Managed Services Market

Managed Services Market Trends: The Future of IT Outsourcing

In terms of revenue, the managed services market is predicted to increase from USD 275.5 billion in 2023 to USD 372.6 billion by 2028, with a compound yearly growth rate (CAGR) of 6.2% throughout the forecast period. Managed services relate to the outsourcing of specific business operations or functions to third-party companies. These providers, known as MSPs, are in charge of administering, monitoring, and optimising these services, allowing businesses to focus on their core skills. Managed services cover a wide range of topics, including IT infrastructure management, cybersecurity, cloud computing, network monitoring, data storage, and system administration.

The Managed Services Market is undergoing a significant transformation, with several key trends emerging:

  • Cloud Adoption and Migration
  • Cybersecurity Focus
  • Artificial Intelligence and Automation
  • Remote Workforce Management
  • Hybrid IT Environments
  • Data Analytics and Business Intelligence
  • Internet of Things (IoT) Management
  • Compliance and Regulatory Support
  • Customized Service Offerings
  • Disaster Recovery and Business Continuity
  • Advanced Networking Solutions
  • Sustainability and Green IT
  • Vendor and Technology Consolidation
  • End-to-End IT Services
  • Focus on Small and Medium Enterprises (SMEs)
  • Focus on Sustainability

To know about the assumptions considered for the study download the pdf brochure

  1. Cloud Adoption and Migration
    • Increasing shift towards cloud computing as businesses look to reduce costs, improve scalability, and enhance flexibility.
  2. Cybersecurity Focus
    • Rising importance of managed security services due to the growing threat landscape, including sophisticated cyberattacks and data breaches.
  3. Artificial Intelligence and Automation
    • Integration of AI and machine learning to automate routine tasks, enhance service delivery, and improve decision-making processes.
  4. Remote Workforce Management
    • Increased demand for managed services to support remote work infrastructure, including VPNs, remote desktop solutions, and collaboration tools.
  5. Hybrid IT Environments
    • Growth in hybrid IT environments combining on-premises, private, and public cloud resources, necessitating comprehensive management solutions.
  6. Data Analytics and Business Intelligence
    • Emphasis on leveraging data analytics and BI tools within managed services to provide insights and drive strategic decision-making.
  7. Internet of Things (IoT) Management
    • Expansion of managed services to include IoT device management, ensuring connectivity, security, and performance of IoT ecosystems.
  8. Compliance and Regulatory Support
    • Increased need for managed services to help businesses comply with complex regulatory requirements and industry standards.
  9. Customized Service Offerings
    • Development of tailored managed services to meet specific industry needs, such as healthcare, finance, and retail.
  10. Disaster Recovery and Business Continuity
    • Focus on managed disaster recovery and business continuity planning to ensure resilience against disruptions.
  11. Advanced Networking Solutions
    • Adoption of SD-WAN and other advanced networking solutions as part of managed services to improve network performance and reliability.
  12. Sustainability and Green IT
    • Growing consideration of sustainability practices within managed services, promoting energy-efficient and environmentally friendly IT solutions.
  13. Vendor and Technology Consolidation
    • Trend towards consolidating multiple vendor solutions and technologies under a single managed service provider for simplified management.
  14. End-to-End IT Services
    • Increasing preference for comprehensive, end-to-end IT service management, encompassing everything from infrastructure to application support.
  15. Focus on Small and Medium Enterprises (SMEs)
    • Managed service providers targeting SMEs with affordable and scalable solutions to support their growth and digital transformation.

Related Reports:

Managed Services Market by Service Type (Managed Security Service, Managed Network Service, and Managed IT Infrastructure and Data Center Service), Deployment Type (On-premises and Cloud) Vertical and Region - Global Forecast to 2028

Managed Services Market Size,  Share & Growth Report
Report Code
TC 3070
RI Published ON
9/5/2023
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