Multi-Vendor Support Services Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 58.89 Billion |
| Market Size (2029) | USD 73.57 Billion |
| CAGR (2024 - 2029) | 4.55 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Multi-Vendor Support Services Market Analysis
The Multi Vendor Support Services Market size is estimated at USD 58.89 billion in 2024, and is expected to reach USD 73.57 billion by 2029, growing at a CAGR of 4.55% during the forecast period (2024-2029).
Multi-vendor support services can help any business to simplify IT management from multiple vendor contracts to a single vendor with expertise to maintain all the IT infrastructure. Therefore, multi-vendor support reduces downtime by streamlining problem identification and solving across the entire IT environment. There is a significant increase in the development and acceptance of advanced solutions among businesses. These multi-vendor support services help to decrease the risk associated with managing several IT solutions and services while improving smooth production or daily work. This is bolstering the demand for multi-vendor support services across the world.
- Unlike the last couple of IT infrastructure transition years, many businesses are shifting towards the third-party multi-vendor maintenance provider because of the severe budget constraints and reductions in the CAPEX. Enterprises seeking to do more while keeping it cost-efficient are interested in third-party maintenance to limit their solutions and service expenditures while retaining their conventional uptime and performance.
- The IT services for cloud, IoT platforms, containers, DevOps, and Big Data are expected to hold tremendous potential for the multi-vendor support service providers in the forecast period. Enterprises and government organizations worldwide are moving from conventional environments to placing more work-critical workloads and compute instances into the cloud.
- Further, owing to the rapidly increasing adoption of IoT, cloud, and Big data Analytics across multiple organizations as a significant part of their digital transformation strategy, the burden on the data centers is also increasing, leading to the market's growth. In the current scenario, data centers are more complex than ever, with thousands of components. Lifecycle maintenance in this difficult environment is essential, but it is also very challenging as IT players work to balance performance and cost. This is why lifecycle maintenance is an admin headache for today's enterprises. They have maintenance contracts with dozens of vendors, each with multiple types of equipment. With the increasing adoption of multi-vendor support services, the lifecycle maintenance of data centers becomes more manageable and cost-effective.
- The fast-paced and ever-changing challenges of supporting a multi-vendor support environment get exponentially difficult as an enterprise adds new technology to its IT infrastructure, updates levels of service, new support agreements, or updates warranties with each vendor. To solve these arising problems, total support management provided by technology providers like Dell Technologies is offering multi-vendor support services, which not only cut costs and increase productivity across an IT organization but also lower the burden on resources already managing too many daily admin tasks.
- At the time of the COVID-19 pandemic, remote working has surged worldwide. Multi-vendor support services providers are taking the opportunity to take advantage to solve enterprise problems to maintain a smooth working environment. For example, IBM Cloud solutions can help an enterprise to make a seamless transition to small business with flexible, secure cloud and digital services for virtualization, mobility, collaboration, and support. In the remote working condition, with the help of Cisco's in-depth knowledge base, IBM Corporation's intelligent network support delivers a proactive support model that helps the user to identify problems before they occur and affect enterprise operations.
Multi-Vendor Support Services Market Trends
This section covers the major market trends shaping the Multi Vendor Support Services Market according to our research experts:
IT & Telecommunication Vertical is Expected to Grow at a Significant Rate Over the Forecast Period
- The IT and telecommunication vertical is a significant segment for the multi-vendor support services due to the high rate of various technological adoptions, increased frequency of adoption of the BYOD policy (to make business operations much more comfortable and controllable), and growing need for high-end security due to the rapidly increasing data among the organizations.
- The telecom industry has observed extensive growth during the past few years. Telecommunication companies are constantly pressured to deliver innovative services at lower costs to retain their customers in the competitive market. Multi-vendor support services have become a widespread demand for operators to address a complex and competitive environment.
- The deployment of multi-vendor SD-WAN services is also increasing at a significant rate. This involves comprehensive validation and integration of the uCPE platform with a wide range of software service chaining, including security, routing, SDN switching, vBNG/vCGNAT, NFV, and service assurance. To meet the demand for multi-vendor networks, Lanner, a Taiwan-based company, offers a wide range of open, interoperable uCPE platforms that offer multi-core computing power, crypto acceleration engines, and WiFi/LTE/5G-ready connectivity.
