The IT management as a service market size is expected to reach US$ 37.68 billion by 2031 from US$ 11.13 billion in 2023. The market is estimated to record a CAGR of 16.5% from 2023 to 2031. The rising demand for cloud computing is likely to remain a key market trend.
IT Management as a Service Market Analysis
The IT management as a service market is predicted to grow during the forecast period due to the growing trend of working remotely. This has spurred the need to set up new IT infrastructure among organizations. In addition, with the growing software advancements, increasing integration of cloud infrastructure, and growing adoption of automation technology, the complexity of organizations' IT infrastructure is increasing. As having an in-house IT team can be very expensive for organizations, they are moving to ITMaaS service providers to cater to this infrastructure complexity problem. Furthermore, the growing adoption of ITMaaS services in the healthcare industry to carry out IT operations is expected to create an opportunity for the growth of the IT management as a service market during the forecast period. Moreover, the rising digitization in SMEs is expected to propel the growth of the market.
IT Management as a Service Market Overview
IT management as a service (ITMaaS) is a comprehensive suite of managed services that enables skilled IT professionals to manage all aspects of a company's IT infrastructure, including servers, networks, security, applications, and data. ITMaaS services help businesses decrease IT expenses by preventing outages, eliminating disruptions, and improving security. It also helps companies to improve end-user experience and optimize IT resources by giving them access to state-of-the-art technology, skilled IT specialists, and clear contract formats. Furthermore, ITMaaS helps shift IT duties from the organization's IT team to an outside service provider, reducing the intangibles of hiring and maintaining internal IT workers.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
IT Management as a Service Market: Strategic Insights
IT Management as a Service Market
-
CAGR (2023 - 2031)
16.5%
-
Market Size 2023
US$ 11.13 Billion
-
Market Size 2031
US$ 37.68 Billion
Market Dynamics
GROWTH DRIVERS
- Rising Demand for Remote Work Culture, Increasing Complexity of IT Infrastructure
FUTURE TRENDS
- Rising Demand for Cloud Computing
OPPORTUNITIES
- Rising Adoption of ITMaaS in the Healthcare Industry
- Growing Digitization in SMEs
Key Players
- Cisco Systems Inc
- Cognizant Technology Solutions Corp
- Wipro Ltd
- Amazon Web Services Inc
- International Business Machines Corp
- Fujitsu Ltd
- Persistent Systems Ltd
- BMC Software, Inc.
- HCL Technologies Ltd
- Hewlett Packard Enterprise Co
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Application
- System and Network Monitoring
- Compliance and Security Management
- Asset Management
- Infrastructure Performance Management
- Configuration and Change Management
- Others
Enterprise Size
- Large Enterprises
- SMEs
End User
- IT and Telecom
- BFSI
- Healthcare and Lifesciences
- Manufacturing
- Higher Education
- Retail
- Energy and Utilities
- Non Profit
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
IT Management as a Service Market: Strategic Insights
-
CAGR (2023 - 2031)16.5% -
Market Size 2023
US$ 11.13 Billion -
Market Size 2031
US$ 37.68 Billion
Market Dynamics
- Rising Demand for Remote Work Culture, Increasing Complexity of IT Infrastructure
- Rising Demand for Cloud Computing
- Rising Adoption of ITMaaS in the Healthcare Industry
- Growing Digitization in SMEs
Key Players
- Cisco Systems Inc
- Cognizant Technology Solutions Corp
- Wipro Ltd
- Amazon Web Services Inc
- International Business Machines Corp
- Fujitsu Ltd
- Persistent Systems Ltd
- BMC Software, Inc.
