Managed IT Procurement Service 2025 to Grow at XX CAGR with XXX million Market Size: Analysis and Forecasts 2033

Key Insights

The global managed IT procurement service market is estimated to be worth XXX million in 2025 and is projected to grow at a CAGR of XX% over the forecast period. The growth of the market is attributed to the increasing adoption of cloud computing, the need for cost-effective IT solutions, and the growing complexity of IT environments. Managed IT procurement services provide businesses with a cost-effective and efficient way to manage their IT infrastructure and applications.

Key drivers of the market include the increasing adoption of cloud computing, the need for cost-effective IT solutions, and the growing complexity of IT environments. Cloud computing is becoming increasingly popular as it offers businesses a number of advantages, such as scalability, flexibility, and cost-effectiveness. Managed IT procurement services can help businesses to manage their cloud computing infrastructure and applications, and to ensure that they are getting the most value from their investment. Additionally, businesses are increasingly looking for cost-effective IT solutions. Managed IT procurement services can help businesses to reduce their IT costs by providing them with access to discounted pricing on hardware, software, and services. Finally, the growing complexity of IT environments is making it more difficult for businesses to manage their IT infrastructure and applications. Managed IT procurement services can help businesses to simplify their IT environment and to improve their overall IT performance.

Managed IT Procurement Service Trends

The global managed IT procurement service market size was valued at USD 12.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.2% from 2021 to 2028. The increasing adoption of cloud computing, the growing need for cost optimization, and the rising demand for managed security services are the key factors driving the growth of the market. The managed IT procurement service market is expected to grow significantly in the coming years due to the increasing adoption of cloud computing and the growing need for cost optimization.

Driving Forces: What's Propelling the Managed IT Procurement Service

The key driving forces behind the growth of the managed IT procurement service market are

• Increasing adoption of cloud computing: Cloud computing is becoming increasingly popular as it offers a number of advantages over traditional IT infrastructure, such as scalability, flexibility, and cost-effectiveness. Managed IT procurement services can help businesses to transition to the cloud and manage their cloud infrastructure.

• Growing need for cost optimization: Businesses are increasingly looking for ways to reduce their IT costs. Managed IT procurement services can help businesses to optimize their IT spending by providing them with access to a team of experts who can negotiate better deals with vendors.

• Rising demand for managed security services: The increasing number of cyber threats has led to a growing demand for managed security services. Managed IT procurement services can help businesses to implement and manage a comprehensive security solution that can protect their data and systems from cyber attacks.

Challenges and Restraints in Managed IT Procurement Service

The key challenges and restraints in the managed IT procurement service market are:

• Lack of awareness: Many businesses are not aware of the benefits of managed IT procurement services. This can make it difficult for managed IT procurement service providers to market their services to potential customers.

• Resistance to change: Some businesses are reluctant to change their existing IT procurement processes. This can make it difficult for managed IT procurement service providers to convince businesses to switch to their services.

• Security concerns: Businesses may be concerned about the security of their data if they use a managed IT procurement service. This is because managed IT procurement service providers typically have access to a business's IT systems.

Key Region or Country & Segment to Dominate the Market

The North America region is expected to dominate the global managed IT procurement service market throughout the forecast period. The region accounted for the largest share of the market in 2020 and is expected to continue to grow at a significant rate in the coming years. The growth of the market in North America is being driven by the increasing adoption of cloud computing and the growing need for cost optimization.

The hardware segment is expected to account for the largest share of the managed IT procurement service market during the forecast period. This is because hardware is a major component of IT infrastructure and requires specialized expertise to manage. The software segment is expected to grow at the fastest rate during the forecast period. This is because software is becoming increasingly important as businesses move to the cloud and adopt new technologies.

The large enterprises segment is expected to account for the largest share of the managed IT procurement service market during the forecast period. This is because large enterprises have complex IT needs and require specialized expertise to manage their IT infrastructure. The SMEs segment is expected to grow at the fastest rate during the forecast period. This is because SMEs are increasingly adopting cloud computing and other new technologies, which is driving the demand for managed IT procurement services.

