The global managed services market was valued at over 344 billion U.S. dollars in 2024. Overall, the global managed services market is expected to exceed 500 billion U.S. dollars in 2028. What is managed services? The managed services market is primarily concerned with the outsourcing of certain computing and IT related processes such as cloud computing, IT infrastructure, and managed IT security. The market is dominated by large tech companies such as IBM, Accenture, Cognizant, and Capgemini, who provide managed computing services to client companies of all sizes around the world. What managed services products are popular? As of 2024, the most popular managed services were security and business apps in both Europe and North America. These services provide clients with the benefits of large IT infrastructure without the need for large amounts of in-house hardware. Further, managed services for cloud, container technology, big data, and internet of things (IoT) platforms are expected to hold much potential for managed service providers in the future. This is because these technologies are increasingly adopted and deployed by organizations around the world to benefit their overall digital transformation strategy.

The statistic shows the market share of the leading IT professional service and managed service providers worldwide in 2017, based on revenue. IBM held six percent of the global IT professional and managed services market in 2017.

The Report Covers Global Managed Service Provider Industry Share & Growth and the Market is Segmented by Deployment (On-Premise and Cloud), Type (Managed Data Center, Managed Security, Managed Communications, Managed Network, Managed Infrastructure, and Managed Mobility), Enterprise Size (Small and Medium Enterprise and Large Enterprise), End-User Vertical (BFSI, IT and Telecommunication, Healthcare, Entertainment and Media, Retail, Manufacturing, Government, Other End-User Verticals), and Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa). The Market Sizes and Forecasts are Provided in Terms of Value (USD Billion) for all the Above Segments.

The United States Managed Services Market Analysis Report is Segmented by Deployment Type (On-Premise and Cloud), Type (Managed Data Center, Managed Security, Managed Communications, Managed Network, Managed Infrastructure, and Managed Mobility), Enterprise Size (Small and Medium Enterprises and Large Enterprises), and End-User Vertical (BFSI, IT and Telecom, Healthcare, Entertainment and Media, Retail, Manufacturing, Government, and Other End-User Verticals). The US Managed Services Industry Trends, Size, Market Statistics and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

The managed security services market was valued at over 31 billion U.S. dollars in 2021. The managed security services market can be segmented into different deployment types, such as on-premise and cloud, managed security service provider, as well as end-user vertical. Generally, managed security service providers (MSSPs) provide managed security services (MSS) to manage their customers' information technology (IT) infrastructure.

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IoT Managed Services Market Size 2025-2029

The IoT managed services market size is forecast to increase by USD 538.5 billion, at a CAGR of 33.1% between 2024 and 2029.

The market is witnessing significant growth due to the increasing adoption of IoT solutions across various industries. Industrial automation, network security, data security, and asset management are some sectors driving the demand for IoT managed services. Predictive maintenance is a key trend in this market, as organizations seek to leverage data from IoT devices for proactive maintenance and reducing downtime. Wearable technology, robotics, remote patient monitoring, and 5G technology are also contributing to the growth of the market. Additionally, the use of artificial intelligence, data analytics, and big data is becoming increasingly important for businesses to gain insights from their IoT data. However, there are challenges, such as the lack of awareness of efficient management of IoT initiatives and investments, that need to be addressed to fully realize the potential of IoT managed services. Overall, the market is expected to continue growing as businesses seek to optimize their operations and improve efficiency through IoT solutions.

What will be the Size of the IoT Managed Services Market During the Forecast Period?

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The market is experiencing significant growth as more industries adopt multi-cloud applications and integrate sensors and processors into their operations. Industrial manufacturing organizations are increasingly leveraging IoT-managed services to optimize their digital-human workforce, enhance manufacturing applications, and improve asset management. Artificial intelligence and remote monitoring are key components of these services, enabling predictive maintenance, energy consumption optimization, and data analytics. Legacy systems are being upgraded to support IoT network connectivity, while 5G technology facilitates faster data transfer and lower latency.
The market encompasses various applications, including remote patient monitoring in digital health solutions, network monitoring for data protection control, and smart urban initiatives for mobile devices. Cloud-based services, corporate IoT specialists, and IoT solutions providers continue to innovate, offering advanced capabilities such as data analytics, artificial intelligence, and real-time data processing. The market's size and direction reflect the increasing importance of IoT in various sectors, from energy consumption management to industrial automation.

How is this IoT Managed Services Industry segmented and which is the largest segment?

