Kenneth Research released a report on IT Managed Services Market consisting of detailed analysis of the market and industry insights over the forecast period of 2022-2031. The latest trends and business opportunities in the market are discussed in the report on the basis of analysis of the market value and calculation of the CAGR during the forecast period. The market is anticipated to grow at a significant CAGR over the forecast period.
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U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for IT Managed Services Market Products.
As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017. In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
IT Managed Services (ITMS) market in India, one of the most lucrative business segments within the IT services market is currently experiencing a steady growth and with holds a strong potential for the ensuing years. Post global slowdown, organizations are gradually recovering and hence majority of the CIOs are scouting for cost effective IT solutions, which in turn has shaped the growth curve for ITMS in a splendid fashion. With more and more organizations moving to cloud computing, the market will further enjoy ample growth aspects. Currently, the market is flooded with a plethora of Managed Service Providers (MSPs) and channel partners, wherein they offer a comprehensive range of services, applications/softwares. Competition in the market is stiff and the vendors are constantly revamping their market strategies in order to garner a better market position.
The report begins with an introduction section, defining the concept of IT managed services and differentiating it from the traditional outsourcing model. The section clarifies on the various categories of services generally opted by users. It also briefs about the prevailing service packaging trends and characteristics of the market.
IT managed service market overview of the report talks about the Indian market as a whole and highlights important factors driving the market, most popular services prevailing in the market, briefs about the competitive scenario and elaborates on the market size and forecasted growth figures in a graphical manner. Primarily, the market is boosted by the increasing demand for cost effective IT solutions and services amongst organizations. The market is segregated according to business segments and service type. It also provides forecasted growth figures for these individual segments. Basically, the market can be segregated according to the user’s business type and the type of services opted by users. The section features a detailed portion on these individual segments wherein it graphically represents growth figures till the year 2016. The section also features a section which has been derived after a thorough primary research, wherein vendors specializing in different types of service categories have been mentioned which will help readers to get an insight about the current service offerings. Moving on, the report talks about the SMB market space wherein it mentions the prime factors driving the market, service preferences as well as the market size and forecasted growth figures till the year 2016.
Remote managed services section elaborates on the definition, benefits, product offerings and the competitive scenario in India. It lists down the most widely used remote managed services in the market. Each of these individual services has been elaborated in details to give the readers a clear view of the service and derive their pros and cons. Staff augmentation vs. IT managed services section in the report distinguishes the two concepts in details. The section has been designed to provide readers can easily chalk out the benefits and disadvantages of each of them. To further provide a better understanding strategic market insights from the perspective of both users as well as vendors has been listed.
Transition plan section in the report deals with the various phases that client organizations are required to pass prior to the adoption of managed services. Each individual phase has been elaborated in detail to provide a clear understanding of the topic. This section is immediately followed by the cost component section which is basically a snapshot of the various cost associated benefits an organization is likely to gain. A total of eight cost benefits have been graphically depicted. The cost factors have been placed in a graph with respect to its priority and impact on the business. This graph has been designed especially to facilitate better decision making for CIOs, prior to managed services adoption.
Service pricing model is a section which enlightens the readers on the various pricing strategies that prevail currently within the IT managed services market. Research shows that altogether five different pricing strategies exist in the current market and users depending on their needs and requirement opt for these services. Generally, the pricing strategies opted by users depend on factors including organization size, employee strength, industry vertical they operate in and of course the budget. An analysis of the market influencers brings forth the key drivers fueling growth in the market including the increased IT infrastructure complexities, the recent global slowdown and the huge presence of SMBs in India. Whereas the key challenges identified for the market comprises the lack of confidence on MSPs and lack of technology awareness.
Key managed service providers have been profiled in details within the report which enables readers to get a clear picture of the current competitive scenario. The section lists the basic details of the players such as corporate information, business highlights and key members. The section also features financial analysis of key vendors which in turn provides us with the financial health of players.
Key channel partners section lists down the major channel partners operating in the managed service space across India. It basically lists down the fundamental characteristics which are a mandate for conducting profitable operations, channel partner selection process by vendors, the numerous benefits which can be reaped from the market and the ongoing trends. The section serves a value added database containing names and addresses of some of the top channel partners in India.
The report concludes with a section on case studies, providing some of the major managed services adoption in India, thereby enlightening readers on real life scenarios. The section strategic recommendations contain an analysis of the growth strategies of the IT managed services market in India. Effective marketing strategies such as efficient sales campaigns coupled with a strong region specific market penetration plan will drive sales for the vendors in ITMS market.
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The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of IT Managed Services Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Players
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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