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What Is The Projected Market Size & Growth Rate Of The Managed Services Market?
There has been a significant expansion in the size of the managed services market in the past few years. The market size is projected to increase from $290.89 billion in 2024 to $309.02 billion in 2025, symbolizing a compound annual growth rate (CAGR) of 6.2%. Factors such as cost efficiency, the requirement for scalability, emphasis on core competencies, the intricacy of IT environments, and globalization are accountable for this rise during the historic period.

Over the coming years, the market size of managed services is expected to experience a swift surge. The market is projected to reach a worth of $510.24 billion by 2029, growing at a compounded annual growth rate (CAGR) of 13.4%. This surge in the forecast period can be linked to the escalation in the intricacy of Information Technology (IT) atmospheres, the emergence of cyber threats, remote workforce administration, the influx of cloud adoption, and a concentration on business continuity. Key trends for the forecast period encompass service customization, obtaining data analytics and insights, a keen emphasis on customer experience, managing compliance, and the demand for scalability.

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What Is The Crucial Factor Driving The Global Managed Services Market?
The growth of the managed services market is anticipated to be fueled by the rising number of small and midsize businesses (SMB). A small business is defined as an enterprise with less than 100 employees, while midsize businesses encompass organizations boasting 100 to 999 employees. In order to effectively manage their IT infrastructure, cybersecurity, and network management without the need for internal technical expertise, these small and midsize enterprises necessitate managed services. This helps them concentrate more on their primary business operations. For example, GOV, a United Kingdom government services and information provider, reported in October 2022 that the number of small businesses rose to 5.47 million and medium-sized businesses to 35,900 in 2022, marking a jump from the previous year. Hence, the growth of the managed services market is being driven by the escalating number of small and midsize businesses (SMB).

Who Are The Emerging Players In The Managed Services Market?
Major players in the Managed Services include:

. Huawei Technologies Co Ltd.
. Verizon Communications Inc.
. AT&T Inc.
. Accenture plc
. International Business Machines Corporation (IBM)
. Deloitte AG
. Cisco Systems Inc.
. Fujitsu Global Limited
. Tata Consultancy Services Limited
. Ericsson AB

What Are The Key Trends Shaping The Managed Services Industry?
Leading corporations in the managed services industry are concentrating on developing managed service solutions. Their main goal is to assist businesses in seamlessly controlling their IT environments and directing their attention to primary tasks. Artificial intelligence (AI) signifies the evolution of computer systems or machines capable of undertaking tasks that normally mandate human intelligence. To illustrate, Happiest Minds Technologies Ltd, a firm based in India, inaugurated WATCH360 in July 2024. This AI-integrated platform was created to streamline IT infrastructure management for various organizations. WATCH360, fueled by ELLIPSE, leverages AI and machine learning to deliver real-time insights and automatic workflows, thereby boosting overall IT productivity. The service guarantees 24/7 management of IT infrastructure, assuring dependability and ongoing support. WATCH360 oversees numerous IT components ranging from servers, databases, network and security appliances, to cloud-native services.

What Segments Are Covered In The Managed Services Market Report?
The managed servicesmarket covered in this report is segmented –

1) By Service Type: Managed Security Services, Managed Network Services, Managed Data Center And IT Infrastructure Services, Managed Communication And Collaboration Services, Managed Mobility Services, Managed Information Services, Other Service Types
2) By Deployment model: Cloud, On-Premises
3) By Organizational Sizes: Large Enterprises, Small And Medium-sized Enterprises (SMEs)
4) By Application: BFSI, IT And Telecom, Retail And Consumer Goods, Manufacturing, Government, Healthcare And Life Sciences, Energy And Utilities, Media And Entertainment, Other Applications

Subsegments:
1) By Managed Security Services: Threat Monitoring and Management, Incident Response, Security Compliance Management
2) By Managed Network Services: Network Monitoring and Management, WAN Optimization, Network Design and Implementation
3) By Managed Data Center and IT Infrastructure Services: Data Center Management, Server Management, Backup and Disaster Recovery
4) By Managed Communication and Collaboration Services: Unified Communication Solutions, Video Conferencing Services, Collaboration Tools Management
5) By Managed Mobility Services: Mobile Device Management (MDM), Mobile Application Management (MAM), Endpoint Security for Mobile Devices
6) By Managed Information Services: Data Analytics and Business Intelligence, Information Governance, Document Management Services
7) By Other Service Types: Managed Print Services, Managed Cloud Services, IT Help Desk and Support Services

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Which Region Is Projected To Hold The Largest Market Share In The Global Managed Services Market?
In 2024, North America led in the Managed Services market, with Asia-Pacific projected to experience the most rapid growth in future. The report on Managed Services market comprises of regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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