- HCL Technologies Ltd
- Hewlett Packard Enterprise Co
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Application - System and Network Monitoring
- Compliance and Security Management
- Asset Management
- Infrastructure Performance Management
- Configuration and Change Management
- Others
Enterprise Size - Large Enterprises
- SMEs
End User - IT and Telecom
- BFSI
- Healthcare and Lifesciences
- Manufacturing
- Higher Education
- Retail
- Energy and Utilities
- Non Profit
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
IT Management as a Service Market Drivers and Opportunities
Rising Demand for Remote Work Culture to Favor Market
Remote work is becoming the new normal for many organizations and has become a phenomenon in recent years, especially after the COVID-19 pandemic. According to Gallup, Inc. report of June 2022, remote work is continuously perceived as positive, with almost 65% of full-time employees ready to work remotely. Working remotely helps employees reduce their traveling and maintain a work-life balance. A study conducted by the National Bureau of Economic Research in January 2023 showed that remote work saved an average of 72 minutes spent by employees on their daily travel to and from their on-site jobs during 2021–2022. Due to all these factors, the demand for remote work is increasing among the employees. To maintain flexibility in working conditions, organizations are working on implementing a remote working model. However, this growing adoption of the remote working model fuels the need to set up new IT infrastructure among organizations. To cater to these needs, various organizations are moving to ITMaaS, as they help organizations manage all their IT operations at low cost, increasing their demand globally. ITMaaS service providers can help organizations take care of sourcing, deployment, and management of routine IT infrastructure. Thus, the rising demand for remote work culture propels the IT management as a service market growth.
Rising Adoption of ITMaaS in Healthcare Industry
IT for healthcare is more complicated than ever. Many healthcare executives wish to give digital transformation top priority; however, it is becoming more and more expensive to hire technical staff to manage hundreds of systems. Because of this, healthcare firms are adopting IT management as a service (ITMaaS), as these service providers can help companies handle their IT operations. These service providers can assist healthcare firms with IT operations, email, help desk, data security, and cloud hosting. Additionally, they can manage continuous IT services, which facilitate innovation, expansion, and transformation. Hence, the rising adoption of ITMaaS among healthcare organizations is expected to create an opportunity for the growth of the IT management as a service market during the forecast period.
IT Management as a Service Market Report Segmentation Analysis
Key segments that contributed to the derivation of the IT management as a service market analysis are application, enterprise size, and end user.
- Based on application, the IT management as a service market is categorized into system and network monitoring, compliance and security management, asset management, infrastructure performance management, configuration and change management, and others. The system and network monitoring segment held the largest market share in 2023.
- In terms of enterprise size, the market is categorized into SMEs and large enterprises. The large enterprises segment dominated the market in 2023.
- In terms of end user, the IT management as a service market is segmented into IT and telecom, BFSI, healthcare & lifesciences, manufacturing, higher education, retail, energy, and utilities, non-profit, and others. The IT and telecom segment dominated the market in 2023.
IT Management as a Service Market Share Analysis by Geography
- The IT management as a service market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. North America dominated the market in 2023, followed by Europe and APAC.
- North America is witnessing tremendous growth in the IT management as a service market, owing to the presence of various market players who are continuously working on the advancement of IT management as a service. In January 2024, Hitachi Vantara, along with Cisco, introduced an innovative suite of hybrid cloud services specifically designed to address ongoing data management challenges faced by various enterprises. This new Hitachi EverFlex with Cisco Powered Hybrid Cloud integrates automation solutions and predictive analytics to provide organizations with advanced infrastructure management, operational effectiveness, and cost efficiency. Thus, product innovations by the market players in the region are fueling the growth of IT management as a service market in the region.
IT Management as a Service Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 11.13 Billion |
| Market Size by 2031 | US$ 37.68 Billion |
| Global CAGR (2023 - 2031) | 16.5% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Application
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
IT Management as a Service Market News and Recent Developments
The IT management as a service market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the IT management as a service market are listed below:
- IBM Consulting and Microsoft announced the opening of the IBM-Microsoft Experience Zone in Bangalore, India – a first of its kind for the collaboration. The Experience Zone provides a dedicated space for clients to explore how generative AI, hybrid cloud, and other Microsoft products and technologies can accelerate their business transformation journeys and help them gain a strategic advantage.
(Source: IBM, Press Release, April 2024)
- Fujitsu launched a Cyber Security Services division, taking expertise from acquisitions and investments across the region and funneling it into one team led by Stuart Kilduff.
