Managed Services Market Will Rise As Growing Need To Reduce Downtime Of Systems
The global managed services market size is expected to reach USD 376.13 billion by 2025, according to a new study conducted by Grand View Research, Inc. It is anticipated to expand at a CAGR of 11.7% during the forecast period. Growing dependence of enterprises on IT assets for driving their business productivity coupled with the need for specialized Managed Service Providers (MSPs) and cloud-based managed services is expected to drive the growth. Growing need to reduce downtime of systems is expected to further fuel the market growth. The MSPs provide migration assistance to organizations moving their services from private to public cloud. They also offer differentiated cloud managed services which help enterprises in their decision-making processes. Implementation of these services considerably reduces the IT operational costs and helps improve organizational flexibility and efficiency. Increasing IT expenditure across the globe is anticipated to create growth opportunities