Managed Information Services Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Global Information Services Market is Segmented by Function (Data Backup and Recovery, Network Monitoring and Security, Human Resource, System Management), Deployment Mode (On-premise, Cloud), End-user Vertical (Telecommunication and IT, BFSI, Retail), and Geography (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa). The report offers the market size and forecasts in USD million for all the above segments.

Information Managed Services Market Size

Managed Information Services Market Summary
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Study Period 2019 - 2029
Market Size (2024) USD 305.57 Billion
Market Size (2029) USD 632.42 Billion
CAGR (2024 - 2029) 15.66 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Managed Information Services Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Information Managed Services Market Analysis

The Managed Information Services Market size is estimated at USD 305.57 billion in 2024, and is expected to reach USD 632.42 billion by 2029, growing at a CAGR of 15.66% during the forecast period (2024-2029).

Servicing the needs of companies, MSPs are cutting costs and increasing efficiency. As more and more companies move the bulk of their operations online, businesses are looking for their networks to be fast, secure, connected, and reliable. The adoption of cloud by businesses has been a boon to the market.

  • Governments around the world are introducing various regulations for human-centric AI. In June 2022, Canada proposed the Artificial Intelligence and Data Act (AIDA), in which risk management and information disclosure regarding high-impact AI systems will be mandatory. These initiatives will generate new opportunities for managed service providers and help them further flourish their businesses.
  • The Government of Japan plans to invest 0.63 million USD towards a joint project between the Ministry of Health and Child Care (MoHCC) and WHO (World Health Organisation). This project will provide safe, timely, affordable Surgical, Obstetric, and Anaesthesia (SOA) care services in Manicaland and Matabeleland North Provinces. Further, it will strengthen the national Health Management Information Systems (HMIS) to allow effective decision-making.
  • The COVID-19 outbreak impacted various industries, and the economy's growth slowed down due to the shutdown of different production channels. But on the contrary, the IT sector was not completely affected negatively by the lockdowns that hampered other industries. The importance of IT solutions increased as firms turned to work-from-home networks to maintain their operations. This also increased the demand for Managed Information Services Market.
  • Information management is critical to every organization’s success and requires proper investment in these processes. Systems produced internally by the company will have their internal cost estimation, and systems available on the market will have different pricing and capabilities. Budgeting decisions for these managed services software can be challenging if clients are unwilling to spend appropriately.

Information Managed Services Market Trends

Data Backup and Recovery to Dominate the Market

  • On-premises data storage can become expensive, requiring new hardware like servers, modems, etc. By partnering with an MSP, the companies can focus on core business needs as they outsource their IT tasks to this dedicated team. With managed backup, an MSP proactively monitors facilities, data centers, and cloud storage to ensure everything runs smoothly.
  • According to a study by Accenture, 68% of business leaders feel their cybersecurity risks are increasing. Managed backup protects data from common cyber threats so that companies don’t have to pause operations while scrambling to recover lost or stolen files if systems are infiltrated. For instance, if an organization's files are stolen and locked in a ransomware attack, they can quickly resume business operations using MSP's backup data instead of paying the ransom or trying to continue business as usual without data.
  • The healthcare and finance industries are the primary targets of hackers. 84% of hospitals and healthcare centers use cloud service for backup, analytics, and disaster recovery functions, and 76% of healthcare service providers are moving their existing IT infrastructure to the cloud.
  • March 2023 - Healthcare solutions company Advantus partnered with GE Health Care (GEHC) to deliver benefits to health systems and suppliers. GEHC will manage complete medical equipment in a healthcare facility – including ongoing maintenance, monitoring for and addressing recalls, disinfection, and distribution. This will help reduce costs and improve productivity. The program will also offer GE HealthCare’s real-time location system technology that tracks and locates a provider’s equipment so caregivers can spend less time searching for equipment and more time with patients.
Managed Information Services Market: Total digital health industry funding worldwide from 2018 to 2022 (in billion USD)

