As the managed services market rockets toward a staggering half-trillion-dollar valuation, its explosive growth is being fueled by undeniable trends: a relentless cloud migration, skyrocketing security demands, and the strategic pivot of SMBs and enterprises alike who are outsourcing to thrive.
Key Takeaways
- The global managed services market was valued at USD 271.12 billion in 2022
- In 2023, the managed services market in North America accounted for over 38% of the global share, valued at approximately USD 110 billion
- The IT managed services segment dominated the market with a 45.2% revenue share in 2022
- The global managed services market is projected to reach USD 457.19 billion by 2030, growing at a CAGR of 7.9% from 2023
- Managed services market expected to grow from USD 303.43 billion in 2024 to USD 511.03 billion by 2032 at CAGR 6.8%
- North American managed services to grow at 8.2% CAGR through 2030, reaching USD 200 billion
- North America holds 38% of global managed services market share in 2023
- Asia-Pacific region accounted for 25% of managed services revenue in 2023, totaling USD 75 billion
- Europe represents 28% market share in managed services with strong cloud focus
- Cisco holds 14.2% market share in managed services providers globally in 2023
- IBM commands 12.5% share in IT managed services segment 2023
- Accenture leads with 11.8% global managed services revenue share 2023
- Number of enterprises adopting managed services increased by 22% YoY in 2023
- 68% of SMBs used managed IT services in 2023 up from 55% in 2022
- Cloud-based managed services adoption rate reached 75% among enterprises in 2023
The global managed services market is large and growing rapidly across all regions and sectors.
Adoption and Usage
- Number of enterprises adopting managed services increased by 22% YoY in 2023
- 68% of SMBs used managed IT services in 2023 up from 55% in 2022
- Cloud-based managed services adoption rate reached 75% among enterprises in 2023
- 42% of organizations outsourced security via managed services in 2023
- Managed services penetration in healthcare sector at 58% globally 2023
- 71% of BFSI firms adopted managed services for compliance in 2023
- SMB cloud managed services usage grew 30% YoY to 62% adoption 2023
- 55% of European enterprises use managed network services in 2023
- Global managed mobility adoption hit 48% among enterprises 2023
- 65% of North American firms report using managed security services 2023
- Adoption of managed print services in offices reached 52% in 2023
- 49% of APAC SMBs adopted managed IT in 2023, up 18% YoY
- Enterprise managed services usage at 82% for data centers in 2023
- 37% growth in managed communications adoption post-pandemic 2023
- 61% of U.S. enterprises use hybrid managed services models 2023
- Managed services for AI/ML adopted by 29% of tech firms 2023
- 54% of retail sector uses managed services for e-commerce 2023
- LATAM managed services adoption rose to 45% in enterprises 2023
- 73% of large enterprises prioritize managed cybersecurity 2023 survey
- MEA adoption of managed cloud services at 51% in 2023
- 67% of manufacturing firms use managed IoT services 2023
- UK public sector managed services adoption 69% in 2023
- 44% of startups adopted managed DevOps services 2023
- Global average managed services spend per enterprise USD 2.5M in 2023
- 59% adoption rate for managed backup and recovery services 2023
Adoption and Usage Interpretation
In 2023, the managed service provider became the business world's indispensable Swiss Army knife, with everyone from the corner shop to the global enterprise frantically adopting these tools not just to keep up, but to ensure their tech doesn't set the whole operation on fire.
