Global IT Managed Services Market Outlook
Market Overview
IT managed services are the services provided by the third party to provide support and innovative solutions for managing and monitoring IT infrastructure and networks. Services include cloud computing, data storage, improving efficiency and handling customers IT work. It also helps the organization by providing time efficient and productive working model for better operational efficiency. Implementation of IT managed services reduces the IT cost considerably, improves organizational flexibility and provides technical advantage for better client and customer services. The IT managed services can be determined on the basis of key end users like banking & finance, education, healthcare, manufacturing, energy industry etc. Penetration of big data, cloud computing providing efficient business models significantly accelerated the need and growth of IT managed services. High tractions of private cloud based service in small enterprises also impelled the growth of IT managed services market. However, data privacy and security concerns might restrain the market’s growth, as the reliability of a managed service provider might not be examined properly.
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Market Segmentation
- By Services Type
o Data Center & Network Management Services
o Desktop Management Services
o Server Management Services
o Install, Move, Add, Change (IMAC) Services
o IT Maintenance Services
o IT Hardware Support Services
- By End Users
o BFSI (banking, Finance Services And Insurance)
o Manufacturing Sector
o Telecom and IT Sector
o Education Sector
o Healthcare Sector
o Aerospace and Defense
o Others (Retail, Logistics etc.)
- By Geography
o North America (US, Canada) {Market Share (%), Market Size (USD Billion)}
o Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion)}
o Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of Middle East & Africa) {Market Share (%), Market Size (USD Billion) }
o Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion) }
o Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion) }
o Rest of the World{Market Share (%), Market Size (USD Billion) }
Growth Drivers and Challenges
Advancement in technology and services like cloud computing, big data, mobility services among others which is providing cost efficiency, flexibility to the enterprises and improved profit margins are the primary key growth drivers for the global IT managed services market. Increasing inclination and adoption of IT managed services by SMEs (Small and Medium Enterprises) also providing pace to the growth of global IT managed service market. Moreover, big market players leveraged their size to expand their market share. Over the past few years companies with revenue more than USD 2 billion have experienced the fastest and huge growth rate in market share. To acquire larger market, these companies leveraged their size, deploying industrialized models across multiple regions that, in turn enabled them to secure larger IT managed services market. For instance, the big market players such as IBM, Accenture, Cap Gemini and CSC have successfully developed industrialized delivery centers across multiple geographies, majorly in IT managed services area that are platform based on preconfigured solutions and are highly automated and reliable.
Market Size and Forecast
Global managed IT services market is expected to expand at a CAGR of 9.4% during the forecast period of 2016-2024. Further, the global IT managed services market was valued at USD 145.3 billion in 2016 and the market is projected to reach USD 249.4 billion by the end of 2024. Global managed IT services market is majorly driven by expansion of IT industry and enhanced connectivity technologies.
Geographically, North America accounted for the highest revenue share in global IT managed services market in 2016 and further market is expected to expand at a CAGR of 3.6% over the forecast period owing to technological advancements in IT resources and enhanced infrastructure in IT management. Asia Pacific is expected to be the fastest growing IT managed services market during forecast period owing to rapid adoption of new technologies in fastest growing economies and developed countries such as Japan, Korea, China and India among others.
Key Market Players
- Siemens Corporation
o Synopsis
o Business Strategy
o Product Portfolio
o SWOT Analysis
- Dell Technologies
- IBM Corporation
- Alcatel Lucent
- Microsoft Corporation
- Cisco Systems Inc.
- Hewlett Packard Enterprise
- Accenture
Scope Background
Market Synopsis
Market Segmentation
Global IT managed services market is segmented as follows:
- By Services Type (Market Size, Demand Analysis and Growth Analysis)
- By End Users Type (Market Size, Demand Analysis and Growth Analysis)
Global IT Managed Services Market Report covered insights of below mentioned regions:
- North America (U.S., Canada) {Market Size, Growth Analysis and Opportunity Analysis}
- Latin America (Argentina, Mexico, Brazil and Rest of Latin America) {Market Size, Growth Analysis and Opportunity Analysis}
- Europe (Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe) {Market Size, Growth Analysis and Opportunity Analysis}
- Asia-Pacific (China, India, Singapore, Japan, Australia, New Zealand, South Korea and Rest of Asia Pacific) {Market Size, Growth Analysis and Opportunity Analysis}
- Middle East and North Africa (MENA) {Market Size, Growth Analysis and Opportunity Analysis}
- Rest of World {Market Size, Growth Analysis and Opportunity Analysis}
Market Dynamics: Growth Drivers, Restraints and Opportunities
- Risk Factors
- Regional Variations
- Recent Trends and Developments
Key Market Players
- Synopsis
- Business Strategy
- Product Portfolio
- SWOT Analysis
Porter’s Five Force Model
Market Landscape: Competition and Beyond
Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem
Expert Analysis
Concluding Remarks
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Table of Contents
- Executive Summary
- Research Methodology
- Regional Opportunity Analysis on the basis of Competitors
- Global IT Managed Services Market Size (USD Billion) and Forecast Analysis, 2016-2024
- Market Dynamics: Growth Drivers, Restraints and Opportunities
- Global IT Managed Services Market Segmentation
- Competitive Outlook
- Porter’s Five Force Model
- Market Landscape: Competition and Beyond
- Market outlook for business players and entry level players to ascertain their business in dynamic ecosystem
- Expert Analysis
- Concluding Remarks
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