The IoT managed services industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Network management services
  Security management services
  Infrastructure management services
  Data management services
  Device management services


Deployment

  On-premises
  Cloud


Sector

  SMEs
  Large enterprises


End-user

  Healthcare
  Manufacturing
  BFSI
  Retail
  Others


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK
    France
    Italy


  APAC

    China
    India
    Japan
    South Korea


  Middle East and Africa



  South America

By Type Insights

The network management services segment is estimated to witness significant growth during the forecast period.

The market is experiencing steady growth, driven by the increasing adoption of multi-cloud applications, sensors, processors, and digital-human workforces in various industries. Industrial manufacturing organizations are leveraging IoT for asset management, remote monitoring, and the implementation of digital factories. Artificial Intelligence (AI) and blockchain technologies are also gaining traction in the industrial IoT sector for data protection and cryptographic processes. The market encompasses services for energy and utilities, manufacturing, healthcare, IT & telecom, and more. Key players offer network management, device management, data management, and security management services.

Further, cloud-based services, data analytics, and 5G technology are integral to IoT solutions. The market is witnessing the entry of new players, including corporate IoT specialists, offering customized services for industries such as automotive and transportation, smart cities, and infrastructure services. IoT ecosystem players are focusing on providing solutions for energy consumption, digital India initiative, remote patient monitoring, and digital health solutions. The market is expected to continue its growth trajectory, fueled by the increasing adoption of IoT products and services.

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Managed Services Market size was valued at USD 302.00 Billion in 2024 and is projected to reach USD 593.63 Billion by 2031, at a CAGR of 10.14% from 2024 to 2031.

Global Managed Services Market Overview

The increasing complexity of IT environments has become a significant driver fueling the growth of the global managed services market, particularly as organizations across various industries adopt a wide range of technologies to support their operations. According to industry statistics, the average number of technology solutions used by organizations has been steadily increasing over the years. Furthermore, the rising cybersecurity threats pose a significant challenge to organizations worldwide, driving a heightened focus on investments in cybersecurity measures. Industry statistics underscore the severity of this challenge, with cyberattacks becoming increasingly frequent and sophisticated.

The U.S. managed services market size was valued at USD 69.9 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 171.7 Billion by 2033, exhibiting a CAGR of 10.5% from 2025-2033. The market is primarily driven by the considerable rise in the number of remote workers requiring secure IT infrastructure, the growing adoption of AI for efficiency and cybersecurity, and the increasing utilization of industry-specific services tailored to meet challenges in various end-use sectors such as retail, healthcare, and logistics.

IMARC Group provides an analysis of the key trends in each segment of the U.S. managed services market, along with forecasts at the country and regional levels from 2025-2033. The market has been categorized based on type, deployment mode, enterprise size, and end use.

Global Managed Data Center Market is segmented by Type (Managed Storage, Managed Hosting, Managed Colocation), Deployment Type (Cloud, On-premise), End-user Industry (BFSI, Energy, Healthcare, Manufacturing, Retail, Other End-user Industries), and Geography (North America (United States, Canada), Europe (Germany, UK, France, Spain, and Rest of Europe), Asia Pacific (India, China, Japan, and Rest of Asia-Pacific), and Latin America (Brazil, Argentina, and Rest of Latin America), and Middle East & Africa (UAE, Saudi Arabia, South Africa, and Rest of MEA). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

The Managed Data Center Services Market is projected to grow at 17.4% CAGR, reaching $893.98 Billion by 2029. Where is the industry heading next? Get the sample report now!

Access the summary of the Cloud Managed Services market report, featuring key insights, executive summary, market size, CAGR, growth rate, and future outlook.

As per Cognitive Market Research's latest published report, The Southeast Asia IT Managed Services Market size was $9,908.40 Million in 2016 and it is forecasted to reach $37,415.53 Million by 2030. What are the factors affecting IT Managed Services Market Growth?

Increased Digitalization in Southeast Asian Countries

The increasing use of communication infrastructures in countries of Southeast Asia and the increased facilitates and new services, products and applications has led to an increased demand for the IT managed services, across the world.

The IT-managed services, has the benefit of offering several opportunities for enhanced growth, productivity of several services and industries. The digital transformation is expected to support several industries, and helps in improving the governance, it also improves the quality and coverage of public services, and expand creation of content.

The IT managed services, also enable the small medium enterprises, to benefit from access to global markets and enable consumers to benefit from a greater diversity and choice of products and lower prices. These factors, contributes for the growth of the IT-managed services market in Southeast Asia.

