Managed Services Market Size and Forecast (by Country, IT Solution Area, Size Band and Vertical) to 2027
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Managed Services Market Overview
The managed services market size was valued at US$ 923.38 billion in 2022 and will grow at a compounded annual growth rate (CAGR) of 13.49% to reach US$ 1,738.51 billion by 2027. The cumulative revenue generation for managed services providers is estimated at US$ 7,615.11 billion for 2022-2027.
Managed Services Market Outlook, 2022-2027 (US$ Billion)
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The ‘Managed Services Market’ opportunity forecast report provides the total addressable market for managed services solutions from 2019 to 2027.
Market Size (2022) | US$ 923.38 billion |
Market Size (2027) | US$ 1,738.51 billion |
CAGR (2022-2027) | 13.49% |
Key Segments | · Audio Conferencing Services
· Enterprise Fixed Voice · Hybrid Cloud Services · IaaS · Managed Cloud Services · Managed Desktop Services · Managed IP Telephony Service · Managed Print Services · Mobile Data · PaaS · Private Cloud Services · SaaS |
Key Regions | · North America
· South & Central America · Western Europe · Central & Eastern Europe · Middle East & Africa · Asia Pacific |
Key Verticals | · Manufacturing
· Information Technology · Retail · Retail Banking · Government · Insurance · Transport and Logistics · Healthcare · Construction · Energy · Consumer Goods · Financial Markets · Utilities · Communication · Education · Foodservice · Travel and Leisure · Media · Pharmaceuticals · Mining · Medical Devices · Others |
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Managed Services Market Segmentation by Region
The managed services market is geographically segmented into North America, South and Central America, Western Europe, Central and Eastern Europe, Middle East Africa, and the Asia Pacific.
The Asia Pacific region dominated the managed services market with a revenue share of 34.4% in 2022. Undoubtedly, China held the largest market share of 38.1% in this region. On the other hand, North America and Western Europe held the second and third positions with 31.5% and 18.2% of market shares, respectively.
Managed Services Market Share by Region, 2022 (%)
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Managed Services Market Segmentation by Vertical
Manufacturing, information technology, retail, retail banking, insurance, government, transport and logistics, construction, healthcare, and energy are a few of the key end-use industries making use of managed services in their operations. In terms of vertical end-use segments, the manufacturing sector held the highest market share of 9.3%, followed by the information technology sector.
The managed services market for the retail banking sector is expected to be the fastest-growing segment, recording an estimated CAGR of 17.28%, during the forecast period.
Managed Services Market Share by Verticals, 2022 (%)
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Managed Services Market - Competitive Landscape
A few of the major players significantly impacting the managed services market are Accenture, Hewlett Packard Enterprise, IBM Corporation, NTT Data, and DXC Technology among others.
Leading Managed Services Companies
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Scope
This product provides revenue opportunity forecasts in the managed services market from 2019 to 2027, spanning 52 geographical markets, 6 regions, and 22 verticals.
Key Highlights
- The global managed services market is expected to grow at a CAGR of 13.49% over the forecast period.
- Asia Pacific will hold the highest market share of 34.4% in the managed services market over the forecast period. North America and Western Europe will follow with market shares of 31.5% and 18.2%, respectively. The Middle East, Africa, Central and Eastern Europe, and South and Central America together are expected to account for the remaining market share of 15.9%.
Reasons to Buy
- Access the current state and expected growth (next 5 years) of the managed services
- Determine lucrative sectors for managed services, considering their current contribution to the overall managed services market and their expected input toward the market growth over the next 5 years.
- Identify the geographies/countries that would contribute to the managed services market growth over the next 5 years.
Frequently asked questions
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What was the managed services market size in 2022?
The managed services market size was estimated at US$ 923.38 billion in 2022 and is expected to reach US$ 1,009.03 billion in 2023.
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What will the managed services market growth be by 2027?
The managed services market is expected to grow at a compound annual growth rate of 13.49% over the forecast period to reach US$ 1,738.51 billion by 2027.
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Which industry vertical led the managed services market in 2022?
The manufacturing sector was the largest vertical with 9.3% market share in 2022.
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Which region accounted for the largest managed services market share in 2022?
The Asia Pacific region dominated the managed services market with 34.4% market share in 2022.
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