The global multi-vendor support services market is predicted to surpass USD 62.57 billion at 3.6% CAGR over the assessment period (2018-2023).
— Market Analysis
Multi-vendor support services market are professional services that are provided to a client company for the goods which is manufactured by the service provider and deployed at the site of the client and also for goods that other firms manufacture. This allows an enterprise in centralizing all their service requirements and do not require depending on multiple service providers for troubleshooting issues associated to their IT infrastructure. Multi-vendor service providers offer the same levels of support as OEMS yet with the added advantages of single point of contact, faster support response and lower maintenance cost.
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There are ample factors that is boosting the growth of the multi-vendor support services market. These factors in accordance to the Market Research Future (MRFR) report include growing use of advanced and new ICT systems and tools, strong need of keeping business processes operative and attaining 100% uptime, rising OEM services’ maintenance costs, rapidly changing IT infrastructure, growing demand for centralized support services, growing requirement for support services of new levels and reducing IT support as well as maintenance complexities. Stiff competition owing to growing number of service providers, higher concerns over security, privacy issue and sharing credential data and loss of control especially over IT assets are factors that may restrict the growth of the multi-vendor support services market over the assessment period.
MRFR report offers a wide segmental analysis of the multi-vendor support services market on the basis of business application, service type, industry vertical and organization size.
Based on service type, the multi-vendor support services market is segmented into software and hardware. Of these, the hardware segment will have the largest share in the market over the assessment period.
Based on business application, the multi-vendor support services market is segmented into production, IT operations, human resource, supply chain management, financial and accounting, sales and marketing and others. Of these, supply chain management will have a major share in the market over the assessment period.
Based on organization size, the multi-vendor support services market is segmented into small and medium sized enterprises and large enterprises. Of these, small and medium sized enterprises will lead the market over the assessment period.
Based on vertical, the multi-vendor support services market is segmented into media and entertainment, energy and utilities, travel and logistics, manufacturing, telecom and IT, healthcare and life sciences, retail and consumer goods, BFSI and others. Of these, BFSI will domineer the market over the assessment period.
Leading players profiled in the multi-vendor support services market include Abtech Technologies (US), NetApp (US), Lenovo (Hong Kong), Hitachi (Japan), NEC (Japan), Fujitsu (Japan), Microsoft (US), Dell (US), HP (US), and IBM (US).
May 2019- Voss Partners has joined hands with AudioCodes for unveiling direct routing support for the Microsoft team. Voss-4-UC will simplify the ownership, operation and management of multi-vendor solution of the best-of-breed where Microsoft and Cisco applications and devices are deployed. It will cater to the different needs of users via leveraging the complete capabilities of every system for delivering the finest experience and at the same time optimize the existing licensing costs. Through this latest improvement, VOSS Direct Routing will enable the existing users with Microsoft’s productivity as well as collaboration tools to be used with telephony controls and services of Cisco Call Management solution for delivering multi-vendor UC experience that suits the needs of the organization specifically.
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By region, the multi-vendor support services market covers growth opportunities and latest trends across Rest of the World, Asia Pacific, North America and Europe. Of these, North America will domineer the market over the assessment period. This region is highly advanced with regards to development as well as use of innovative technologies in the ICT (Information and Communication Technology) sector. This region has immense potential for revenue generation especially from consumer goods industry, retail, BFSI and others that is boosting the growth of the multi-vendor support services market here. The US is the key contributor here. The multi-vendor support services market in the APAC region is predicted to grow at the fastest pace over the assessment period. Growing digitalization here in IT and telecom and BFSI sectors is likely to propel the market growth in this region. India, Japan and China are the key contributors here with regards to market share. This trend is prognosticated to continue in the forthcoming years.
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