DUBLIN--(BUSINESS WIRE)--The "Global Managed Services Market, By Services, By Function, By End-User & By Region- Forecast and Analysis 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The Global Managed Services Market is valued at USD 179.33 billion in 2021, and it is anticipated to attain a value of USD 393.72 billion by 2028, at a CAGR of 11.82 % over the forecast period (2022-2028).
Managed services assist businesses in increasing operational efficiency and lowering operating costs while allowing them to focus more effectively on core competencies.
Furthermore, they ensure optimal resource distribution and utilization, resulting in increased profitability and operational efficiency. Because of scalable infrastructure and flexible managed services models, businesses are finding it easier to respond to technological advances. During the forecast period, the majority of these factors are expected to drive market growth.
Segments covered in this report
The global managed services market is segmented by service, function, supply chain, end-user, and region. Based on the services, it is categorized (voice service, non-voice service, and IT managed service).
Based on the function, it is categorized into finance & accounting, marketing, procurement, supply chain, human resource, and information technology.
Based on the end-user, it is categorized into medical, financial, government, audit & consulting, corporate, telecom, and insurance & re-insurance. By Region, the market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Driver
Adoption of cutting-edge technologies such as AI, cloud management, and others is assisting organizations in meeting various functional business requirements while driving business process optimization. Managed services offer efficient functionality at a low cost while maintaining high quality.
Furthermore, they support and ensure the dependability and consistency of various business processes' services.
Restraint
There has been a shift in recent years from private cloud to public cloud, as well as from on-premises to cloud. Several concerns have been raised about corporate privacy and data security as a result of this.
Data breaches and privacy concerns plague businesses on a daily basis. Increasing data breaches and cyberattacks, as well as rising data security concerns, are causing organizations to suffer both tangible and intangible losses, especially when it comes to third-party integrations.
To avoid mishaps, MSPs must ensure that these concerns are addressed and that they have the most up-to-date tools and technologies.
Market Trends
The COVID-19 pandemic has had a worldwide impact. Work-from-home models have supplanted traditional working models. Furthermore, a significant shift from private to public cloud raises several security concerns, adding fuel to the managed services market's growth.
This change is likely to benefit the managed services market because managed services can efficiently secure an organization's IT infrastructure and provide various security services such as continuous monitoring, identity, and access management. In the immediate aftermath of the pandemic, MSPs expanded their security services offerings to accommodate changes in work style and provide the best services.
Companies Mentioned:
- Fujitsu Ltd. (Japan)
- NOKIA Corporation (Finland)
- Microsoft (US)
- Deutsche Telekom AG (Germany)
- Verizon Communication (US)
- Rackspace Inc. (US)
- Citrix Systems Inc. (US)
- Telefonaktiebolaget LM Ericsson (Sweden)
- Atos SE (France)
- Capgemini (Paris)
For more information about this report visit https://www.researchandmarkets.com/r/28r16g
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