Global IT Managed Services Market: Size & Forecast with Impact Analysis of COVID-19 (2021-2025)
The key players of the IT managed services market are IBM Corporation, Cisco Systems, Inc., Fujitsu Limited, Accenture plc are also profiled with their financial information and respective business strategies.
By: Daedal Research
Middle East & Africa
Cisco Systems, Inc.
A managed service provider (MSP) is an outsourced third-party company that deliver services to manage IT systems for organizations, such as network, application, infrastructure and security, via ongoing and regular support and active administration on customers' premises. The major benefits of using an MSP include cost-effectiveness;
IT managed services can be defined as the practice of outsourcing a wide range of IT services to a Managed Services Provider (MSP), with responsibilities ranging from specific on-demand response to coverage of almost all IT duties. These services majorly include responsibilities, such as remote monitoring, security services, configuration and management of cloud services, and communication support.
The global IT managed services market has increased significantly during the year 2020 and projections are made that the market would rise in the next four years i.e. 2021-2025 tremendously. The IT managed services market is expected to increase due to surge in adoption of cloud, widespread adoption of being your own device (BYOD), rising security and compliance risks, rising demand to reduce administration and maintenance costs, escalating demand for managed services from manufacturing sector, development of IT-as-a-Service (ITaaS), rising application in energy and utility sectors, etc. Yet the market faces some challenges such as lack of expertise, security concerns, etc.
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