Managed Services Market Worth 257.84 Billion USD by 2022
According to new market research report "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", published by MarketsandMarkets™, the market size is expected to grow from USD 152.45 Billion in 2017 to USD 257.84 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 11.1% during the forecast period.
Growing IT infrastructure of enterprises and growing number of compliances are the driving factors for managed services market. Moreover, increase in the adoption rate of cloud deployment among Small and Medium-sized Enterprises (SMEs), have led to the adoption of managed services.
Telecom and IT vertical is expected to contribute to the largest market share during the forecast period
Telecom industry has seen a substantial rise in the past few years following the rapid technological development in the field of ICT. Telecom operators need to innovate to retain customers in the competitive market and tap new markets to expand. To increase the focus on innovation and efficiency, the operators outsource their IT infrastructure, and business needs to managed service providers. Managed service providers handle the telecom operator needs by leveraging them to focus on the core competencies to innovate products, improve service, and extend the reach of business models. Partnering with MSPs, benefit the operators by assigning staff for the strategic operations, gain more efficient network that leverages both network infrastructure and the data center, keep pace with latest advancements in technology, and develop and deploy new services more rapidly. Managed services in the IT industry has seen an increasing trend following the competition in the market. The enterprises outsource their IT needs such as IT infrastructure, network, security, mobility, and communication needs to the MSPs so as to focus on their core competencies and increase their efficiency.
Did you know Marcum Technology is a leading provider of Managed Services across a multitude of industries?