Global Managed Services Market Size (Volume and Value) And Growth to 2026 Shared in Most recent Research

Rapid proliferation of smart devices and rising internet penetration are major factors expected to push the demand for managed services in the years ahead. Alongside, favorable government initiatives for fast-paced adoption of cloud computing services will also lend a positive impetus to the global Managed Services Market share. As per the latest research conducted by Global Market Insights, Inc., this business space is projected to exceed USD 350 billion by 2026.

Managed services support companies in shifting the complete business operations and processes to partner companies to strengthen business efficiency and improve operational quality. This surging emphasis on outsourcing of network monitoring, maintenance, and cybersecurity by major market players will play a pivotal role in boosting the industry outlook.

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For instance, Lightstream Managed Services introduced Managed Security Services in October 2020 for its potential customers. These services consist of multiple security modules like edge defense, access defense, cloud defense, and endpoint defense. This will help businesses in managing various risks related to the enterprise infrastructure and in turn, help the company to augment its managed service offering.

Speaking of risks, the budding technological advancements are encouraging enterprises to deploy additional tools and services to protect their business, further increasing the demand for managed backup and recovery service. The global managed services industry size from the managed backup and recovery service segment is anticipated to register significant growth in the coming years as it helps businesses in analyzing the complete business environment and allow the businesses to operate in a hassle-free manner.

Due to the need for additional business efficiency and flexibility, the energy and utility enterprises segment is poised to witness notable growth in the coming years. Furthermore, the utility sector is observing rising vulnerabilities that are reported to affect infrastructure processes and control systems, propelling businesses to adopt managed infrastructure, network, and security services to maintain their focus on the main business operations.

The global managed services industry is depicting expansion in various regions like Europe, the U.S., Canada, among others. Of these, the Europe managed services market is set to hold a 20% share through 2026, driven by the extensive digitization and mounting cyber incidents that are pushing enterprises to adopt managed security services.

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To cite this with an example, the Hiscox Cyber Readiness Report 2019 showed that the cyberattacks on organizations in the UK amplified from 40% to 55% in 2018. Also, the big market players like Atos SE and Thales Group, offer managed security services and are growing their partner network to provide services to customers from unserved regions.

Furthermore, the ongoing COVID-19 pandemic has fueled the worldwide managed services industry share growth. The large enterprises have adopted remote work culture, in response to the COVID-19 crisis. Traditionally, the IT teams have the responsibility of monitoring and maintaining the complete infrastructure and make changes as per the business requirement. But, due to the pandemic, the organizations are adopting various managed services as well, to deal with increasing proliferation of work-from-home culture. To that end, the large enterprise segment that held the highest market share in 2019 is predicted to witness a substantial expansion.

 

For instance, Cerillion, a customer management, charging, and billing provider, performed well in all areas despite the pandemic as it quickly transitioned to remote delivery teams and successfully closed new sales by leveraging the virtual engagement models.

 

To sum up, with the businesses transitioning to modern enterprise infrastructure to allow processing of critical work processes along with the adoption of cloud, big data analytics, and IoT devices, managed service providers aim to manage and monitor infrastructural changes.

 

Browse key industry insights spread across 270 pages with 259 market data tables and 25 figures & charts from the report, Managed Services Market in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/managed-services-market

Report Content

Chapter 3   Managed Services Industry Insights

3.1    Introduction

3.2    Industry segmentation

3.3    Impact of COVID-19 outbreak

3.3.1    Impact by region

3.3.1.1    North America

3.3.1.2    Europe

3.3.1.3    Asia Pacific

3.3.1.4    Latin America

3.3.1.5    Middle East & Africa

3.3.2    Impact by value chain

3.3.3    Impact by competitive landscape

3.4    Technological evolution

3.5    Industry ecosystem analysis

3.6    Technology & innovation landscape

3.6.1    Managed Software as a Service

3.6.2    Security as a Service

3.6.3    Managed Software as a Service

3.7    Regulatory landscape

3.7.1    MEF 3 0 SD-WAN Service Attributes and Service Definition Standard

3.7.2    The National Institute of Standards and Technology (NIST), U

3.7.3    European Telecommunications Standards Institute (ETSI) GS NFV -IFA 008

3.7.4    The Open Compute Project and OPNFV

3.7.5    ISO/IEC 270001

3.7.6    IEEE SDN/NFV Standardization

3.8    Industry impact forces

3.8.1    Growth drivers

3.8.1.1    Rising penetration of cloud computing services

3.8.1.2    Growing demand to reduce administration and maintenance costs

3.8.1.3    Surging need for improved network connectivity

3.8.1.4    Lack of IT resources and in-house expertise

3.8.1.5    Growing government spending on ICT sector

3.8.2    Industry pitfalls & challenges

3.8.2.1    Dependency on in-house workforce across the SMEs

3.8.2.2    Data privacy and security conncerns

3.9    Porter’s analysis

3.10    PESTEL analysis

3.11    Growth potential analysis

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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