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Saturday, 13 August 2022 02:52 GMT

Pandemic Accelerates The United States And Puerto Rico IT Managed Services Market Demand By 2028

(MENAFN- America News Hour)

Research Nester has released a report titled “The United States and Puerto Rico IT Managed Services  Market – Demand Analysis & Opportunity Outlook 2028″ which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.

Digital banking user base in the United States, as a percentage of the total country's population, increased by around 3% in 2020 from 2018. The value was 61% in 2018.

The high adoption of new and innovative IT technologies in the financial services, healthcare, media and entertainment and healthcare sectors, is expected to offer new avenues for market growth in the forthcoming years. In addition, the implementation of IT managed services in small & medium sized enterprises (SMEs) is estimated to help the organizations significantly as it reduces the requirement to maintain an IT infrastructure and provides them with ample financial benefits. These are some of the most crucial factors considered to drive the market growth over the forecast period, i.e., 2020-2028. The market in the United States is anticipated to grow with a CAGR of 11% during the forecast period and garner a revenue of USD 174,853.6 million by 2028, and the market in Puerto Rico is projected to grab a revenue share of USD 973.3 million by 2028 and record a CAGR of 7.5% during the forecast period.

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The market is segmented on the basis of enterprise size, service type, deployment and industry vertical. Based on enterprise size, the segment for large enterprises in the United States is expected to occupy the largest revenue of USD 1,08,552.3 million by the end of 2028, up from USD 46,569.3 million in 2019. Factors such as large revenue pool and presence of strong company architecture are predicted to foster the demand for managed services for this market segment's expansion. Furthermore, the SME segment in the U.S. is evaluated to witness a growth rate of 11.9% during the forecast period owing to the growing number of startups, and high usage of cloud-based technologies in these organizations.

Geographically, the United States IT managed services market is segmented into six major regions, including the West U.S., Northeast U.S., Southeast U.S., Southwest U.S., and Midwest U.S. Backed by the high demand for IT managed services, the overall market in the region is estimated to rise significantly in the near future. Moreover, the market in the West U.S., in particular, is anticipated to observe the highest CAGR of 11.7% during the forecast period ascribing to the increasing need for cost-friendly IT budgets to enforce IT managed services across companies, and rising adoption of sophisticated technologies in various industrial sectors in the region.

However, the surge in the number of data breaches and cyber-security threats and the lack of skilled IT professionals in estimated to obstruct the growth of the market in the future.

This report also provides the existing competitive scenario of some of the key players of the United States and Puerto Rico IT managed services market, which includes company profiling of IBM Corporation, Infosys Limited, Cisco System Inc., DXC Technology Company, Accenture PLC, Hewlett Packard Enterprise Development LP, AT&T Inc., Verizon Communications Inc, Dell Technologies Inc., Tata Consultancy Services Limited, Rackspace Technology, iNubo IT, CP CORP, and others.

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The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “The United States and Puerto Rico IT Managed Services Market – Demand Analysis & Opportunity Outlook 2028” , analyses the overall United States and Puerto Rico IT managed services industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the United States and Puerto Rico IT managed services market in the near future.

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