Managed services market to reach $507Bn by 2030
The global managed services market is forecasted to grow to US$507.13 billion at a compound annual growth rate (CAGR) of 9.76% between 2020 and 2030.
According to a report by market analysis firm Market Research Future (MRFR), the increasing need for reduction in the maintenance and administration costs through organizations will boost the industry through the next decade.
Moreover, Technavio predicted that the managed services market will witness “massive growth over the coming years” with all the financial and industrial activities returning on track.
Among all the Managed Information Service (MIS) types, the Business Process Outsourcing (BPO) segment is predicted to ensure the top spot across the global managed services market power the review timeframe.
The report explained that the rising integration of BPO as part of a business strategy will cause an upsurge in the segment’s performance. Additionally, implementing BPO services will likely be propelled by investments in cloud computing, social media management tools, and a focus on process automation.
Meanwhile among regions, North America is set to lead the market as its tech companies as IT reduce their operational expenses, especially in the wake of the pandemic.
