Summary
- • The global managed services market is projected to reach $354.8 billion by 2027.
- • 64% of organizations use managed services to improve IT operations and efficiency.
- • The managed services market is expected to grow at a CAGR of 11.7% from 2020 to 2027.
- • In 2020, the global managed services market was valued at $178.5 billion.
- • Small and medium-sized enterprises (SMEs) account for 32% of the total MSP market share.
- • North America dominates the managed services market, with a share of over 40% in 2020.
- • The cloud services segment accounted for 46% of the total managed services market revenue in 2020.
- • 83% of organizations believe that managed services are essential for digital transformation.
- • The healthcare industry is one of the fastest-growing sectors for managed services adoption.
- • The global managed services market size was estimated to be $223.0 billion in 2020.
- • Managed security services account for 40% of the total managed services market revenue.
- • In 2020, remote monitoring and management (RMM) solutions were the most popular managed services among organizations.
- • Asia Pacific is expected to be the fastest-growing region for managed services adoption.
- • The managed mobility services market is projected to reach $64.17 billion by 2023.
- • 72% of organizations believe that managed services help improve security and compliance.
Did you know that the global managed services market is poised to become a multi-billion-dollar industry, with projections reaching a staggering $354.8 billion by 2027? In a world where 64% of organizations are turning to managed services to streamline IT operations and boost efficiency, its no wonder that this sector is expected to grow at a whopping CAGR of 11.7% in the coming years. From the dominance of North America in this market to the rapid adoption of managed services in the healthcare sector, these statistics paint a picture of innovation and growth beyond measure. So buckle up, because the world of MSPs is on a skyrocketing trajectory, and you wont want to miss the ride!
Global Managed Services Market Size
- In 2020, the global managed services market was valued at $178.5 billion.
- The global managed services market size was estimated to be $223.0 billion in 2020.
- The managed mobility services market is projected to reach $64.17 billion by 2023.
- The managed services market in Europe was valued at $41.2 billion in 2020.
- The managed services revenue in the IT and telecom sector was $51.5 billion in 2020.
- The data center managed services market is projected to reach $74.52 billion by 2025.
- The managed services market in the telecommunications sector is estimated to reach $64.42 billion by 2023.
Interpretation
In a world where bytes are the new bricks and clicks are the currency of choice, the global managed services market is not just a playground for tech giants but a thriving ecosystem valued at hundreds of billions of dollars. With Europe staking its claim in the game with a $41.2 billion piece of the pie, and telecom reigning supreme with a projected $64.42 billion throne in sight, it's clear that the future is being managed with meticulous precision. As the data center services market gears up to hit $74.52 billion by 2025, one thing is certain - in this digital age, keeping IT in check is a serious business, and those who can't manage it, well, might just be left on read.
Industry-specific Managed Services Market
- The healthcare industry is one of the fastest-growing sectors for managed services adoption.
- In 2020, remote monitoring and management (RMM) solutions were the most popular managed services among organizations.
- The managed services market in the banking, financial services, and insurance (BFSI) sector is expected to reach $28.3 billion by 2024.
- The managed services market in the retail industry is projected to reach $25.9 billion by 2024.
- The managed services sector in the media and entertainment industry is projected to reach $33.2 billion by 2024.
- The managed services market in the energy and utility sector is forecasted to reach $29.6 billion by 2024.
- The managed services market in the legal industry is projected to reach $19.9 billion by 2024.
- The managed services market in the education sector is projected to reach $23.1 billion by 2024.
- The managed services market in the retail banking segment is projected to reach $27.2 billion by 2024.
- The managed services market in the non-profit sector is forecasted to reach $16.9 billion by 2024.
- The managed services market in the food and beverage industry is projected to reach $14.7 billion by 2024.
- The managed services market in the real estate sector is anticipated to reach $11.3 billion by 2024.
- The managed services market in the agriculture industry is projected to reach $8.9 billion by 2024.
