New York, March 31, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Multi-Vendor Support Services Global Market Report 2023" - https://www.reportlinker.com/p06438998/?utm_source=GNW
, Zensar Technologies Ltd., Lenovo, Abtech Technologies, Oracle, Fujitsu, CXtec, Curvature, Citycomp, Broadcom, Quantum Corp, Blue Sky Group Ltd., Softcat plc, Evernex Group SAS, NEC Corporation, Clear Technologies Inc., OnX Enterprise Solutions, Symantec Corporation, Citrix Systems Inc., Park Place, Ensure, MCSA Group and Banjo.
The global multi-vendor support services market grew from $59.74 billion in 2022 to $62.12 billion in 2023 at a compound annual growth rate (CAGR) of 4.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The multi-vendor support services market is expected to grow to $71.97 billion in 2027 at a CAGR of 3.7%.
The multi-vender support services market includes revenues earned by entities by providing services such as consulting, education, management of the information systems or telecommunications systems, systems planning, development, integration and maintenance and training.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Multi-vendor support services refer to services that provide a single point of contact for customers’ hardware and software maintenance support. Multi-vender support services are used by businesses to support their products from other manufacturers by reducing downtime by streamlining problem identification and resolution across the business environment.
North America was the largest region in the multi-vendor support services market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the multi-vendor support services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main type of multi-vendor support services includes hardware support services and software support services.The hardware support services offer hardware services to expand and extend the base warranties for data center and endpoint systems by delivering high-quality world-class services and networking hardware services.
The services are applied in sales and marketing, financial and accounting, supply chain, IT operations, and others both small & medium-sized enterprises and large enterprises. The verticals using the service include banking, financial services & insurance, telecom & IT, media & entertainment, travel & logistics, and others.
A significant increase and presence of technology providers will propel the growth of multi-vendor support services during the forecast period.The need for IT enterprises and skills is rising as technology continues to permeate every area of the commercial and business environment, and this demands vendor support services for effective technology implementation.
For instance, in 2021, CDS, a provider of multi-vendor services (MVS) for data centers introduced Commit, a new channel program to bring multi-vendor services to leading solution providers. This global channel program was designed to help solution providers offer enterprise customers the most advanced, comprehensive, and complementary infrastructure services.
Demand for multi-vendor support services by telecom operators is a new trend gaining popularity in the multi-vendor support services market.To offer services suitable for 2G/3G/4G, future 5G mobile, data, TV, fixed line, and unified communications, communication service providers (CSPs) are developing complicated multi-vendor networks (UC).
For instance, in September 2021, Vodafone successfully tested a system with the help of Benu Networks, Casa Systems, Cisco, and Nokia that would make it quicker and simpler to deploy faster-fixed broadband services to both new and current customers throughout Europe. This is a step in enabling the present monolithic, single-supplier broadband gateways to benefit from increased technical innovation from a more varied supply chain that is called Disaggregated BNG technology will alter the way the broadband networks are created.
In September 2021, Service Express, a US-based data center solutions provider, acquired The ICC Group for an undisclosed amount.With this acquisition, Service Express and ICC group will use their experience to deliver complete multivendor services in the UK.
The acquisition also strengthens Service Express in UK service offerings and gives clients more tools to manage expenses and improve infrastructure strategy. The ICC Group is a UK-based company providing multivendor experience in hardware maintenance and managed services.
The countries covered in the multi-vendor support services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The multi-vendor support services market research report is one of a series of new reports that provides multi-vendor support services market statistics, including multi-vendor support services industry global market size, regional shares, competitors with a multi-vendor support services market share, detailed multi-vendor support services market segments, market trends and opportunities, and any further data you may need to thrive in the multi-vendor support services industry. This multi-vendor support services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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