Managed Services Market to Reach $393.72 Billion by 2028 | At Least 60% Organizations to Depend on Managed Services by 2025

Westford, USA, July 07, 2022 (GLOBE NEWSWIRE) -- The managed services market is growing at a rapid pace as organizations are looking for new ways to optimize their IT operations and improve efficiency. Managed services providers (MSPs) offer a comprehensive suite of IT services that can be customized to meet the specific needs of an organization. MSPs typically provide 24/7 monitoring and management of an organization's IT infrastructure, including servers, networks, and storage systems. Organizations are turning to managed services for a number of reasons, including the need to reduce costs, improve operational efficiencies, and free up internal resources to focus on more strategic initiatives. In many cases, managed services can provide a higher level of service than an organization could achieve on its own. For example, MSPs often have access to best-in-class tools and processes that they can leverage on behalf of their clients. In addition, MSPs typically have highly skilled staff who are experts in managing complex IT infrastructures. The managed services market is expected to continue to grow at a rapid pace in the coming years as more organizations look to outsource their IT operations. This growth will be driven by factors such as the increasing complexity of IT environments, the need for organizations to do more The MSP model has been growing in popularity as businesses look for ways to improve efficiency and control costs. As businesses become more reliant on technology, they need to be able to trust that their systems will be up and running when they need them. Managed services give businesses that peace of mind, knowing that there is someone who is proactively monitoring and managing their IT infrastructure. Get sample copy of this report: More than 60% of Organizations to Stay Dependent on Managed Services Market Organizations across the globe have been reconsidering their IT strategies in recent years in order to stay ahead of the curve and remain competitive. One of the key areas that has seen a lot of change is the way organizations procure and manage their IT services. In particular, there has been a shift away from traditional in-house models towards more outsourced and managed service models. Most of the organizations in the global managed services market are opting for the services to minimize their IT infrastructure expenditure and focus more on their core business activities. Moreover, with the help of these services, enterprises can achieve faster deployment of new applications and technologies, which subsequently enhances their agility and competitiveness. The growing trend of Bring Your Own Device (BYOD) in organizations is also fueling the demand for managed services market as these services help in managing and securing BYOD devices effectively. As a result, organizations are increasingly turning to managed service providers (MSPs) to manage their IT infrastructure and operations due to the benefits they offer, such as improved efficiency and reduced costs. In fact, more than 60% of organizations are expected to be dependent on MSPs by 2025. More than 60% of organizations will stay dependent on managed services, according to a new study by Managed Services Provider (MSP) Standard. The study, which polled 1,000 MSPs from around the world, found that 62% of respondents believe their clients will continue to need some form of managed services in the future. The study also found that the majority of MSPs (69%) in the global managed services market are currently offering or plan to offer cloud services within the next 12 months. This is in line with other studies that have predicted strong growth for the cloud market in the coming years. Interestingly, when asked about the biggest challenges they face when selling cloud services, MSPs cited price competition (30%), lack of understanding from potential customers (23%), and getting locked into a single vendor (18%). These results suggest that MSPs are aware of the obstacles they need to overcome in order to succeed in the cloud market in order to expand their market share and generate more market revenue. The dependence on MSPs is further increased by the trend of digital transformation, which is resulting in the need for more complex IT infrastructure and operations. As businesses strive to become more agile and efficient, they are adopting new technologies such as cloud computing, big data, and artificial intelligence (AI). However, managing these new technologies can be challenging for organizations in the managed services market that do not have the in-house expertise or resources. Therefore, they are turning to MSPs that can provide the necessary skills and experience. Growing Penetration of IoT Devices to Add Fuel to Demand for Managed Services As the Internet of Things (IoT) continues to grow and expand, so too does the demand for managed services. More ... Full story available on