Managed Services Market: Global Advancements, Market Forecasts and Analysis 2013-2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-18 12:25:02
The global managed services market is suggested to have reached a value of around $142.7 billion at the beginning of 2013, and is forecast to grow to a total of $256 billion by 2018. This suggests a CAGR growth rate of around 12.4% between 2013 and 2018.
In the current scenario, the ´high tech and telecommunication´ vertical continues to be the largest adopter of managed services. In terms of regions, North America is expected to be the largest market in terms of revenue contribution, while Europe, Asia Pacific (APAC), Latin America (LA) and Middle East and Africa (MEA) regions are expected to experience increased market traction in the coming years.
The recent trend in the industry shows that there is a high demand for managed services across every industry vertical. The implementation of Managed Services reduces the IT costs by 30 to 40 % in the enterprises. This enables organizations to have the flexibility and technical advantage with them. Enterprises having their services outsourced look forward to risk sharing and to reduce their IT costs and IT commitments, so that they are able to concentrate on their core competencies. Organizations implementing managed services have reported almost 50-60% increase in the operational efficiency of their outsourced processes.
Enterprises have accepted outsourcing services as a means to enable them reduce their Capital Expenditure (CapEx) and free up internal sources. Newer managed services that penetrate almost all the industry domains, along with aggressive pricing in services, are being offered. This results in increase in the overall revenues of the managed services market. It is observed that there is an increase in outsourcing of wireless, communications, mobility and other value added services, such as content and e-commerce facilities. With increasing technological advancements and the cost challenges associated with having the IT services in-house, the future seems optimistic enough for application services providers and managed services providers.
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