IT Managed Services in India 2021 Market Inclinations and Development Status Highlighted During Forecast Period

In a recent published report, Kenneth Research has updated the Market report for IT Managed Services in India 2021 Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for IT Managed Services in India 2021 Market Products.

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Netscribes’ latest market research report titled IT Managed Services in India 2015 describes the dynamics of managed IT service usage in India. IT managed services involves the outsourcing of various IT activities to an external managed service provider or MSP. It benefits the client organization to focus more on their core business operations rather than internal IT operations. IT managed services market in India is characterized by growing adoption of emerging technologies including cloud, mobility and big data and various services include infrastructure management, security management, network management, remote services management, among others.

According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017.

Demand for IT managed services is driven by India’s dominance in capturing a major share of the global IT services sector, coupled with need for specialization and cost reduction. Outsourcing of IT services results in 20-30% cost reduction depending upon the type of service outsourced. However, security and privacy concerns continue to be a challenge for IT managed service providers, since many organizations are apprehensive about sharing vital and confidential information. It also results in depending upon third-party service providers, which is viewed as a threat to effective management control. In future, with proper targeting of channel partnerships and further integration of cloud capabilities, IT managed services will be able to fully capitalize on opportunities present in different industry verticals.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

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The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys  & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  •  Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

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