Managed Services Market Future Scope, Size, Share, Advance Technology, Growing Trends, Demand And Forecast – 2029

Managed Services Market Future Scope, Size, Share, Advance Technology, Growing Trends, Demand And Forecast - 2029
IBM (US), Accenture (Ireland), Microsoft (US), Cisco (US), Fujitsu (Japan), TCS (India), Google (US), DXC Technology (US), Infosys (India), Capgemini (France).
Managed Services Market by Service Type (Managed IT Infrastructure & Data Center Service, Managed Network Service, Managed Security Service, Managed Communication & Collaboration Service, Managed Mobility, Managed Information) – Global Forecast to 2029.

The managed services market is projected to grow at a Compound Annual Growth Rate (CAGR) of 6.9% during the forecast period, increasing from USD 365.33 billion in 2024 to USD 511.03 billion by 2029. Managed services involve outsourcing specific business functions or operations to third-party providers. These managed services providers (MSPs) oversee the daily management, monitoring, and optimization of these services, enabling organizations to concentrate on their core activities. The scope of managed services spans various areas, including IT infrastructure management, cybersecurity, cloud computing, network monitoring, and data storage.

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The managed VOIP segment is expected to capture the highest CAGR during the forecast period by managed communication & collaboration service.

Managed Voice over Internet Protocol (VoIP) services are important for modern communication, equipping organizations with a dependable, cost-effective means to conduct voice communications over the internet. VoIP, uses the internet for voice transmission, which substantially reduces traditional phone service expenses, making it a more economical alternative for businesses of all kinds. Moreover, VoIP increases communication flexibility by allowing organizations to expand their phone solutions on demand and interface with other collaboration technologies such as video conferencing, messaging applications, and virtual conference rooms.

Managed VoIP services simplify call routing by offering useful insights on call volumes, peak times, and geographical patterns. Businesses utilize this data to adjust call management strategies, assuring more effective routing and avoiding unnecessary expenditures such as long-distance rates. This strategy not only saves money, but it also enhances the whole communication experience. Also, features like call forwarding, voicemail-to-email, call recording, and virtual phone numbers promote productivity and keep teams connected particularly in remote or hybrid work conditions. These services make it simple to work together across sites, ensuring that information flows smoothly regardless of where employees are located.

Based on the managed network services, the managed WAN segment is expected to hold the largest market share during the forecast period.

Managed wide area network (WAN) services are important to organizations which require a stable, secure infrastructure to link several locations. A wide-area network (WAN) connects numerous LANs to allow communication between sites such as branch offices and data centers. Managed WAN services deliver optimal data transfer by constantly altering routes depending on real-time network conditions, resulting in lower latency and rapid data transmission.

These services include developing and setting up WAN infrastructure depending on location, bandwidth needs, and connection types such as MPLS, Internet VPN, or SD-WAN. Traffic optimization techniques like as Quality of Service (QoS) and application-based routing prioritize vital data by assigning varying levels of priority, ensuring that high-priority applications, such as VoIP or video conferencing, obtain adequate bandwidth with minimal delay. This enables organizations to make better use of available bandwidth, decreasing congestion and increasing overall network efficiency. In addition, managed WAN services monitor network performance, resolving any faults and managing resources to ensure seamless operation. Encryption and firewalls are security methods that protect data privacy during transmission.

North America is projected to hold the largest market share during the forecast period.

The managed services market in North America is on the growth trajectory due to several factors such as cloud computing adoption, need for digital transformation and the need for enterprises to improve IT infrastructure. Enterprises are outsourcing IT management services such as network management, data protection and maintenance of the infrastructure enabling them to focus on core business activities. Increased need for cyber security solutions, complexities of IT systems and the transition to hybrid modes of working are other important factors. Managed services are also being utilized by small and large players across the healthcare, manufacturing, financial services, and retail industries for controlling expenses and increasing effectiveness while achieving compliance standards. Besides, the incorporation of artificial intelligence (AI) in managed services that is in addition to automation is also aiding the market in the active management of information technologies thus another factor that drives market expansion.

Recently there have been various developments in the market including Accenture’s acquisition of Navisite, finalized on January 30, 2024, which adds around 1,500 employees to enhance its managed services capabilities. In January 2024, Frontier Communications became the first service provider in North America to implement Nile’s network-as-a-service (NaaS) model, enabling customers to manage the network aspects without incurring large capital expenses beforehand. Additionally, in March 2024, SmartSource was included in CRN’s MSP 500 list as an organization with unique and robust solutions for the market, while in May 2024, NTT DATA was chosen by Salesforce to optimize its software applications provision. In addition, BlueVoyant announced the partnership with or signed an exclusive agreement to work with EY US aimed at promoting availability of Microsoft 365 E5 advanced security solutions to end-users affirms their commitment to innovative security technology. The above trends are indicative of a strong growth for managed services, reflective of the prevailing digitalization trends across sectors in the region.

