The managed services industry has come a long way from its origins in the early days of the world wide web – when Internet Service Providers would provide firewall support to their customer for a fee. The industry, estimated at US$ 243 billion in 2021, is expected to grow to US$ 355billion in 2026 – a CAGR of 7.9%.
The reasons for this growth are obvious –the high demand for IT professionals, the increasing complexity of an organization’s systems infrastructure, the massive shift to working away from the office – a trend accelerated by the pandemic, regulations and compliance requirements, and the fear of crippling cybersecurity attacks.
So far, the big managed services providers have tried to make themselves one-stop shops for a variety of services: cloud, infrastructure, application development and deployment, data, systems administration, user management and authentication services, and security.
And it makes sense – as the major players in this space are behemoths employing hundreds of thousands of engineers – and can bring large teams with the requisite expertise to each area, as well as invest in comprehensive training programmes to deal with employee turnover. At least, that’s the theory. read more here