(Source: Fujitsu, Press Release, April 2024)
IT Management as a Service Market Report Coverage and Deliverables
The "IT Management as a Service Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering the areas mentioned below:
- IT management as a service market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- IT management as a service market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- IT management as a service market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the IT management as a service market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Rising demand for cloud computing is anticipated to play a significant role in the global IT management as a service market in the coming years.
The incremental growth expected to be recorded for the global IT management as a service market during the forecast period is US$ 26,550.24 billion.
Rising demand for remote work culture and increasing complexity of IT infrastructure are the major factors that propel the IT management as a service market.
The key players holding majority shares in the global IT management as a service market are IBM Corp, Fujitsu Ltd, Amazon Web Services Inc, Cisco Systems Inc, and Cognizant Technology Solutions Corp
The global IT management as a service market was estimated to be US$ 1.28 billion in 2023 and is expected to grow at a CAGR of 10.2% during the forecast period 2024 - 2031.
The global IT management as a service market is expected to reach US$ 37.68 billion by 2031.
The List of Companies - IT Management as a service Market
- Cisco Systems Inc
- Cognizant Technology Solutions Corp
- Wipro Ltd
- Amazon Web Services Inc
- International Business Machines Corp
- Fujitsu Ltd
- Persistent Systems Ltd
- BMC Software, Inc.
- HCL Technologies Ltd
- Hewlett Packard Enterprise Co
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to IT Management as a Service Market
May 2024
Engineering Professional Services Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Consulting, Non-Consulting), Service Type (Designing and Construction, ESG, Program Management, Others), Sector (Private, Public), Vertical (Advanced Manufacturing, Infrastructure, Energy and Utilities, Environmental, Transportation, Others), Advanced Manufacturing (Data Center, Life Sciences, Electronics, and Semiconductor, EV and EV Battery, Others), Infrastructure (Buildings and Cities, Health Infrastructure, Telecommunication Infrastructure, Others), Energy And Utilities (Renewables, Energy Storage, Transmission and Distribution), Transportation (Aviation, Highways and Bridges, Ports and Maritime, Rail and Transit), Water (Water, Wastewater), and Geography (Americas, Europe, Asia Pacific and Middle East and Africa)
May 2024
Virtual Reality Puzzle Games Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Age (18 to 34 Years, Above 35 Years, 13 to 17 Years, and Upto 12 Years), Player Type (Single Player and Multi Player), and End Users (Individuals and Professionals)
May 2024
AI Data Management Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Offering (Solution and Service), Deployment (On-premise and Cloud), Technology [Machine Learning, Natural Language Processing (NLP), Computer Vision, and Context Awareness Computing], and Industry Vertical (BFSI, Retail & E-commerce, IT & Telecom, Healthcare, Government & Utilities, and Others), and Geography
May 2024
Mobile Threat Defense Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Operating System (Android and iOS), Enterprise Size (Large Enterprises and SMEs), and End-User (IT and Telecomm, BFSI, Manufacturing, Retail and E-commerce, Government, and Others)
May 2024
Spend Analytics for Electronics and Semiconductor Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis By Component (Software and Service), Type (Descriptive Analytics, Predictive Analytics, and Prescriptive Analytics), Deployment (On-premise and Cloud), and Application (Financial Management, Risk Management, Governance and Compliance Management, Supplier Sourcing and Performance Management, Demand and Supply Forecasting, and Others)
May 2024
Photonic Design Automation Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Solution and Service), Deployment (On-Premise and Cloud), Organization Size (SMEs and Large Enterprises), and Application (Academic Research and Industrial Research & Manufacturing)
May 2024
Voice-based Payments Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Hardware and Software), By Enterprise Size (Large Enterprises and Small and Medium-Sized Enterprises), By Industry (BFSI, Automotive, Healthcare, Retail, Government, and Others), and by Geography
May 2024
3D Reconstruction Technology Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Active 3D reconstruction and Passive 3D reconstruction), Component (Software and Services), Deployment (On-Premises and Cloud), Enterprise Size (Large Enterprises and SMEs), and End-Use Industry (Automotive, Education, Aerospace & Defense, Healthcare, Media & Entertainment, Construction & Architecture, Government & Public Safety, and Others), and Geography