Increasing penetration of cloud computing and other advanced

UNITED STATES ROCKVILLE MD, July 25, 2022 (GLOBE NEWSWIRE) -- Fact.MR – A Market Research and Competitive Intelligence Provider: The globe managed Services market was $262 billion in 2022 and is projected to reach $535.7 billion by the end of 2032. The market is anticipated to grow at a CAGR of 7.4% during the forecast period of 2022 to 2032.

Increase in penetration of Big data technologies and cloud computing has pushed managed service providers to consistently innovate and upgrade their services. The managed services market recorded a CAGR of 8.0% from 2015 to 2021.

In addition, the managed services market is driven by high data security and data protection requirements. The high level of risk due to the high usage of IT and telecom has prompted many companies to opt for managed services. The high demand for protecting a strong IT infrastructure against cyber threats is also driving companies to introduce managed services in their companies.

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