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Research report explores the top trends in managed services market to 2022

IT Market Research

The managed services market is expected to grow from USD 152.45 Billion in 2017 to USD 257.84 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 11.1%. The rapid pace of the technological advancements makes it difficult for enterprises to cope with the increased IT complexity while focussing on their core competencies. The Managed service providers empower the enterprises by managing their IT resources while they focus on their strategic business decisions.

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The managed services market is segmented by service type, deployment type, organization size, vertical, and region. Managed data center services are expected to hold the largest market share in the managed services market among other service types.

The increasing data volume has facilitated the growth of data centers, further accounting for increased adoption of managed data center services among the enterprises.

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Key Target Audience:

  • Manufacturers of Heat Exchanger
  • Traders, Distributors, and Heat Exchanger Suppliers
  • Regional Manufacturer Associations and General Heat Exchanger Associations
  • Government and Regional Agencies And Research Organizations
  • Investment Research Firms

The managed service market key trends such as growing consumption in productivity applications, workforce decentralization, globalization of business, prominence of cloud-based enterprise mobility management, and increasing use of smartphones, tablets, and laptops at workplaces has created a need to manage wide range of application and devices in enterprises, accounting for the highest growth rate among other service types.

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The Small and Medium-sized Enterprises (SMEs) segment is expected to grow at the highest CAGR in the managed services market during the forecast period. The increasing emphasis on adoption of advanced IT technologies and demand for secure IT infrastructure has facilitated the growth of managed service adoption among the SMEs.

Managed service providers facilitate SMEs by providing expert assurance to manage and monitor network security, IT infrastructure, and disaster recovery.

The break-up of primary interviews is given below.

  • By Company Type - Tier 1 – 37%, Tier 2 – 47%, and Tier 3 – 16%
  • By Designation - C level – 46%, Director level – 36%, and Others – 18%
  • By Region - North America – 26%, Europe – 30%, Asia-Pacific – 22%, Middle East & Africa – 9%, and South America –13%.

The managed services ecosystem comprises service providers such as IBM (US), Cisco (US), Accenture (Ireland), Fujitsu (Japan), Atos (France), Tata Consultancy Services (India), Wipro (India), Huawei (China), HCL (India), Ericsson (Sweden), Nokia Networks (Finland), DXC Technology (US), Dimension Data (South Africa), Unisys (US), and Netmagic (An NTT Communications Company) (India).

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Asia Pacific, North America, Western Europe, Central & Eastern Europe, South America, and Middle East & Africa are considered as the main regions in the heat exchangers market in the report. Currently, North America is the largest market for heat exchangers, with the maximum share of the global market.

The region has huge installed plant capacities of heat exchangers and is an export-based heat exchangers market. The heat exchangers market is emerging in various countries such as China, India, Saudi Arabia, and Brazil due to increasing industrial activity.

Also, a large number of emerging manufacturers from Asia Pacific and Eastern Europe are expected to reduce import dependence of various regions which is further expected to drive the heat exchangers market in future.

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