How is the Multi-Vendor Support Services Market Evolving and What is the Forecasted Market Size?
The multi-vendor support services market size has grown steadily in recent years. It will grow from $64.52 billion in 2024 to $66.94 billion in 2025 at a compound annual growth rate (CAGR) of 3.8%. The growth in the historic period can be attributed to increased complexity of IT environments, cost optimization pressures on organizations, diverse technology vendor ecosystems, aging IT infrastructures, and the need for flexible and customized support solutions.
The multi-vendor support services market size is expected to see strong growth in the next few years, growing to $84.56 billion in 2029 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to the growth in hybrid and multi-cloud environments, rising demand for cybersecurity support services, accelerated adoption of emerging technologies, increasing focus on IT resilience and business continuity, and expansion of global IT operations. Major trends in the forecast period include a shift towards outcome-based support models, integration of AI and automation in support services, emphasis on proactive and predictive support, demand for unified support across multiple vendors, and evolving service level agreements (SLAs) in multi-vendor support.
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What are the Key Growth Drivers in the Multi-Vendor Support Services Market?
A significant increase and presence of technology providers will propel the growth of the multi-vendor support services market during the forecast period. The need for IT enterprises and skills is rising as technology continues to permeate every area of the commercial and business environment, demanding vendor support services for effective technology implementation.
What are the Major Segments in the Multi-Vendor Support Services Market?
1. By Type: Hardware Support Services, Software Support Services
2. By Application: Sales And Marketing, Financial And Accounting, Supply Chain, IT Operations, Other Applications
3. By Organization Size: Small And Medium Sized Enterprises, Large Enterprises
4. By Vertical: Banking, Financial Services And Insurance, Telecom And IT, Media And Entertainment, Travel And Logistics, Other Verticals
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Who are the Key Players in the Multi-Vendor Support Services Market?
Major companies operating in the multi-vendor support services market include AT&T Inc., Dell Technologies Inc., Furukawa Co. Ltd., Hitachi Ltd., HP Inc., International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, NEC Corporation., Toshiba Corporation, Fujitsu Ltd., Lenovo Group Limited., NetApp Inc., Clear Technologies Inc., Dynamic Systems Inc., Unisys Corporation, NCR Corporation, CompuCom Systems Inc., Stefanini Inc., Wipro Limited., HCL Technologies Limited, Infosys Limited., Tech Mahindra Limited, Capgemini SE, Atos SE, Cognizant Technology Solutions Corporation, DXC Technology Company, Accenture plc, Tata Consultancy Services Limited.
What are the Emerging Trends in the Multi-Vendor Support Services Market?
The demand for multi-vendor support services by telecom operators is a new trend gaining popularity in the market.
Which Region Will Grow the Fastest in the Multi-Vendor Support Services Market?
North America was the largest region in the multi-vendor support services market in 2024. However, Asia-Pacific is expected to be the fastest-growing region in the forecast period.
What Does The Multi-Vendor Support Services Market Report 2025 Offer?
Multi-vendor support services refer to services that provide a single point of contact for customers’ hardware and software maintenance support. They are used by businesses to support products from other manufacturers, reducing downtime by streamlining problem identification and resolution across the business environment. The Multi-Vendor Support Services Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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