Dublin, Jan. 14, 2025 (GLOBE NEWSWIRE) — The “Managed Services Market by Service Type (Managed IT Infrastructure & Data Center Service, Managed Network Service, Managed Security Service, Managed Communication & Collaboration Service, Managed Mobility, Managed Information) – Global Forecast to 2029” report has been added to ResearchAndMarkets.com’s offering.
The global managed services market will grow from USD 365.33 billion in 2024 to USD 511.03 billion by 2029 at a compounded annual growth rate (CAGR) of 6.9%
With information on the most accurate revenue estimates for the whole managed services industry and its subsegments, the research will benefit market leaders and recent newcomers. Stakeholders will benefit from this report’s increased understanding of the competitive environment, which will help them better position their companies and develop go-to-market strategies. The research offers information on the main market drivers, constraints, opportunities, and challenges, as well as aids players in understanding the pulse of the industry.
Managed services are transforming how organizations in healthcare, banking, manufacturing, and telecommunications handle their IT needs. For example, hospitals use managed IT services to enhance patient care by simplifying their processes and ensuring data security through continuous monitoring.
These services cover a wide range of IT tasks, including regular tracking, maintenance of systems, management of security, and technical support. An increasing number of organizations are turning to managed services to save money, increase productivity, and improve IT performance by outsourcing IT functions to skilled providers who provide 24/7 assistance, proactive monitoring, and customizable services tailored to fulfill their specific needs.
By managed security services, the managed detection & response segment holds the highest CAGR during the forecast period.
Managed Detection & Response (MDR) is a comprehensive cybersecurity services that combines advanced technology with human expertise to monitor and respond to threats in real-time. MDR provides continuous surveillance of an organization’s network, endpoints, and cloud environments, ensuring swift threat identification and mitigation. By outsourcing these tasks to an MDR provider, enterprises can maintain strong protection without investing more staff members.
For example, First State Community Bank implemented MDR services to improve its security infrastructure. By integrating MDR, the bank was able to better use its Cisco products, resulting in a more integrated security posture. This approach improved threat detection and response times, giving the bank a more proactive security posture while ensuring the safety of its customers’ data by outsourcing its managed security services to an expert provider.
The IT infrastructure & data center services segment holds the largest market share during the forecast period based on service type.
Managed IT infrastructure & data center services provided by third-party MSPs cover critical operations like server management, network monitoring, storage, and data center operations. By delegating these responsibilities to specialized providers, companies can concentrate on their primary business activities, knowing their IT systems are secure, adaptable, and well-maintained. MSPs handle essential operations such as cooling, power management, physical security, and adherence to industry standards. They also use strong safety protocols to guard against cyber attacks and illegal access, using advanced encryption, authentication utilizing multiple factors, and real-time threat detection.
For example, OnX supported a client in combining two data centers and virtualizing 175 physical servers into a lesser number than 40 Cisco UCS blade servers. This consolidation, backed by Cisco, EMC, and VMware, reduced the client approximately USD 1 million in operational expenses while increasing management efficiency. OnX offered additional managed services such as network monitoring, data backup, and troubleshooting, enabling the client to improve performance while concentrating on core company activities.
As businesses grow or their needs evolve, MSPs adapt the IT infrastructure and data center to meet new demands. By partnering with experienced MSPs, organizations benefit from professional management, enhanced security, and compliance, allowing them to concentrate on business growth and innovation.
Based on the managed mobility services, the mobile device management segment holds the second highest CAGR during the forecast period.
Mobile Device Management (MDM), a crucial component in managed mobility services which enables businesses in managing and protecting mobile devices in the workplace. MDM services assures that enterprises configure, monitor, set up and manage devices such as smartphones, tablets, and laptops.
By employing MDM, companies set security policies which restrict access to sensitive information based on user responsibilities and device compliance. MDM services include remote device management, allowing organizations to rapidly lock or delete lost or stolen devices. In addition, MDM assists in verifying that only authorized applications are deployed, reducing the possibility of malwar. These measures help to prevent unauthorized access and decrease the potential of data breaches, which leads to a safer work environment.
Conde Nast, a leading media organization, had significant issues controlling the mobile devices used by its field personnel, who reported maintenance concerns in many locations. At first, the company gave unmanaged Android cellphones which raised concerns over improper use and a lack of supervision. Understanding the requirement for an MDM solution, Security Manager Samuel Jimenez devised a plan to ensure that devices were only utilized for work-related duties simultaneously improving management efficiency.
After looking into several MDM systems, Jimenez decided to go with Hexnode for its user-friendly interface and powerful features, mainly the kiosk mode, which gave better control over accessible apps. Hexnode assisted Conde Nast in remotely monitoring devices, ensuring compliance with security requirements and facilitating the deployment of important applications.This change increased productivity while also offering assurance of data security.
