Global Telecom Managed Services Market to Reach $23.9 Billion by 2024

Telecom managed services refers to managing technology infrastructure lounging in an enterprise environment on an ongoing basis through standardized as well as customized offerings intended to deliver on agreed-upon or standard target SLAs. Such critical services range from a key-card computer intended to hand-out room keys for hotel guests, to complex SAP modules that control the entire supply chain of production environments. Amid the COVID-19 crisis, the global market for Telecom Managed Services is projected to reach US$23.9 Billion by 2024, registering a compounded annual growth rate (CAGR) of 11.7% over the analysis period. United States represents the largest regional market for Telecom Managed Services, accounting for an estimated 52.2% share of the global total. The market is projected to reach US$13.4 Billion by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 15.2% over the analysis period.

Rising need for operational efficiency of enterprise IT infrastructure, minimizing OPEX, and rising consumption in productivity apps constitute some of the primary factors fueling growth in the market. Growing awareness about benefits offered by managed model in the form of more efficient management of enterprise infrastructure, operational cost reductions, reduced need for support staff, and seamless execution of day-to-day operations, would aid in wider uptake of managed services model. Furthermore, enterprises would continue to lean towards managed services model to reap high economies of scale and resource affordability benefits. Accelerated adoption within SMBs especially will be a primary growth factor for managed services market. The widespread adoption of enterprise IT infrastructure and substantial penetration of IT solutions and mobile devices among enterprise users support growth in developed regions. Also, the need to comply with stringent industry specific regulations such as HIPAA for healthcare and PCI DSS for BFSI further encourages the adoption of telecom managed services across these verticals. In Asia-Pacific region, China is forecast to witness fastest growth, steered by growing spending on enterprise IT networks, enterprise mobile app usage trends, and growing digital workforce numbers.

The market for Managed Mobility Services is forecast to grow the fastest over the analysis period. Realizing that it is no longer realistic to deploy and manage enterprise mobility solutions in-house given the widespread complexities associated with managing diverse mobility solutions, enterprises are fast taking the outsourcing route by signing up Managed Mobility Services (MMS) and transferring the responsibility of handling enterprise mobility projects to third party service providers. MMS reduces the pressure on in-house IT departments by tackling the complexity of managing multiple devices, device platforms and operating systems. MMS not only supports enterprise owned devices but also provides necessary infrastructure and support for allowing employee owned devices capable of accessing corporate resources and information.