- An enterprise must transition from a centralized to a distributed IT paradigm to undertake these cloud, workforce, and application transformation objectives. Businesses will experience difficulties using conventional networking, security, and operational methods, such as old-fashioned remote access, VPN connectivity, ineffective cloud/SaaS access, subpar application quality, and compromised safety.
- In the last year, 64% of North American respondents to a survey by Aruba Networks and Ponemon Institute said they were familiar with zero trust, while 47% said they were aware of SASE. In general, respondents had little exposure to SD-WAN. Security protocols are implemented using security architectures like SASE and zero trust. The notion of perimeter security commonly referred to as the zero-trust security model holds that devices are not trusted by default.
North America to account for significant market growth.
- The primary driver for the North American geographic segment's growth is the significant presence of technology providers. These players focus on entering into partnerships, merger acquisitions, and innovative solutions offerings to stay in the regional and globally competitive landscape. Countries like the US are significant contributors to the growth of the North American market segment. The US market is growing due to the changing IT infrastructure landscape, especially in small and medium enterprises (SMEs) continually focusing on outsourcing IT solutions and services.
- The growing use of medical equipment in home healthcare, the transition of surgical procedures from inpatient to outpatient settings, and the increased technology acceptance by MVS providers and healthcare facilities. The MVS market is anticipated to transform from a conventional equipment maintenance and repair service-based model to a fully managed service model due to professional services like consulting, analytics, IT solutions, inventory management, and cybersecurity.
- The quick changes in IT infrastructure are the primary elements fueling the MVSS market expansion. The size and complexity of IT infrastructure are proliferating. This is because larger and better networks, servers, and storage devices are required to meet the growing computing demands. Organizations are progressively digitalizing their operations using the cloud, container, IoT, and other technologies to satisfy the increased needs of business tasks.
- The use of multi-cloud environments sees massive growth in the United States and Canada, wherein clients rely on one cloud massively while using the other sporadically. MSPs can offer a great opportunity by giving consumption-based service pricing models. This will also boost the growth of the multi-vendor support services market in the region.
- Furthermore, the penetration of smart devices is expected to increase, owing to the rapid integration of IoT across various industries and sectors. This is projected to propel the adoption and incorporation of managed multi-vendor services, thereby fueling the market's growth.
Multi-Vendor Support Services Industry Overview
The multi-vendor support services market is moderately competitive and consists of many global and regional players. These players account for a considerable market share and focus on expanding their client base globally. These vendors focus on research and development activities, strategic alliances, and other organic & inorganic growth strategies to earn a competitive edge over the forecast period.
- In November 2022 - Enterprises are modernizing their applications, implementing multi-cloud and SaaS, and enabling users to access these applications from the workplace, home, or elsewhere to remain competitive. To assist businesses in delivering apps, data, and services-no matter where they are located-to the site, branch, and home, across any network, to any device, VMware, Inc. revealed its next-generation SD-WAN solution, which includes a new SD-WAN Client.
Multi-Vendor Support Services Market Leaders
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IBM Corporation
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Microsoft Corporation
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Oracle Corporation
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Hewlett Packard Enterprise Co
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Dell Technologies Inc
*Disclaimer: Major Players sorted in no particular order
Multi-Vendor Support Services Market News
- October 2022 - It might be challenging to troubleshoot cloud investments when using numerous cloud providers and apps. Because of this, Google Cloud Third-Party Technology Support is offered as a feature with Premium Support for Google Cloud and is designed to seamlessly resolve issues involving many vendors while also setting up, configuring, and troubleshooting organizations. Intending to foster and ensure infrastructure innovation in the cloud, HashiCorp, a Google technology partner, regularly collaborates with Google Cloud.
- June 2022 - To help service providers launch next-generation services more quickly in a multi-vendor environment, Red Hat and Ericsson have established a collaboration for testing network functions and platforms. Since multi-vendor networks require proven interoperability to ensure flexibility and choice, the two businesses are involved in a broader ecosystem collaboration to streamline the integration of many technologies and vendors.
