SpendEdge Forecasts a Spend Growth of nearly USD 130 Billion for the Managed Services Market
LONDON--(BUSINESS WIRE)--Nov 20, 2019--
SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Managed Services Market – Procurement Intelligence Report.
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Global Managed Services Market Procurement Intelligence Report. (Graphic: Business Wire)
The global business scenario is witnessing the proliferation of SMEs from various industrial verticals. In their effort to limit expenses associated with the acquisition and deployment of hardware and software solutions, the SMEs are leveraging managed services in their IT infrastructure that can help optimize their CAPEX as well as OPEX. This will be one of the prominent growth drivers in the managed services market and will drive the spend momentum at a CAGR of 11% through 2023.
“ Among the market sub-segments, the global storage as a service market will witness a steady stream of investments that will propel its spend growth at a rate of over 20%,” says SpendEdge procurement expert Sumit Yadav.
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Some Insights into the Managed Services Price Trends
- The growing demand for low-cost IT infrastructure will be a major volume driver impacting pricing during the forecast period. Deployment of on-premises cloud systems often entails significant outlay on hardware acquisition and software development. Additionally, there are costs related to talent acquisition, space leasing, and regulatory compliance, which can strain buyers’ budgets, especially SMEs. These factors are leading to an increasing trend of outsourcing IT-related services, especially by the SME sector in developing regions.
- The per-user pricing model is the most widely adopted model in the managed services market. This model has a high level of transparency and is preferred by companies where employees need to handle multiple devices.
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What are the scopes of optimizing procurement spend in the managed services market
Investing in an IT infrastructure market is a costly proposition and typically entails fringe expenditures that are difficult to track and optimize. Strategic selection and relationship with suppliers will play critical roles in optimizing such a potentially increasing expenditure.
- Buyers are advised to issue RFPs to potential service providers and address the queries of managed services suppliers who express interest in their projects. Promoting a competitive bidding scenario by evaluating suppliers on pre-defined parameters such as compliance of suppliers with regard to roles and responsibilities, utilization of application performance and enterprise management tools, and ability to effectively deploy service models will help reduce excess spend.
- Pricing for managed IT services can be extremely granular, and it can be tedious for buyers to monitor their usage since most suppliers provide their own infrastructure. Limited knowledge regarding the configuration, performance, and measurement metrics used by the suppliers for generating the bill will necessitate the need for better pricing transparency.
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Some of the key topics covered in this report are:
- Managed services market spend segmentation by region
- Total cost of ownership analysis in the managed services market
- Regional spend opportunity for managed services suppliers
- Managed services suppliers cost structure
- Managed services suppliers selection criteria
- Managed services suppliers under coverage
- Procurement best practices
- Category management objectives
- Cost saving opportunities in the managed services market
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SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions. To know more, https://www.spendedge.com/request-free-proposal
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PUB: 11/20/2019 12:00 PM/DISC: 11/20/2019 12:01 PM