IT Managed Services Market 2022 Global Business Trends, Historical Analysis, Industry Key Strategies, Size-Share, Future Demand, Key Regions, Leading Players Updates and Forecast to 2031

Kenneth Research, in its repository of market research reports, have recently added a report on IT Managed Services Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The IT Managed Services Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. 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.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis 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) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest 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 Market products.

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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. On the other hand, growing awareness amongst individuals for using the internet is also anticipated to contribute to the market growth. For instance, the total number of individuals using the internet grew from 8% of total population in 2001 to 49% of total population in 2017.

Market Trends in Global IT Managed Services Market

Siemens acquired CD-Adapco, a NY based company offering global engineering simulation with software solutions that would help Siemens to plan and manage growth in engineering sector all over the world. The organization formerly known as Siemens Healthcare (as August 2016) rebranded themselves as “Healthineers” to offer a public stock as the company moves into German Healthcare business.

Dell Technologies launched advanced and innovative laptop named XPS 13 2-in-1 that is fast enough to complete multi tasks at a single time and equipped with the latest processor. IBM introduced an innovative hybrid cloud for enterprises, thus increasing the limits of technology.

“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”

Market Overview

Riding on the back of growing need of advanced connected devices, the IT industry has been booming tremendously in recent years. Further, the applications of IT in almost every home and commercial electronic device are estimated to showcase remarkable growth in IT industry in near future. Additionally, the spiked adoption of smart and connectivity devices will further increase the transfer and collection of information that will raise the demand for IoT platforms and other IT related managed services.

On the other hand, the IT Managed Services ecosystem is rising in developed countries which have led the market players to focus towards the advancement in connectivity services. The demand for IT managed services is believed to remain high in upcoming years. These factors are believed to supplement the expansion of the global market of IT managed services market with a CAGR of 8.38% during the period 2016-2023. Furthermore, the global IT managed services market is expected to account USD 262.5 Billion by the end of 2023 from USD 149.41 Billion in 2016.

Growth Highlights based upon Regional Platform during 2016-2023

The global market of IT Managed Services is segmented by regions into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa. The North-America region has dominated the overall IT managed services market with a market share of 30.7% in 2016 where the U.S. dominated the overall North-America market due to well established sectors and rapid adoption of IT infrastructure in various companies. The North America IT managed services market is believed to grow with significant pace over the forecast period owing to the presence of huge players of IT managed services in the region.

On the other hand, Asia-Pacific region is one of the most opportunistic regions for the IT managed services players and is expected to dominate the overall IT managed services market by the end of 2023 by expanding at a CAGR of 9.80% during the forecast period. Further, the rapid pace of digitalization in various end-use sectors including healthcare, education, banking and others is one of the major factor which are driving the IT managed service industry growth in the Middle East & Africa region.

“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”

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Table of Content:

  • Executive Summary
  • Research Methodology
  • Global Market Size (USD Million) and Forecast
  • Market Dynamics & Its Impact Analysis
  • Global Market Segmentation Analysis
  • Porter’s Five Force Model Analysis
  • Competitive Landscape
  • Company Overview
    • Financial Performance
    • Key Products
    • Business Strategy
    • Recent Developments
    • SWOT Analysis


This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.


The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.

  • Key Topic Covered in this Report
  • Market Growth Opportunities
  • Leading Market Players
  • Market Size and Growth Rate
  • Market Growth Drivers
  • Company Market Share
  • Market Trends and Technological Innovations
  • Impact Analysis of COVID-19 (CORONA Pandemic) on Global Market

“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”

Download Sample of This Strategic Report-

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Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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