Managed Services Market Evaluation of Industry Trends, Growth Drivers and Forecast To 2025
Managed Services Market: Snapshot
The growing trend of adopting emergent technologies among enterprises to stay ahead of their competitors has been propelling the global managed services market significantly. The continual rise in the intricacy of technological solutions and the increasing dependency over the heterogeneous networks of infrastructure and application are also driving the growth of this market across the world. However, the long-term recurring expenses and the doubts regarding the efficacy of managed services may restrict the market from growing steadily in the near future. Nonetheless, the advent of novel business propositions and the rise in network opportunities are anticipated to nullify the effects of the restraints in the years to come.
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Managed data center, managed mobility, managed networking, managed infrastructure, managed information, managed communications, and managed security services are some of the prominent managed services provided by vendors across the world. The demand for managed data center is higher than other services and is projected to remain so over the next few years, thanks to the massive data glut created by the upswing in networking, rising number of startups, and the surge in the demand for connected devices. Over the coming years, the demand for managed mobility is also projected to increase considerably due to the emergence of the bring your own device (BYOD) concept.
Global Managed Services Market: Overview
Managed Services are the exercise of outsourcing on a daily and active basis of management functions and responsibilities and a planned method for the purpose of cutting down expenses and improving operations. It is a substitute for on-demand or break/fix model in which the service provider executes on-demand services and charges the customer only for the task achieved. Under this type of subscription model, the customer is the sole entity that possesses or has direct control of the organization or task being accomplished, whereas the managed services provider (MSP) is only the service provider supplying the managed services. The MSP and the client are bound by a legal and contractual agreement that specifies the performance and the quality of their professional relationship.
Accepting managed services is an effectual way to stay up to date in terms of technology, get admittance to essential skills, and further address a wide range of concerns related to quality and cost of the service. As the information infrastructure components of several small-medium businesses and large organizations are migrating towards cloud, many managed services providers are gradually facing the challenge of cloud computing. Thus, numerous MSPs are providing the client with in-house cloud services or are acting as brokers to cloud services providers.
The market intelligence publication delves into the possible growth opportunities for the global managed services market and the chronological growth of the market throughout the forecast period. It also uniquely provisions required data related to facers such as dynamics influencing the progress in all possible retrospective manner. Several ubiquitous and non-ubiquitous trends have also been mentioned in the study. An outlook of extensive nature keeping in mind the Porter’s five forces analysis has been provided to make the vendor landscape transparent to the reader. The report further reaches out to point out accomplishments related to R&D, acquisitions, mergers, and crucial partnerships and verifications. The companies in limelight have been analyzed on market shares, products, and key strategies.
Global Managed Services Market: Trends and Opportunities
A few years ago, cloud services were still unknown and several organizations and institutions were reluctant towards making the switch, rather skeptical about the security and privacy systems in the cloud services. However, now companies are comfortable with the concept of the cloud services and are eager to take advantage of the several cloud applications and the benefits that they are likely to offer such as mobility and cost saving. Many small and medium businesses lack the technical expertise that is required to make the conversion in the cloud services. Thus, this is expected to provide lucrative opportunities to managed services providers. The segment of managed mobility services is anticipated to surge at a considerably high CAGR during the next couple of years. With the growing use of tablets, smart phones, and other different mobile devices, the growth opportunities in the managed mobility services market have also surged across diverse industries for improved data security, productivity, and privacy.
Global Managed Services Market: Regional Outlook
With the growing number of companies outsourcing functions related to IT to several countries in the Asia Pacific region, the cloud as well as managed services models have gained traction due to their cost effectiveness and enhanced productivity. North America is also likely to become one of the most promising regions for the growth of the managed services market due to a high rate of deployment of managed services.
Global Managed Services Market: Vendor Landscape
Some of the companies in the managed services market are Accenture Plc., Ericsson Corporation, Huawei Technologies Co. Ltd., Cisco Systems, Inc., and IBM Corporation.
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