United States Managed Services Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

New York, July 01, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "United States Managed Services Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06101235/?utm_source=GNW


- The United States market is growing due to the changing landscape of IT infrastructure, especially in small and medium enterprises (SMEs), who are continually focusing on outsourcing cybersecurity solutions. For instance, Kpaul Properties Llc, one of the emerging manufacturers and distributors of IT supplies in the US, onboarded Fujitsu to replace a physical server with a virtualized environment. This has reduced the company’s cost by around 15% and delivered 95% uptime.
- According to Solarwinds, in North America, Server and storage hardware, endpoint devices, and networking gear solution offerings dominate in MSP, especially in the US region. Through their managed security offerings may be lacking, most solution providers serve up security point products in the form of network and endpoint hardware and software.
- With the speedy acceleration of modern technology and the need for streamlined IT functions, an increasing number of businesses in the region are finding it best to keep pace with the help of MSP.
- In the region, companies are integrating IT solutions tailored to business needs by providing a full assessment of the IT environment and delivering the solutions needed to solve complex business challenges at every stage of the business lifecycle. For instance, Managed Solution, a US company, integrated technical skillsets and the right resources to discover challenges, diagnose problem areas, and custom design, deliver, and execute a comprehensive technology roadmap based on needs, making customers more secure, compliant and efficient.

Key Market Trends
Deployment on the Cloud is Excepted to Grow Significantly

- Cloud technology is increasingly being used to create new platforms to improve businesses’ digital transformation. However, the application of a multi-cloud environment can be a challenge for multiple enterprises due to their lack of skill and infrastructure. The cloud managed services providers have enabled such businesses to adopt the technology into their processes, with consumption-based pricing models offering easy and affordable scaling.
- Considering the advantages that the cloud offers, businesses seek managed service providers (MSPs) with partnerships with cloud providers (such as Google, AWS, Microsoft, etc.) to choose the right cloud providers to migrate to the cloud and manage cloud services after the transition.
- Companies, such as Cisco, have been leveraging this trend by strategizing partner programs. For instance, Cisco launched a cloud and managed services program (CMSP) to help partners gain customer relevance (i.e., the customer demand for integrated services for the cloud) through valued benefits for delivering Cisco Powered cloud services.
- In addition, businesses are increasingly shifting from on-premise to cloud to boost productivity. They also face the need to enhance and safeguard identity and content management. Cybersecurity attacks are rising in sophistication, and a shortage of skills means that many companies are struggling to manage security in-house. Owing to these factors, businesses are increasingly relying on the expertise of third-party cloud-based security and infrastructure providers.
- Similarly, companies need timely and targeted analytics on existing data; many rely on a stream of insights based on data mining, exploration, and prediction. Therefore, shifting the data on the cloud from legacy databases benefits the companies to streamline their operations and modernizing companies’ data platforms.

Demand from BFSI segment is Expected to Witness Significant Growth

- Securing information and managing data integrity are the prime challenges for organizations in the United States. With new and emerging threats, financial institutions are seeking banking infrastructure and technology services that protect sensitive data with robust security solutions and protect them from future threats, risks, and vulnerabilities.
- Thus, it is evident that BFSI is emerging as the most rapidly transforming area in adopting innovative digital solutions that are beneficial to both banks and financial institutions and their customers.
- Many organizations increasingly see outsourcing as an indispensable way to drive new developments into the enterprise. Also, it is becoming a means of potentially attaining and maintaining a competitive advantage, which has provided support for the growth of managed services in the BFSI sector.
- Moreover, banks and financial institutions strive to deliver elevated customer experiences, drive real-time payments, optimize risk management, and meet financial regulations. They reach out to managed service providers to provide them with agile and versatile solutions.
- The United States is gearing up on instant payment system infrastructures such as RTP, which offers speed of payment, ubiquity, extensive data exchange, real-time messaging, and 24/7/365 availability. With the help of these capabilities, real-time payments can help improve cash flow, operational efficiencies, customer engagement, data transparency, and accuracy. For instance, according to Federal Deposit Insurance Corporation, RTP deposit reach by the state in the first quarter of 2021 showed South Dakota covering 81-100% of domestic deposits at all branches in the state.

Competitive Landscape
The United States managed services market is consolidated, and major players dominate it. Some of the major players in the market are Cisco Systems Inc.?, IBM Corporation, Microsoft Corporation, and Fujitsu Ltd.

- January 2021 - Expereo was certified as an Advanced partner of Cisco’s Cloud and Managed Services Program (CMSP). The certification accredits Expereo as an expert Managed Service Provider (MSP) and attests to the company’s capabilities of supporting customers throughout the whole network implementation journey, from design transition to management of SD-WAN.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Read the full report: https://www.reportlinker.com/p06101235/?utm_source=GNW

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