Growth Projections
- The global managed services market is projected to reach USD 457.19 billion by 2030, growing at a CAGR of 7.9% from 2023
- Managed services market expected to grow from USD 303.43 billion in 2024 to USD 511.03 billion by 2032 at CAGR 6.8%
- North American managed services to grow at 8.2% CAGR through 2030, reaching USD 200 billion
- Asia-Pacific managed services projected CAGR of 9.5% from 2023-2030
- Global managed security services market to grow at 12.3% CAGR to USD 81.4 billion by 2028
- Cloud managed services expected CAGR 11.1% from 2023-2030 to USD 250 billion
- Europe's managed services market forecast CAGR 7.2% to EUR 150 billion by 2030
- SMB managed services segment projected to grow at 8.5% CAGR globally
- Managed network services to expand at 6.9% CAGR to USD 140 billion by 2030
- Latin America managed services CAGR 10.2% projected through 2028
- IT managed services global CAGR 8.0% to USD 220 billion by 2030
- Managed data center services forecast 7.5% CAGR to USD 85 billion by 2030
- MEA managed services market CAGR 9.8% to USD 35 billion by 2030
- Managed mobility services projected CAGR 13.4% to USD 55 billion by 2030
- U.S. managed services growth at 7.6% CAGR to USD 160 billion by 2030
- Managed application services CAGR 8.3% globally to USD 75 billion by 2030
- India managed services market CAGR 12.1% to USD 25 billion by 2030
- Managed print services forecast CAGR 7.0% to USD 70 billion by 2030
- Healthcare managed services CAGR 9.2% to USD 55 billion by 2030
- BFSI managed services projected CAGR 8.7% to USD 60 billion by 2030
- Managed communications services CAGR 6.5% to USD 45 billion by 2030
- China managed services CAGR 10.5% to CNY 500 billion by 2030
- Managed infrastructure services forecast 7.8% CAGR to USD 140 billion
- Australia managed services CAGR 8.4% to AUD 28 billion by 2030
- Managed services in Germany projected CAGR 7.3% to EUR 40 billion
- Japan managed services CAGR 9.0% to USD 35 billion by 2030
- Brazil managed services growth at 11.2% CAGR to USD 22 billion by 2030
- Canada managed services CAGR 7.9% to CAD 27 billion by 2030
- UK managed services market forecast CAGR 6.7% to GBP 45 billion by 2030
Growth Projections Interpretation
It appears the entire corporate world has collectively shrugged and decided, "You know what, just manage it for us," as evidenced by the relentless, multi-trillion-dollar march of managed services where even the modest print server is getting a glamorous, double-digit growth glow-up.
Market Size and Value
- The global managed services market was valued at USD 271.12 billion in 2022
- In 2023, the managed services market in North America accounted for over 38% of the global share, valued at approximately USD 110 billion
- The IT managed services segment dominated the market with a 45.2% revenue share in 2022
- Europe's managed services market reached EUR 95 billion in 2023, driven by cloud adoption
- SMBs contributed 52% to the global managed services revenue in 2023, totaling USD 152 billion
- The managed security services sub-market was worth USD 35.6 billion in 2022 globally
- Asia-Pacific managed services market size stood at USD 45.2 billion in 2023
- Cloud managed services generated USD 120 billion in revenue worldwide in 2023
- The U.S. managed services market was valued at USD 92.5 billion in 2022
- Managed network services segment held 28% market share, equating to USD 82 billion globally in 2023
- Latin America's managed services market reached USD 12.4 billion in 2023
- Enterprise segment in managed services was USD 165 billion in 2022
- Managed data center services valued at USD 48 billion globally in 2023
- Middle East and Africa managed services market hit USD 18.7 billion in 2023
- BPO managed services sub-segment worth USD 55 billion in 2022
- Managed services market in India valued at USD 8.2 billion in 2023
- Global managed mobility services market size was USD 22.5 billion in 2022
- UK managed services market reached GBP 25 billion in 2023
- Managed application services generated USD 40 billion revenue in 2023 worldwide
- Australia's managed services sector valued at AUD 15.4 billion in 2023
- Managed services market for healthcare was USD 28 billion globally in 2022
- China's managed services market size hit CNY 250 billion in 2023
- Managed infrastructure services worth USD 75 billion in 2023
- Germany managed services market at EUR 22 billion in 2023
- Managed services in BFSI sector valued USD 32 billion globally 2022
- Japan managed services market size USD 18.9 billion in 2023
- Managed communications services USD 26 billion in 2023 worldwide
- Canada managed services market valued CAD 14.7 billion 2023
- Global managed print services market USD 42 billion in 2022
- Managed services market in Brazil USD 9.8 billion 2023
Market Size and Value Interpretation
North America’s hefty $110 billion slice of the global managed services pie proves that when it comes to outsourcing IT, the world firmly believes in putting its tech troubles—and trust—in someone else's hands, especially SMBs who, bless them, are driving over half of this colossal $271 billion industry because apparently even the little guys know when to call for backup.
