Managed IT Infrastructure Services Market Drivers, Demand, Insights 2024-2033: Unveiling Key Factors

Overview and Scope

Managed IT infrastructure services refer to outsourcing IT management and maintenance tasks to a third-party provider, ensuring the consistent operation, security, and scalability of an organization’s technology infrastructure. It aims to standardize, integrate, and automate business systems to build agile, adaptable, and financially advantageous IT environments.

Sizing and Forecast

The managed it infrastructure services market size has grown rapidly in recent years. It will grow from $107.33 billion in 2023 to $119.17 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to rising complexity of it environments, cost optimization strategies, focus on core competencies, increasing cybersecurity concerns, scalability and flexibility needs.

The managed it infrastructure services market size is expected to see rapid growth in the next few years. It will grow to $181.92 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%. The growth in the forecast period can be attributed to edge computing growth, cloud adoption, regulatory compliance requirements, data governance and management, pandemic-driven changes. Major trends in the forecast period include expanded genetic testing accessibility, rise in prophylactic measures, personalized treatment approaches, advancements in non-invasive screening, emergence of supportive therapies.

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Segmentation & Regional Insights

The managed it infrastructure services market covered in this report is segmented –

1) By Service Category: Virtualization, Networking, Storage, Servers

2) By Deployment Mode: On-premises, Cloud

3) By Enterprise Size: Small And Medium Enterprises, Large Enterprises

4) By End User: IT And Telecommunication, Retail, Transportation And Logistics, BFSI (Banking, Financial Services, And Insurance), Manufacturing, Other End Users

North America was the largest region in the managed IT infrastructure services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the managed it infrastructure services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

The increasing adoption of the Internet of Things (IoT) is expected to propel the growth of the managed IT infrastructure services market going forward. The Internet of Things (IoT) is a networked system of interconnected computing devices, mechanical and electronic machinery with unique identities (UIDs), and the capacity to transfer data without needing human-to-human or human-to-computer contact. Managed IT infrastructure services can help manage the scalability and complexity of IoT infrastructure by offering scalable software infrastructure, device management, enhanced security, and data management for IoT ecosystems. For instance, in September 2022, according to a report published by Ericsson, a Sweden-based telecommunications company, the global IoT connections reached 13.2 billion connections in 2022 and are expected to increase by 18% to 34.7 billion connections by 2028. Therefore, the increasing adoption of the Internet of Things (IoT) is driving the growth of the managed IT infrastructure services market.

Key Industry Players

Major companies operating in the managed it infrastructure services market report are Microsoft Corporation, Verizon Communications Inc., AT&T Inc., Dell Inc., Lenovo Group Ltd., Accenture PLC, International Business Machines Corporation, Cisco Systems Inc., Fujitsu Limited, Canon Inc., Hewlett Packard Development Company L.P., Toshiba Corp., Tata Consultancy Services Ltd., Telefonaktiebolaget LM Ericsson, Nokia Corporation, NEC Corporation, Capgemini America Inc., NTT Ltd., Cognizant Technology Solutions Corp., Infosys Limited, DXC Technology Corporation, Atos SE, Wipro Ltd., HCL Technologies Limited, CGI Group Inc., Xerox Holdings Corp., Rackspace Inc., LTIMindtree Limited, Unisys Corporation, Cybernet Software Systems Inc., Happiest Minds Technologies Limited

The managed it infrastructure services market report table of contents includes: