Latest News- MSP Software Market: On-premises is expected to lead the Deployment segment during 2025-2029

The MSP Software Market is being driven by Increased adoption of IoT solutions

The MSP Software Market is expected to grow at a CAGR of 16% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 55.1 million. In today's business landscape, enterprise mobility has become a necessity as employees increasingly prefer to utilize their smartphones, tablets, and portable computers for work purposes. To accommodate this trend, companies are implementing Bring Your Own Device (BYOD) policies, which necessitate specialized management and IT service delivery frameworks to ensure secure and productive work environments. The primary objective of businesses is to equip their employees with the appropriate mobile devices, leading to an escalating adoption of various operating systems and devices such as iOS, Android, Windows, smartphones, and tablets, all capable of accessing secure computer networks. This emerging trend of BYOD implementation is a global phenomenon, driven by the need to enhance workforce productivity and flexibility. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Deployment
  • On-premises
  • Cloud-based
  • Hybrid
  • Others
• Type
  • Managed data center
  • Managed network
  • Managed infrastructure
  • Managed mobility
  • Others
• Application
  • Telecom and IT
  • BFSI
  • Retail
  • Media and entertainment
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • APAC
    • China
    • India
    • Japan
  • South America
    • Brazil
  • 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
• Rising adoption of cloud computing services
• Growth in anything-as-a-service technologies

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

• Data privacy and security risk in cloud-based services
• Shortage of skilled IT professionals
• Lack of quality standards in SLAs

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Market Scope in MSP Software Market Research Report

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Research Analysis Overview

In the MSP software market, solutions offer remote access, system administration, and network security for business continuity. They ensure data protection through security audits, penetration testing, incident response, data governance, and compliance audits. Cloud adoption is facilitated with infrastructure optimization, service level reporting, capacity planning, and software upgrades. Hardware procurement, virtual desktop infrastructure, application monitoring, performance tuning, real-time analytics, predictive analytics, and data visualization are also provided. Services include service orchestration, cloud cost management, IT outsourcing, managed security services, software defined networking, software defined storage, serverless computing, edge computing, Internet of Things, big data, data analytics, business intelligence, customer experience, digital workplace, remote collaboration, AI-powered IT operations, proactive monitoring, and self-service portals.

Market Research Overview

The IT software market encompasses businesses specializing in the creation and distribution of application and system software. This sector comprises application software developers, producing solutions for business and consumer needs, such as enterprise, technical, and cloud-based applications. Excluded are companies in the interactive home entertainment industry and those focusing on systems or database management software. According to Technavio, the global IT software market size is determined by the consolidated revenue of all software providers, including those offering cloud services.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/