Growth Catalysts in Managed IT Procurement Service Industry

The key growth catalysts in the managed IT procurement service industry are:

• Increasing adoption of cloud computing: Cloud computing is becoming increasingly popular as it offers a number of advantages over traditional IT infrastructure, such as scalability, flexibility, and cost-effectiveness. Managed IT procurement services can help businesses to transition to the cloud and manage their cloud infrastructure.
• Growing need for cost optimization: Businesses are increasingly looking for ways to reduce their IT costs. Managed IT procurement services can help businesses to optimize their IT spending by providing them with access to a team of experts who can negotiate better deals with vendors.
• Rising demand for managed security services: The increasing number of cyber threats has led to a growing demand for managed security services. Managed IT procurement services can help businesses to implement and manage a comprehensive security solution that can protect their data and systems from cyber attacks.
• Government initiatives: Governments around the world are implementing initiatives to promote the adoption of managed IT procurement services. For example, the US government has launched the Cloud First initiative, which encourages agencies to adopt cloud computing services.

Leading Players in the Managed IT Procurement Service

The leading players in the managed IT procurement service market are:

• Ntiva
• Com Pro
• Cardonet
• National IT
• Optimising IT
• Cheeky Munkey
• Insight
• Egiss
• Power Consulting
• Pyramid Global Technologies
• AAITPRO
• Resourcive
• SSI
• Missing Link
• Woodstock IT
• ITConnexion
• CDW
• Softchoice
• TD Synnex

Significant Developments in Managed IT Procurement Service Sector

The managed IT procurement service sector has witnessed a number of significant developments in recent years, including:

• The increasing adoption of cloud computing: Cloud computing is becoming increasingly popular as it offers a number of advantages over traditional IT infrastructure, such as scalability, flexibility, and cost-effectiveness. Managed IT procurement services can help businesses to transition to the cloud and manage their cloud infrastructure.
• The growing need for cost optimization: Businesses are increasingly looking for ways to reduce their IT costs. Managed IT procurement services can help businesses to optimize their IT spending by providing them with access to a team of experts who can negotiate better deals with vendors.
• The rising demand for managed security services: The increasing number of cyber threats has led to a growing demand for managed security services. Managed IT procurement services can help businesses to implement and manage a comprehensive security solution that can protect their data and systems from cyber attacks.
• The development of new technologies: The development of new technologies, such as artificial intelligence (AI) and machine learning (ML), is also expected to drive the growth of the managed IT procurement service market. AI and ML can be used to automate tasks and improve the efficiency of managed IT procurement services.

Comprehensive Coverage Managed IT Procurement Service Report

The comprehensive coverage of the managed IT procurement service report includes:

• Market overview: This section provides an overview of the managed IT procurement service market, including its definition, classification, and scope. It also provides an analysis of the market dynamics, such as drivers, restraints, and challenges.
• Market segmentation: This section segments the managed IT procurement service market by type, application, and region. It provides an analysis of each segment and its growth potential.
• Competitive landscape: This section profiles the leading players in the managed IT procurement service market. It provides an analysis of their market share, strategies, and financial performance.
• Forecasts: This section provides forecasts for the managed IT procurement service market for the period 2021-2028. It provides forecasts for the market size, growth rate, and key trends.

The report is a valuable resource for businesses, investors, and other stakeholders who are interested in the managed IT procurement service market. It provides a comprehensive overview of the market, its key trends, and its growth potential.

Managed IT Procurement Service Segmentation

• 1. Type
  • 1.1. /> Hardware
  • 1.2. Software
• 2. Application
  • 2.1. /> SMEs
  • 2.2. Large Enterprises

Managed IT Procurement Service Segmentation By Geography

• 1. North America
  • 1.1. United States
  • 1.2. Canada
  • 1.3. Mexico
• 2. South America
  • 2.1. Brazil
  • 2.2. Argentina
  • 2.3. Rest of South America
• 3. Europe
  • 3.1. United Kingdom
  • 3.2. Germany
  • 3.3. France
  • 3.4. Italy
  • 3.5. Spain
  • 3.6. Russia
  • 3.7. Benelux
  • 3.8. Nordics
  • 3.9. Rest of Europe
• 4. Middle East & Africa
  • 4.1. Turkey
  • 4.2. Israel
  • 4.3. GCC
  • 4.4. North Africa
  • 4.5. South Africa
  • 4.6. Rest of Middle East & Africa
• 5. Asia Pacific
  • 5.1. China
  • 5.2. India
  • 5.3. Japan
  • 5.4. South Korea
  • 5.5. ASEAN
  • 5.6. Oceania
  • 5.7. Rest of Asia Pacific