Asia-Pacific to Witness the Highest Growth

  • Chinese businesses are adopting digital platforms to replace bureaucracy and give front-end staff direct access to the required tools and resources. That platform centralizes standard services, information, and capabilities to support decentralized decision-making. For instance, at Handu Group, a digital platform connects autonomous teams to internal and external factories using cloud-based supply-chain-management software. The platform allows external partners to produce goods on a requirement basis for HStyle but frees them up to serve other customers.
  • March 2023 - Menzies Aviation will use a new product developed by Wipro to transform its air cargo management services. This will help the aviation leader to improve business efficiencies, employee experience, and customer service through increased automation. The product will be rolled out in 5 locations, including Macau in China.
  • March 2023 - In India, Dr. Lal PathLabs appointed Kyndryl to manage its IT infrastructure stack, including the on-premises IT environment and cloud infrastructure across multiple hyper-scale cloud service providers. After adopting this service, Dr. Lal PathLabs concentrated on raising customer satisfaction while lowering call center workload spikes by a double-digit percentage.
  • March 2022 - Mizuho Financial Group, a Japanese firm, partnered up with Google to expedite the digitization of its retail banking services, thereby leaving behind the computer system difficulties that plagued it for months. This will provide insights to the finance company to analyze data about customer transactions conducted on its banking apps and at retail branches.
Managed Information Services Market - Growth Rate By Region

Information Managed Services Industry Overview

The managed information services market is highly consolidated and dominated by prominent managed information service providers. These MSPs sign contracts with various companies to help them with information technology software and services. As businesses shift to digital technologies, these MSPs have a wider scope of expansion. Some significant MSPs offering their services in this sector include Accenture, DELL Technologies Fujitsu, Cisco Systems Inc, Microsoft, and so on.

In March 2023, Indonesia-based Indosat Ooredoo Hutchison signed a contract with Tech Mahindra for IT services. Indosat current functionalities will be transformed into a new-age digital-first platform that enables seamless visibility and managed services across its entire IT stack from a single viewpoint. Indosat presently serves 102.2 million mobile subscribers. Through this partnership, Indosat will get the chance to grow its enterprise business along with IT-managed services.

In March 2023, Vanta, the management platform, introduced the Managed Service Provider Program, which offers security monitoring and automated compliance for managed service providers. The program features a multi-tenant management console, world-class partner support, and flexible billing integration. A dedicated team of experts has been formed to ensure partner success, including curated resources and training programs.

In November 2022, to help expand its services further, Entech MSP took private equity funding from Prospect Partners. The funding will allow Entech to acquire several Florida-based MSPs to build a state-wide managed services practice.

Information Managed Services Market Leaders

  1. Fujitsu Ltd

  2. Cisco Systems Inc.

  3. Microsoft Corporation

  4. Accenture

  5. DELL Technologies

*Disclaimer: Major Players sorted in no particular order

Managed Information Services Market Concentration
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Information Managed Services Market News

  • January 2023: Hughes Network Systems introduced programs for small and medium-sized enterprises (SMEs). This will offer the organization network security and the benefits of in-house, enterprise-grade protections. The newly launched Managed Detection and Response (MDR) service protects enterprises from cyber criminals with proactive intervention, real-time incident response, and active threat containment through automation and trained security professionals' attention.
  • December 2022: Slovak University of Technology (STU) signed a contract with IBM to conduct scientific research mainly through bilateral and multilateral projects interesting to both contracting parties. The collaboration will cover joint education and training of students within specific professional subjects and professional support. The cooperation will also concern the common STU and EIT Manufacturing RIS Hub Slovakia’s activities.
  • November 2022: TCS introduced Managed Services for Security with SAP to help enterprises establish and run their SAP environments securely on Microsoft Azure. This will cover identity and access management, network security, cloud infrastructure security, and cloud SecOps. Further, the service will secure sensitive customer data and traffic, protect applications and enforce zero-trust policies.

