Global Managed Information Services Market Report 2019 Forecast to 2024

Market Overview

The managed information services market is expected to register a CAGR of 14.4%, during the forecast period 2019- 2024. The fact that business models face extreme pressure from regulatory, macroeconomic and other critical market forces, have necessitated an increased focus on operational efficiency and effectiveness, thus driving the market growth.

Small and medium scale companies have tight funds to invest for their business owing to which they prefer to outsource few components of the business including IT infrastructure. In-house IT infrastructure including setting up data centers may cost high and cause a diversion from core competencies to stabilize the investments. Thus, this is propelling the managed data center services growth during the forecast period.

However, in a report titled 'The Future of Jobs 2018', the World Economic Forum (WEF) said around 54% of the global workforce had to be re-skilled or up-skilled to work in disruptive and digital technologies. This is causing a major challenge to the market.

Scope of the Report

The organizations nowadays are outsourcing IT infrastructure and need to third-party service providers. These providers are offering various functions such as data recovery, network security, and authentication, which provides high-quality services. Telecom Service Providers are making use of their existing scale and IT savviness to shift beyond data services and voice to selling managed offerings

Competitive Landscape

The market is concentrated with some of the companies occupying major share and offering services such as proactive support and strategic IT planning to industries like retail, BFSI and Telecom.

May 2019 - Speedcast International, one of the world's trusted providers of remote communication and IT solutions, announced a strategic partnership to deliver analytics solutions for optimized operational decision-making. The partnership strengthens Speedcast's Internet of Things (IoT) capabilities and helps enable the company to play a prime systems integrator role in the deployment of end-to-end IoT solutions.

May 2019 - Pondurance, a leader in managed detection and response security services, announced the launch of a referral partner program that enables managed IT service providers (MSPs) to augment their offerings with managed security services to help protect their customers against cyber attacks.

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