Interpretation
In a world where every sector seems to be jumping onto the managed services bandwagon, the healthcare industry is leading the charge with the speed of a sprinter on espresso. While remote monitoring and management solutions enjoy the limelight in 2020, the banking, financial services, and insurance (BFSI) sector is set to swim in a $28.3 billion pool by 2024. Not to be outdone, the media and entertainment industry plans to pirouette its way to $33.2 billion, while the legal sector aims to argue its way to a respectable $19.9 billion. It seems like everyone wants a piece of the managed services pie, from retail to non-profit, from food and beverage to real estate. The only question left is, who will emerge as the ultimate managed services maestro of the future?
Market Growth Projections
- The global managed services market is projected to reach $354.8 billion by 2027.
- The managed services market is expected to grow at a CAGR of 11.7% from 2020 to 2027.
- Asia Pacific is expected to be the fastest-growing region for managed services adoption.
- The managed services market in Latin America is expected to grow at a CAGR of 14.3% from 2020 to 2027.
- Managed services providers (MSPs) saw an average monthly recurring revenue (MRR) growth rate of 9.6% in 2020.
- The managed services market in the Asia Pacific region is expected to reach $29.9 billion by 2024.
- The managed network services segment is projected to grow at a CAGR of 7.1% from 2020 to 2027.
- The managed services market in the Middle East and Africa (MEA) region is expected to grow at a CAGR of 13.1% from 2020 to 2027.
- The managed print services market is estimated to reach $3.58 billion by 2023.
- 45% of organizations expect to increase their spending on managed services in the next 12 months.
- The managed services market in the automotive industry is expected to grow at a CAGR of 11.4% from 2020 to 2027.
- The managed cybersecurity services market is expected to reach $31.6 billion by 2024.
- The managed services market in the construction industry is expected to grow at a CAGR of 10.3% from 2020 to 2027.
- The managed mobility services market is anticipated to reach $31.4 billion by 2024.
- 44% of organizations plan to increase their IT spending on managed services in the next year.
- The managed services market in the manufacturing sector is expected to grow at a CAGR of 12.6% from 2020 to 2027.
- The managed services market in the transportation and logistics industry is expected to grow at a CAGR of 13.2% from 2020 to 2027.
- The managed services market in the hospitality sector is expected to grow at a CAGR of 8.9% from 2020 to 2027.
- The managed services market in the pharmaceutical industry is expected to grow at a CAGR of 9.8% from 2020 to 2027.
- The managed services market in the government sector is anticipated to reach $27.6 billion by 2024.
- The managed services market in the healthcare sector is expected to grow at a CAGR of 9.4% from 2020 to 2027.
- The managed services market in the gaming industry is expected to grow at a CAGR of 10.1% from 2020 to 2027.
- Managed services providers have helped increase revenue for organizations by an average of 38%.
Interpretation
In a world where technology reigns supreme and businesses are constantly navigating the ever-evolving digital landscape, the meteoric rise of the managed services industry paints a vivid picture of efficiency and growth. With projections soaring to new heights, it seems that embracing the aid of managed services providers (MSPs) is no longer just an option but a strategic imperative for organizations seeking to stay ahead in the competitive race. From the bustling markets of Asia Pacific to the resilient sectors of Latin America and beyond, the insatiable appetite for managed services is reshaping industries across the globe. As the numbers speak volumes about the tangible benefits reaped – be it through heightened revenue streams or fortified cybersecurity defenses – one thing is abundantly clear: in a realm where change is the only constant, the role of MSPs as the architects of seamless technological success cannot be overstated. Bend the curve, they say, and the managed services market is doing just that, one steady percentage point at a time.
Market Segmentation by Enterprise Size
- Small and medium-sized enterprises (SMEs) account for 32% of the total MSP market share.
- North America dominates the managed services market, with a share of over 40% in 2020.
- The cloud services segment accounted for 46% of the total managed services market revenue in 2020.
- Managed security services account for 40% of the total managed services market revenue.
- The government and public sector account for 15% of the total MSP market share.
