- IBM Corporation - Oracle Corporation - Internap Corporation - Packet Inc. (An Equinix Inc. Company) - Scaleway Inc. - Amazon Web Services Inc. - Rackspace Inc. - CenturyLink, Inc. - LightEdge Solutions, Inc. [Report Description] In 2020, the managed services market, which will be referred to as the market that is being investigated, was valued at USD 152.05 billion. It is anticipated to grow at a CAGR of 11.2% from 2021 to 2026 to reach USD 274.20 billion by 2026.

Due to the adoption of remote working models by businesses, the demand for cloud-based solutions has increased significantly since the COVID-19 outbreak; nonetheless, different ventures like retail, fabricating, BFSI, and others have seen a critical downturn in their incomes during 2020. MSPs have also seen a decline in revenue and growth as they provide services to businesses in such industries.

Highlights Businesses and government agencies worldwide are moving more of their work-critical workloads and compute instances into the cloud from test environments.
In addition, the demand on data centers is also rising as a result of the rapidly expanding use of IoT, cloud, and big data analytics by a variety of businesses as a significant component of their digital transformation strategy. The market is expanding as a result of this.
During the forecast period, managed service providers are anticipated to have tremendous opportunities in managed services for cloud, IoT platforms, containers, DevOps, and Big Data. By 2020, 46% of network devices are likely to be machine-to-machine (IoT), making them vulnerable to attacks, according to Cisco.
Managed mobility and information services are expected to be in high demand in the investigated market. Managed services and their use in short- and long-term strategic decisions have received a lot of attention lately. It is anticipated that the successful implementation of managed services will contribute to a 25-45% reduction in IT costs and a 45-65% increase in operational efficiency.
In addition, over the course of the past few years, businesses have actively modified their strategies in order to get the most out of managed services. For instance, in recent years, businesses have placed an increasing emphasis on cutting costs by slashing the size of payments and the number of suppliers they use. Accordingly, the interest for packaged administrations has gotten momentum in the market over discrete contributions.
Due to the cost and operational advantages offered by the deployment mode, which are expected to shift the trend away from the on-premise deployment model over the forecasted period, cloud is anticipated to command a significant share of the market and even grow faster.
For instance, the study conducted by NTT Ltd. found that 52% of respondents claimed that the cloud would have the greatest transformative effect on their company's business operations.
In the current technology-driven business environment, big data stands as one of the primary drivers of manufacturers' productivity and efficiency. Key Market Trends Manufacturing is Expected to Hold a Significant Market Share. The manufacturing sector has seen a significant rise in the number of data points generated as a result of the widespread adoption of sensors and connected devices and the availability of M2M communication.
Enterprises are pitching firm to change to a shrewd industry, where information age and perception can turn out to be continuous. The evolution of analytics, from descriptive to predictive, has made the industry aware of the advantages that can be derived from this volume of data. Moving toward a metrics-based industry, which can improve decision-making through the data-driven use of statistics, is the manufacturing industry's motto.
The manufacturing industry has been able to generate data from every process point, including temperature, pressure, humidity, stress, strain, and quality, among other variables, as the idea of Industry 4.0 has had an impact on production facilities. As a result, the amount of data produced by the manufacturing industry has skyrocketed.
Big data analytics has emerged as an effective alternative to traditional methods in a number of applications in the semiconductor, consumer electronics, and automotive industries, where manufacturers must monitor numerous variables to guarantee product quality.
These big data analytic solutions are being outsourced by the majority of small and medium manufacturing businesses because they lack software solution expertise and are more focused on hardware equipment.
Their expenditure is further decreasing as a result of outsourcing software services. During the forecast period, managed services would benefit from this trend of outsourcing other software services like ERP and field service management.
Asia-Pacific is Expected to Be the Market with the Fastest Growth Digital transformation has become a top priority in China, and it is moving quickly because more businesses are putting in place formal strategies to help them. According to China Telecom, cloud computing will account for up to 20% of China's enterprise IT market by 2021, up from 3% in 2013.
By keeping up with the most recent technologies, managed service providers in China focus on minimizing security risks and optimizing operations for end users. The managed services market is primarily served by the country's telecommunications providers.
In addition, the Indian IT and IT-enabled services industry accounted for over 55% of global services sourcing businesses in 2018 and is the primary source for the majority of nations worldwide (IBEF).
Over 1,000 global delivery centers have been established in approximately 80 nations by Indian IT and IT-enabled service providers. In addition, business process management makes up 32% of the Indian IT market's revenue.
In addition, the banking industry in India is going through a massive transformation as a result of the rapid advancement of technology in their sector. As a result, these organizations have turned to cloud computing services to address their problems.
In addition, the nation's managed storage providers are investing in the creation of a BFSI-specific integrated cloud storage platform. For example, in August 2018, ESDS presented Financial People group Cloud, which offers all the cloud-based administrations to the associations in the area for resolving issues like security, consistence, and administration standards.
Competitive Landscape Major players dominate the managed services market, which is consolidated. A portion of the central parts in the market are Cisco Frameworks Inc. , IBM Company, Microsoft Enterprise, Fujitsu Ltd, and Wipro Ltd, among others. In order to increase their market presence, the market players are forming strategic alliances.

In July 2021, Fujitsu Limited successfully demonstrated the viability of high-performance, large-scale, very high-definition analyses using commercial applications that are widely used in the industrial field for fluid dynamics simulations.
In September 2021, IBM made the announcement that Virescent Infrastructure, a platform for renewable energy that is supported by KKR, a leading global investment firm, will work with IBM Global Business Services (GBS) and SAP to deploy RISE with SAP, an SAP offering that combines the components that businesses require to achieve their digital transformation goals and accelerate their move to the cloud. In order to improve business outcomes, Virescent Infrastructure selected RISE in conjunction with SAP to completely redesign their processes.