The global managed infrastructure services market was valued at USD 64.58 billion in 2018, and it is expected to reach USD 116.03 billion by 2024, registering a CAGR of 9.95%, during the period of 2019

NEW YORK, Nov. 11, 2019 /PRNewswire/ --

Market Overview
The global managed infrastructure services market was valued at USD 64.58 billion in 2018, and it is expected to reach USD 116.03 billion by 2024, registering a CAGR of 9.95%, during the period of 2019-2024. Technology trends such as analytics, Cloud, IoT, and Cognitive Computing are creating new business imperatives. Companies are adopting these digital technologies to build innovative business models, optimize business processes, empower their workforce, and personalize the customer experience.

Download the full report: https://www.reportbuyer.com/product/5826197/?utm_source=PRN

- Technological proliferation and advancement of cloud-based technology boosting the demand is driving the market. Over the past few years, daily operations of break-fix and troubleshooting of servers are being outsourced to reduce their attention over IT, thereby allowing the expertise of IT service vendors. An increase in the adoption of digital transformation with mobility, and cloud has led to infrastructure modernization, and the need to keep up with the latest technological enhancements has led organizations to opt for infrastructure managed services. Additionally, according to LogicMonitor, 83% of enterprise workloads are projected to be in the cloud by 2020.
- Improved cost and operational efficiency and update of outdated hardware is driving the market. Managed services offer several benefits, relentless focus on continuous improvement of operational and business processes being the most significant one. According to the Cisco Systems, managed services reduce recurring in-house costs by 30-40% and increase efficiency by 50-60%. Moreover as new and enhanced equipment are introduced to the infrastructure, the old hardware might not always be compatible. As data center operations increase, the hardware could become more of a liability which slows down operations than an asset that enhances them.
- Declining profit margins and integration and reliability concerns is restraining the market to grow. Emerging technologies, such as mobility and cloud computing, are rapidly changing the business landscape. Companies have to be in-sync with these technologies to deliver desired benefits to the customers. Reliability concerns are also challenging the market to grow when hiring another partner to host critical business infrastructure.

Scope of the Report
Managed infrastructure services refer to outsourcing certain infrastructure and inventory activities of an organization to a third-party managed service provider (MSP). These services are often taken on a contract basis, where the MSP has to full fill a set of agreed standards to benefit from the contract. These practices are typically found in large-scale and small-scale organizations for desktop & print services contracts, servers, etc.

Key Market Trends
The Cloud Segment is Expected to Exhibit the Highest Growth

- The advent of cloud-deployment has brought changes in the managed infrastructure services providers (MISP) space and made them embrace a delivery model for delivering technology services over public or private cloud. Considering the advantages the cloud offers, businesses are seeking MISPs that have partnerships with cloud providers (such as Google, AWS, Microsoft, etc.), to choose the right cloud providers, migrate to the cloud, and manage cloud services after the transition.
- With the increasing demand from enterprises, various companies, such as HC (Host Color), in 2019, launched a managed cloud infrastructure service. The managed services are available with public cloud servers, hybrid cloud, and hosted private cloud, where managed clouds infrastructure include installation of Linux or Windows-based operating system, regular maintenance and updates of software programs and applications.
- Recent technology trends, such as enhanced cloud infrastructure, IoT enabled ecosystem have provided opportunities in creating new business imperatives across the US IT sector, and the penetration of public cloud in United States is predicted to be higher in 2020. Additionally, Fujitsu has been recognized by Amazon Web Services (AWS) as an official AWS managed infrastructure provider partner, thereby validating the company's capabilities in accelerating cloud transformation, and helps fast-track digital transformation and accelerate innovation for enterprises and government. Such instances are expected to fuel the demand of the market across the United States during the forecast period.

Asia-Pacific Account for a Significant Market Growth

- Asia-Pacific accounts to hold highest market growth due to dominating source of IT and IT-enabled services in various countries such as China and India. According to IBEF, the Indian IT and IT-enabled services industry accounted for over 55% of the global services sourcing businesses in 2018.
- India most recently got its first hyper-scale data center park on September 27, 2019, where Yotta Infrastructure inaugurated this facility. Also most recently In July 2019, NTT Ltd launched its services in India and becomes the world's top 11 ICT service provider to enter India. NTT plans to introduce an array of services for financial services, pharmaceuticals, telecommunications, energy & utilities, manufacturing, automotive and technology sectors`.
- China is going through rapid development and is set to be the global leader in new emerging IT technologies like Edge computing, Artificial intelligence, Autonomous cars, and IoT. Due to which there is going to a surge in demand for managed infrastructure services in the future. The most recent development in August 2019 was from Shanghai, where the Government released the "Several Opinions on Promoting the Development of Multinational Corporation Regional Headquarters in Shanghai" to develop Shanghai as the headquarters for MNCs. This suggestion was made to boost foreign investment in the service sector of Shanghai.

Competitive Landscape
The managed infrastructure services market is highly fragmented as many large, technologically established players present in the industry, the rivalry is expected to be on the higher side. Additionally, in order to sustain in the market and retain their clients, companies are employing powerful competitive strategies, thereby, intensifying competitive rivalry in the market. Key players are Fujitsu Ltd, Cisco Systems Inc., Dell Technologies Inc., etc. Recent developments in the market are -
-Sep 2019 - South Slope, a rural independent telecommunications cooperative, deployed the Cisco NCS5500 series platform to meet its growing capacity demands, and using its existing network to deliver data, voice, and video services, along with a variety of business ethernet and cellular backhaul services to its customers throughout eastern Lowa. To facilitate the transition, increase the power of the underlying transport network, and reduce operational complexity, Cisco and South Slope created a converged solution based on the Cisco NCS5500 router series. With this new solution, South Slope was able to utilize integrated multiplexing optics in the routing platform to exceed 200G wavelengths over the existing packet core.
-January 2019 - IBM Services signed a USD 540 million multi-year managed services agreement with Nordea Bank, a financial services company based in Sweden. Nordea may outsource its IBM Z operations to the company. The agreement reportedly outsources a majority of IBM Z infrastructure services in five countries, where Nordea operates. The deals also allow Nordea to have continued access to IBM's latest technology advancements, including the cognitive services while maintaining a sustainable IBM Z organization at the same time.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- Report customization as per the client's requirements
- 3 months of analyst support

Download the full report: https://www.reportbuyer.com/product/5826197/?utm_source=PRN

About Reportbuyer
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers

For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: sarah@reportbuyer.com
Tel: +1 (718) 213 4904
Website: www.reportbuyer.com

View original content:http://www.prnewswire.com/news-releases/the-global-managed-infrastructure-services-market-was-valued-at-usd-64-58-billion-in-2018--and-it-is-expected-to-reach-usd-116-03-billion-by-2024--registering-a-cagr-of-9-95-during-the-period-of-2019--300955324.html

SOURCE ReportBuyer