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Home | Search Global IT News: IT News & Press Release Distribution: Managed Services Market Size, Share, Trends, Analysis and Forecast to 2026 (IT-NEWSWIRE.COM, May 26, 2022 ) The global Managed Services Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.9% during the forecast period, to reach USD 354.8 billion by 2026 from USD 242.9 billion in 2021. Major factors that are expected to drive the growth of the managed services market include lack of skilled IT professionals, rise in demand for secure IT infrastructure during the COVID-19 pandemic, cost and risk reduction, and requirements for regulatory compliance and security. Enterprises across the globe and verticals are highly investing in their IT infrastructure to maintain their competitive position and attain operational excellence. As enterprises are adopting highly complex technologies regardless of their size, they turn to MSPs to manage their IT infrastructure, thus delivering services faster and more efficiently. These technologies are forcing enterprises to redefine their business strategies and emphasize information security. Managed services help enterprises maintain and manage the IT infrastructure and address risks associated with IT assets in an efficient and cost-effective way. This helps enterprises focus on their core competency without increasing the IT footprint. Download PDF Brochure : https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1141 Managed service vendors around the globe have increased their offerings in the managed services segment. The emergence of new technologies such as blockchain, AI, ML, and data analytics is helping MSPs to enhance their offerings and empower organizations. Enterprises require experts to guide them with their complex IT infrastructure. MSPs around the globe are helping organizations with different managed services such as managed security and managed networks. The objective of these managed services is to enhance and bolster different business verticals so that productivity can be improved and organizations can focus on their core businesses. Lack of IT skilled professionals, cost reduction and IT budget constraints, need for cloud-based managed services, high security monitoring to avoid high data loss and downtime cost, and enhanced business productivity are the major factors expected to drive the growth of the managed services market. The lack of sales and marketing staff, training, and cybersecurity could create challenges in front of MSPs during the forecast period. The major factor that may restrain the growth of the managed services market is increasing pressure from statutory regulations across the globe. However, high cloud adoption, the need for automation, and a continuous increase in the demand from SMEs are creating opportunities for MSPs. The market is expected to be driven by lack of skilled IT professionals Organizations existing IT staff may not be adequately capable of keeping up with new technological trends. Hiring skilled professionals for SMEs and small businesses in their growing stage might not be a good idea as it will misbalance the budget for organizations. A lack of skilled IT security services has made organizations vulnerable to cyber-attacks hindering their brand equity. Managed services can help in bridging the gap by providing their expertise to organizations so that they can focus on their core businesses. Lack of IT skilled professionals can boost managed services market, as it can support growing enterprises that cannot afford to hire additional permanent staff for their IT systems. These technologies are complex in nature, thus required IT experts to deliver maximum output. However, enterprises are finding it difficult to find such talents and thus are reaching out to MSPs. Request Sample Pages : https://www.marketsandmarkets.com/requestsampleNew.asp?id=1141 According to a survey, 60% of enterprises reported that the IT challenges are becoming more acute, and IT is getting harder to manage, while ~90% of the IT enterprises report that their cloud skills gaps have nearly doubled in the past three years (2016–2019), in one or more cloud disciplines, compared with just 50% in 2016. Nearly 70% of the enterprises are reaching out to MSPs to fill cloud IT skill gaps. The managed services market report includes major vendors, such as are IBM (US), Fujitsu (Japan), Accenture (Ireland), Atos (France), Cisco (US), DXC (US), TCS (India), Rackspace (US), AT&T (US), Verizon (US), Dimension Data (South Africa), Infosys (India), HCL (India), Ericssion (Sweden), GTT Communications (US), NTT Data (Japan), Happiest Minds (India), Huawei (China), Nokia Networks (Finland), CenturyLink (US), Wipro (India), Cognizant (US), Capgemini (France), BT (UK), Deloitte (UK), Secureworks (US), Alert Logic(US), BAE Systems (UK), Trustwave (US), Hughes (US), MeTtel (US), Microland (India), Optanix (US), Essintial (US), Intact Tech (US), 1-Net (Singapore), Ascend technologies (US), SecureKloud (India), Aunalytics (US), AC3 (Australia), Cloud Specialists (Australia), Corsica Technologies (US), and Empist (US). The major players in the managed services market have implemented various growth strategies to expand their global presence and increase their market shares. Key players such as Accenture, IBM, Fujitsu, Atos, and Cisco have majorly adopted many growth strategies, such as new services and product launches, acquisitions, and partnerships, to expand their service portfolios and grow further in the managed services market. About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. 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