HOME Research Insight IBM (US) and Cisco (US) are the Managed Services Market

IBM (US) and Cisco (US) are the Managed Services Market

The managed services are adopted by companies across the globe due to the increasing need to focus on core competencies and because the cloud deployment is going mainstream. Thus, due to the rising trend of digitalization and mobility among enterprises worldwide, the managed services providers are increasing their efforts to enhance services and boost their revenues. The strategic partnership is an important strategy adopted by the key market players to develop new services and gain traction in the managed services market. MarketsandMarkets forecasts the managed services market to grow from USD 152.45 Billion in 2017 to USD 257.84 Billion by 2022, at a CAGR of 11.1%.

Managed services include managed security services, managed network services, managed communication and collaboration services, managed data center services, managed IT infrastructure services, managed mobility services, and managed information services. There are several renowned vendors in the managed services market, such as IBM (US), Cisco (US), Accenture (Ireland), Fujitsu (Japan), Atos (France), Tata Consultancy Services (India), Wipro (India), Huawei (China), HCL (India), Ericsson (Sweden), Nokia Networks (Finland), DXC Technology (US), Dimension Data (South Africa), Unisys (US), and Netmagic (An NTT Communications Company) (India). These players have adopted various strategies such as partnerships, collaborations, agreements, mergers and acquisitions, and new product developments to achieve growth in the computer aided dispatch market.

IBM, with great prominence in the managed services market space around the globe, is aspiring to become the top market provider of managed services focusing on network services and information services. IBM offers a broad array of services that include technology, consulting, and financing services to cater to the needs of different industries across the world. Considering the rising demand for IT infrastructure services within enterprises, IBM has built a comprehensive portfolio for managed services. The managed services spectrum includes integrated infrastructure services, managed network services, mobility, communication and collaboration services, and managed security services. In February 2016, IBM expanded its services portfolio with the launch of over 25 services on IBM cloud. The launch is expected to benefit the enterprise clients with the management and deployment of web and mobile applications.

Cisco is one of the leading managed service providers catering its diverse clientele scattered across different industry verticals with its wide spectrum of managed services, including network services, data center services, collaboration services, and security services. In August 2017, Cisco acquired San Jose based Software-Defined Wide Area Network (SD-WAN) company, Viptela. The acquisition will help Cisco to expand its SD-WAN portfolio with improved flexibility and simplicity delivered through the cloud.

Related Reports:

Managed Services Market by Service Type (Managed Security Services, Managed Network Services, Managed Data Center Services), Deployment Type, Organization Size, Vertical, and Region - Global forecast to 2022

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