Wilmington, Delaware, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Global Multi-Vendor Support Services Market value is estimated at US$ 14.6 billion in 2023 and is expected to grow at a significant CAGR of over 2.8% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
The global multi-vendor support services market is anticipated to grow at a moderate CAGR of around 2.8% during the forecast period of 2023-2030. Businesses are constantly deploying new IT technologies to improve efficiency and competitiveness. This has led to increasingly complex and heterogeneous IT environments, which can be difficult to manage and support. Multi-vendor support services providers can help businesses simplify the management of their IT infrastructure and reduce costs.
Original equipment manufacturers (OEMs) typically charge high prices for maintenance and support services. Multi-vendor support services providers can offer businesses a more cost-effective alternative to OEM support. Moreover, Multi-vendor support services providers can help businesses reduce the complexity of IT support and maintenance by providing a single point of contact for all of their IT needs. This can free up IT staff to focus on more strategic initiatives.
- According to a deep-dive market assessment by RationalStat, the global multi-vendor support services has been analyzed on the basis of market segments, including type, crop type, application and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global multi-vendor support services covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global multi-vendor support services. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Multi-Vendor Support Services Market: Segmental and Market Share Analysis
- On the basis of type, the managed segment dominates the global multi-vendor support services market. Managed multi-vendor support services providers can help businesses to reduce their IT costs, improve their IT uptime and performance, and free up their IT staff to focus on more strategic initiatives.
- Based on application, the IT and telecommunication segment dominates the global multi-vendor support services market.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 14.6 billion |
| Market Size Forecast | US$ 17.7 billion |
| Growth Rate | 2.8% |
| Key Market Drivers |
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| Dominating Region |
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| Dominating Segment |
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| Companies Profiled |
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global multi-vendor support services include,
- In August 2023, Google Cloud and HashiCorp Partner to Provide Multi-Vendor Support Services. Google Cloud and HashiCorp, a Google technology partner, have announced a partnership to provide multi-vendor support services.
- In June 2023, Red Hat and Ericsson announced a collaboration to test network functions and platforms for next-generation services in multi-vendor environments. This collaboration will help service providers launch next-generation services more quickly in a multi-vendor environment.
Some of the prominent players and suppliers operating and contributing significantly to the global multi-vendor support services growth include IBM Corporation, Oracle Corporation, Microsoft Corporation, Clear Technologies, Inc, Dell Technologies Inc, Evernex Group SAS, Hewlett Packard Enterprise Co, Quantum Corp, Blue Sky Group Ltd, and Softcat plc, among others.
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RationalStat has segmented the global multi-vendor support services market based on type, application, and region.
- Global Multi-Vendor Support Services Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
- Professional
- Managed
- Global Multi-Vendor Support Services Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
- IT & Telecommunication
- BFSI
- Healthcare
- Energy & Power
- Industrial Manufacturing
- Others
- Global Multi-Vendor Support Services Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Multi-Vendor Support Services Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- US
- Canada
- Latin America Multi-Vendor Support Services Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Multi-Vendor Support Services Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Multi-Vendor Support Services Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Multi-Vendor Support Services Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Multi-Vendor Support Services Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Multi-Vendor Support Services Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
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Key Questions Answered in the Multi-Vendor Support Services Report:
- What will be the market value of the global multi-vendor support services by 2030?
- What is the market size of the global multi-vendor support services?
- What are the market drivers of the global multi-vendor support services?
- What are the key trends in the global multi-vendor support services?
- Which is the leading region in the global multi-vendor support services?
- What are the major companies operating in the global multi-vendor support services?
- What are the market shares by key segments in the global multi-vendor support services?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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