Regional Statistics
- North America holds 38% of global managed services market share in 2023
- Asia-Pacific region accounted for 25% of managed services revenue in 2023, totaling USD 75 billion
- Europe represents 28% market share in managed services with strong cloud focus
- U.S. dominates North America with 85% regional managed services market share
- China contributes 40% to Asia-Pacific managed services market in 2023
- Germany holds 22% of European managed services market share in 2023
- India managed services market share in APAC is 18% as of 2023
- Latin America accounts for 5% global managed services share, led by Brazil
- UK represents 15% of Europe’s managed services market in 2023
- Middle East holds 3.5% global share in managed services, UAE leading
- Australia contributes 12% to APAC managed services region in 2023
- Canada has 10% share in North American managed services market
- Japan accounts for 20% of APAC managed services market share 2023
- Brazil leads Latin America with 45% regional managed services share
- France holds 12% of European managed services market in 2023
- Africa sub-region 2% global managed services share growing rapidly
- Mexico managed services share in LATAM 25% in 2023
- Netherlands 8% Europe managed services market share 2023
- Singapore 15% APAC managed services hub share in 2023
- South Africa leads Africa with 35% sub-regional share 2023
- Spain 7% European managed services market portion in 2023
- South Korea 10% APAC managed services share 2023
- Argentina 15% LATAM managed services market share 2023
- Italy 9% Europe managed services share in 2023
- Saudi Arabia 40% MEA managed services share 2023
- North America expected to maintain 37% global share through 2030
- APAC projected to grow to 30% global share by 2030
Regional Statistics Interpretation
While North America still wears the managed services crown, the Asia-Pacific region is sharpening its sword for a serious challenge, hinting at a future where the global tech support throne might have a new occupant.
Vendor and Provider Stats
- Cisco holds 14.2% market share in managed services providers globally in 2023
- IBM commands 12.5% share in IT managed services segment 2023
- Accenture leads with 11.8% global managed services revenue share 2023
- Dell Technologies has 9.7% market share in managed infrastructure 2023
- AT&T occupies 8.4% share in managed network services worldwide
- HCL Technologies 7.9% share in managed security services 2023
- Verizon holds 6.8% global managed communications share 2023
- Cognizant 6.2% market share in application managed services
- Fujitsu 5.5% share in managed data center services 2023
- Tata Consultancy Services (TCS) 10.1% share in SMB managed services
- NTT Data 4.9% global managed services provider share 2023
- Capgemini holds 5.2% in cloud managed services market
- DXC Technology 4.3% share in enterprise managed services 2023
- Wipro 7.1% market share in healthcare managed services
- Infosys 6.4% share in BFSI managed services segment 2023
- BT Group 5.7% in managed network services Europe 2023
- Oracle 4.6% share in managed database services globally
- Microsoft Azure managed services provider share 9.2% 2023
- AWS holds 13.5% in cloud managed services market 2023
- HP Enterprise 4.1% share in managed print services worldwide
- Ericsson 3.8% in managed mobility services 2023
- Tech Mahindra 5.0% share in APAC managed services 2023
- Concentrix 3.5% in BPO managed services globally 2023
- Lumen Technologies 4.2% share in U.S. managed networks 2023
Vendor and Provider Stats Interpretation
This is the digital world's version of a royal rumble, where Cisco wears a slim networking crown but must constantly glance over its shoulder at IBM's consulting throne, Accenture's revenue scepter, and the cloud-laden scepters of AWS and Microsoft, proving that in managed services, no single empire reigns supreme across all domains.
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