Outsourcing day-to-day management functions from a third party are known as managed services. Technological proliferation and advancement of cloud based technology has mainly led to the development of managed services (MS). Managed services involve handling the customers IT work by taking over their IT infrastructure and networks wherein the ownership rights stay with the end user The available services include support in production, maintenance and support, HR activities etc. Managed Services assist in cutting down expenses, improving operational efficiency and help business focus on their core competencies. Providing services with continuous improvement is the key value proposition and customers benefit with better quality and value for money. The market comprises services, solutions, software, networks, etc. and is broadly categorized into Application Service Providers (ASP) which provides advanced telecommunication equipments, IT related services etc. and Managed Service Providers (MSP) which offer vendor-specific services and provide business functionalities, such as billing, business processes, support, etc.
Managed services can be segmented on the basis of services offered including managed data center, managed security, managed network, managed communications etc. The key end users include retail sector, banking and financial services, telecommunication, education, supply chain and logistics, manufacturing, healthcare and pharmaceuticals, energy industry.etc .Key services offered include network management, security management, storage management, database management, server management etc. The growth areas for Managed services encompass hiring staff, expansion of facilities, innovation etc.
Managed services assist in optimum resource allocation and utilization which further enhances profitability and improves operational efficiency. The key drivers to the market are advancement in technology such as mobility services, cloud computing, big data etc. In addition, improving operational efficiency, catering effectively to the dynamic business environment, improving profit margins have spurred the market growth. Managed services implementation reduces the IT cost considerably which improves organizational flexibility and gives them a technical advantage. Furthermore new managed services are penetrating almost all industry domains which is expected to serve as a market driver. The challenges include privacy and security concerns, expenditure, need for skilled manpower, efficacy of the manage service model, etc. In addition, macroeconomic factors may pose a challenge to global market growth.
The key vendors in this market include 3T systems , Acropolis Technology Group, AT&T, Cisco, Aricent, Huawei, Glowpoint Inc, Hewlett and Packard(HP), Ericsson, Nokia, Alcatel-Lucent, IBM, etc. Managed services are considered to be a lucrative option by businesses worldwide owing to the complexity of network and IT infrastructure facilities. Businesses such as telecommunication, banking and financial services, public sector are expected to be the major market contributors.
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