Latest News- Managed Services Market: MDS is expected to lead the Type segment during 2025-2029

The Managed Services Market is being driven by Increased adoption of IoT solutions

The Managed Services Market is expected to grow at a CAGR of 11.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 217 billion. In today's data-driven business landscape, enterprises are leveraging managed analytics services to convert unstructured data from multiple online sources into valuable insights. Advanced analytical tools, including predictive analytics, are utilized to identify trends and patterns related to business and consumer behaviors. These insights have proven instrumental in various industries, such as banking, financial services, and insurance (BFSI), telecommunications, and healthcare, enabling them to make informed decisions and gain a competitive edge. With the proliferation of data centers and technology, companies are recognizing the importance of analyzing and utilizing data in a timely manner to reduce costs and improve efficiency. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • MDS
  • MNS
  • MSS
  • MMS
  • Others
• Deployment
  • Cloud
  • On-premises
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increased adoption of IoT solutions
• Need to adhere to regulatory guidelines and ensure compliance
• Rising focus on core competencies and improving efficiency

However, the market also witnesses some limitations, which are as follows:

• Data privacy and security risks in cloud-based services
• System integration and interoperability issues
• Shortage of skilled IT professionals

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Market Scope in Managed Services Market Research Report

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Research Analysis Overview

In the Managed Services Market, providers offer managed security services including threat intelligence, vulnerability management, data encryption, access control, two-factor authentication, and security awareness training. They also offer incident response planning, business impact analysis, disaster recovery testing, data center security, network security, firewall management, intrusion detection systems, DDoS protection, web application firewall, data masking, data tokenization, compliance frameworks such as PCI DSS, and adherence to security best practices, security audits, and penetration testing.

Market Research Overview

In the expansive IT software industry, the managed services market represents a significant segment, encompassing organizations that deliver IT support services, infrastructure management, network management, application management, cloud security, and data center operations. According to Technavio's market research, the global system software market encompasses businesses specializing in application development and management software, cloud computing software, data centers, hosting software, IT management software, mobility software, networking software, security software, and storage software. This market's size is determined by the consolidated revenue generated by these companies, excluding those producing home entertainment software.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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Website: www.technavio.com/