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Explore Global managed IT service providers market trends and opportunities forecasted till 2021

IT Market Research

Changes such as increasing digitization and migration to the cloud infrastructure led to increase in demand for managed IT services and changed the market dynamics globally. Global industry leaders and large organizations see an increasing trend of outsourcing across various industries to drive the managed IT services market.

Market Research HUB has added a new report titled "Global Managed IT Service Providers Market Make an Inquiry about this news Report" to its vast database of market reports. The global market for managed IT services reached $149.1 billion in 2016.

This market is estimated to reach $256.5 billion in 2021 from $166.7 billion in 2017 at a compound annual growth rate (CAGR) of 11.5% for 2017-2021. 

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Increasing demand from cloud based services from the banking, financial services and insurance, technology, and healthcare industries is expected to drive this market. Many companies are expanding their geographical presence inorganically through mergers and acquisitions.