Managed Services Market Size, Latest Trends, and Forecast Report 2020-2027
Managed services are the outsourcing services which provide customer benefits such as business focus on core competencies, reduce expenses, and improvement of operational efficacy. Managed services are the alternative services for on-demand outsourcing model. These services provide various solutions to the customers including Managed Security, Managed Information, Managed Communication, Managed Backup & Recovery, Managed Infrastructure, Managed Mobility, Managed Network, and Managed Data Centers.
Managed services are the practice of outsourcing on a proactive basis certain processes and functions intended to improve operations and cut expenses. It is an alternative to the break/fix or on-demand outsourcing model where the service provider performs on-demand services and bills the customer only for the work done.
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Market Dynamics
Factors such as increasing reliance on IT operations and new applications to enhance business productivity, increasing need for specialized MSPs to manage complex IT infrastructure and reduce IT staffing cost, and strategically investing by implementing cloud-based managed services are expected to drive the growth of this market during the forecast period.
However, growing need for regulatory compliance across different regions, migrating the existing it infrastructure and its integration with new technologies, and concerns of organizations to entrust business operations on MSPs are some of the factors challenging the market growth during the forecast period.
Furthermore, increasing need to reduce downtime of systems and their associated applications, and need to access enterprise resources remotely are expected to offer growth opportunities in coming few years.
Drivers:Â Increasing dependency on IT operations and new applications to enhance business productivity
Technology has bought flexibility, automation and mobility in businesses. Business owners have been highly dependent on technology as it is assisting business to grow. A recent research stated that almost 48% of business owners believe that being able to run their business with mobile device was very important for them.
As technology advanced and globalisation took hold, larger companies became larger and began to have equally large IT networks. These organisations were the first to pave the way for managed IT services.
Integration of business and technology has also opened wide range of opportunities and led to the development of new-age companies like virtual assistant companies. As technology has made it possible to work remotely, virtual assistant companies bring mobility and convenience to remote working.
Managed services allow an organisation to offload certain IT operations. It assumes ongoing responsibility for monitoring, managing, updating and resolving issues related to selected IT systems and functions on your behalf.
Also, Increase in advancements in cloud-based technologies and technological proliferation is the key driving factor which is expected to boost the global managed services market growth. Furthermore, rise in demand for outsourcing management functions from cloud and managed service providers (MSPs) is expected to propel the growth of global managed services market. Moreover, increase in security concerns in IT sector by taking control over the networks and IT infrastructure of enterprises is expected to fuel the global managed services market growth. In addition to that, Managed services are helpful in improvement of operational efficacy, business focus on core competencies, and reducing expenses. Increase in technological advancements like big data analytics, cloud computing, and mobility services will have the positive impact on global managed services market growth.
Restraints: Commoditization of the sector
Commoditization is still an ongoing fear for many MSPs. It comes from âme-tooâ scenario, where almost all managed cloud service providers look alike. It becomes difficult for an MSP to outshine in this increasingly crowded cloud marketplace where all are offering similar tools and technologies, and multiple features at decreasing prices.
In such a situation, customers wait for the market to shake out and prices to stabilize. Making these customers buy is a challenge for MSPs as these customers find it difficult to identify differences, expertise, and capabilities and tend to go with brands or names they are familiar with. This is a missed opportunity on differentiation for MSPs struggling to stand out from the crowd.
However, increase in pressure from statutory regulations across the world is the main restraining factor which is expected to hamper the global managed services market growth. Also, lack of sales and marketing staff, training, and cyber security will affect the global managed services market growth.
Opportunities: Increasing need to reduce downtime of systems and their associated applications
System downtime can harshly affect any business. It has long been a cause of concern for IT companies around the world.
Unplanned downtime can negatively affect an organizationâs productivity, and reduce revenue. For instance, site downtime gives an impression that your organization is incapable of handling business disruptions, crises and emergencies. This can harm the business reputation and loyalty, thereby increasing the risk of losing clients and sales.
For IT companies looking to reduce their downtime, MSPs are the best fit. MSPs have a highly trained staff and follow the best practices to protect business data and mitigate downtime risks.
MSPs offer a proactive approach to threat detection and prevention. Unlike a break-fix model, they do not wait until an issue develops in your system before utilizing resources to resolve the problem.
MSPs use a range of tools and services to monitor the IT operations 24/7, which help them to detect systems issues before they cause downtime.
For instance, proactive MSPs often detect and mitigate security breaches quickly before they escalate to attacks. Thus, with 24/7 MSP support, the risk for downtime that could disrupt the business is pretty low.
Market Key Players
Various key players are discussed in this report such as Infosys, TCS, Nokia Networks, HCL, Cognizant, AT & T, DXC Technology, ATOS, Accenture, CISCO, FUJITSU, IBM, HUAWEI, CENTURY LINK, and Right to Win.
Market Taxonomy
By Solution
- Managed Security
- Managed Information
- Managed Communication
- Managed Backup & Recovery
- Managed Infrastructure
- Managed Mobility
- Managed Network
- Managed Data Centers
By Services
- Business Process Outsourcing (BPO)
- Business Support Systems
- Project & Portfolio Management
- Others
By Deployment Type
- On-Premise
- Hosted
By Enterprise Size
- Small & Medium Enterprise
- Large Enterprise
By End Use
- Retail
- Media & Entertainment
- Manufacturing
- IT & Telecommunication,
- Healthcare
- Government
- Financial Services
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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