The Europe Managed Services Market would witness market growth of 7.0% CAGR during the forecast period (2021-2027).
Basic managed services have become commoditized, forcing managed service providers to distinguish their products. Managed security services are one common direction. Consumers are gradually asking their service providers for help with IT security. As a result, service providers are establishing managed security services practices or forming partnerships with security vendors to deliver cyber security services.
Managed IT services have developed to incorporate cloud services as a result of the introduction of cloud computing. For instance, service providers could specialize in infrastructure as a service (IaaS), offering managed public cloud services in collaboration with cloud providers like Google, Amazon Web Services (AWS), and Microsoft. Service providers may also promote managed platform as a service (PaaS) services or collaborate with software as a service (SaaS) companies like Salesforce in the CRM industry and Service in the service management market.
Clients who opt for a managed service benefit from higher performance and reduced downtime. Mission-critical applications may comprise numerous technologies, all of which must be fully functioning and integrated to provide the IT service that is anticipated. For the IT service to perform well for internal end-users, all component applications must be accessible together. A managed service provider (MSP) can guarantee optimum minimal service interruptions & uptime.
The European market is expanding due to the increased adoption of the cloud platform and increased demand for business data management. The region's major market participants are pursuing a variety of strategies. Deloitte, for example, announced Managed Threat and Managed Digital Identity Services in February 2017, intending to improve the digital transformation and cyber security posture of organizational assets in the region. Spending on cloud computing and information technology in Europe is aimed at digitalization in various countries. The adoption of a hybrid cloud is critical in the transition of industries to digitalization. Cloud infrastructure is continually being used to develop and implement new, cutting-edge projects and methods. To equip businesses with multichannel cloud strategies and match the continuously expanding digital environment, key firms in the region are actively investing in research & development operations.
The Germany market dominated the Europe Managed Services Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $24,059.8 million by 2027. The UK market is poised to grow at a CAGR of 6.1% during (2021 - 2027). Additionally, The France market would experience a CAGR of 7.8% during (2021 - 2027).
Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises (SMEs). Based on Vertical, the market is segmented into BFSI, IT & Telecom, Healthcare, Retail & eCommerce, Government & Defense, Media & Entertainment, Manufacturing and Others. Based on Deployment Type, the market is segmented into On-premise and Hosted. Based on Type, the market is segmented into Managed Data Center & IT Infrastructure, Managed Network & Communication Services, Managed Mobility Services, Managed Information Services, Managed Security Services, and Others. Based on Managed Information Service Type, the market is segmented into Business Process Outsourcing (BPO), Business Support Systems, Project & Portfolio Management and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Managed Services Market Size will Hit $372.8 Billion by 2027, at a CAGR of 7.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Atos Group, Accenture PLC, Fujitsu Limited, Cisco Systems, Inc., DXC Technology Company, Tata Consultancy Services Ltd., Rackspace Technology, Inc., AT&T, Inc., and Verizon Communications, Inc.
By Enterprise Size
By Vertical
By Deployment Type
By Type
By Country
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