Overview and Scope
Multi-vendor support services refer to services that provide a single point of contact for customers’ hardware and software maintenance support. Multi-vendor support services are used by businesses to support their products from other manufacturers by reducing downtime by streamlining problem identification and resolution across the business environment.
Sizing and Forecast
The multi-vendor support services market size has grown steadily in recent years. It will grow from $62.56 billion in 2023 to $65.14 billion in 2024 at a compound annual growth rate (CAGR) of 4.1%. 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, 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. It will grow to $79.43 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to 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, expansion of global it operations. Major trends in the forecast period include 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, evolving service level agreements (slas) in multi-vendor support.
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Segmentation & Regional Insights
The multi-vendor support services market covered in this report is segmented –
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
North America was the largest region in the multi-vendor support services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the multi-vendor support 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
A significant increase and presence of technology providers will propel the growth of 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, and this demands vendor support services for effective technology implementation. For instance, in 2021, CDS, a provider of multi-vendor services (MVS) for data centers introduced Commit, a new channel program to bring multi-vendor services to leading solution providers. This global channel program was designed to help solution providers offer enterprise customers the most advanced, comprehensive, and complementary infrastructure services.
Key Industry Players
Major companies operating in the multi-vendor support services market report are 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., Symantec Corporation., 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.
The multi-vendor support services market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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