What are the latest figures on the managed services market’s size and projected CAGR?
The managed services market size has grown strongly in recent years. It will grow from $290.89 billion in 2024 to $310.95 billion in 2025 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to cost efficiency, scalability needs, focus on core competencies, complexity of it environments, globalization.
The managed services market size is expected to see rapid growth in the next few years. It will grow to $520.79 billion in 2029 at a compound annual growth rate (CAGR) of 13.8%. The growth in the forecast period can be attributed to increasing complexity of it environments, rise in cyber threats, remote workforce management, cloud adoption surge, focus on business continuity. Major trends in the forecast period include service personalization, data analytics and insights, focus on customer experience, compliance management, scalability demands.
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What are the key forces behind the managed services market’s growth in recent years?
The increasing number of small and midsize businesses (SMB) is expected to propel the growth of managed services market going forward. Small businesses are organizations with fewer than 100 employees. Midsize enterprises are those organizations with 100 to 999 employees. Small and midsize businesses require managed services to efficiently handle their IT infrastructure, cybersecurity, and network management, allowing them to focus on core business functions without the burden of in-house technical expertise. For instance, in October 2022, according to the GOV.UK, a UK-based government services and information provider, in 2022, there were 5.47 million small businesses and 35,900 medium-sized businesses, an increase compared to 2021. Therefore, the increasing number of small and midsize businesses (SMB) is driving the growth of managed services market.
What are the major segments of the managed services market?
The managed services market covered in this report is segmented –
1) By Service Type: Managed Security Services, Managed Network Services, Managed Data Center And IT Infrastructure Services, Managed Communication And Collaboration Services, Managed Mobility Services, Managed Information Services, Other Service Types
2) By Deployment model: Cloud, On-Premises
3) By Organizational Sizes: Large Enterprises, Small And Medium-sized Enterprises (SMEs)
4) By Application: BFSI, IT And Telecom, Retail And Consumer Goods, Manufacturing, Government, Healthcare And Life Sciences, Energy And Utilities, Media And Entertainment, Other Applications
Subsegments:
1) By Managed Security Services: Threat Monitoring and Management, Incident Response, Security Compliance Management
2) By Managed Network Services: Network Monitoring and Management, WAN Optimization, Network Design and Implementation
3) By Managed Data Center and IT Infrastructure Services: Data Center Management, Server Management, Backup and Disaster Recovery
4) By Managed Communication and Collaboration Services: Unified Communication Solutions, Video Conferencing Services, Collaboration Tools Management
5) By Managed Mobility Services: Mobile Device Management (MDM), Mobile Application Management (MAM), Endpoint Security for Mobile Devices
6) By Managed Information Services: Data Analytics and Business Intelligence, Information Governance, Document Management Services
7) By Other Service Types: Managed Print Services, Managed Cloud Services, IT Help Desk and Support Services
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Which companies dominate the managed services market?
Major companies operating in the managed services market include Huawei Technologies Co Ltd., Verizon Communications Inc., AT&T Inc., Accenture plc, International Business Machines Corporation (IBM), Deloitte AG, Cisco Systems Inc., Fujitsu Global Limited, Tata Consultancy Services Limited, Ericsson AB, Nokia Corporation, BAE Systems plc, Capgemini SE, NTT DATA Corporation, Cognizant Technology Solutions Corporation, CenturyLink Inc., Infosys Limited, DXC Technology Company, Atos SE (Societe Europeenne de Services Informatiques), Wipro Limited, Rackspace Technology Inc., GTT Communications Inc., HCL Technologies Limited, Microland Limited, Secureworks Inc., Happiest Minds Technologies Limited, Alert Logic Inc., Intact Technology Inc., Business Technology Partners LLP
What major trends will shape the managed services market during the forecast period?
Major companies operating in the managed services market are focused on introducing managed services solutions to help businesses efficiently manage their IT environments while allowing them to focus on core activities. Artificial intelligence (AI) refers to the development of computer systems or machines that can perform tasks typically requiring human intelligence. For instance, in July 2024, Happiest Minds Technologies Ltd, an India-based company, launched WATCH360, an AI-infused platform, to streamline IT infrastructure management for organizations. Powered by ELLIPSE, WATCH360 utilizes artificial intelligence and machine learning to provide real-time insights and automate processes, enhancing overall IT efficiency. The service offers round-the-clock management of IT infrastructure, ensuring reliability and continuous support. WATCH360 manages a wide range of IT components, including servers, databases, network and security devices, as well as cloud-native services.
What are the key regional dynamics of the managed services market, and which region leads in market share?
The countries covered in the managed services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
What Does The Managed Services Market Report 2025 Offer?
The managed services market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
A managed service is any task that a third party handles, often in the context of business IT services. Managed services are a way to outsource general tasks to an expert to reduce costs, improve service quality, or free up internal teams to do work specific to the business. Managed services are cost-effective, provide more capability to company end-users, allow teams to focus on business core competencies, and allow in-house IT to focus on more strategic IT programs.
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