Global IT Managed Services Market to Grow CAGR of 8.38% during the forecast

Posted by DenMark on February 8th, 2018

 “IT Managed Services Market: Global Demand Analysis & Opportunity Outlook 2023”

IT managed services are used to optimize the budget of IT organizations. These services further serve various purposes such as flexible delivery of IT services to end-user client. In addition to that, IT managed services also help an organization to formulate a time saving, efficient and productive working model to enhance outputs by reducing operational cost. Further, these managed services are used to manage, monitor and solve the issues related to the business.

Global IT Managed Services Market is expected to register a CAGR of 8.38% over the forecast period. Moreover, the global IT managed services market was valued at USD 138.6 Billion in 2016. Factors such as positive growth in IT industry, growing digitalization and increasing penetration of smartphone users are expected to drive the growth of IT managed services market.

North-America accounted for the highest share in global IT managed services market in 2016. Further, North-America IT managed services market is projected to flourish at a CAGR of 7.29% over the forecast period. Factors such as positive growth in IT sector, growing concern towards business compliance, advancement in IT resources and infrastructure are increasing the need for IT managed services in the region.

Asia-Pacific IT managed services market is showcased to grow at a significant rate over the forecast period. Further, Asia-Pacific is forecasted to account for the highest market share by the end of 2023. The expansion of IT sector in Asia-Pacific is one of the major reasons which are expected to upsurge the demand for IT managed services over the next five to six years.

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Enhanced connectivity infrastructure

Rising connectivity between businesses and consumers through various platforms is anticipated to create spiked demand for IT managed services in the next few years. Further, technological advancement in internet connectivity is expected to accelerate the growth of IT managed services market during the forecast period.

Rising Demand in Various End Use Industries

Increasing digitization in various end use industries such as healthcare, retail, BFSI, IT & ITES sector and other is anticipated to foster the growth of IT managed services market. Moreover, various sectors such as corporates and others are adopting smart infrastructure to boost the productivity of the employee. This factor is envisioned to strengthen the market of IT managed services over the forecast period.  Although, high cost of advanced IT software and hardware and rising data safety and privacy concerns are some of the major factors that are likely to hamper the growth of the IT managed services market in the near future.

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The report titled “IT Managed Services Market : Global Demand Analysis & Opportunity Outlook 2023” delivers detailed overview of the global IT managed services market in terms of market segmentation by services type, by end-use application, by end user and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

This report also provides the existing competitive scenario of some of the key players of the global IT managed services market which includes company profiling of Siemens Corporation, Dell Technologies, IBM Corporation, Alcatel Lucent, Microsoft Corporation, Cisco Systems Inc., Hewlett Packard Enterprise and Accenture. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global IT managed services market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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