How big is the Managed Services Market?

The Managed Services Market size is expected to reach USD 280.96 billion in 2024 and grow at a CAGR of 7.90% to reach USD 410.92 billion by 2029. Read More

What is the current Managed Services Market size?

In 2024, the Managed Services Market size is expected to reach USD 280.96 billion. Read More

Who are the key players in Managed Services Market?

Fujitsu Ltd, Cisco Systems Inc., IBM Corporation, AT&T Inc. and HP Development Company LP are the major companies operating in the Managed Services Market. Read More

Which is the fastest growing region in Managed Services Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Managed Services Market?

In 2024, the North America accounts for the largest market share in Managed Services Market. Read More

What years does this Managed Services Market cover, and what was the market size in 2023?

In 2023, the Managed Services Market size was estimated at USD 258.76 billion. The report covers the Managed Services Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Managed Services Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What are the key factors driving the Managed Services Market growth?

Major factors fueling the Managed Services Market growth are: a) Rising IT complexity b) Cost reduction needs c) Focus on core business functions, and d) Increasing cloud adoption Read More

Managed Services Market Report | Industry Growth, Size & Forecast Analysis

Managed Services Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Global Managed Service Provider Industry Share & Growth and the Market is Segmented by Deployment (On-Premise and Cloud), Type (Managed Data Center, Managed Security, Managed Communications, Managed Network, Managed Infrastructure, and Managed Mobility), Enterprise Size (Small and Medium Enterprise and Large Enterprise), End-User Vertical (BFSI, IT and Telecommunication, Healthcare, Entertainment and Media, Retail, Manufacturing, Government, Other End-User Verticals), and Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa). The Market Sizes and Forecasts are Provided in Terms of Value (USD Billion) for all the Above Segments.

Managed Services Industry Overview

The global managed services market is very competitive because of the presence of several major players. Some major players in the market are Cisco Systems Inc., IBM Corporation, Microsoft Corporation, Fujitsu Ltd, and Wipro Ltd. The market players are forming strategic collaborations and partnerships to sustain the intense competition in the market.

In May 2022, EY and IBM Expand Alliance announced their decision to help businesses around the world through digital innovation and greater resilience.EY and IBM have established a new Talent Center of Excellence (COE) that will create data-driven AI and hybrid cloud solutions to provide broad talent, HR, mobility, and payroll transformation services helping clients in overcoming the urgent need to attract, retain and upskill their workforce while transforming their HR function.

In May 2022, IBM announced a Strategic Collaboration Agreement (SCA) with Amazon Web Services Inc. (AWS), with plans to offer a broad array of its software catalog as Software-as-a-Service (SaaS) on AWS that will help customers build and deploy modern, secure, and more intelligent workflows with IBM Software on AWS. Organizations will be able to run a broad array of the IBM Software catalog as cloud-native services on AWS so they can get up and running quickly to deliver business value.

In January 2022, Rackspace Technology and BT announced a partnership agreement to transform BT's multinational customers' cloud services. Under the terms of the agreement, BT's hybrid cloud services will be based on Rackspace Technology's solutions, which the company will deploy in BT data centers along with its Rackspace Fabric management layer.