LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global managed services market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global managed services market is expected to grow at a CAGR of over 11% during the forecast period, according to Technavio analysts. A key factor driving the market’s growth is the increased adoption of IoT solutions. IoT is a network of physical, tangible objects that can communicate among themselves and is interconnected through technology and with the internal and external environment. It connects hardware devices, embedded software, communication services, and managed services. It creates smart communication environments such as smart homes, smart shopping, smart transportation, and smart healthcare. Smart machines can control and monitor various objects using microcontrollers through the internet from a remote location with the help of IoT technology. IoT allows managed services because smart connected devices require managed communication services and MMS for machine to machine communication (M2M).
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In this report, Technavio highlights the Advent of big data and analytics services as one of the key emerging trends driving the global managed services market:
Advent of big data and analytics services
Many firms are adopting analytics services to transform unstructured data gathered from various online channels into structured data to derive meaningful insights. Data is analyzed using advanced analytical tools such as predictive analytics to understand the pattern related to business and consumer behaviors. Analytical tools have been aiding numerous industries such as the BFSI, telecommunications, and healthcare to take key decisions at organizational levels to improve customer service. With the adoption of data centers and technology, most of the enterprises are witnessing abundant data. Companies are concentrating on analyzing and using this data in a timely fashion to get a competitive advantage over cost and time. These companies are finding the prospect of big data and designing their IT strategy to capture such opportunities.
“Big data can help government banks to detect fraudulent transactions. With the increasing amount of digitization, governments worldwide are dealing with the digitization of information such as digital records of citizens. To make the most of this data, governments worldwide are focusing on the adoption of big data infrastructure. This has increased the awareness of the need to outsource data analytics activities among governments and large organizations,” says a senior analyst at Technavio for research on enterprise application.
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Global managed services market segmentation
This market research report segments the global managed services market by type (MDS, MNS, MSS, and MMS) and key regions (the Americas, APAC, and EMEA).
The MDS segment dominated the global managed services market in 2017 by accounting for a market share of approximately 30%. The market share of this segment will increase to some extent by 2022.
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