ARN Innovation Awards
As-A-Service | Establishing Recurring Revenue & Business Resiliency
The Only Constant is Change, and When Technology is involved, change occurs at the Speed of Light.
Is it any wonder that businesses look outside for IT help and expertise?
As security threats grow and technology becomes more complex, more companies are outsourcing their IT management and maintenance functions. IT service providers are responding to this growing need by introducing a new business model, managed services, that can take the burden of IT management off their clients’ backs.
Managed service providers (MSPs) typically form an ongoing contractual relationship with a client by remotely monitoring, managing, and updating their clients’ technology infrastructure, systems, and services. This includes email, network and security software, and more complex pieces of technology, such as line of business applications.
The idea of outsourcing IT has become so appealing that worldwide spending for IT outsourcing is increasing.
The managed services market size is expected to grow from $152.45 billion in 2017 to $257.84 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 11.1% during the forecast period.