DUBLIN--(BUSINESS WIRE)--The "Managed Information Services Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The managed information services market is expected to register a CAGR of 14.4%, during the forecast period 2019- 2024.
The fact that business models face extreme pressure from regulatory, macroeconomic and other critical market forces, have necessitated an increased focus on operational efficiency and effectiveness, thus driving the market growth.
- Small and medium scale companies have tight funds to invest for their business owing to which they prefer to outsource few components of the business including IT infrastructure. In-house IT infrastructure including setting up data centers may cost high and cause a diversion from core competencies to stabilize the investments. Thus, this is propelling the managed data center services growth during the forecast period.
- However, in a report titled 'The Future of Jobs 2018', the World Economic Forum (WEF) said around 54% of the global workforce had to be re-skilled or up-skilled to work in disruptive and digital technologies. This is causing a major challenge to the market.
Scope of the Report
The organizations nowadays are outsourcing IT infrastructure and need to third-party service providers. These providers are offering various functions such as data recovery, network security, and authentication, which provides high-quality services. Telecom Service Providers are making use of their existing scale and IT savviness to shift beyond data services and voice to selling managed offerings
Key Market Trends
Data Backup and Recovery to Dominate the Market
- Current enterprise data storage is built around three major challenges: storing massive amounts of data, protecting massive amounts of data, and managing massive amounts of data for value and retention.
- Enterprise Data Storage 2018 Report estimates that data storage needs is going to skyrocket in coming years. Loss of data is one of the unacceptable activities by any organization owing to the storage of vital information associated with customers, payment method, and address.
- In addition, recovery of any lost data is crucial to the company. This gives rise to the services such as data backup and recovery, which manage the data in the most efficient way.
- According to Data Storage Trends 2018 survey, the biggest challenge involved with company's current storage infrastructure is aging gear at 18% followed closely by lack of storage capacity at 17%, and high costs of operation and security/compliance issues at 13%.
Asia-Pacific to Witness the Highest Growth
- Asia-Pacific is in the middle of a transformation powered by cloud technologies. The increasing proliferation of smartphones and tablets are causing major companies to establish their cloud data center in Asia-Pacific.
- In India through fintech initiatives like Jan Dhan Yojana, Aadhaar, and the Unified Payments Interface (UPI), the Government of India is working towards digitizing payment systems and increasing financial inclusion. This is causing the government to outsource IT infrastructure.
- Asia is a major player in the changing retail landscape due to rise in e-commerce startups. To retain the data authenticity generated by retail industry (for instance, customer shopping data for personalization), move towards managed information services is of utmost importance.
The market is concentrated with some of the companies occupying major share and offering services such as proactive support and strategic IT planning to industries like retail, BFSI and Telecom.
- May 2019 - Speedcast International, one of the world's trusted providers of remote communication and IT solutions, announced a strategic partnership to deliver analytics solutions for optimized operational decision-making. The partnership strengthens Speedcast's Internet of Things (IoT) capabilities and helps enable the company to play a prime systems integrator role in the deployment of end-to-end IoT solutions.
- May 2019 - Pondurance, a leader in managed detection and response security services, announced the launch of a referral partner program that enables managed IT service providers (MSPs) to augment their offerings with managed security services to help protect their customers against cyber attacks.
Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Limited IT Budget of SMEs Leads to Outsourcing of IT Infrastructure
4.4 Market Restraints
4.4.1 Lack of Skilled Professionals
4.5 Industry Attractiveness - Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Function
5.1.1 Data Backup and Recovery
5.1.2 Network Monitoring and Security
5.1.3 Human Resource
5.1.4 System Management
5.2 By Deployment Mode
5.3 By End-user Vertical
5.3.1 Telecommunication and IT
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Fujitsu Ltd.
6.1.2 Cisco Systems Inc.
6.1.3 IBM Corporation
6.1.4 Hewlett-Packard Enterprise
6.1.5 Microsoft Corporation
6.1.6 Dell Technologies Inc.
6.1.7 Nokia Solutions and Networks
6.1.8 Accenture PLC
6.1.9 Rackspace Inc.
6.1.10 Tata Consultancy Services Limited
6.1.11 Wipro Ltd.
6.1.12 Deutsche Telekom AG
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/kpchhx