MarketsandMarkets recently published a report titled "Managed Services Market [Managed Data Center, Managed Network, Managed Information, Managed Mobility, Managed Infrastructure, Managed Communications, Managed Security] - Global Advancements, Market Forecasts and Analysis" that estimates managed services will show a compound annual growth rate of 12.4 percent from 2013 to 2018. This means that the $142.75 billion in 2013 will grow to $256.05 billion by 2018.
In recent years there have been new managed services being offered, along with aggressive pricing, which results in an increase in the overall managed services revenue. There is also an increase in the outsourcing of wireless, communications, mobility and other services like content and e-commerce facilities.
The report found using managed services reduce IT costs by 30 to 40 percent in organizations which "enables organizations to have the flexibility and technical advantage with them," MarketsandMarkets wrote.
The demand for managed services is high across every industry vertical but is the highest in the telecommunications and high tech verticals. Following behind is the Banking, Financial Services and Insurance (BFSI) and the public sector. North America is the largest market in terms of revenue, but Europe, Asia Pacific, Latin America and Middle East and Africa are all expected to increase in market traction in the coming years, as well.
While the report is accurate, it doesn't include the increasing number of cloud services management, so the potential for growth could be much higher in reality. And if the rate of growth continues on the same track, the managed service market could surpass $320 billion by 2020.About Stratosphere Networks
Stratosphere Networks is a multifaceted IT managed service provider focused on delivering comprehensive technology services and solutions to meet and exceed the always-changing, diverse business needs for all industries. Stratosphere Networks' team of experts works with you to develop a cohesive technology support plan specifically designed for your business. A fully staffed Network Operations Center provides full maintenance services and support ranging from desktop support, business continuity, disaster recovery, remote and on-site support, proactive network monitoring and ongoing maintenance services. Proactive 24/7/365 IT service, combined with guaranteed on-site response times provides Stratosphere Networks' customers with peace of mind and allows them to achieve their specific business initiatives. Visit www.stratospherenetworks.com for more information.