Managed services market to hit $449Bn by 2028 — The Business Research Company
LONDON, UNITED KINGDOM — The managed services market is experiencing a significant surge, with projections indicating an increase to $449.79 billion by 2028 from $275.42 billion in 2023, marking a 10.9% compound annual growth rate (CAGR).
In its latest report, market research and consulting firm The Business Research Company attributed this growth to the growing need for cost efficiency, scalability, and a focus on core competencies amid increasingly complex IT environments and globalization.
This forecasted growth is also driven by the rise in cyber threats, the challenges of managing a remote workforce, a surge in cloud adoption, and an emphasis on business continuity.
The burgeoning number of small and medium-sized businesses (SMBs) is another key factor propelling the managed services market forward as they increasingly rely on managed services for IT infrastructure, cybersecurity, and network management.
Service personalization, data analytics, customer experience, compliance management, and scalability demands are among the major trends anticipated during this period.
Region-wise, North America was reported as the largest region in the managed services market in 2023. However, Asia-Pacific is expected to be the fastest-growing region within the forecast period.
The Business Research Company’s report also cited several major companies operating in the managed services market, including Accenture, IBM, Tata Consultancy Services, Capgemini SE, Cognizant, and Infosys.
