According to Goldstein Research, “Growing digitization and rising need to utilize IT resources efficiently are the key factors driving growth of IT managed services market.” Growing demand for IT managed services and solutions in healthcare and education sector on the back of increasing IT healthcare and education across the globe is expected to drive the growth of IT managed service market.
The global IT managed services market is segmented based on services and by applications. End users segment is further bifurcated into BFSI, manufacturing sector, telecom and IT sector, education sector and aerospace and defence. In 2016, IT and telecom industry accounted for the largest revenue share in global IT managed and service market owing to growing need of IT resources and managed services in large enterprises of IT sector.
The global IT managed services market is expected to increase at a CAGR of 9.4% over the forecast period i.e. 2016-2024. The global IT managed services market is accounted for USD 154.3 billion in 2016 and anticipated to reach USD 249.4 billion by 2024.
Regionally, North America accounted for the highest revenue share in global IT managed service market in 2016. North America IT managed services market is growing significantly owing to positive growth in IT sector, advancement in connectivity solutions. United States IT managed service market accounted for the largest market share across the North America region. Further, North America IT managed services market expected to thrive at a CAGR of 3.6% over the forecast period.
Emergence of big data and IoT: Major Boost
Most of the IT managed service providers constantly focus on taking advantage of technology innovation. Most solutions and service providers are started looking into that area where they have end-to-end control. IoT has significantly increased the need for more efficient IT managed services coupled with the growing IoT ecosystem. Additionally, IT companies are deploying various managed services at large scale for data management, network management and to increase business efficiency.
“Global IT Managed Services Market Outlook 2024” contains detailed overview of the global IT managed services market in terms of market segmentation by services type and by end users.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global IT Managed Services Market Report also provides competitive outlook of some of the major players which includes profiling of companies such as Siemens Corporation, Dell Technologies, IBM Corporation, Alcatel Lucent, Microsoft Corporation, Cisco Systems Inc., Hewlett Packard Enterprise, Accenture etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global IT managed services market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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