New York, USA, May 26, 2021 (GLOBE NEWSWIRE) -- A latest report on the global managed services market has been added by Research Dive to its offerings. As per the report, the market is projected to hit $4,10,707.9 million and rise with a remarkable CAGR of 11.1% from 2020 to 2027. The report offers a comprehensive lookout of the present scenario and future scope of the global industry. The report is drafted by expert market analysts and guarantees to be a trustworthy source of data and all-inclusive market insights for new entrants, investors, existing market players, stakeholders, shareholders, etc.
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COVID-19 Impact on the Market Growth:
The rise of the COVID-19 pandemic in 2020 made a positive impact on the growth of the managed services market. This is because several companies are increasingly adopting managed services for smooth functioning of organizational processes in the work from home working model amidst the crisis period.
Check out How COVID-19 impacts the Global Managed Services Market. Click here to Connect with our Analyst to get more Market Insight: https://www.researchdive.com/connect-to-analyst/388
Factors Impacting the Market Growth:
Growing implementation of cloud technology in several organizations in various work processes is boosting the growth of the global managed services market. Several companies are adopting work from home model during the pandemic condition. By using cloud managed services, companies can effectively monitor the work flow in a systematic way. This factor is likely to unlock profitable opportunities for the market growth during the forecast period. However, dearth of experienced labors to implement cloud managed services is expected to obstruct the market growth.
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The report segments the global managed services market into organization size, deployment type, service type, industry vertical, and region.
Large Enterprises Sub-Segment to Dominate the Market Growth
Among the organization size segment, the large enterprises sub-segment is projected to grab highest market share by growing with a CAGR of 10.1% during the forecast period. The growth of this sub-segment is mainly because managed services are affordable and enable continuous monitoring of the work flow in large organizations having huge quantities of data.
Cloud Sub-Segment to Observe Highest Growth
Among the deployment type segment, the cloud sub-segment is expected to experience highest growth with a CAGR of 12.5% during the forecast period. The growth of this sub-segment is mainly because of the increasing implementation of cloud technologies by many organizations owing to its various benefits.
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Data Center and IT Infra Services Sub-Segment to Offer Rewarding Growth Opportunities
Among the service type segment, the data center and IT infra services sub-segment is expected to offer rewarding opportunities and grow with a CAGR of 11.8% during the forecast period. The growth of this sub-segment is mostly because managed services help companies in maintaining important data or service backups and store it in more than one location.
IT Sub-Segment to Observe Speedy Growth
Among the industrial vertical segment, the IT sub-segment is expected to experience speedy growth with a CAGR of 11.6% during the forecast period. The growth of this sub-segment is mostly because of the growing adoption of managed services in the IT industries for performing numerous operational processes in house or in cloud premises.
North America Region to Unlock Profitable Growth Opportunities
The report analyzes the global managed services market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the North American region market is expected to open profitable opportunities, rising with a CAGR of 10.2% during the estimated period. The growth of this region market is mainly owing to the existence of a large pool of companies in this region that demand managed services for smooth functioning.
Major Players in the Market:
• IBM
• HCL
• TCS
• Atos
• AT&T
• Cisco
• Fujitsu
• Ericsson
• Accenture
• Dimension Data
For instance, in January 2021, Accelirate Inc., a company focused on helping companies accelerate automation within their business processes, announced the launch of novel managed services for enterprise automation. This service is developed to help organizations in monitoring, supporting, and managing their bot infrastructure using Accelirate's L1 and L2 Robotic Operations Center (ROC) resources.
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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