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What is the Expected Growth Rate of the Managed Services Market Based on Industry Projections?

The market for managed services has seen robust expansion in the past years. The market is expected to increase from $290.89 billion in 2024 to $310.95 billion in 2025, boasting a compound annual growth rate (CAGR) of 6.9%. Contributing factors to this historical growth include cost-effectiveness, scalability requirements, emphasis on main competencies, IT environment complex nature, and globalization.

The market size of managed services is predicted to experience a significant increase in the upcoming years. It is projected to escalate to $520.79 billion in 2029, with a compound annual growth rate (CAGR) of 13.8%. This growth during the forecast period can be credited to the escalating intricacy of IT environments, an upsurge in cyber threats, management of remote workforce, the boom in cloud adoption, and the emphasis on business continuity. The forecast period will also present prominent trends, including service customization, data analytics, and insights, a concentration on customer experience, managing compliance, and demands for scalability.

What Are the Primary Drivers Supporting the Growth of the managed services Market?

The rise in small and midsize businesses (SMB), anticipated to spur the expansion of the managed services market. Small businesses are classified as those with less than 100 employees, while midsize enterprises are those that have between 100 to 999 employees. Managed services are crucial to these businesses to competently manage their IT infrastructure, network administration, and cybersecurity, enabling them to concentrate on their main business operations without the necessity for in-house technical expertise. For instance, as per the information provided by GOV.UK, a UK-based government services and information provider, there were 5.47 million small businesses and 35,900 medium-sized businesses in October 2022, marking an increase from 2021. Hence, the surge in small and midsize businesses (SMB) is stimulating the expansion of the managed services market.

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What Companies Are At the Forefront of Innovation in the Managed Services Market?

Major companies operating in the managed services market include:

• Huawei Technologies Co Ltd._x000D_

• Verizon Communications Inc._x000D_

• AT&T Inc._x000D_

• Accenture plc_x000D_

• International Business Machines Corporation (IBM)_x000D_

How Are Emerging Trends in Consumer Behavior Affecting the Managed Services Market?

Top firms active in the managed services sector are committed to launching solutions that enable businesses to manage their IT environments effectively while prioritizing their primary activities. Artificial Intelligence (AI) is the advancement of computer systems or machinery capable of executing tasks that traditionally need human intellect. For example, Happiest Minds Technologies Ltd. from India rolled out WATCH360, an AI-integrated platform, in July 2024 for streamlined IT infrastructure management. Empowered by ELLIPSE, WATCH360 employs AI and machine learning to deliver instant insights and process automation, thereby boosting the overall IT effectiveness. The service ensures constant management of IT infrastructure, delivering reliability and continuous support. WATCH360 handles diverse IT components, such as servers, databases, network and security devices, and services native to the cloud.

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Which Key Market Segments Comprise the Managed Services Market and Drive Its Revenue Growth?

The managed services market covered in this report is segmented –

1) By Service Type: Managed Security Services, Managed Network Services, Managed Data Center And IT Infrastructure Services, Managed Communication And Collaboration Services, Managed Mobility Services, Managed Information Services, Other Service Types

2) By Deployment model: Cloud, On-Premises

3) By Organizational Sizes: Large Enterprises, Small And Medium-sized Enterprises (SMEs)

4) By Application: BFSI, IT And Telecom, Retail And Consumer Goods, Manufacturing, Government, Healthcare And Life Sciences, Energy And Utilities, Media And Entertainment, Other Applications

Subsegments:

1) By Managed Security Services: Threat Monitoring and Management, Incident Response, Security Compliance Management

2) By Managed Network Services: Network Monitoring and Management, WAN Optimization, Network Design and Implementation

3) By Managed Data Center and IT Infrastructure Services: Data Center Management, Server Management, Backup and Disaster Recovery

4) By Managed Communication and Collaboration Services: Unified Communication Solutions, Video Conferencing Services, Collaboration Tools Management

5) By Managed Mobility Services: Mobile Device Management (MDM), Mobile Application Management (MAM), Endpoint Security for Mobile Devices

6) By Managed Information Services: Data Analytics and Business Intelligence, Information Governance, Document Management Services

7) By Other Service Types: Managed Print Services, Managed Cloud Services, IT Help Desk and Support Services

What Regions Are Propelling Growth in the Managed Services Industry?

North America was the largest region in the managed services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the managed services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Does the Definition of the Managed Services Market Include?

A managed service is any task that a third party handles, often in the context of business IT services. Managed services are a way to outsource general tasks to an expert to reduce costs, improve service quality, or free up internal teams to do work specific to the business. Managed services are cost-effective, provide more capability to company end-users, allow teams to focus on business core competencies, and allow in-house IT to focus on more strategic IT programs.

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