Managed Services Market

Key players have adopted various growth strategies, such as partnerships, agreements, and collaborations, and new product launches in Managed Services Market

The global managed services market size is expected to grow from USD 180.5 billion in 2018 to USD 282.0 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 9.3% during the forecast period. The major factors driving the growth of managed services market are the increasing dependence of organizations on IT assets and the need for specialized managed services providers who can provide cost-effective managed services and reduce the chances of service downtime.

The major managed services vendors include IBM (US), Fujitsu (Japan), Cisco (US), Accenture (Ireland), Atos (France), DXC (US), AT&T (US), Ericsson (Sweden), Cognizant (US), HCL (India), Infosys (India), Huawei (China), (India), Tech Mahindra (India), Capgemini (France), Dimension Data (South Africa), Wipro (India), Unisys (US), GTT Communications (US), Nokia Networks (Finland), Netmagic (India), Rackspace (US), Dataprise (US), Happiest Minds (India), and Cycops (India). These players have adopted various growth strategies, such as partnerships, agreements, and collaborations, and new product launches, to further expand their presence in the global managed services market. Partnerships and new product launches have been the most dominating strategies adopted by the major players from 2015 to 2018, which have helped them innovate their offerings and broaden their customer base.

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In line with the rising importance of the managed services to manage complex IT infrastructures and maintain system uptime, AT&T has been working efficiently to deliver secure and reliable managed services to its customers across different industry verticals, such as finance, healthcare, retail, public sector, transportation, hospitality, and manufacturing. The company strongly focuses on its organic and inorganic growth and has adopted several business strategies, such as new solution launches, acquisitions, business expansions, and agreements to enhance its service portfolio and cater to the dynamic needs of its clients. For instance, in August 2018, AT&T acquired AlienVault, a leading provider of unified security management solutions, to strengthen its business division of cybersecurity solutions. Moreover, in November 2017, AT&T signed an agreement with Shell to provide managed communications and network integration services globally.

Huawei is another top player in the global managed services market. The company has signed more than 500 managed service contracts and collaborated with various global companies to achieve unmatched expertise in the managed services market. Moreover, the company has executed several partnerships, acquisitions, product developments, and enhancements. For instance, in June 2018, Huawei launched FusionCloud 6.3, a next-generation, enterprise-class, full-stack private cloud solution, for helping organizations with cloud migration and digital transformation across verticals. Moreover, Huawei partnered with Global Switch in April 2017 to build modular data centers and provide smart operations and maintenance for improving the efficiency in data centers.

Related Reports:

Managed Services Market by Service Type (Managed Security Services, Managed Network Services, Managed IT Infrastructure and Data Center Services), Vertical, Organization Size, Deployment Type, and Region - Global Forecast to 2023

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Report Code
TC 3070
Published ON
Oct, 2018
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