North American Managed Services Market Overview
The North American managed services market was valued at USD 50.72 billion in 2021, and it is expected to reach USD 95.24 billion by 2027, registering a CAGR of 11.94% from 2022 through 2027. Managed service is the practice of outsourcing on a proactive basis certain processes and functions intended to improve operations and cut expenses. It simplifies IT operations, increases user satisfaction, and improves service quality while reducing operating costs. The North American market is growing due to the changing landscape of IT infrastructure, especially in small and medium enterprises (SMEs), which are continually focusing on outsourcing cybersecurity solutions. For instance, Kpaul Properties LLC, one of the emerging manufacturers and distributors of IT supplies in the United States, onboarded FUJITSU to replace a physical server with a virtualized environment. This has reduced the company’s cost by around 15% and delivered 95% uptime.
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North America Managed Services Market – Geographical Overview
The market for managed services in Canada is growing mainly due to new product roll-outs, acquisitions, mergers, and partnerships, which are shaping the market landscape in overall North America. For instance, Starport is a Canada-based managed IT services provider that delivers the class IT design, implementation, and continuous network monitoring to mid-sized organizations, throughout Canada; most of its clients are concentrated in the Greater Toronto Area. It offers its services to clients from a variety of industries, including investment banking, manufacturing, and commercial real estate, among others. Besides, Canada is witnessing high growth in the application of multi-cloud environments and increased adoption of automation. In the region, cloud, mobile, and social technologies demand that businesses take a proactive approach toward IT security, thus, boosting the demand for the deployment of robust managed services that would deliver in all security management layers.
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Recent Developments in the North America Managed Services Market
In February 2022, Verizon Business announced the inclusion of VMware to Verizon’s Managed WAN Service’s global managed Software-Defined Wide Area Network (SD-WAN) service portfolio.
In December 2021, Verizon Business announced an enhancement in its Network as a Service (NaaS) digitization strategy with the addition of Cisco-managed SD-WAN services, including options for 4G/5G connectivity. With these new solutions, enterprises can leverage Verizon’s 4G and 5G networks, as well as the network-as-a-service strategy, giving them the ability to scale, adopt the latest technology, and remain agile to meet the ever-changing customer demands.
In November 2021, AT&T added a new offering to manage the Secure Access Service Edge (SASE) portfolio. AT&T SASE with Cisco is a converged network and security management system that uses software-defined wide-area networking (SD-WAN) technology and security capabilities to connect and protect businesses.
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List of Key Players in the North America Managed Services Market
Cisco Systems Inc.
HP Development Company LP
Verizon Communications Inc.
Dell Technologies Inc.
Citrix Systems Inc.
*List Not Exhaustive
Mordor Intelligence has segmented the North America Managed Services Market based on deployment, type, enterprise size, end-user vertical, and country:
Deployment (Market Size & Forecast based on Revenue (USD billion), 2020-2027)
Type (Market Size & Forecast based on Revenue (USD billion), 2020-2027)
Managed Data Center
Enterprise Size (Market Size & Forecast based on Revenue (USD billion), 2020-2027)
End-user Vertical (Market Size & Forecast based on Revenue (USD billion), 2020-2027)
IT and Telecommunication
Entertainment and Media
Country (Market Size & Forecast based on Revenue (USD billion), 2020-2027)
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