A managed service is the task handled by a third party, frequently in the context of the business IT services. Managed services are used to cut expenses, enhance service quality, or free up internal teams to work on duties that are unique to the specific company, and it is a means to delegate general chores to a specialist. A managed service provider is a business that offers these services. A managed IT services provider most often manages and assumes responsibility for providing its clients with a defined set of services.
Telecom managed services enable organizations to reduce their costs in business operations, which allows them to concentrate more on essential business exercises and fundamental techniques, reduces dangers related to business operations, and upgrade operational effectiveness and precision.
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Data Bridge Market Research analyzes that the Global Telecom Managed Services Market is expected to reach USD 77,764.80 million by 2031 from USD 25,142.83 million in 2023, growing with a CAGR of 15.6%in the forecast period of 2024 to 2031.
Key Findings of the Study
Increasing Need for Business Agility
Business agility can sustain its maximum potential in terms of profits and employees in a dynamic external and internal environment. It enables organizations to innovate and deliver more effectively, thus turning market disruption into a competitive advantage while thriving in complex environments
Undergoing a cultural change is one of the toughest parts of achieving business agility, as it requires commitment from top leadership.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Million
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Segments Covered
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Type (Managed Data Center Services, Managed Network Services, Managed Communication and Collaboration Services, Managed Security Services, Managed Mobility Services and Others), Managed Information Service (MIS) (Business Process Management, Managed Operational Support Systems/Business Support Systems, Project & Portfolio Management and Others), Deployment Model (On-Premise and Cloud), Organization Size (Large Enterprises and Small & Medium Enterprises (SMES))
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Countries Covered
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U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Russia, Netherlands, Switzerland, Belgium, Turkey, Rest of Europe, China, Japan, India, Australia, South Korea, Indonesia, Philippines, Thailand, Malaysia, Singapore, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, and Rest of Middle East and Africa
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Market Players Covered
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FUJITSU (Japan), DXC Technology Company (U.S.), IBM Corporation (U.S.), Cognizant (U.S.), Wipro Limited (India), Capgemini (Paris), Accenture (Ireland), Tata Consultancy Services Limited (India), HCL Technologies Limited (India), NTT DATA Corporation (Japan), Verizon (U.S.), Cisco Systems, Inc. ( U.S.), ZTE Corporation (China), Huawei Technologies Co., Ltd. (China), Telefonaktiebolaget LM Ericsson (Sweden), AT&T Intellectual Property (U.S.), Nokia Corporation (Finland), Lumen Technologies (U.S.), RACKSPACE TECHNOLOGY, INC. (U.S.), Comarch SA (Poland), Tech Mahindra Limited (India), Infosys Limited (India), GTT Communications, Inc. (U.S.), BT (U.K.), Unisys (U.S.) and among others
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Segment Analysis
The global telecom managed services market is segmented into four notable segments, which are based on type, Managed Information Service (MIS), deployment model, and organization size.
- On the basis of type, the market is segmented into managed data center services, managed network services, managed communication and collaboration services, managed security services, managed mobility services, and others
In 2024, the managed data center services segment is expected to dominate the global telecom managed services market
In 2024, the managed data center services segment is expected to dominate the global telecom managed services market with 34.31% share due to the increasing demand for services for managing data centers across all regions.
- On the basis of Managed Information Service (MIS), the market is segmented into business process management, managed operational support systems/business support systems, project & portfolio management, and others
In 2024, the business process management segment is expected to dominate the global telecom managed services market
In 2024, the business process management segment is expected to dominate the global telecom managed services market with 41.32% market share due the increasing need among businesses to streamline business operations to achieve operational excellence, customer satisfaction, flexibility, and productivity.
- On the basis of deployment model, the market has been segmented into on-premise and cloud. In 2024, the cloud segment is expected to dominate the global telecom managed services market with 69.40% market share
- On the basis of organization size, the market is segmented into large enterprises and Small and Medium Enterprises (SMES). In 2024, the large enterprise segment is expected to dominate the global telecom managed services market with 60.89% market share
Major Players
Data Bridge Market Research analyzes IBM Corporation (U.S.), Accenture (Ireland), Huawei Technologies Co., Ltd. (China), AT&T Intellectual Property (U.S.), Verizon (U.S.) as major market players in global telecom managed services market.
Market Developments
- In March 2021, AT&T Intellectual Property and Fortinet launched Secure Access Service Edge (SASE), a reality for enterprises. The solution unifies software-defined wide-area network (SD-WAN) with essential network security functions of the SASE framework and 24x7 management. With this, the company is expanding its managed security services portfolio
- In June 2020, IBM Corporation and Wipro Limited Collaborated to help clients accelerate their cloud journey. Together, they have Wipro IBM Novus Lounge in Bangalore, a complete suite of solutions leveraging artificial intelligence, cloud, machine learning, and the Internet of Things. This collaboration will help their customers provide secure and scalable hybrid cloud technology and expand their product portfolio
- In July 2019, IBM Corporation announced its complete acquisition of Red Hat, which will significantly change IBM's cloud landscape and accelerate its high-value business model by offering a next-generation hybrid, multi-cloud platform to its customers. This acquisition has strengthened and expanded IBM Corporation's product line
- In April 2019, Accenture was named as a leader in business mortgage processing outsourcing (BPO) by Everest Group based on two dimensions that are vision & capability and market impact. The company ranked as a leader because of its reengineer processes, and workforce strategies, implement new technologies, streamline operations, and others. This has helped the company grow in the market and sustain in the competition
- In July 2020, Capgemini has become partnered with The John Lewis Partnership for providing core operational IT applications and services or supporting the partnership and business processes. The Capgemini will provide services for trading, finance, supply chain and personal systems. This partnership will help company to increase their business and generate revenues
Regional Analysis
Geographically, the countries covered in the global telecom managed services market report are U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Russia, Netherlands, Switzerland, Belgium, Turkey, Rest of Europe, China, Japan, India, Australia, South Korea, Indonesia, Philippines, Thailand, Malaysia, Singapore, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Egypt, Israel, and Rest of Middle East and Africa.
As per Data Bridge Market Research Analysis
North America region is expected to dominant region in the global telecom managed services market
North America is expected to dominate the global telecom managed services market as strong presence of leading telecom managed service providers, such as IBM, Cisco, AT&T and Verizon that offer a wide range of services and capabilities to their customers.
Asia-Pacific region is expected to fastest region in the global telecom managed services market
Asia-Pacific is expected to fastest growing region in global telecom managed services market due to supportive government policy that encourages the development and adoption of telecom managed services, especially in the areas of cloud computing, big data and artificial intelligence.
For more detailed information about the global telecom managed services market report, click here – https://www.databridgemarketresearch.com/reports/global-telecom-managed-services-market
