Managed IT Infrastructure Services Market Size (2024 - 2029)

Managed IT Infrastructure Services Market Analysis

The Managed IT Infrastructure Services Market size is estimated at USD 117.57 billion in 2024, and is expected to reach USD 183.57 billion by 2029, growing at a CAGR of 9.32% during the forecast period (2024-2029).

• Companies struggling to strike a balance between ensuring their IT infrastructure functions at optimal performance levels and simultaneously managing the associated costs are increasingly hiring vendors offering infrastructure services. Managed infrastructure services help different industry verticals to focus only on their core business.
• These services are mostly being adopted in the IT industry, where cost optimization, emphasis on core competencies, and data security remain significant concerns. However, the recent proliferation of cloud-based technology and technological advancements is the major contributor to this trend.
• The proliferation of technologies like big data has further added to the need for outsourcing IT services. Companies can leverage the combination of both Big Data and the Cloud to provide scalable and cost-effective solutions. For example, Amazon's "Elastic Map Reduce" demonstrates how the power of cloud elastic computes is leveraged for big data processing.
• Further, the need to update outdated hardware is another major market driver. According to a survey conducted by Spice works Inc., 64% of the 700 companies involved in the study reported that the need to update outdated information technology (IT) infrastructure and security concerns are the major factors leading to high IT budgets.

Managed IT Infrastructure Services Industry Segmentation

IT infrastructure refers to the combination of hardware, software, network resources, and services required to operate an enterprise IT environment. IT infrastructure is usually internal to an organization and is deployed within the organization's premises. But with the evolution of the IT supply chain, enterprises are able to outsource their infrastructure requirements. In managed services, a third-party service provider manages an organization's in-house day-to-day IT infrastructure requirements, benefiting the global IT industry and helping them cut down several operation costs.

The managed IT infrastructure services market is segmented by services category (virtualization, networking, storage, and servers), enterprise size (small & medium enterprise and large enterprise), deployment (on-premise and cloud), end-user (IT& telecommunication, retail, transportation & logistics, BFSI, manufacturing, and other end-users), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa).

The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.