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The global managed services market is projected to reach USD 731.08 billion by 2030, as per a recent study by Grand View Research, Inc. The market is expected to grow at a CAGR of 13.6% from 2024 to 2030. Key factors contributing to this growth include enhanced profit margins, improved operational efficiency, and the ability to cater effectively to the needs of dynamic business environments. Additionally, the benefits of managed services, such as reducing IT operational costs and improving organizational efficiency, are anticipated to drive market expansion.
Managed services help organizations reduce ongoing in-house IT expenses by ensuring optimal performance of IT infrastructure and automating business operations. This enables businesses to achieve key objectives, particularly in terms of improving profitability and strengthening the bottom line. These services also assist various end-users, including government organizations and experts in architectural design reviews, in addressing their unique digital transformation needs and advancing cloud adoption.
For example, in July 2023, MongoDB, Inc. launched MongoDB Atlas for the public sector, a platform that allows government agencies and public sector entities to create modern, data-driven applications. As part of this initiative, public sector organizations can access specialized technology partnerships, expert-led architectural design reviews, and specific training to meet their technological needs.
During the COVID-19 pandemic, many businesses, including managed services providers (MSPs), faced challenges. However, organizations worldwide turned to managed services to maintain operational efficiency during lockdowns. As a result, spending on new automation projects gradually slowed during the pandemic.
Gather more insights about the market drivers, restrains and growth of the Managed Services Market
Managed Services Market Report Highlights
• Solution Segment: The managed security segment is expected to grow at the fastest CAGR of 14.7% during the forecast period. This growth is attributed to the increasing adoption of managed security services across various industries, offering benefits like security monitoring, email threat management, backup restoration, and support & maintenance management.
• Managed Information Services: The business support systems segment is forecast to grow at the fastest CAGR of 14.2% from 2023 to 2030. This growth is driven by the increasing adoption of services like business analysis, database integration, demand management, and project management in industries worldwide.
• Deployment: The on-premise deployment segment led the market in 2022, capturing 64.4% of the revenue share. Many organizations prefer on-premise deployment as it doesn't rely on internet connections and allows for easier software customization to meet specific business needs.
• Enterprise Size: The small & medium enterprises (SMEs) segment is expected to register the fastest CAGR of 14.3% from 2023 to 2030. This growth is driven by increasing government initiatives and digital SME campaigns across the globe.
• End-Use: The healthcare segment is projected to grow at the fastest CAGR of 14.7% over the forecast period. Managed services are increasingly being adopted by healthcare organizations to protect patient data and secure financial transactions, contributing to this growth.
• Region: North America held the largest market share in 2022, with over 30% of the revenue share. The growing number of multinational companies (MNCs) in North America is expected to support continued regional market growth.
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Managed Services Market Segmentation
Grand View Research has segmented the global managed services market report based on solution, managed information service (MIS), deployment, enterprise size, end use, and region:
Managed Services Solution Outlook (Revenue, USD Billion, 2018 - 2030)
• Managed IT Infrastructure & Data Center
o Server Management
o Storage Management
o Managed Print Services
o Others
• Managed Network
o Managed Wi-Fi
o Managed LAN
o Managed VPN
o Managed WAN
o Network Monitoring
o Others
• Managed Mobility
o Application Management
o Device Life Cycle Management
• Managed Communication & Collaboration
o Managed Voice over Internet Protocol (VoIP)
o Managed Unified Communications as a Service (UCaaS)
o Others
• Managed Information
o Managed Operational Support Systems/Business Support Systems (OSS/BSS)
o Business Process Management
• Managed Security
o Managed Firewall
o Managed Vulnerability Management
o Managed Risk & Compliance Management
o Managed Antivirus/Antimalware
o Managed Encryption
o Managed Unified Threat Management
o Managed Security Information & Event Management (SIEM)
o Managed Intrusion Detection Systems/Intrusion Prevention Systems (IDS/IPS)
o Others
• Managed Backup and Recovery
Managed Services Managed Information Service (MIS) Outlook (Revenue, USD Billion, 2018 - 2030)
• Business Process Outsourcing (BPO)
• Business Support Systems
• Project & Portfolio Management
• Others
Managed Services Deployment Outlook (Revenue, USD Billion, 2018 - 2030)
• On-premise
• Hosted
Managed Services Enterprise Size Outlook (Revenue, USD Billion, 2018 - 2030)
• Small & Medium Enterprises (SMEs)
• Large Enterprises
Managed Services End-use Outlook (Revenue, USD Billion, 2018 - 2030)
• BFSI
• Government
• Healthcare
• IT & Telecom
• Manufacturing
• Media & Entertainment
• Retail
• Others
Managed Services Regional Outlook (Revenue, USD Billion, 2018 - 2030)
• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o France
• Asia Pacific
o Japan
o China
o India
o South Korea
o Australia
• Latin America
o Brazil
o Mexico
• Middle East & Africa (MEA)
o United Arab Emirates (UAE)
o Saudi Arabia
o South Africa
List of Key Players in Managed Services Market
• Accenture
• Atera Networks Ltd.
• ARYAKA NETWORKS, INC.
• AT&T Inc.
• BMC Software, Inc.
• Broadcom
• Cisco Systems, Inc.
• DXC Technology Company
• Fujitsu
• HCL Technologies Limited
• HP Development Company, L.P.
• International Business Machines Corporation
• Lenovo
• ScalePad Software Inc.
• Telefonaktiebolaget LM Ericsson
Order a free sample PDF of the Managed Services Market Intelligence Study, published by Grand View Research.
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