast

North America holds the first rank in global IT managed services market followed by Asia-Pacific region.

North America IT managed service market was valued at USD 51.0 Billion in 2013 and is envisioned to reach at USD 73.0 Billion in 2019, exhibiting a compound annual growth rate (CAGR) of 6.16%.  With approximately 33.0% share in 2015, the U.S. is the largest IT managed services market in North America.

Furthermore, Asia-Pacific ICT managed services market is anticipated to reach at USD 70.0 Billion in 2018. Growing number of enterprises in countries such as India, China, Japan and Singapore are likely to drive Asia-Pacific IT managed services market in future.

Currently, U.K. is the largest IT managed services market in Europe which is anticipated to be surpassed by Germany by the end of 2018. CLICK TO DOWNLOAD SAMPLE REPORT

Market Segmentation

By Types of Services

Based on type of services offered, global IT managed services market is segmented into data centre and network management, desktop management services, server management services, IMAC services, IT maintenance services and IT hardware support services.

  • By Type of Service Consumers

On the basis of type of service consumers, global IT managed services market is segmented as Small and Medium Businesses (SMB) and large enterprises.

  • By Verticals

Global IT managed services market is divided on the basis of verticals into BFSI (Banking, Financial Services and Insurance), oil and gas, education, manufacturing, logistics, healthcare, retail and others.

The study further incorporates Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

Growth Drivers and challenges

Increasing penetration of cloud computing, big data, and mobility technologies across various industry verticals is believed to be a prominent growth driver of global IT managed services market in near future.

In addition to that, rising inclination of IT companies towards enhancing business efficiency and customer satisfaction is also expected to foster global IT managed services market in future.

However, security and privacy concerns associated with IT managed services are anticipated to restrain the growth of market during 2015-2021.

Key Players

Global IT managed service market includes some of the major organizations such as Fujitsu, IBM, AT&T, Alcatel-Lucent, Microsoft, HP, Dell, Verizon Communications, etc.

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