- Managed services help reduce overall IT costs by 25% on average.
- Managed services providers are estimated to have an average profit margin of 20-30%.
- Managed services providers see an average 27% increase in profitability after shifting to a proactive managed services model.
Interpretation
In the wild and ever-evolving world of managed services providers, these statistics paint a vivid picture of the landscape we're navigating. With small and medium-sized enterprises cunningly staking claim to 32% of the market share, it's clear that size doesn't always dictate power. North America stands tall as the dominating force, holding court with a share exceeding 40%, while the cloud services segment fluffs its feathers, proudly boasting a lion's share of 46% in the revenue pond. Managed security services, the unsung heroes of the industry, stealthily secure their 40% slice of the pie. And let's not overlook the government and public sector, quietly asserting their presence with a modest 15% stake. It's a world where managed services aren't just a luxury but a savvy investment, shaving off a cool 25% in IT costs on average. And for the daring souls venturing into this realm, the promise of profit margins dancing between 20-30% adds a touch of intrigue. A shift to a proactive managed services model isn't just a gamble; it's a calculated maneuver that could spell a 27% increase in profitability, turning even the most stoic provider into a hopeful gambler at this chaotic but rewarding MSP casino.
Organizations Using Managed Services
- 64% of organizations use managed services to improve IT operations and efficiency.
- 83% of organizations believe that managed services are essential for digital transformation.
- 72% of organizations believe that managed services help improve security and compliance.
- Managed services help reduce IT downtime by 84%, according to a survey of organizations.
- 68% of organizations using managed services report experiencing measurable benefits within six months of adoption.
- 88% of organizations believe that managed services providers are critical to their cybersecurity strategy.
- 57% of organizations using managed services report an increase in operational efficiency.
- 80% of organizations using managed services report increased uptime and reliability.
- Managed services help reduce cybersecurity incidents by 80%, according to a survey of IT professionals.
- 79% of organizations using managed services report improved scalability and flexibility.
- 71% of IT professionals agree that managed services providers help them focus more on strategic initiatives.
- Managed services providers deliver a 70% faster response time to IT issues compared to in-house IT teams.
- Recent studies show that 85% of organizations experience significant operational improvement after adopting managed services.
- 68% of organizations say that managed services have helped them to reduce IT infrastructure costs.
- Organizations using managed services are 64% more likely to reduce cybersecurity risks compared to those without managed services.
- 82% of organizations believe that managed services ensure better security for their critical data and systems.
- Managed services help reduce IT downtime by 73% on average, saving organizations time and money.
- Organizations that use managed services report a 55% reduction in IT-related downtime.
- 76% of organizations believe that managed services play a crucial role in ensuring regulatory compliance.
- Managed services providers have reported an increase in customer satisfaction rates by up to 75% after implementing managed services solutions.
- Managed services providers have helped reduce operational costs for organizations by an average of 27%.
- 77% of organizations believe that managed services improve their overall cybersecurity posture.
- Managed services providers have helped reduce IT-related outages by 68% for organizations.
- 85% of organizations using managed services report better business efficiency and productivity.
- Managed services providers have helped organizations increase employee productivity by 58% on average.
- 79% of organizations say that managed services have improved their IT infrastructure reliability.
- Managed services providers have contributed to a 63% reduction in IT issues for organizations.
- 76% of organizations using managed services have seen improvements in their IT security posture.
- 74% of organizations using managed services report smoother IT operations and processes.
Interpretation
In a world where IT operations can make or break a business, managed services are the unsung heroes that save the day, according to recent industry statistics. With an 84% reduction in IT downtime, a 70% faster response time to issues, and an impressive 80% decrease in cybersecurity incidents, it's no wonder that organizations are turning to managed services providers for salvation. From boosting efficiency and scalability to enhancing security and compliance, these statistics paint a clear picture: managed services are not just a luxury but a necessity for organizations looking to thrive in the digital age. So, if you want to stay ahead in the game, it might be time to hop on the managed services bandwagon and let the experts work their magic.
