North America Telecom Managed Services Market, By Type (Managed Data Center Services, Managed Network Services, Managed Communication and Collaboration Services, Managed Security Services, Managed Mobility Services, and Others), Managed Information Service (MIS) (Business Process Management, Managed Operational Support Systems/Business Support Systems, Project & Portfolio Management, and Others), Deployment Model (On-Premise and Cloud), Organization Size (Large Enterprises and Small and Medium Enterprises (SMES)) - Industry Trends and Forecast to 2029.
Market Analysis and Size
The role of telecom managed services is to assist the organization in inducing focus towards operational efficiency by managing business activities and strategies. The telecom managed services help organizations maintain the IT infrastructure and further provide business-critical service functions. The rising adoption of cloud computing technologies by small and medium-scale enterprises and rising advancement in technology such as mobility services and big data services to improve operational efficiency are the major factors responsible for the growth of the North America telecom managed services market. However, a dearth of skilled professionals or trained personnel may restrain the North America telecom managed services market growth.
Data Bridge Market Research analyses that the North America telecom managed services market is expected to reach the value of USD 19,909.30 million by 2029, at a CAGR of 14.2% during the forecast period. "Managed data center services" accounts for the largest system segment in the telecom managed services market. The telecom managed services market report also covers pricing analysis, patent analysis, and technological advancements in depth
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customisable to 2019-2014)
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Quantitative Units
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Revenue in USD Million, Pricing in USD
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Segments Covered
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By Type (Managed Data Center Services, Managed Network Services, Managed Communication and Collaboration Services, Managed Security Services, Managed Mobility Services, and Others), Managed Information Service (MIS) (Business Process Management, Managed Operational Support Systems/Business Support Systems, Project & Portfolio Management, and Others), Deployment Model (On-Premise and Cloud), Organization Size (Large Enterprises and Small and Medium Enterprises (SMES))
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Countries Covered
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U.S., Canada, and Mexico
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Market Players Covered
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FUJITSU, DXC Technology Company, IBM Corporation, Cognizant, Wipro Limited, Capgemini, Accenture, Tata Consultancy Services Limited, HCL Technologies Limited, NTT DATA Corporation, Verizon, Cisco Systems, Inc., ZTE Corporation, Huawei Technologies Co., Ltd., Telefonaktiebolaget LM Ericsson, AT&T Intellectual Property, Nokia Corporation, Lumen Technologies, RACKSPACE TECHNOLOGY, INC., Comarch SA, Tech Mahindra Limited, Infosys Limited, GTT Communications, Inc., BT, Unisys, among others
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Market Definition
A managed service is the task handled by a third party, frequently in the context of the business it services. Managed services are used to cut expenses, enhance service quality, or free up internal teams to work on duties that are unique to the specific company, and it is a means to delegate general chores to a specialist. A managed service provider is a business that offers these services. A managed services provider is often an IT services provider that manages and assumes responsibility for providing a defined set of services to its clients.
Telecom managed services enable organizations to reduce their costs in business operations, which allows them to concentrate more on essential business exercises and fundamental techniques, cut down dangers related to business operations, and upgrade operational effectiveness and precision.
North America Telecom Managed Services Market Dynamics
Drivers
- Increasing need for business agility
Business agility has the capability to sustain its maximum potential both its terms of profits and its employees amidst a dynamic external and internal environment. It enables organizations to innovate and deliver more effectively, thus turning market disruption into a competitive advantage while thriving in complex environments.
- Rising customer focus towards enhanced efficiency, cost efficiency, and easy deployment
Managed services are a very cost-effective practice used widely in today's digitization world. It further enables the business owners to reduce the burden of work and concentrate on other core aspects of their operation. Developed countries such as Japan, China, and India always prefer outsourcing their business processes.
- Growing preference for cloud technology and its significance in process automation
Digital technologies have created new opportunities for business leaders. Traditional operations and business process management models are reinventing into more intelligent workflows using automation, artificial intelligence, the internet of things (IoT), the cloud, and other new technologies. Businesses must constantly evolve to more intelligent, fully orchestrated processes that consider clients, employees, suppliers and business partners alike to remain relevant and continue their growth.
- Surging demand for data centers
COVID-19 has led to a high generation of data as people have started working from home, organizations are getting digitally transformed, and organization is adopting various digital technologies. The increasing flow of data needs to be operated and stored, aided by data centers. Thus, a number of data centers are increasing the demand for their management services, which is one of the major factors for the market growth in the forecast period.
