Managed Services Market Size, Share - Growth, Trends, and Forecasts (2020 - 2025)

The managed services market is anticipated to witness a CAGR of approximately 11.27% over the forecast period of (2020 - 2025). Enterprises and government organizations across the world are moving from test environments to place more of their work-critical workloads and compute instances into the cloud. Further, owing to the rapidly increasing adoption of IoT, cloud, and Big Data analytics across multiple organizations as a major part of their digital transformation strategy, the burden on the data centers is also increasing. This is leading to the growth of the market.

• The managed services, for cloud, IoT platforms, containers, DevOps, and Big Data, are expected to hold tremendous potentials for managed service providers during the forecast period. Additionally, according to Cisco, 46% of network devices are likely to be machine-to-machine or IoT, by 2020, which are vulnerable to attacks.
• The global market for managed services is expected to witness a high demand for managed mobility and information services. There has been a tremendous shift in focus towards the managed services and their applications for both the short and long-term strategic decisions. It is estimated that successful deployment of managed services will help in reducing IT cost by 25-45% and will also increase the operational efficiency by 45-65%.
• Additionally, over the past few years, organizations have been actively amending their strategies to get the maximum benefit out of managed services. For instance, in the past years it has been observed that organizations are increasingly focusing on the reduction of cost by cutting down the number of suppliers and reducing the payment size. As a result, the demand for bundled services has gained immense traction in the market over the discrete offerings.
• According to an IBM security analysis quoted in IT World Canada, misconfigured servers accounted for approximately 86% of the 8.5 billion records that were compromised last year on a global level. Although the number of misconfigured incidents decreased in 2019 as compared to 2018, the total number of records affected increased. Misconfigurations can occur across many paths, including the cloud storage, open internet-connected network area storage devices, and improperly secured sync backups. To mitigate these misconfigurations, enterprises across the world are adopting managed service providers.