Global Managed Services Market is Forecasted to Increase by 7.9% from 2021-2026

MarketsandMarkets™ says the global Managed Services Market size is expected to grow at a Compound Annual Growth Rate (CAGR) of 7.9% during the forecast period, to reach $354.8 billion by 2026.

Enterprises are reaching out to MSPs due to the lack of IT skilled professionals and low IT budgets, especially for SMEs. Companies need outsourced IT management for cloud-based services and also technical support. The high data breach cost is another key factor forcing SMEs and large enterprises to adopt managed security services.

With cloud-managed VPN, enterprises can share sensitive data while avoiding the high cost of leasing private lines between offices and branch locations. The security benefits of VPN drive the demand for this service.

Source: https://www.marketsandmarkets.com/Market-Reports/managed-services-market-1141.html?utm_source=PRNewswire&utm_medium=Referral&utm_campaign=PaidPR