North America Managed Services Market Size, Share & Industry Trends Analysis Report By Enterprise Size, By Vertical, By Deployment Type, By Type, By Managed Information Service Type, By Country and Growth Forecast, 2021 - 2027
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Market Report Description
The North America Managed Services Market would witness market growth of 6.9% CAGR during the forecast period (2021-2027).
The adoption of cutting-edge technologies like artificial intelligence (AI), cloud management, and others is assisting firms in meeting a variety of functional business requirements while also driving business process optimization. Managed services provide efficient functionality at low costs without sacrificing quality. Furthermore, managed services support and assure the reliability & consistency of services provided for various business operations.
Big data analytics has developed as a viable alternative to traditional approaches in the fields of consumer electronics, semiconductors, and the automotive sector, where producers must monitor various variables to make sure the quality of finished products. Because most small & medium industrial firms are primarily focused on hardware equipment and lack competence in software solutions, these big data analytic solutions are being outsourced. They can save even more money by outsourcing software services. During the projected period, the pattern of outsourcing additional software services, such as field service management and ERP, would enhance managed services
IBM Corporation, Accenture and Cognizant, among others, are among the MSPs that have helped to the regional market to prosper. Because of the increased use of these services among small & medium-sized businesses and the supply of considerable IT budgets, the United States controls the majority of the North American market. As a result, prominent industry participants are focusing on merger and acquisition tactics to avoid cyber security vulnerabilities. This opens up a lot of possibilities. Cisco Systems, Inc., for example, purchased Duo Security for USD 2.35 billion in October 2018 to avoid cyber security breaches. Cisco users will be able to connect any application on networked devices securely and easily as a result of this purchase. The US Army, Air Force, US Department of Justice (DOJ), and other government organizations in the region were early adopters of cloud technology, setting new patterns for other businesses and institutions to follow.
The US market dominated the North America Managed Services Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $91,422.4 million by 2027. The Canada market is estimated to witness a CAGR of 9.3% during (2021 - 2027). Additionally, The Mexico market would exhibit a CAGR of 8.4% during (2021 - 2027).
Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises (SMEs). Based on Vertical, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail & eCommerce, Government & Defense, Media & Entertainment, Manufacturing and Others. Based on Deployment Type, the market is segmented into On-premise and Hosted. Based on Type, the market is segmented into Managed Data Center & IT Infrastructure, Managed Network & Communication Services, Managed Mobility Services, Managed Information Services, Managed Security Services, and Others. Based on Managed Information Service Type, the market is segmented into Business Process Outsourcing (BPO), Business Support Systems, Project & Portfolio Management and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Atos Group, Accenture PLC, Fujitsu Limited, Cisco Systems, Inc., DXC Technology Company, Tata Consultancy Services Ltd., Rackspace Technology, Inc., AT&T, Inc., and Verizon Communications, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Enterprise Size
- Large Enterprises
- Small & Medium Enterprises (SMEs)
- IT & Telecom
- Retail & eCommerce
- Government & Defense
- Media & Entertainment
By Deployment Type
- Managed Data Center & IT Infrastructure
- Managed Network & Communication Services
- Managed Mobility Services
- Managed Information Services
- Business Process Outsourcing (BPO)
- Business Support Systems
- Project & Portfolio Management
- Managed Security Services
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- IBM Corporation
- Atos Group
- Accenture PLC
- Fujitsu Limited
- Cisco Systems, Inc.
- DXC Technology Company
- Tata Consultancy Services Ltd.
- Rackspace Technology, Inc.
- AT&T, Inc.
- Verizon Communications, Inc.
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