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Multi-vendor IT support is a system of services that facilitate the planning and management of outsourced IT services. The system is designed to support enterprises in monitoring and managing the risk exposure resulting from third-party service providers. Additionally, multi-vendor IT support services systems offer dynamic data storage for vendor assessments comprising compliance checklists, risk evaluations, and other tools and technologies in order to estimate vendor performance related to an organization’s objectives. Various enterprises are replacing their traditional systems with multi-vendor IT support service systems in order to improve real-time visibility into risks and controls associated with IT-related services as well as to automate and streamline the vendor management lifecycle.

In this tough economic environment, high-tech and automated facilities are gaining in importance over traditional operations. Currently, enterprises are experiencing intense competition owing to the development of new technologies that improve productivity. Moreover, in order to maximize revenue and deliver quality services, enterprises are reducing operating costs by partnering third-party suppliers who are engaged in the management of complex business processes.

The global multi-vendor IT support services market is driven by a rise in the adoption of multi-vendor IT support services solutions to efficiently manage multifaceted vendor IT ecosystems. There is an increase in the development and acceptance of new and advanced solutions among enterprises. These solutions help decrease the risk associated with managing several IT solutions and services while enhancing production. This is driving demand for multi-vendor IT support services solutions across the world. Moreover, demand for multi-vendor IT support services systems is rising in highly regulated end-use industries such as life sciences & health care and banking, financial services, & insurance (BFSI). Companies in these industries rely on different vendors to efficiently perform and manage their critical operations. This is also contributing to the expansion of the global multi-vendor IT support services market. However, reluctance among organizations to invest in new and advanced technologies is one of the major factors hampering the growth of the global market. This is primarily because organizations are still dependent on manual and non-formal processes to evaluate their vendor risks.

Increase in demand for cloud-based multi-vendor IT support services solutions among small and medium enterprises is anticipated to augment the market in the next few years. This is because small and medium enterprises generally prefer cloud-based solutions to on-premise solutions due to budget constraints. This trend is anticipated to rise during the forecast period.

The global multi-vendor IT support services market can be segmented based on service, deployment, enterprise size, industry, and region. In terms of service, the global market can be bifurcated into hardware support services and software support services. Based on deployment, the multi-vendor IT support services market can be categorized into on-premise and cloud-based. In terms of enterprise size, the global market can be categorized into small & medium enterprises and large enterprises. Based on industry, the global multi-vendor IT support services market can be classified into life sciences & health care, BFSI, manufacturing, IT & telecom, retail & consumer goods, government, energy & utilities, and others.

In terms of region, the global multi-vendor IT support services market can be segmented into Europe, North America, Middle East & Africa, South America, and Asia Pacific. The multi-vendor IT support services market in North America is estimated to expand at a substantial growth rate during the forecast period. Increase in investment in new and advanced technologies such as cloud platforms, analytics & Big Data is accelerating the growth of the market in the region. However, Asia Pacific is anticipated to present significant opportunities to the multi-vendor IT support services market in the near future. This is primarily due to a rise in adoption of emerging technologies among organizations in the region.

Major players operating in the global multi-vendor IT support services market include LexisNexis Group, Inc., BWise B.V., LogicManager, Inc., MetricStream, Inc., Relational Security Corporation (Rsam), IBM Corporation, LockPath, Inc., Genpact Limited, Dell, Inc., HP Enterprise, Symantec, Oracle, Fujitsu, NEC, Lenovo, and Hitachi.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold 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.

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
  • Europe
  • 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.

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Multi Vendor It Support Services Market

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