Opportunity
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Emergence of digital technologies, namely AI, IoT, and cloud computing
Cloud computing has turned out to be a major driving force for digital transformation across industries. Not only does it provide unparalleled agility, but it also reduces operational and management overheads. Several governments and businesses are starting to leverage this technology and slowly gaining popularity across several verticals. The potential has become so open that the notion of the cloud is limited to only IT functions has completely changed. This is further integrated with other technologies such as artificial intelligence (AI), the internet of things (IoT), and edge computing, among others.
Restraints/Challenges
- Growing concerns regarding data security and privacy concerns
Data security has become more important than ever, leaving many people curious about how companies handle data security. While business process outsourcing is increasing in popularity, many organizations fear working with a third-party company could put their data at risk. In essence, the rising data security concerns due to external hacks and internal security lapses are a major factor that may hinder the growth of the telecom managed services market.
COVID-19 Impact on North America Telecom Managed Services Market
COVID-19 significantly impacted various industries as almost every country has opted for the shutdown for every facility except those in the essential goods segment. The government has taken some strict actions such as shutting facilities and selling non-essential goods, blocking international trade, and many more to prevent the spread of COVID-19. The only business dealing in this pandemic situation is the essential services allowed to open and run the processes.
COVID-19 outbreak is causing widespread concern and economic hardship for consumers, businesses, and communities across the globe. Telecommunications is a people-intensive industry. The ongoing shift to remote work will drive demand for networking infrastructure and connectivity. Remote work could increase security and infrastructure risks for customers and telcos. Communications providers are dependent on large call center operations to perform critical functions, such as sales and customer service. Most retail locations were shut down, disrupting the telecommunication services.
Manufacturers are making various strategic decisions to bounce back post-COVID-19. The players are conducting multiple research and development activities to improve the technology in the North America telecom managed services market. The companies will bring advanced and accurate solutions to the market. In addition, the government initiatives to boost international trade have led to the market's growth.
Recent Developments
- In April 2022, Verizon entered into a partnership with Nova Credit. The key feature of this partnership was to strengthen easy access to network and device capabilities for the consumer. This partnership will enhance the parental control portfolio using the advanced network. Through this, both the companies will expand their respective market
- In September 2021, Huawei Technologies Co., Ltd. announced they had signed an ICT and managed services agreement with Ooredoo Oman. Under this, the company will provide Ooredoo with network performance management services and operations and maintenance. Thus, the company is expanding its client base in the market
North America Telecom Managed Services Market Scope
North America telecom managed services market is segmented based on type, managed information service (MIS), deployment model, and organization size. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
By Type
- Managed Data Center Services
- Managed Network Services
- Managed Communication And Collaboration Services
- Managed Security Services
- Managed Mobility Services
- Others
On the basis of type, the North America telecom managed services market is segmented into managed data center services, managed network services, managed communication and collaboration services, managed security services, managed mobility services, and others.
By Managed Information Service (MIS)
- Business Process Management
- Managed Operational Support Systems/Business Support Systems
- Project & Portfolio Management
- Others
On the basis of managed information service (MIS), the North America telecom managed services market is segmented into business process management, managed operational support systems/business support systems, project & portfolio management, and others.
By Deployment Model
- On-Premise
- Cloud
On the basis of deployment model, the North America telecom managed services market has been segmented into on-premise and cloud.
By Organization Size
- Large Enterprises
- Small and Medium Enterprises (SMES).
On the basis of organization size, the North America telecom managed services market is segmented into large enterprises and small and medium enterprises (SMES).
North America Telecom Managed Services Market Regional Analysis/Insights
The North America telecom managed services market is analysed, and market size insights and trends are provided by country, type, managed information service (MIS), deployment model, and organization size as referenced above.
The countries covered in the North America telecom managed services market report are the U.S., Canada, and Mexico.
The U.S. is expected to dominate the North America telecom managed services market owing to huge technological advancements and the adoption of managed services. Also, the U.S. has a wide presence of a majority of key players.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North American brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and North America Telecom Managed Services Market Share Analysis
North America telecom managed services market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the North America telecom managed services market.
Some of the major players operating in the North America telecom managed services market are FUJITSU, DXC Technology Company, IBM Corporation, Cognizant, Wipro Limited, Capgemini, Accenture, Tata Consultancy Services Limited, HCL Technologies Limited, NTT DATA Corporation, Verizon, Cisco Systems, Inc., ZTE Corporation, Huawei Technologies Co., Ltd., Telefonaktiebolaget LM Ericsson, AT&T Intellectual Property, Nokia Corporation, Lumen Technologies, RACKSPACE TECHNOLOGY, INC., Comarch SA, Tech Mahindra Limited, Infosys Limited, GTT Communications, Inc., BT, Unisys, among others.
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