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Unique Features in the Managed Services Market

Managed services providers (MSPs) offer tailored solutions to meet the specific needs of businesses, regardless of their size or industry. This customization ensures that services align with a company’s unique operational requirements and strategic goals, making them highly adaptable and scalable.

One of the key distinguishing features of managed services is the focus on proactive monitoring and management. MSPs continuously monitor systems, networks, and applications to identify potential issues before they escalate, minimizing downtime and improving overall efficiency.

The managed services market spans a wide range of disciplines, including IT infrastructure management, cybersecurity, cloud computing, data storage, and network monitoring. This breadth of services allows businesses to consolidate multiple functions under a single provider, simplifying vendor management.

Given the rising importance of cybersecurity, MSPs often provide cutting-edge security measures, such as real-time threat detection, incident response, and compliance management. These services help organizations safeguard sensitive data and maintain regulatory compliance.

Managed services operate on a subscription or pay-as-you-go model, offering predictable costs for businesses. By outsourcing non-core functions, organizations can reduce capital expenditures and focus their resources on growth and innovation.

Major Highlights of the Managed Services Market

As cyber threats become more sophisticated, the demand for managed cybersecurity services is surging. Businesses are turning to MSPs for real-time threat monitoring, data protection, compliance support, and incident response to safeguard their digital assets.

The widespread adoption of cloud technologies is a major driver for the managed services market. MSPs play a critical role in managing cloud infrastructures, facilitating seamless migration, ensuring uptime, and optimizing cloud environments for cost and performance.

SMEs are increasingly embracing managed services to overcome budget and resource constraints. MSPs provide cost-effective solutions tailored to SMEs, enabling them to compete with larger enterprises by leveraging advanced technologies and expertise.

The integration of artificial intelligence (AI), machine learning (ML), and automation into managed services has enhanced efficiency, streamlined operations, and enabled predictive analytics. These innovations allow MSPs to offer smarter and more proactive solutions.

Emerging markets in Asia-Pacific, Latin America, and Africa are becoming key growth areas for managed services due to rapid digitalization, increasing IT infrastructure investments, and growing awareness of the benefits of outsourcing.

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Top Companies in the Managed Services Market

Major vendors in this market are in North America and Europe. IBM (US), Accenture (Ireland), Microsoft (US), Cisco (US), Fujitsu (Japan), TCS (India), Google (US), DXC Technology (US), Infosys (India), and Capgemini (France) are among the leading players operating in the managed services market. These players have adopted many growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, collaborations, mergers, acquisitions, and new product development activities to expand market presence.

IBM

IBM is a major player in cloud platforms and AI solutions. Its main areas of operation include AI, business services, cloud technology, systems, and global financing. The company is focused on expanding its offerings by introducing new and advanced products in these fields. It helps customers streamline business processes and enhance data-driven decision-making capabilities. It offers a broad product portfolio that includes analytics, cloud computing, blockchain, intelligent automation, business operations, mobile technology, security, IT infrastructure, software development, and supply chain management.It helps customers streamline business processes and enhance data-driven decision-making capabilities. It offers a broad product portfolio that includes intelligent automation,  analytics, cloud computing, blockchain, business operations, mobile technology, IT infrastructure, security, software development, and supply chain management.

It offers managed services, such as enterprise application, managed mobility, workplace, backup and recovery, network, security, and storage services.

IBM has expanded its managed cloud services, which encompasses Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS), and Software-as-a-Service (SaaS). It serves multiple industries, including automobiles, telecommunications, financial services, health, aerospace & the armed forces, life sciences, and retail. It fosters a network of worldwide business partners operating in over 170 countries. IBM Research is the world’s biggest industrial research group, with 12 laboratories on 6 continents, including the Americas, Europe, Middle East and Africa, and Asia Pacific.

Accenture

Accenture is a diversified technology and consulting organization. Accenture’s diverse portfolio spans various services, from hands-on delivery and installation to more specialized areas like application management, BPO, and technology consulting. The company also brings expertise in advanced fields such as blockchain, security, cloud services, and network transformation, ensuring comprehensive solutions tailored to the specific needs of its clients across various industries. It serves across multiple verticals: aerospace and defense, chemicals, healthcare, life sciences, software and platforms, automotive, communications and media, high technology, natural resources, travel, banking, consumer goods and services, industrial equipment, public services, utilities, capital markets, energy, insurance, and retail.

Accenture provides managed security, infrastructure, network transformation, and compliance services, helping businesses tackle operational challenges while maintaining security and efficiency in a fast-evolving digital world. With a presence in over 50 countries and the ability to serve clients in more than 120 nations, Accenture combines local expertise with a global reach. Its team of 774,000 professionals, working alongside 350+ strategic partners, drives innovation and collaboration. As of 2024, the company’s commitment to progress is reflected in its impressive portfolio of more than 7,400 pending patents.

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