Market Size of Managed Information Services Industry
| 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
*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.
