Global Managed Services Market is the management of activities of a company through outsourcing, where a third party manages the services of the company.Companies usually struggle to strike a balance between keeping their infrastructure functioning at optimal performance levels and also simultaneously maintain the costs associated with it. The IT industry especially requires a balance between operations and expenditures. Thus, the services are mostly used in the IT industry, where cost optimization, emphasis on core competencies and security of data are the major concerns.
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The major contributor to this trend is the development of cloud-based technology and technological advancements. The various offerings of this market to the end user are services, solutions, networks, and software. Managed Service Market offer the enterprises better utilization of their resources, increase in efficiency and cost-cutting solutions. They help the companies optimise their output by focussing on the right domain. Few of the major services offered in this market are Database Management, Network Management, and Security Management. Also, the increased use of cloud-based services is further promoting the use of global managed services in various organizations.
The end users of the Global Managed Services Market mainly include theretail sector, telecommunication, banking and financial services, and manufacturing. Some other sectors are supply chain and logistics, healthcare and pharmaceuticals education, and energy industry.
The market for Global Managed Services Market is in high demand due to the mitigation of the complexity of technology and simplification of the applications provided by the service providers. The Managed Services also fill in the in-house skill gaps,help to alleviate budget constraints and take part in hiring efficient staffs. Thus the Global Managed Services Market is projected to grow to USD 252.99 Billion by the year 2022, And or the forecast period 2017-2022, the projected CAGR is 10.20%. The mobilityof technology, Big Data and increased satisfaction of customers who use managed services are the major contributors to the rapid expansion of this market.
The Global Managed Services Market is segmented into the following categories:
1. Types of services offered:Managed Network, Managed Data Centre, Managed Information, Managed Security, Managed Mobility, Managed Infrastructure, Managed Communicationsand Others
2. Verticals of Operation: Manufacturing, Retail, Energy, Healthcare, Banking Financial Services, Education,Pharmaceuticals, Energy Industry and others
3. By Deployment Type: On-Premise and On-Cloud.
4. Geography: North America, Latin America, Europe, Middle East & Africa, and the Asia Pacific
5. Services Offered:Application Service Providers (ASP) and Managed Service Providers (MSP)
North America is currently dominating the Global Managed Services Marketdue to the early adoption of technology. It comprises roughly 30% of the world market in managed services. It is followed by Europe and the Asia Pacific where the demand for managed services is on the rise. Due to rapid globalization and digitalization, management of operations and security are causing big companies in these regions to adopt the managed services for monitoring their functioning.
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The major players in this field are Alcatel-Lucent, Cisco Systems, Inc., Dell EMC (EMC Corporation), Verizon Communications Inc., Fujitsu Ltd, Deutsche Telekom AG, Microsoft Corporation, AT&T Inc., HP Development Company, LP, Rackspace Inc., Dell Inc., IBM Corporation and TCS Limited.
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