Managed services market size forecast worldwide 2020-2027

The global managed services market was valued at 161.37 billion U.S. dollars in 2021. The largest market is North America, while the fastest growing market is Asia Pacific. Overall, the global managed services market is expected to exceed 300 billion U.S. dollars by 2027.

What is managed services?

The managed services market is primarily concerned with the outsourcing of certain computing and IT related processes such as cloud computing, IT infrastructure, and managed IT security. The market is dominated by large tech companies such as IBM, Accenture, Cognizant, and Capgemini, who provide managed computing services to client companies of all sizes around the world.

What managed services products are popular?

As of 2020, the most popular managed services are hosting and storage/backup in both Europe and North America. These services provide clients with the benefits of large IT infrastructure without the need for large amounts of in-house hardware. Further, managed services for cloud, container technology, big data, and internet of things (IoT) platforms are expected to hold much potential for managed service providers in the future. This is due to the fact that these technologies are increasingly adopted and deployed by organizations around the world to benefit their overall digital transformation strategy.