Southeast Asia is one of the dynamic economic regions of the world, with an average growth of 5.1% per year from 2011 to 2015. The countries of the Association of Southeast Asian Nations (ASEAN) have identified the fostering opportunities for small and medium-sized enterprises (SMEs) as a key policy objective, and have expressed further a sense of urgency to achieve digital inclusion across the region.

Countries in SEA are at different stages of economic development, but all are experiencing rapid changes in their digital economies. The increased digitalization, has led to an increased adoption of the IT managed services, which contributes for the growth of the market.

Restrains of the Southeast Asia IT Managed Services Market

Lack of IT skilled professionals and High Costs of services.(Access Detailed Analysis in the Full Report Version)

Opportunities of the Southeast Asia IT Managed Services Market

Growth in Southeast Asia Market.(Access Detailed Analysis in the Full Report Version)

Definition of IT Managed Services

IT managed services involves management of IT solutions and outsourcing it to clients that optimizes and transform business of any organization with adoption of modern technologies. The IT manages services includes networks and servers, software and technology infrastructures, data backup systems, and overall network security and risk management. The services include Network testing and monitoring. Overseeing network security & risk mitigation, Connectivity and bandwidth, providing data storage, managing installations and upgrades, Suggesting and implementing software patches, providing web hosting, Network provisioning or virtualization, Performance monitoring and reporting, providing help desk technical support.

The IT managed services used to optimize operation reduce expenditure cost, expertise in business operations, reduced risk, accurate pricing management, high-security in the operation. Many large and medium scale enterprises use IT managed services. The modern technologies and skills of organization assists I in optimizing their business operation through security, IT maintenance services in the market that helps in increasing efficiency of business process.

There is higher demand for IT managed services in the South East Asia region due to increased adoption of cloud computing, AI, IoT adoption in the IT managed services to further bring optimization in the business process. The South East Asia Multinational organizations such as Google, Amazon, Microsoft and Equinix have preferred relocating data centers within Southeast Asia. The demand for cloud-based services, IoT big data analytics increased construction of data centers within South East Asia regions. These regions have data center relocation contains IT infrastructure, server market and uninterruptible power supplies.

This increasing adoption and presence of data center for IT manages services across globe increased its demand and boost growth of IT manages services in the market.

With the growing digitalization, organization face many challenges in growth of bus...

The statistic shows a forecast for the public cloud management and security services market from 2015 to 2023. In 2023, the public cloud management and security market was expected to be worth 42.4 billion U.S. dollars.

According to Cognitive Market Research, the global managed service provider market size will be USD 301514.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 14.20% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 120605.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 90454.26 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 69348.27 million in 2024 and will grow at a compound annual growth rate (CAGR) of 16.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 15075.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.6% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 6030.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.9% from 2024 to 2031.
The managed IT infrastructure & data center typically holds the largest market share of the managed service providers industry.

Market Dynamics of Managed Service Provider Market

Key Drivers for Managed Service Provider Market

Growing Need for Cybersecurity and Data Protection Drives Market Growth

The increasing demand for cybersecurity and data protection is driving significant market growth, mainly in the application of managed service providers (MSPs). As businesses rely more on digital infrastructure, they face increased risks from cyberattacks, data breaches, and regulatory compliance challenges. Managed service providers offer specialized cybersecurity services such as threat detection, incident response, and data protection solutions, allowing businesses to manage their security demands better. This outsourcing enables businesses to focus on core operations while maintaining comprehensive security. Furthermore, managed service providers' capacity to expand services and provide continuous surveillance makes them an appealing alternative for organizations of all sizes in a changing threat circumstance. For instance, Produce8, a leading work analytics software vendor, launched its new MSP Partner Program in June 2024 to enable MSPs to provide clients with Produce8’s advanced work analytics tools. This initiative aimed to enhance productivity, optimize operations, and improve employee experiences through detailed insights and analytics for data-driven decision-making.

Increasing Adoption of IoT and Big Data Analytics Fuels Market Growth

The managed service provider (MSP) market is expanding significantly due to the growing adoption of IoT and big data analytics. As companies connect IoT devices, the volume of data generated increases, and advanced analytics tools are required to extract relevant insights. Managed service providers offer full data management services, including seamless connectivity, security, and real-time monitoring. Furthermore, considering the complicated nature of big data analytics, many businesses rely on managed service providers to handle infrastructure, maintenance, and optimization. Managed service providers assist organizations in scaling operations, decreasing expenses, and improving decision-making by utilizing cloud-based solutions, which fuels market growth in a wide range of industries.

