New York, June 01, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “North America Managed Services Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” – https:/ /www .reportlinker.com/p06249304/?utm_source=GNW
94% from 2022 to 2027 (hereafter, the forecast period).
The North American market is growing due to the changing IT infrastructure landscape, especially in small and medium-sized enterprises (SMBs), which are continually focusing on outsourcing cybersecurity solutions. For example, Kpaul Properties LLC, one of the emerging manufacturers and distributors of computer supplies in the United States, integrated FUJITSU to replace a physical server with a virtualized environment. This reduced the company’s costs by approximately 15% and enabled 95% uptime.
According to Solarwinds, in North America, server and storage hardware, endpoint devices, and networking equipment solution offerings dominate in MSPs, especially in the US region. Although managed security offerings may be lacking, most solution providers offer point-of-security products in the form of network and endpoint hardware and software.
Companies in the region are integrating IT solutions tailored to business needs by providing a comprehensive assessment of the IT environment and providing the solutions needed to solve complex business challenges at every stage of the business life cycle . For example, Managed Solution, an American company, has integrated technical skills and the right resources to uncover challenges, diagnose problems, and custom design, deliver, and execute a comprehensive technology roadmap based on needs, making customers more secure, compliant and efficient.
Although managed services offer various benefits, the specific challenges, such as reliability issues, may hamper the market growth over the forecast period. The process of hiring an MSP to host critical business infrastructure involves the belief that the vendors business can sustain the relationship with them. If vendors fail to compete in the marketplace, businesses that rely on them may have to completely replace web hosting, email, calendars, and other critical pieces of infrastructure, without which is not possible to do business.
The outbreak of the COVID-19 pandemic in the United States has increased the number of organizations working remotely. According to ALM Media Properties LLC, approximately 58% or more of American knowledge workers work remotely. This number is up more than 30% from pre-COVID-19 averages and dwarfs previous figures that indicated that about 7% of the 140 million civilian employees in the United States were working from home. For many organizations, this mass exodus from the conventional workplace has been a welcome change in employer expectations and telecommuting policies.
Main market trends
The IT and telecommunications sector is expected to hold a large market share
The IT and telecommunications sector is an important market for managed services due to the high adoption rate of various technologies, increased adoption rate of BYOD policy (to make business operations much more comfortable and controllable) and the increased need for high-end security due to the rapid increase in data between organizations.
The telecommunications industry has witnessed increased growth over the past few years, with telecommunications companies under constant pressure to provide innovative services at lower cost in order to retain their customers in the competitive market. In order to respond to a complex and competitive environment, managed services have become a widespread demand for operators.
Additionally, the majority of telecom operators should replace their network hardware with software (SDN and NFV) because of the compelling economic case they present. The major factors driving the demand for SDN and NFV are improving time to market, reducing CAPEX and OPEX, and opening up new revenue streams from a business perspective. All these factors are expected to drive the growth of the market studied. Such initiatives are driving demand for managed network services.
Many SD-WAN managed service providers in North America differentiate themselves with a wide range of security offerings. For example, Cato Networks offers a cloud-native platform that includes NGFW, Secure Web Gateway, Advanced Threat Prevention, Cloud and Mobile Access Protection, and a managed threat detection and response service. Colt offers a Layer 7 firewall or stateful Layer 3/4 firewall with DDoS protection, and CenturyLink offers a suite of security services called Adaptive Network Security.
Canada is expected to be the fastest growing market
The managed services market in Canada is growing primarily due to new product launches, acquisitions, mergers and partnerships, which are shaping the market landscape across North America. The accelerating growth of technology in Canada continues to reshape the way businesses improve operational efficiency, leverage massive amounts of data, collaborate internally, and interact between businesses and customers.
For example, Starport is a Canada-based managed IT services provider that offers class-leading IT network design, implementation and ongoing monitoring to midsize organizations across Canada; most of its customers are concentrated in the Greater Toronto Area. It provides its services to clients in various industries, including investment banking, manufacturing, and commercial real estate, among others.
Additionally, Canada is experiencing strong growth in the application of multi-cloud environments and increased adoption of automation. In the region, cloud, mobile and social technologies require enterprises to take a proactive approach to IT security, which is driving the demand for deployment of robust managed services that would work across all layers of security management.
The Unified Communications as a Service (UCaaS) and Contact Center as a Service (CCaaS) markets represent a business opportunity for managed service providers. Indeed, emerging players are offering innovative cloud-based solutions that require minimum investment and are easy to deploy. Customers are also leaning toward consumption-based pay-as-you-go models.
The rise of cloud services in the country is expected to increase the demand for the managed MPLS market. For example, the Government of Canada has a “cloud first” strategy, whereby cloud services are identified and evaluated as the primary delivery option when launching technology investments, initiatives, strategies and projects. some information. Cloud computing should also allow the Government of Canada to harness the innovation of private sector vendors to make its information technology more agile.
The managed services market is consolidated, dominated by major players. Some of the major market players are Cisco Systems Inc.?, IBM Corporation, Microsoft Corporation, Fujitsu Ltd and Wipro Ltd.
May 2021: Fujitsu Ltd and Rakuten Mobile Inc. announced the signing of a Memorandum of Understanding (MoU), deepening collaboration on joint efforts to develop Open RAN solutions for the global market. The two companies will collaborate to jointly develop 4G and 5G Open RAN solutions.
November 2021: AT&T added a new offering to manage the Secure Access Service Edge (SASE) wallet. AT&T SASE with Cisco is a converged network management and security system that uses software-defined wide area network (SD-WAN) technology and security capabilities to connect and protect businesses.
February 2022: Verizon Business announced the inclusion of VMware in Verizon’s Managed WAN Service global software-defined wide area network (SD-WAN) managed services portfolio.
The Market Estimate (ME) sheet in Excel format
3 months of analyst support
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