BANGALORE, India, April 29, 2020
BANGALORE, India, April 29, 2020 /PRNewswire/ -- Managed services refer to a third-party IT contractor otherwise known as a managed service provider(MSP), handling some or all of the IT needs of a company. The managed services involve outsourcing the responsibility of a range of functions and processes to a third-party MSP to run, maintain, and improve operations. This practice helps cut cost and enhance overall efficiency. Managed Service Providers create an SLA with their clients. Managed Services SLA determines the quality of service the company can expect, and how the performance can be evaluated.
The global Managed Services Market size is projected to grow from USD 178.5 billion in 2019 to USD 309.4 billion by 2025, at a CAGR of 9.6% over the forecast period.
Adopting managed services is intended to be an effective way of keeping up-to-date on technology, getting access to expertise and resolving cost, service quality and risk-related issues. The technology components of many SMBs and large companies have been shifted to the cloud, MSPs (managed service providers) are increasingly facing the cloud computing challenges.
TRENDS INFLUENCING THE MANAGED SERVICE MARKET SIZE
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MANAGED SERVICE MARKET SHARE ANALYSIS
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In the competitive analysis section of the report, leading as well as prominent players of the global Managed Services market are broadly studied on the basis of key factors.
THE FOLLOWING PLAYERS ARE COVERED IN THIS REPORT:
MANAGED SERVICES MARKET BREAKDOWN DATA BY TYPE
MANAGED SERVICES MARKET BREAKDOWN DATA BY APPLICATION
SIMILAR REPORTS :
● Cloud Managed Services Market
The global Cloud Managed Services market size was USD 28.520 Billion in 2019 and is forecast to hit USD 50.080 billion by the end of 2026, at a CAGR of 8.3 percent in 2021-2026.
Increasing emphasis on mobility coupled with a need to focus on core business functions, would drive the growth of cloud managed service market size. The demand for scalability and reliability will also increase demand for the services, as it will enable businesses to scale up and down their operations by providing custom-made solutions to the services available.
● Managed Services Software Market
The Managed Services Software market size is projected to rise from USD 180.5 billion in 2018 to USD 282.0 billion by 2023, at a CAGR of 9.3% over the forecast period.
● Telecom Managed Services Market
The global Telecom Managed Services Market size was USD 11.890 billion in 2019 and is forecast to hit USD 20.190 billion by the end of 2026, at a CAGR of 7.8 percent in 2021-2026.
● Managed Security Services Market
The Managed Security Services Market size is projected to be USD 40.97 billion by 2022, growing at a CAGR of 16.6 percent in the 2016-2022 forecast period.
The demand for the managed security services market is gaining momentum, as data protection is becoming a major concern. The business knowledge network constantly faces advanced threats from various organizations. Leading industry players in the managed security services sector are developing hi-tech and more secure solutions to protect companies from these attacks. Therefore, product launch is the most anticipated approach pursued by the leading players in the industry.
● AWS Managed Services Market
During the forecast period, North America is expected to hold a significant share of the global AWS Managed Services market. Business growth in the area stems mainly from the rapid adoption of AWS in the region's multiple industry verticals.
This study focuses on AWS Managed Services Market outlook, growth potential, key industry and key players. The study aims to present the growth of Managed Services Software in North America, Europe, China, Japan, Southeast Asia, India and Central & South America.
● IoT Managed Services Market
The growth of IoT-managed services market size is heavily dependent on IoT being adopted by industries. The factors driving the global IoT-managed services market are the industry-wide adoption of IoT, growing managed cloud service, among others, increasing government spending in projects such as smart cities.
● IT Managed Services Market
Factors such as high cloud adoption and increased automation in IT environments and continued growth in demand for managed services among SMEs are expected to fuel the IT Managed Services Market size.
IT Managed Services are third-party providers offering support and creative IT technology and network maintenance and monitoring solutions. Implementation of IT-managed services dramatically
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