DUBLIN–(BUSINESS WIRE)–The “Managed Services Market Size, Share – Growth, Trends, and Forecasts (2020 – 2025)” report has been added to ResearchAndMarkets.com’s offering.
The managed services market is anticipated to witness a CAGR of approximately 11.27% over the forecast period of 2020 – 2025
Enterprises and government organizations across the world are moving from test environments to place more of their work-critical workloads and compute instances into the cloud. Further, owing to the rapidly increasing adoption of IoT, cloud, and Big Data analytics across multiple organizations as a major part of their digital transformation strategy, the burden on the data centers is also increasing. This is leading to the growth of the market.
The managed services, for cloud, IoT platforms, containers, DevOps, and Big Data, are expected to hold tremendous potentials for managed service providers during the forecast period. Additionally, according to Cisco, 46% of network devices are likely to be machine-to-machine or IoT, by 2020, which are vulnerable to attacks.
The global market for managed services is expected to witness a high demand for managed mobility and information services. There has been a tremendous shift in focus towards the managed services and their applications for both the short and long-term strategic decisions. It is estimated that successful deployment of managed services will help in reducing IT cost by 25-45% and will also increase the operational efficiency by 45-65%.
Additionally, over the past few years, organizations have been actively amending their strategies to get the maximum benefit out of managed services. For instance, in the past years it has been observed that organizations are increasingly focusing on the reduction of cost by cutting down the number of suppliers and reducing the payment size. As a result, the demand for bundled services has gained immense traction in the market over the discrete offerings.
According to an IBM security analysis quoted in IT World Canada, misconfigured servers accounted for approximately 86% of the 8.5 billion records that were compromised last year on a global level. Although the number of misconfigured incidents decreased in 2019 as compared to 2018, the total number of records affected increased.
Misconfigurations can occur across many paths, including the cloud storage, open internet-connected network area storage devices, and improperly secured sync backups. To mitigate these misconfigurations, enterprises across the world are adopting managed service providers.
Key Market Trends
Increasing Shift to Hybrid IT is Expected to Drive the Market
The adoption of IoT solutions, which connects hardware devices, embedded software, communication services, and managed services, and offers smart communication environments, smart transportation, such as smart homes, smart healthcare is expected to drive the market during the forecast period.
Moreover, according to a recent Microsoft report “IoT signals” (published in July 2019), which features a survey of more than 3,000 IoT decision-makers in enterprise organizations, suggests that IoT adoption is rising rapidly and is leading to considerable business transformation.
According to the report, 85% of the surveyed enterprises are actively adopting IoT solutions, while over 88% of the see IoT as critical to business success. Also, businesses adopting IoT believe to witness a 30% ROI on their IoT projects. Additionally, critical technology factors, driving IoT success in the next two years, are likely to be AI (Artificial Intelligence), edge computing, and 5G, followed by digital twins and blockchain.
Additionally, enterprise mobility trend has emerged over the years. The companies today are primarily focusing on business strategies and core competencies, fueling the utilization and adoption of bring-your-own-device (BYOD). This increases the requirement of streamlined mobility services, which is likely to boost the demand for managing these mobile devices.
Asia-Pacific is Expected to be the Fastest Growing Market
The digital transformation has become a top priority in China and it is moving at a rapid pace, as a greater number of companies are implementing formal strategies to support their efforts. China Telecom has mentioned that in 2013, cloud computing was only worth 3% of China’s enterprise IT market, and it is expected to grow up to 20% by 2020.
The managed services market is consolidated, and it is dominated by major players. Some of the major players in the market are Cisco Systems Inc., IBM Corporation, Microsoft Corporation, Fujitsu Ltd, and Wipro Ltd, among others.
Key Topics Covered:
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness – Porter’s Five Forces Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers/Consumers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increasing Shift to Hybrid IT
5.1.2 Improved Cost and Operational Efficiency
5.2 Market Challenges
5.2.1 Integration and Regulatory Issues and Reliability Concerns
6 MARKET SEGMENTATION
6.1 By Deployment
6.2 By Type
6.2.1 Managed Data Centre
6.2.2 Managed Security
6.2.3 Managed Communications
6.2.4 Managed Network
6.2.5 Managed Infrastructure
6.2.6 Managed Mobility
6.3 By Enterprise Size
6.3.1 Small- and Medium-Enterprises
6.3.2 Large Enterprises
6.4 By End-user Vertical
6.4.2 IT and Telecommunication
6.4.4 Entertainment and Media
6.4.8 Other End-user Verticals
6.5 By Geography
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Fujitsu Ltd
7.1.2 Cisco Systems Inc.
7.1.3 IBM Corporation
7.1.4 AT&T Inc.
7.1.5 HP Development Company LP
7.1.6 Microsoft Corporation
7.1.7 Verizon Communications Inc.
7.1.8 Dell Technologies Inc.
7.1.9 Nokia Solutions and Networks
7.1.10 Deutsche Telekom AG
7.1.11 Rackspace Inc.
7.1.12 Tata Consultancy Services Limited
7.1.13 Citrix Systems Inc.
7.1.14 Wipro Ltd
7.1.15 NSC Global Ltd
8 INVESTMENT ANALYSIS
9 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/9wmzbb
Laura Wood, Senior Press Manager
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