The global managed services market is set for steady expansion, with revenues projected to grow from $365.33 billion in 2024 to $511.03 billion by 2029, according to a new report by Markets-and-Markets.
The market is expected to register a compound annual growth rate (CAGR) of 6.9% during the forecast period, reflecting rising enterprise reliance on outsourced IT and digital operations.
Managed services are increasingly becoming a strategic necessity as organisations navigate complex IT environments, cloud adoption, cybersecurity threats, and skills shortages.
Enterprises are shifting focus from capital-intensive IT ownership to outcome-driven, subscription-based service models that improve efficiency, scalability, and cost predictability.
Key growth segments include managed IT
infrastructure and data center services, managed network services, and managed security services, as organisations prioritise uptime, resilience, and protection against evolving cyber risks.
Demand is also rising for managed communication and collaboration services, driven by hybrid work models, along with managed mobility and information services supporting distributed workforces and data-intensive operations.
The market’s growth is further fuelled by digital transformation initiatives, increased adoption of cloud-native architectures, and the integration of AI and automation into IT operations.
Small and mid-sized enterprises are emerging as strong adopters, leveraging managed services to access advanced capabilities without heavy upfront investments.
As enterprises pursue agility, security, and operational excellence, managed services are expected to play a central role in shaping the future of global IT delivery.
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