Report: Managed Services Market Worth $256B By 2018
A new study revealed that the managed services market will grow from $142.75 billion in 2013 to $256.05 billion in 2018.
The MarketsandMarkets report titled "Managed Services Market [Managed Data Center, Managed Network, Managed Information, Managed Mobility, Managed Infrastructure, Managed Communications, Managed Security] – Global Advancements, Market Forecasts and Analysis" projected that the managed services market will show a compound annual growth rate (CAGR) of 12.4 percent from 2013 to 2018.
The report further noted that the "recent trend in the industry shows that there is a high demand for managed services across every industry vertical," which is good news for managed services (MSPs) looking to branch out into new verticals in 2014.
Other key report findings include the following:
- Implementing managed services will reduce IT costs by 30 to 40 percent in organizations, according to the report.
- There are new managed services, along with aggressive pricing in services, being offered across all industries, resulting in an increase in the overall revenues of the managed services, the report said.
- According to the study, there is an increase in outsourcing of wireless, communications, mobility and other value added services, such as content and e-commerce facilities.
The report concluded that North America is expected to be the largest market in terms of revenue contribution. On the other hand, Europe, Asia Pacific (APAC), Latin America (LA), and Middle East and Africa (MEA) regions are expected to experience increased market traction in the upcoming years.
