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What does this “Managed Services Market “report offers:- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support
Market Overview
The Managed Services Market is expected to record a CAGR of 10.8%, over the forecast period. The market for managed services is expected to witness a keen interest in information services and managed mobility. There has been a shift in focus towards managed services and their applications for both short and long-term strategic decisions. As managed services enable a company to access enhanced applications and services that could not be possible in-house, it helps them to target their core strategic area, while outsourcing the rest of the tasks to the service providers who possess the operational expertise in that domain.
- Managed services are majorly used to provide additional value for end-users in their respective business processes. Over the past few years, the network-cost model has been changing from an asset and liability-based model to a utility-based model.
- It is estimated that the year on year capital expenditure by small and medium businesses towards these services will increase by 25%. The market for SMBs and cloud services is expected to take a bigger share, despite the slow growth rate of the overall IT expenditure in SMBs.
- Organizations are focusing on cost reduction by cutting down the number of suppliers and are reducing the payment size. Over the past few years, bundled services have gained traction in the market over the discrete ones.
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Scope of the Report
Managed services refer to a concept wherein an organization’s in-house day-to-day management functions are managed by a third party service provider. Managed services involve outsourcing of services related to infrastructure, security, printing, mobility and other functions, while the ownership rights stay with the end-user.
Key Market Trends
Managed Security is expected to Hold a Significant Share
- Worldwide spending on security-related hardware, software, and services is forecast to reach USD 120 billion by 2022. Rising security threats, regulatory compliance, and fear of data breaches will continue to drive security investments across various industries. Many major organizations are adopting managed security services to help maintain security within an organization.
- Managed security services (MSSs) with advanced threat detection and remediation capabilities are enjoying high adoption rates. Connected devices are further expected to propel distributed denial of service (DDoS), and advanced persistent threat (APT) attacks. Thus, enterprises are seeking more proactive security measures to maintain security within an organization.
- In addition to traditional security services, many MSSPs have begun offering other advanced security services, be it managed advanced persistent threats (APT), application, cloud, mobile security, and advanced endpoint detection and response.
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Asia-Pacific is expected to Witness Rapid Growth
- Asia-Pacific is currently experiencing a high adoption of cloud owing to a large number of organizations moving from traditional business models to cloud-based infrastructure to modernize the organizations business process including a multitenant architecture. Digital transformation has become a top priority in Asia-Pacific, and an increasing amount of companies are implementing formal strategies to support their efforts.
- As more Asian enterprises and government agencies migrate their infrastructure to the cloud, MSPs can provide a variety of services to help these organizations address advanced persistent threat (APT), monitoring, and perform scheduled maintenance.
- Most customers in this region prefer MSSPs that have local security operations centres (SOCs) due to the requirements of data sovereignty and other security compliance regulations released by governments.
Competitive Landscape
The managed services market is highly competitive and consists of several major players. Many of the companies are increasing their market presence by introducing new solutions or services and securing new contracts.
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- January 2019 - Ericsson launched a new AI-based managed services offering for communications service providers, called the Ericsson Operations Engine. The Ericsson Operations Engine proactively and directly addresses service providers’ managed services complexity challenges as the industry moves towards an era of 5G and IoT.
Major Point of TOC:
Chapter One: INTRODUCTION
Chapter Two: RESEARCH METHODOLOGY
Chapter Three: EXECUTIVE SUMMARY
Chapter Four: MARKET DYNAMICS
Chapter Five: MARKET SEGMENTATION
Chapter Six: COMPETITIVE LANDSCAPE
Chapter Seven: INVESTMENT ANALYSIS
Chapter Eight: MARKET OPPORTUNITIES AND FUTURE TRENDS
About Us:
Analytical Research Cognizance is an initiation in this new era of “analysis @ thought.” We are on a mission to replace the conventional research programs and give way to the latest methods and information for the organizations. We have created this hub of analytical research papers where you can get an access to the latest and the best research papers coming out from some reliable and budding research houses.
Contact Info:
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Organization: Analytical Research Cognizance
Address: 100 Church Street, 8th floor Manhattan, New York, 10007
Phone: +1 (646) 434-7969, +91 90967 44448
Website: http://www.arcognizance.com/report/managed-services-market-size-share-growth-trends-and-forecast-2019-2024
Release ID: 88897018
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