Multi-Vendor Support Services Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
- 4.1 Market Overview
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4.2 Industry Attractiveness - Porter's Five Forces Analysis
- 4.2.1 Threat of New Entrants
- 4.2.2 Bargaining Power of Buyers/Consumers
- 4.2.3 Bargaining Power of Suppliers
- 4.2.4 Threat of Substitute Products
- 4.2.5 Intensity of Competitive Rivalry
5. MARKET DYNAMICS
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5.1 Market Drivers
- 5.1.1 Rising Maintenance Cost of OEM Services
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5.2 Market Challenges
- 5.2.1 Concern Over Security and Privacy Issues
6. IMPACT OF COVID-19 ON THE MULTI VENDOR SUPPORT SERVICES MARKET
7. MARKET SEGMENTATION
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7.1 Service Type
- 7.1.1 Professional
- 7.1.2 Managed
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7.2 Enterprise Size
- 7.2.1 Small & Medium Enterprises
- 7.2.2 Large Enterprises
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7.3 End-user Verticals
- 7.3.1 IT & Telecommunication
- 7.3.2 BFSI
- 7.3.3 Healthcare
- 7.3.4 Energy & Power
- 7.3.5 Industrial Manufacturing
- 7.3.6 Others (Retail, Media & Entertainment, Travel & Tourism)
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7.4 Geography
- 7.4.1 North America
- 7.4.2 Europe
- 7.4.3 Asia Pacific
- 7.4.4 Latin America
- 7.4.5 Middle East and Africa
8. COMPETITIVE INTELLIGENCE
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8.1 Company Profiles*
- 8.1.1 IBM Corporation
- 8.1.2 Oracle Corporation
- 8.1.3 Microsoft Corporation
- 8.1.4 Clear Technologies, Inc.
- 8.1.5 Dell Technologies Inc
- 8.1.6 Evernex Group SAS
- 8.1.7 Hewlett Packard Enterprise Co
- 8.1.8 Quantum Corp
- 8.1.9 Blue Sky Group Ltd
- 8.1.10 Softcat plc
- 8.1.11 NetApp Inc.
9. INVESTMENT ANALYSIS
10. FUTURE OF THE MARKET
** Subject To AvailablityMulti-Vendor Support Services Industry Segmentation
With the help of multi-vendor support services, businesses can consolidate their support services contracts for their mixed IT environment, ultimately saving significant money, effort, and time. The market scope of multi-vendor support services tracks the adoption of different support services used by several end-use industries such as IT & telecommunication, BFSI, healthcare, retail, energy & power, etc. The study also focuses on the impact of COVID-19 on the market landscape. In the report scope, the existing service provider landscape consists of significant market players.
The Multi-Vendor Support Services Market is Segmented by Service Type (Professional, Managed), Enterprise Size (Small & Medium Enterprises, Large Enterprises), End-user Verticals (IT & Telecommunication, BFSI, Healthcare, Energy & Power, Industrial Manufacturing), and Geography.
The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.
| Service Type | Professional |
| Managed | |
| Enterprise Size | Small & Medium Enterprises |
| Large Enterprises | |
| End-user Verticals | IT & Telecommunication |
| BFSI | |
| Healthcare | |
| Energy & Power | |
| Industrial Manufacturing | |
| Others (Retail, Media & Entertainment, Travel & Tourism) | |
| Geography | North America |
| Europe | |
| Asia Pacific | |
| Latin America | |
| Middle East and Africa |
Multi-Vendor Support Services Market Research FAQs
How big is the Multi Vendor Support Services Market?
The Multi Vendor Support Services Market size is expected to reach USD 58.89 billion in 2024 and grow at a CAGR of 4.55% to reach USD 73.57 billion by 2029.
What is the current Multi Vendor Support Services Market size?
In 2024, the Multi Vendor Support Services Market size is expected to reach USD 58.89 billion.
Who are the key players in Multi Vendor Support Services Market?
IBM Corporation, Microsoft Corporation, Oracle Corporation, Hewlett Packard Enterprise Co and Dell Technologies Inc are the major companies operating in the Multi Vendor Support Services Market.
Which is the fastest growing region in Multi Vendor Support Services Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Multi Vendor Support Services Market?
In 2024, the North America accounts for the largest market share in Multi Vendor Support Services Market.
What years does this Multi Vendor Support Services Market cover, and what was the market size in 2023?
In 2023, the Multi Vendor Support Services Market size was estimated at USD 56.33 billion. The report covers the Multi Vendor Support Services Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Multi Vendor Support Services Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Multi-Vendor Support Services Industry Report
Statistics for the 2024 Multi-Vendor Support Services market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Multi-Vendor Support Services analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
