MANAGED INFRASTRUCTURE SERVICES MARKET

 

Market Overview:

                The market for managed infrastructure services was estimated to be worth USD 80.45 billion in 2020; by 2026, it is anticipated to have grown to USD 143.23 billion, registering a CAGR of 9.95% over the five-year period from 2021 to 2026. New business imperatives are being produced by technological trends including analytics, cloud computing, IoT, and cognitive computing. These digital technologies are being embraced by businesses to create novel business models, enhance operational efficiency, empower employees, and customise the customer experience.

The market is being driven by the growth of cloud-based technology and the proliferation of new technologies. Over the past few years, break-fix and server troubleshooting tasks have been outsourced to reduce staff time spent on IT and to take advantage of IT service providers' knowledge. Infrastructure has been modernised as a result of the increased acceptance of digital transformation with mobility and cloud, and enterprises are now choosing infrastructure managed services in order to keep up with the most recent technical advancements. By 2020, 83% of enterprise workloads are anticipated to be in the cloud, according to LogicMonitor.

Key Market Trends:

         The managed infrastructure services providers (MISP) industry has undergone changes as a result of the introduction of cloud deployment, and they now employ a delivery model for offering technological services over public or private clouds. Businesses are looking for MISPs that have agreements with cloud providers (like Google, AWS, Microsoft, etc.) in order to select the best cloud providers, migrate to the cloud, and manage cloud services after the move. This is because of the benefits that the cloud offers.

A managed cloud infrastructure service was introduced in 2019 by a number of businesses, including HC (Host Color), in response to the rising demand from businesses. Public cloud servers, hybrid clouds, and hosted private clouds all offer managed services. The managed cloud infrastructure includes the installation of an operating system based on Linux or Windows, as well as routine upkeep and software upgrades.

Due to the region's dominance as a source of IT and IT-enabled services in diverse nations like China and India, Asia-Pacific is the region with the highest market growth. IBEF estimates that in 2018, over 55% of the world's service sourcing companies were engaged in the IT and IT-enabled services sector in India.
The first hyper-scale data centre park in India was officially opened by Yotta Infrastructure on September 27, 2019. Most recently, in July 2019, NTT Ltd began offering services in India, moving up to the top 11 ICT service providers in the world. The financial services, pharmaceuticals, telecommunications, energy & utilities, manufacturing, automotive, and technology sectors are just a few of the industries NTT aims to enter.

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