Restraint Factor for the Managed Service Provider Market

Dependence on Third-Party Providers For Certain Services Hampers Market Growth

Managed service providers (MSPs) might find it challenging to extend their offerings if they depend on outside service providers offering certain services. Relying on third-party vendors for critical components such as cloud infrastructure, software solutions, or cybersecurity technologies can pose concerns such as vendor lock-in, service disruptions, and restricted flexibility. Managed service providers may struggle to differentiate their services or maintain competitive pricing due to the costs associated with third-party dependence. Furthermore, third-party suppliers may have different objectives or service level agreements, resulting in delays or quality issues that can harm managed service providers' customer relationships. These obstacles li...

The size and share of the market is categorized based on Type (Managed Security Services, Managed Network Services, Managed Communication and Collaboration Services, Managed IT Infrastructure, Managed Mobility Services, Managed Information Services, Others) and Application (Industry, Finance, Telecommunications, Education, Others) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

India cloud managed services market size is projected to exhibit a growth rate (CAGR) of 13.78% during ​2025-2033​. The increasing demand for cloud managed solutions, which facilitate remote access, collaboration, and data sharing, supporting the evolving nature of work, is driving the market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for ​2025-2033​. Our report has categorized the market based on service type, deployment model, organization size, and vertical.

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Cloud Managed Services Market Size 2024-2028

The cloud managed services market size is forecast to increase by USD 41.5 billion at a CAGR of 8.5% between 2023 and 2028.

The market is experiencing significant growth, driven by the increasing adoption of cloud computing services and the Bring Your Own Device (BYOD) policy in organizations. Cloud managed services enable businesses to outsource the management of their cloud infrastructure and applications to third-party providers. This trend is particularly prominent in healthcare, finance, and education industries, where data security is paramount. However, the increasing use of cloud-based services also presents challenges, including data privacy and security risks. Organizations are investing in advanced security solutions and implementing stringent data protection policies to mitigate these risks. Additionally, the market is expected to be influenced by the growing trend of automation and artificial intelligence in cloud managed services, which will help streamline operations and improve efficiency. Overall, the market for cloud managed services is poised for strong growth in the coming years, driven by the need for cost savings, increased agility, and improved security.

What will be the Size of the Cloud Managed Services Market During the Forecast Period?

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The market encompasses a range of offerings from Managed Service Providers (MSPs) that enable Small and Medium Enterprises (SMEs) and large Enterprises to outsource the management of their IT infrastructure, applications, and core business functions. Cloud-based apps, including Voice over IP (VoIP) and Unified Communications as a Service (UCaaS), are driving market growth as businesses seek scalability, reliability, and cost savings through Capital Expenditure (Capex) reduction. The market is further driven by the increasing adoption of 5G and mobility, enabling more businesses to adopt cloud-managed services for network and security operations. Cloud platforms offer managed IT services for business process automation, storage, and managed service operations, including managed network and security operations.
Security services and network services are critical components of the market, as businesses prioritize IT cost reduction while mitigating company lock-in and ensuring data security. The market's direction is towards integrated, end-to-end solutions that provide comprehensive IT services, enabling businesses to focus on their core competencies. The adoption of virtualization technology and container management is driving innovation in edge computing, enabling efficient workload migration while ensuring strong cybersecurity protocols and network automation. With data sovereignty becoming a priority, businesses are aligning with compliance frameworks, utilizing multi-tenant architecture, serverless computing, and API integration to enhance scalability and security in their operations.

How is this Cloud Managed Services Industry segmented and which is the largest segment?

The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

End-user

  Large enterprise
  Small and medium enterprise


Geography

  North America

    US


  Europe

    Germany
    UK


  APAC

    China
    Japan


  South America



  Middle East and Africa

By End-user Insights

The large enterprise segment is estimated to witness significant growth during the forecast period. The market is experiencing significant growth, driven primarily by large enterprises due to their substantial revenue contribution. However, the adoption of cloud managed services by these enterprises is projected to decrease during the forecast period. Despite the digital transformation trend, large enterprises remain cautious about outsourcing cloud managed services due to concerns over security and control. Instead, they are opting for in-house security solutions to maintain greater control. Key areas of cloud managed services include IT infrastructure management, cloud computing solutions, multi-cloud environments, managed cloud hosting, cloud security services, cloud data management, cloud migration services, cloud network management, hybrid cloud solutions, cloud monitoring tools, cloud disaster recovery, cloud performance optimization, managed cloud security, cloud governance, cloud automation services, cloud compliance solutions, enterprise cloud solutions, cloud-based IT management, outsourced IT management, and cloud storage management. Despite the challenges, the market is expected to continue growing due to the benefits of cost savings, scalability, reliability, and improved IT efficiency.

