Managed Services Market

New product launches and upgradations; and partnerships, agreements, and collaborations 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 growing reliance of enterprises on IT assets and the need for dedicated managed services providers who can offer cost-effective managed services and proactively monitor IT resources to eliminate 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).

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The study includes an in-depth competitive analysis of the key players in the managed service market, along with their company profiles, recent developments, and key market strategies. The players in this market have embraced different strategies to expand their global presence and increase their market shares. New product launches and upgradations; and partnerships, agreements, and collaborations, have been the most dominating strategies adopted by the major players, which helped them innovate their offerings and expand their audience

With growing importance of the managed services to manage highly complex IT infrastructures and upkeep 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 September 2018, AT&T launched a suite of blockchain solutions for helping organizations in automating and digitalizing their business processes by leveraging the advantages of blockchain technologies. Moreover, in February 2017, AT&T signed an agreement with Avnet, wherein AT&T’s IoT managed services would be offered as a part of Avnet’s growing IoT solutions stack.

Fujitsu is also a leading player in the global managed services market. The company has been undertaking massive transformation to accelerate its market presence. With response to the growing demands of the enterprises, in May 2017, Fujitsu enhanced its Global Managed Security Service to help organizations strengthen their responsiveness towards rising cyber-attack. Moreover, Fujitsu will also offer Resilience Enhancement Support Service to help companies improve their business processes. The company has been undergoing massive transformation to accelerate its market presence. Furthermore, in same month of May 2017, Fujitsu signed a strategic collaboration agreement with Mirantis, a provider of managed open cloud services, to deliver the Private Managed OpenStack Cloud. As per this agreement, Mirantis open stack cloud model, aligned with Fujitsus hardware and software offerings, would facilitate large enterprises to adopt open cloud with confidence.

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
RI Published ON
10/31/2018
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