If you are looking for Cloud Services in Western Michigan or Network Engineering and Support Services in Grand Rapids reach out to Micro Visions.
Managed IT Services sector is growing
The market for IT managed services is expanding rapidly. The modern economy has grown to rely on well-designed IT infrastructure to keep its operations functioning. According to Research Dive, the market will reach $411 billion in 2027, up from $174 billion in 2019, representing a Compound Annual Growth Rate (CAGR) of 10.2 percent throughout that time period. This isn't just about being competitive; in order to thrive, businesses of all sizes require complete IT infrastructure solutions. MSPs are decreasing costs and boosting efficiency by serving the needs of both large and small firms. As a result, the industry's worth has skyrocketed, as has demand for its services.
Market Analysis Managed IT Services in Grand Rapids MI
A Managed IT Services in Grand Rapids MI market analysis of the industry reveals that growth is focused on a few key sectors.
According to managed services industry research, the following are some of the fastest expanding segments:
- Cloud Services
- Cyber security
- Disaster Recovery And Business Continuity
- Professional IT Consulting Services
- Network Engineering And Support Services
According to Grand View Research, the 2016 cloud-managed IT services industry was worth more than $23 billion and is expected to be worth more than $80 billion by 2020. Key market categories such as cloud migration and adoption are driving industry growth.
Amazon Web Services and other major, strong organizations have established cloud service partner programs. This has simplified the cloud adoption process. Participating in these partner programs has also pushed MSPs to focus on cloud services.
Market Research on the development of Managed Services-
MSPs have been among the most significant winners of the larger 2020 economy. With the pandemic in full swing, many businesses shifted to work-from-home arrangements or expanded their dependence on the cloud and related services.
Even before COVID, some estimates put MSPs in charge of 90 percent of Fortune 1000 businesses' IT infrastructures or services. We may expect that number to climb in the post-COVID era. Furthermore, technical advancements made in 2020 (and expected to continue throughout the decade) have fueled industrial development.
The continued advancement of AI and cloud services will necessitate adaptive methods to incorporate these technologies within a company. MSPs that specialize in these areas and incorporate emerging technology into their services will be best positioned to benefit from this expanding market sector. Working from home beyond 2020, as well as reliance on cloud management and interconnectivity will drive managed services industry development for the foreseeable future.
If you are looking for Cloud Services in Western Michigan or Network Engineering and Support Services in Grand Rapids reach out to Micro Visions. Micro Vision is a Western Michigan-based award-winning supplier of managed IT services and technology consultancy. Their firm has been assisting businesses of all sizes with vital business needs for almost 30 years. Their specialists collaborate with your team to understand your specific business difficulties and provide cost-effective, dependable solutions.