The managed information services market is expected to register a CAGR of 13.9% during the forecast period, 2018 to 2023. The scope of the report is limited to function data backup and recovery, network monitoring and security, human resource, system management, and others, deployment mode on-premise and cloud, and end-user vertical telecommunication and IT, BFSI, retail, automotive, healthcare, manufacturing, and others. The regions considered in the scope of the report include North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The study also emphasizes the benefits of managed information services in accordance with diverse industries and future prospect of the same.
The organizations nowadays are outsourcing IT infrastructure and need to third-party service providers. These providers are offering various functions such as data recovery, network security, and authentication, which provides high-quality services. The aforementioned factors are expected to boost the managed information services market growth during the forecast period. The adoption of this technology requires skilled workers to get the job done on the backend. In addition, the rising big data across the globe in various industries are creating a need for managing data within quality, which is projected to give rise to the utilization of this service.
Small and medium scale companies have tight funds to invest for their business owing to which they wisely prefer to outsource few components of the business including IT infrastructure. In-house IT infrastructure including setting up data centers may cost high and cause a diversion from core competencies to stabilize the investments. Thus, this is giving rise to the adoption of outsourcing data center services by various organizations thereby propelling the managed data center services market growth during the forecast period. Furthermore, the need for IT infrastructure coupled with rising expenditure in information technology is projected to propel the managed information service market growth during the forecast period.
Loss of data is one of the unacceptable activities by any organization owing to storage of vital information associated with customers, payment method, and address. In addition, recovery of any lost data is crucial to the company. This gives rise to the services such as data backup and recovery, which manage the data in the most efficient way. Thus, the aforementioned factors are expected to drive the market on a positive note over the forecast period.
The stringent data regulations in BFSI sector coupled with increasing number of enterprises are expected to have a positive impact on the market growth. In addition, the increasing number of cloud service providers in the region is projected to propel the industry. The demand and availability of colocation are high in China and India, thereby driving the market of the region at a high pace over the forecast period.
Major Companies: Fujitsu Ltd, Cisco Systems Inc., IBM, Hewlett-Packard, Microsoft Corporation, Dell Technologies Inc., Nokia Solutions and Networks, and Accenture PLC, among others.
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