Get a glance at the market report of share of various segm

Market Overview:

United States managed print services market size reached US$ 9.9 Billion in ​2023​. Looking forward, IMARC Group expects the market to reach US$ 30.3 Billion by ​2032​, exhibiting a growth rate (CAGR) of 13.20% during 2024-2032. The rising focus of key players on cost optimization, technological advancements, and enhanced data security solutions are primarily driving the market growth across the country.

Managed print services (MPS) are tailored and integrated solutions designed to streamline an organization's printing infrastructure. Delivered by external service providers, these services aim to optimize and oversee the entire document output of enterprises. Managed print services implementation can occur on-premises, in the cloud, or in hybrid environments. The process includes evaluating, selectively or comprehensively replacing hardware and service components, and monitoring various devices, such as printers, fax machines, scanners, copiers, and multipurpose printing (MFP) equipment. They also take a proactive approach by analyzing organizational operations, offering improved visibility and control over input and output. This proactive stance assists in cost reduction, preventing device downtime, and optimizing the utilization of resources such as ink, paper, and energy.

United States Managed Print Services Market Trends:

The United States managed print services market is experiencing significant shifts driven by key drivers and notable trends that underscore the industry's commitment to efficiency and sustainability. A primary factor is the increasing focus on cost optimization and resource efficiency. With organizations seeking to streamline their printing infrastructure, MPS providers in the country are witnessing heightened demand for solutions that can enhance productivity while minimizing costs. Additionally, technological advancements play a pivotal role in shaping the United States managed print services market, with innovations, such as cloud based MPS gaining prominence. Moreover, there is a growing emphasis on data security within MPS solutions. As cyber threats become more sophisticated, organizations are prioritizing managed print services providers that offer robust security measures to safeguard sensitive information, aligning with stringent compliance requirements. Additionally, sustainability is emerging as a prominent trend, with businesses recognizing the environmental impact of printing operations. Besides this, the key players are responding by incorporating eco-friendly practices, promoting paperless solutions, and optimizing energy consumption in alignment with corporate sustainability goals. These drivers and trends reflect a holistic approach, ensuring that these solutions not only enhance operational efficiency but also align with the broader objectives of organizations in the modern business landscape, which is expected to fuel the market growth over the forecasted period.

United States Managed Print Services Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on type, deployment mode, organization size, and industry vertical.

Type Insights:

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• Print Management
• Device Management
• Discovery and Design
• Document Imaging
  

The report has provided a detailed breakup and analysis of the market based on the type. This includes print management, device management, discovery and design, and document imaging.

Deployment Mode Insights:

• On-premises
• Cloud-based
  

A detailed breakup and analysis of the market based on the deployment mode have also been provided in the report. This includes on-premises and cloud-based.

Organization Size Insights:

• Large Enterprises
• Medium Enterprises
• Small Enterprises
  

The report has provided a detailed breakup and analysis of the market based on the organization size. This includes large enterprises, medium enterprises, and small enterprises.

Industry Vertical Insights:

• BFSI
• Government
• Healthcare and Education
• Manufacturing
• Retail and Consumer Goods
• IT and Telecom
• Others
  

A detailed breakup and analysis of the market based on the industry vertical have also been provided in the report. This includes BFSI, government, healthcare and education, manufacturing, retail and consumer goods, IT and telecom, and others.

Regional Insights:

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• Northeast
• Midwest
• South
• West
  

The report has also provided a comprehensive analysis of all the major regional markets, which include the Northeast, Midwest, South, and West.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided

United States Managed Print Services Market Report Coverage:

Managed Services Software Market size was valued at USD 50 Billion in 2023 and is projected to reach USD 123.80 Billion by 2031, growing at a CAGR of 12% during the forecast period 2024-2031.

Managed Services Software Market: Definition/ Overview

Managed Services Software is a comprehensive suite of tools designed to streamline and automate the operations of Managed Service Providers (MSPs). It provides a centralized platform for managing clients’ IT infrastructure, allowing MSPs to deliver and monitor services efficiently.

MSP software typically includes features such as remote monitoring and management (RMM), help desk ticketing, asset management, network management, and security monitoring.

The Indonesia Managed Services Market Report is Segmented by Service Type (Managed Security Service, Managed Network Service, and Managed IT Infrastructure and Data Center Service), by Deployment Type (On-Premise and Cloud), and by Region (Java, Sumatra, Kalimantan, and Other Regions). The Market Sizes and Forecasts are Provided in Terms of Value in USD for all the Above Segments.