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According to a new report, published by KBV research, The Global Managed Services Market size is expected to reach $372.8 billion by 2027, rising at a market growth of 7.7% CAGR during the forecast period.
The Large Enterprises segment is leading the Global Managed Services Market by Enterprise Size in 2020, thereby, achieving a market value of $229.3 billion by 2027. Large enterprises deal with a lot of data that needs to be kept up to date and accessible both locally and remotely. In addition, multinational companies are gradually relying on managed security services to maintain and monitor their corporate data security. Managed security services are the most sought service by enterprises in the region, owing to an increase in cyber-attacks and less built infrastructures to identify breaches. A large firm in APAC could suffer a significant loss as a result of a cyber-attack or data breach.
The IT & Telecom segment has shown a growth rate of 6.5% during (2021 - 2027). The expansion of virtual chat-box services based on AI and IoT platforms, as well as big data, is predicted to accelerate rapidly. Various businesses are also introducing voice and non-voice services that include a virtual chat box. This method aids in the management of a variety of operations, including human resources outsourcing, marketing, email marketing, sales, and customer service. To establish an automated workflow, MSPs integrate conversational interfaces like voice-enabled chat bots into their customer support apps.
The On-premise segment acquired maximum revenue share in the Global Managed Services Market by Deployment Type in 2020, thereby, achieving a market value of $228.2 billion by 2027. The on-premise model of deployment has been chosen by many enterprises since it does not require an internet connection and enables easy customization of software to meet the business process needs of clients. Additionally, the on-premise deployment aids in enhancing operational efficiency and establishing a control center within a company for efficiently coordinating and controlling various project management activities and business processes.
The Managed Mobility Services segment is showcasing a CAGR of 10.5% during (2021 - 2027). Managed mobility services help firms manage and optimize their mobile workforce's performance. The growing popularity of the Bring Your Device (BYOD) pattern among organizations has increased organizational efficiency by allowing employees to access company content regardless of time or location, allowing them to serve better to their customers. With solutions like sourcing & logistics management, data security and privacy, IT and process services, and telecom expenditure management managed mobility services help businesses run more efficiently.
North America is the fastest growing region in the Global Managed Services Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $126.7 billion by 2027. The Europe market is estimated to grow at a CAGR of 7% during (2021 - 2027). Additionally, The Asia Pacific market would witness a CAGR of 8.4% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/managed-services-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
By Enterprise Size
By Deployment Type