Overview
The managed services
market is anticipated to witness healthy growth from 2020 to 2030,
a research report suggests. Growing at a CAGR of 9.76%, the market is projected
to reach USD 507.13 Billion by 2030. The increasing demand to reduce
administration and maintenance costs is expected to support the market growth
along with the management and maintenance of extra components. As predicted by
analysts, high initial costs will negatively affect the market’s performance
from 2020 to 2030. During the forecast period, the market will be supported by
technological advancements and consumers aiming for more convenience.
The
lack of demand from certain regional markets on the other hand will challenge
process management sector based organizations functioning in the global managed
services market. Analysts have split the market into organization size, service
type, and vertical segments based on products and services. Process management
based companies have been profiled. Concerns regarding high costs is set to
affect the global market during the forecast period 2020 to 2030. The report
also provides the market’s performance forecasts till 2030. Strategies of
process management based companies are studied. The process management sector
itself is supported by the increasing awareness among consumers as well as
consumers aiming for more convenience. During the forecast period 2020 to 2030,
the managed services market is set to witness a health growth across
organization size, service type, and vertical segments as well as regional
markets.
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Market Segmentation
The
process management sector has seen growth across organization size, service
type, and vertical segments owing to a rise in disposable income and favorable
policies across regional markets. To study the market, analysts have further
segmented organization size, service type, and vertical into cloud services,
managed collaboration services, managed data center services, managed mobility
services, managed security services, network services and testing, and others
on the basis of organization size. The market is further segmented into service
type sub segment which is split into large enterprises and SMEs. Additionally,
the managed services market on the basis of vertical is segmented into BFSI,
education & research, energy & utilities, healthcare,
industrial/manufacturing, IT & telecommunication, retail and ecommerce, and
others.
The
segmental analysis presented in the report provides process management field
based organizations insights into key growth factors such as the presence of
untapped market opportunities as well as challenges such as the growing
penetration of alternatives in the market the market will face from 2020 to
2030. The need to minimize the overall cost of ownership and the changing
social behaviour are some of the key factors having an influence on process
management industry based companies, suggest analysts as per the managed
services market report. But the report also identifies dynamic policies and
regulations and the lack of demand from developing countries as major threats
companies in process management will face till 2030.
Regional Overview
Process
management market based companies in the managed services market are
functioning across North America, Europe, Asia Pacific, the Middle East, and
Africa including the rest of the world. Favorable policies across regional
markets will be a key growth driver for regional markets. However, the
unavailability of professional services will turn out to be a threat. For the
forecast period 2020 to 2030. Each of these regional markets are studied in the
report. Starting from North America, the regional market and process management
vertical based companies are spread across the United States, Mexico, and
Canada.
The
lack of investments in research and development will turn out to be a major
challenge from 2020 to 2030. Parts of the European market covered in the report
are regional markets spread across the United Kingdom, France, Italy, and
Germany. The market in the region will be benefitted by the increasing demand
from various industry verticals as well as the growth of communication
channels, suggests the report. Similarly, the process management sector’s
segmental analysis for the Asia Pacific region covers India, Japan, China, and
others. For the rest of the world, the research report for the managed services
market covers the Middle East and Africa. The global managed services market
forecasts based on the findings are presented for the forecast period till
2030.
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Competitive Landscape
The
global managed services market research report brings a comprehensive study of
organization size, service type, and vertical market segments, regional
analysis, and process management vertical based company details of key players.
As the forecast period 2017 to 2024 will bring new opportunities for the market
owing to the availability of many untapped opportunities and the growing
application areas, the market is set to grow at a compound annual growth rate
of 16.2% and is predicted to reach a value of US$417.1 billion by 2024. With
SWOT analysis of process management sector based companies and Porter’s Five
Force model analysis based findings, and understanding challenges such as the
shifting preference for cheaper alternatives and the lack of skilled human
resource, companies in the process management sector can change the way
business is done.
Industry News
M/C
Partners, a Boston-based private equity company focusing on communications and
IT services, reported today that it has reached an agreement to purchase West
Monroe Partners' Managed Services subsidiary, a global enterprise and
technology consultancy. Wayne Kiphart has been appointed Chief Executive
Officer, and he will be in charge of the company's growth and long-term
shareholder returns. Wayne Kiphart comes to West Monroe Managed Services from
Gratia, a cybersecurity managed service provider. M/C Partners will add its
deep expertise in the technology and telecom management industries as West
Monroe Managed Services' main financial participant.
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