Information Managed Services Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Limited IT Budget of SMEs Leads to Outsourcing of IT Infrastructure

    3. 4.3 Market Restraints

      1. 4.3.1 Lack of Skilled Professionals

    4. 4.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Function

      1. 5.1.1 Data Backup and Recovery

      2. 5.1.2 Network Monitoring and Security

      3. 5.1.3 Human Resource

      4. 5.1.4 System Management

    2. 5.2 By Deployment Mode

      1. 5.2.1 On-premise

      2. 5.2.2 Cloud

    3. 5.3 By End-user Vertical

      1. 5.3.1 Telecommunication and IT

      2. 5.3.2 BFSI

      3. 5.3.3 Retail

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

      2. 5.4.2 Europe

        1. 5.4.2.1 United Kingdom

        2. 5.4.2.2 Germany

        3. 5.4.2.3 France

        4. 5.4.2.4 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 Australia

        4. 5.4.3.4 Rest of Asia-Pacific

      4. 5.4.4 Latin America

        1. 5.4.4.1 Mexico

        2. 5.4.4.2 Brazil

        3. 5.4.4.3 Rest of Latin America

      5. 5.4.5 Middle-East & Africa

        1. 5.4.5.1 United Arab Emirates

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Fujitsu Ltd

      2. 6.1.2 Cisco Systems Inc.

      3. 6.1.3 IBM Corporation

      4. 6.1.4 Hewlett-Packard Enterprise

      5. 6.1.5 Microsoft Corporation

      6. 6.1.6 Dell Technologies Inc.

      7. 6.1.7 Nokia Solutions and Networks

      8. 6.1.8 Accenture PLC

      9. 6.1.9 Rackspace Inc.

      10. 6.1.10 Tata Consultancy Services Limited

      11. 6.1.11 Wipro Ltd

      12. 6.1.12 Deutsche Telekom AG

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
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Information Managed Services Industry Segmentation

Third-party duties typically handled in the context of commercial information technology services are called "managed IT services." The managed services model is delegating routine responsibilities to a professional to cut expenses, enhance service quality, and free up internal employees to work on things unique to their company. Companies that provide these services to various clients are called "managed service providers."

The managed information services market can be segmented by function (data backup and recovery, network monitoring and security, human resource, and system management), deployment mode (on-premise and cloud), end-user vertical (telecommunication and IT, BFSI, and retail), and geography (North America (United States, Canada), Europe (Germany, UK, France, and Rest of Europe), Asia Pacific (China, Japan, Australia and Rest of Asia-Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East and Africa ( United Arab Emirates, South Africa and, Rest of Middle-East & Africa).

The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

By Function
Data Backup and Recovery
Network Monitoring and Security
Human Resource
System Management
By Deployment Mode
On-premise
Cloud
By End-user Vertical
Telecommunication and IT
BFSI
Retail
Geography
North America
United States
Canada
Europe
United Kingdom
Germany
France
Rest of Europe
Asia-Pacific
China
Japan
Australia
Rest of Asia-Pacific
Latin America
Mexico
Brazil
Rest of Latin America
Middle-East & Africa
United Arab Emirates
South Africa
Rest of Middle-East & Africa
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Information Managed Services Market Research FAQs

The Managed Information Services Market size is expected to reach USD 305.57 billion in 2024 and grow at a CAGR of 15.66% to reach USD 632.42 billion by 2029.

In 2024, the Managed Information Services Market size is expected to reach USD 305.57 billion.

Fujitsu Ltd, Cisco Systems Inc., Microsoft Corporation, Accenture and DELL Technologies are the major companies operating in the Managed Information Services Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Managed Information Services Market.

In 2023, the Managed Information Services Market size was estimated at USD 264.20 billion. The report covers the Managed Information Services Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Managed Information Services Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Managed Information Services Industry Report

Statistics for the 2024 Managed Information Services market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Managed Information Services analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Managed Information Services Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)