Managed Services Market Projected To Reach USD 731.08 Billion By 2030

 San Francisco, 4 Sep 2024: The Report Managed Services Market Size, Share, & Trends Analysis Report By Solution, By Managed Information Service (MIS), By Deployment, By Enterprise Size, By End-use, By Region, And Segment Forecasts, 2024 - 2030

The global managed services market size is projected to reach USD 731.08 billion by 2030, according to a new study conducted by Grand View Research, Inc. The market is anticipated to grow at a CAGR of 13.6% from 2023 to 2030. Strengthening profit margins, which cater efficiently to the needs of dynamic business environments, and improvements in operational efficiency are also expected to contribute to the growth of the market. Benefits associated with managed services implementation, such as a significant reduction in IT operational expenses and increased organizational efficiency, are also anticipated to drive market growth.

Managed services help reduce recurring in-house IT expenditures by ensuring the IT infrastructure is running at optimal efficiency at all times while also automating business operations. This subsequently allows organizations to effectively achieve their business objectives, especially pertaining to strengthening the bottom line and increasing profitability. These initiatives also help various end-users, such as expert-led architectural design reviews, public sector, and government organizations to address unique digital transformation and accelerate cloud adoption.

For instance, in July 2023, MongoDB, Inc., a developer of the data platform, announced MongoDB Atlas for the public sector, an initiative that enables government agencies and public sector organizations to develop modern, data-driven applications that better serve end-users at MongoDB.local for government solutions platform. As part of the new initiative, public sector organizations can access tailored technology partnerships, expert-led architectural design reviews, and specific data to provide tailored technology training.

Several businesses encountered challenges due to the COVID-19 pandemic, and managed services providers (MSPs) were no exception. Organizations globally opted for managed services to ensure operational efficiency amid lockdowns being implemented across various nations due to coronavirus. Organizational spending on new automation initiatives gradually slowed down during the pandemic.

Access Research Report of Managed Services Market @ https://www.grandviewresearch.com/industry-analysis/managed-services-market

Managed Services Market Report Highlights

• In terms of solution, the managed security segment is anticipated to register the fastest CAGR of 14.7% over the forecast period owing to the adoption of managed security servicesin end-use industries. This segment offers various benefits such as security monitoring & management, email threat management, restoral management & backups, and support & maintenance management, among others
• In terms of managed information services, the business support systems segment is anticipated to register the fastest CAGR of 14.2% from 2023 to 2030. The increasing adoption of business support system services such as business analysis, database integration, demand management service, and project management in end-use industries is anticipated to propel the growth of the segment over the forecast period
• In terms of deployment, the on-premise segment dominated the market in 2022 with a revenue share of 64.4%. Numerous organizations have adopted the on-premise mode of deployment as it does not require an internet connection and allows easy customization of software to suit the business process requirements of clients
• Based on enterprise size, the small & medium enterprises (SMEs) segment is anticipated to register the fastest CAGR of 14.3% from 2023 to 2030. Increasing government initiatives through various digital SME campaigns globally is expected to drive the growth of the SME segment over the forecast period
• In terms of end-use, the healthcare segment is anticipated to register the fastest CAGR of 14.7% over the forecast period. Several healthcare organizations are opting for managed services to protect patient data and secure monetary transactions, thereby contributing to the segment's growth
• In terms of region, North America held the largest market share in 2022 with a revenue share of over 30%. The rising number of multinational companies (MNCs) in North America bodes well for the regional market growth

Managed Services Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 299.01 billion
Revenue forecast in 2030	USD 731.08 billion
Growth rate	CAGR of 13.6% from 2023 to 2030
Actual data	2018 - 2023
Forecast period	2024 - 2030

List of Key Players in Managed Services Market

• Accenture
• Atera Networks Ltd.
• ARYAKA NETWORKS, INC.
• AT&T Inc.
• BMC Software, Inc.
• Broadcom
• Cisco Systems, Inc.
• DXC Technology Company
• Fujitsu
• HCL Technologies Limited
• HP Development Company, L.P.
• International Business Machines Corporation
• Lenovo
• ScalePad Software Inc.
• Telefonaktiebolaget LM Ericsson

Access Press Release of Managed Services Market @ https://www.grandviewresearch.com/press-release/global-managed-services-market

About Grand View Research

Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.

For More Information: https://www.grandviewresearch.com/horizon