The market is expected to expand at a CAGR of 8.38% during the forecast period of 2016-2023. Further, the global IT managed services market was valued
The global IT managed services market is segmented into services type such as data center & network management services, desktop management services, server management services, install, move, add, change (IMAC), IT maintenance services and IT hardware support services. Among these segments, data center & network management services segment is expected to dominate the overall IT managed market during the forecast period. Increasing number of connectivity across the globe coupled with growing tech savvy population across the globe is anticipated to foster the growth of data center & network management services segment.
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.
The IT & ITES segment by end-user is estimated to register a CAGR of 7.0% during the forecast period. Moreover, IT & ITES segment is expected to account for the largest share of revenue across the globe. Expansion of IT & ITES companies in developing nations is growing the demand for IT managed services. Further, advancement in IT industry and increasing business competitiveness in IT sector is anticipated to retain the growth of IT managed services market.
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.
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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.
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.
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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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Source: EIN Presswire