Managed Services Market: Overview
The mounting volume of IT operations that needs to be offloaded to an external agency to enable businesses to focus on core business competencies is providing ample opportunities to the managed services market, and is predicted to continue to do so over the forecast period of 2020 – 2030.
Managed service providers feature capabilities of an IT department with the expertise of seasoned professionals to deliver targeted application operations. Broadly, managed services take over ongoing responsibilities of monitoring, managing, and problem resolution of selected IT systems and functions on behalf of the business owner.
Key segments of the managed services market based on service type are managed security services, managed data center and IT infrastructure services, managed information services, managed network services, and managed communication and collaboration services.
The report on the managed services market provides a succinct analysis of the said market for the forecast period between 2020 and 2030. Analysts delve into demand drivers, challenges, and opportunities, along with regional outlook to ascertain prospects in the managed services market over the forecast period. Analysis of competitive strategies of key players and how competition will shape in the managed services market over the forecast period is a highlight of this report.
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Managed Services Market: Competitive Landscape
The managed services market is competitive with the presence of several large players that operate globally. Innovative services and expansion of portfolio is the focus of top-notch players in the managed services market.
Some large players to name in the managed services market are IBM, Fujitsu, Atos, AT&T, Cognizant, TCS, Dimension Data, GTT Communications, Rackspace, Huawei, Cisco, Accenture, DXC Technology, Ericsson, HCL, Infosys, NTT, Happiest Minds Technologies, Nokia, and CenturyLink.
Managed Services Market: Growth Dynamics
Key factor of growth in the managed services market is ease of managing an IT environment – a major concern for CIOs. In the normal course, most IT companies dedicate most of their time in the planning, building, running, and maintaining IT cycles with untrained employees. However, lack of skilled IT professionals is a major challenge of CIOs. For such scenarios, managed service providers come in the picture and provide cost-effective solutions while maintaining the security aspect intact.
Increasing number of cyber-attacks and natural calamities resulting in loss of massive amount of critical data for businesses is driving the demand for managed services among large enterprises. Therefore, managed services are employed to tackle such challenges and to prevent loss of downtime.
Banking, Financial Services, and Insurance sector provides tremendous growth opportunities for managed services market. BFSI enterprises require highly complex IT infrastructure to maintain and manage data from record keeping to trading instruments to reporting and calculations, and more. This is opening opportunities for managed services market. For example, IT services are essential for financial transactions that either involves exchange of information between financial institutions and customers, or internally within the institution. Hence, BFSI enterprises require managed service providers to help provide services for low latency trading, hosting, market data, and infrastructure connectivity, and risk management solutions.
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Managed Services Market: Regional Assessment
The managed services market report covers key five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Among them, North America is at the fore in the managed services market due to the increasing adoption of recurring growth model in the region.
Asia Pacific is another significant region in the managed services market. The region being home to some veteran IT companies that have operations expanding multiple geographies has led to the need for managed services. Insufficiencies of IT systems and complexities of processes that need to be managed by third-party is paving way for growth of managed services market in the region.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.