Global IT Managed Services Market To Reach USD 230 Billion By 2021

IT Managed Services

IT managed services help an organisation optimize their IT budgets and provide flexibility in delivering IT services to end-client efficiently. In addition to that, IT managed services also help an organisation to formulate a time saving, efficient and productive working model to enhance outputs by reducing operational cost, says a report by Research Nester.

According to it “Global managed services market is anticipated to expand from USD 129 Billion in 2014 to USD 230 Billion by 2021, showcasing a compound annual growth rate (CAGR) of 8.61%. Geographically, the global IT managed services market is segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific and Rest of world.”

Market Segmentation

By Types of Services

Based on the type of services offered, global IT managed services market is segmented into data centre and network management, desktop management services, server management services, IMAC services, IT maintenance services and IT hardware support services.

By Type of Service Consumers

On the basis of the type of service consumers, global IT managed services market is segmented as Small and Medium Businesses (SMB) and large enterprises.

By Verticals

Global IT managed services market is divided on the basis of verticals into BFSI (Banking, Financial Services and Insurance), oil and gas, education, manufacturing, logistics, healthcare, retail and others.

Growth Drivers and challenges

Increasing penetration of cloud computing, big data, and mobility technologies across various industry verticals is believed to be a prominent growth driver of global IT managed services market in near future.

In addition to that, rising inclination of IT companies towards enhancing business efficiency and customer satisfaction is also expected to foster global IT managed services market in future.

However, security and privacy concerns associated with IT managed services are anticipated to restrain the growth of the market during 2015-2021.

Market Size and Forecast

North America holds the first rank in global IT managed services market followed by Asia-Pacific region.

North America IT managed service market was valued at USD 51.0 Billion in 2013 and is envisioned to reach at USD 73.0 Billion in 2019, exhibiting a compound annual growth rate (CAGR) of 6.16%.  With approximately 33.0% share in 2015, the U.S. is the largest IT managed services market in North America.

Furthermore, Asia-Pacific ICT managed services market is anticipated to reach at USD 70.0 Billion in 2018. Growing number of enterprises in countries such as India, China, Japan and Singapore are likely to drive Asia-Pacific IT managed services market in future.

Currently, U.K. is the largest IT managed services market in Europe which is anticipated to be surpassed by Germany by the end of 2018.

Key Players

Global IT managed service market includes some of the major organisations such as Fujitsu, IBM, AT&T, Alcatel-Lucent, Microsoft, HP, Dell, Verizon Communications, etc.

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About the Author

S. Kapeed