Some of the significant managed services market vendors are IBM (US), Accenture (Ireland), Microsoft (US), Cisco (US), Fujitsu (Japan), TCS (India), Google (US), DXC Technology (US), Infosys (India), and Capgemini (France).
The report provides insights on the following pointers:
- Analysis of key drivers (ensures uninterrupted business operations which is crucial for maintaining competitiveness and meeting customer expectations), restraints (companies with legacy processes or deeply embedded in-house IT teams resist change due to fear of losing control or altering well-established workflows), opportunities (organizations often do not have in-house expertise to navigate complicated regulatory environments, requiring them to hire MSPs who specialize in compliance management), and challenges (integrating cloud solutions with legacy systems cause disruptions and increased costs, making some businesses reluctant to adopt cloud-based managed services).
- Product Development/Innovation: Comprehensive analysis of emerging technologies, R&D initiatives, and new service and product introductions in the managed services industry.
- Market Development: In-depth details regarding profitable markets: the paper examines the global managed services industry.
- Market Diversification: Comprehensive details regarding recent advancements, investments, unexplored regions, new goods and services, and the managed services industry.
- Competitive Assessment: Thorough analysis of the market shares, expansion plans, and service portfolios of the top competitors in the managed services industry, such as IBM (US), Accenture (Ireland), Microsoft (US), Cisco (US), Fujitsu (Japan).
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 414 |
| Forecast Period | 2024 – 2029 |
| Estimated Market Value (USD) in 2024 | $365.33 Billion |
| Forecasted Market Value (USD) by 2029 | $511.03 Billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Increasing Need to Minimize Downtime and Enhance Business Continuity
- Growing Emphasis on Security and Privacy
- Surging Demand for Continuous Technical Support
- Rising Need for Cost-Efficient IT Services
Restraints
- Paucity of Skilled IT Professionals
- Internal Bureaucracy and Slow Decision-Making
Opportunities
- Emphasis on Meeting Stringent Regulations and Compliance
- Surge in Adoption of Multicloud Services
- Increasing Need for Achieving Sustainability and Efficiency Goals
Challenges
- Transition to Cloud-based Services
- Integration and Maintenance Issues
Case Study Analysis
- Dxc Helped O-I Glass Create Modern Technology Experience for Employees
- Wafd Bank’s Partnership with Aws Assisted in Speeding Up Cloud Transition Process
- Dnb Unlocked New Business Outcomes and Enhanced Service Quality by Adopting Ericsson Operations Engine
- Case Study 4: Prostratus’ Partnership with Lumen Facilitated Efficient Interconnectivity and Management
- Rackspace Technology Helped Zachry Corporation Enhance IT Agility and Concentrate on Strategic Projects
Technology Analysis
- Key Technologies
- AI & ML
- Cloud Computing
- Big Data & Analytics
- Complementary Technologies
- 5G Technology
- Cybersecurity
- Virtualization
- Adjacent Technologies
- Blockchain
- IoT
- Edge Computing
Regulatory Landscape
- Regulatory Bodies, Government Agencies, and Other Organizations
- Regulations, by Region
- North America
- Europe
- Asia-Pacific
- Middle East & South Africa
- Latin America
- Regulatory Implications and Industry Standards
- General Data Protection Regulation
- Sec Rule 17A-4
- Iso/Iec 27001
- System and Organization Controls 2 Type II Compliance
- Financial Industry Regulatory Authority
- Freedom of Information Act
- Health Insurance Portability and Accountability Act
Porter’s Five Forces Analysis
Business Model Analysis
- Pricing Model
- Tiered Services Model
- Co-Managed IT Services Model
Impact of AI/Gen AI on Managed Services Market
- Industry Trends: Use Cases
- Rackspace Technology Optimized Humen.AI’s Infrastructure Through Containerization and Aws Management
- Top Clients Adapting to Gen AI
- IBM
- Ericsson
Managed Services Companies Featured
- IBM
- Accenture
- Microsoft
- Cisco
- Fujitsu
- Atos
- Tcs
- Dxc Technology
- Infosys
- Capgemini
- Hcl
- Ericsson
- Gtt Communications
- Ntt Data
- Happiest Minds
- Huawei
- Nokia
- Lumen Technologies
- Wipro
- Cognizant
- Bt
- Deloitte
- Secureworks
- Fortra
- Bae Systems
- Trustwave
- Hughes Network Systems
- Mettel
- Microland
- Intact Technology
- 1-Net
- Securekloud
- Ac3
- Corsica Technologies
- Empist
- Kyndryl
- Exc Managed Services
- Optanix
- Essintial Enterprise Solutions
- Ascend Technologies
- Aunalytics
- Cloud Specialists
- Atera
- Cortavo
- Magna5
- 7 Layer Solutions
- Cyberduo
For more information about this report visit https://www.researchandmarkets.com/r/99qcc7
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
