Table of Contents
Managed Services Market Overview
Managed services are outsourced IT solutions offered by third-party providers to oversee and maintain an organization’s IT infrastructure and technology needs. These services encompass various aspects of IT, including network management, data center operations, cybersecurity, cloud computing, and helpdesk support.
Businesses opt for managed services to reduce IT costs, enhance system reliability and security, tap into specialized expertise, and allow their in-house IT teams to concentrate on strategic initiatives instead of day-to-day maintenance. Managed services are scalable and adaptable, making them suitable for businesses of all sizes, and providers prioritize security measures to safeguard clients’ data and systems.
By offering proactive, ongoing monitoring and maintenance, managed services providers ensure the smooth operation of IT systems, keeping them updated and addressing issues swiftly. This approach contrasts with traditional IT support, which is often reactive. Overall, managed services provide a cost-effective, efficient, and secure solution for organizations looking to optimize their IT operations and focus on core business objectives.
Market Drivers
Growing Complexity of IT Environments:
Modern businesses rely heavily on technology to function efficiently. As technology advances, IT environments become increasingly intricate, with various systems, networks, and applications that require ongoing maintenance and support.
Managing this complexity can be challenging for in-house IT teams, leading businesses to turn to managed services providers specializing in handling multifaceted IT ecosystems. These providers have the expertise and resources to navigate the intricacies of modern technology, ensuring that systems run smoothly, remain secure, and stay up-to-date.
Need for Cost-Effective IT Management:
Operating and maintaining IT infrastructure internally can be a costly endeavor. It encompasses the costs of recruiting and keeping proficient IT experts and the costs linked to hardware, software, updates, and upkeep.
Managed services are more economical since they generally function on a subscription or pay-as-you-go basis, enabling businesses to budget more reliably. By delegating IT management to an external provider, companies can lower operational expenses while still enjoying skilled assistance and the opportunity to utilize state-of-the-art technology solutions.
Market Size
In 2022, the managed services market was valued at $278.9 billion. By 2032, the Market’s size is projected to grow to $834.7 billion, demonstrating a consistent annual growth rate (CAGR) of 11.9% from 2023 to 2033.
List of Major Companies
These are the top ten companies operating in the eLearning Market:
IBM
Company Overview
| Establishment Year | 1911 |
| Headquarter | The US |
| Key Management | Arvind Krishna (CEO) |
| Revenue (US$ Bn) | $ 60.5 Billion (2022) |
| Headcount | ~ 288, 300 (2022) |
| Website | www.ibm.com |
About IBM
The International Business Machines Corporation (IBM) provides a wide range of hardware and software solutions, from computers and servers to storage and networking equipment. Additionally, the company offers consulting, technology, and business services, including cloud-based computing, data analytics, and Artificial Intelligence(AI).
The International Business Machines Corporation (IBM) is an American multinational technology company. The company was incorporated in 1911 and is based in Armonk (New York). The company was called the Computing- Tabulating and Recording Company (CTR). In 1924, the company changed its name to IBM. IBM is the biggest IT company in the world, operating in more than 170 countries.
Geographical Presence
One of the world’s leading technology and IT services companies, IBM Corporation maintains a vast global presence with operations spanning more than 170 countries worldwide. Established in 1911, IBM’s headquarters are situated in Armonk, New York, USA, serving as the central hub for its global activities.
The company’s extensive geographical reach encompasses regional offices, research centers, data centers, and manufacturing facilities strategically located in key cities and regions throughout North America, Europe, Asia-Pacific, and other continents. IBM’s global footprint underscores its commitment to delivering a wide range of technology solutions, including cloud computing, artificial intelligence, and blockchain, to clients across various industries, making it a pivotal player in the global tech landscape.
Recent Developments
- September 2023: The IBM Payments Center became a part of the Swift Partner Programme, creating fresh chances for collaboration with members of Swift.
- September 2023: IBM Announced a three-year commitment to training two million individuals in Artificial Intelligence, with a particular emphasis on underrepresented communities.
Accenture
Company Overview
| Establishment Year | 1989 |
| Headquarter | Dublin, Ireland |
| Key Management | Julie Sweet (CEO) |
| Revenue (US$ Bn) | $ 62 Billion (2022) |
| Headcount | ~ 733,000 (2022) |
| Website | www.accenture.com |
About Accenture
Accenture, a multinational professional services company, was established in 1989 by Arthur E. Andersen and has its main office in Dublin, Ireland. It focuses on delivering diverse services, encompassing strategy, consulting, digital solutions, technology, and operations. These services aid clients in effectively addressing the complexities of the digital era.
Operating across 120+ countries and in over 200 cities worldwide, Accenture assists businesses in leveraging technology and innovation to boost their growth, streamline their operations, and bolster their competitiveness in the ever-changing modern business environment.
Geographical Presence
Accenture boasts an extensive and wide-reaching global reach, operating in over 120 countries globally. This extensive presence encompasses robust operations in North America, Europe, Asia-Pacific, the Middle East, and Africa.
The company serves clients across diverse industries and sectors in significant urban areas and regions, offering a broad spectrum of professional services that range from strategy and consulting to digital transformation and technology solutions. Accenture’s global footprint allows it to provide creative and customized solutions, addressing clients’ distinctive requirements and difficulties across various geographical locations and markets.
Recent Developments
- September 2023: The world’s largest IT consulting firm, Accenture, invested in the artificial intelligence (AI) platform Writer to speed up enterprise adoption of Genome AI.
- August 2023: Accenture takes on SIGNAL to expand its integrated marketing capabilities in Japan.
Infosys
Company Overview
| Establishment Year | 1981 |
| Headquarter | India |
| Key Management | Salil Parekh (CEO) |
| Revenue (US$ Bn) | $ 18.2 Billion (2022) |
| Headcount | ~3,38,186 (2022) |
| Website | www.infosys.com |
About Infosys
Infosys is a multinational corporation founded in 1981 by N.R. Narayana Murthy and his colleagues, headquartered in Bengaluru, India. It is a global leader in consulting, technology, and outsourcing services, serving clients in over 46 countries. Infosys provides many solutions, including IT consulting, application development, infrastructure management, and business process outsourcing.
The company is renowned for its commitment to innovation, delivering cutting-edge technology solutions to help organizations navigate the complexities of the digital world and achieve their business objectives efficiently and effectively.
Geographical Presence
Infosys, headquartered in Bengaluru, India, boasts a vast and extensive global geographical presence, with offices and delivery centers strategically located in over 46 countries worldwide. This extensive footprint includes a strong presence in North America, Europe, Asia-Pacific, the Middle East, and Africa.
Infosys serves diverse clients from various industries and sectors, providing innovative consulting, technology, and outsourcing services tailored to their unique needs. With a global workforce and a commitment to digital excellence, Infosys is well-equipped to offer transformative solutions that empower organizations to thrive in the ever-evolving global business landscape.
Recent Developments
- September 2023: Infosys Collaborates with Europe’s STARK Group to Accelerate Digital Transformation.
- August 2023: Infosys signed a $1.64 billion deal with Liberty Global to scale digital platforms.
Cognizant
Company Overview
| Establishment Year | 1994 |
| Headquarter | The US |
| Key Management | Ravi Kumar (CEO) |
| Revenue (US$ Bn) | $ 19.3 Billion (2022) |
| Headcount | ~ 355,300 (2022) |
| Website | www.cognizant.com |
About Cognizant
Established in 1994 by Kumar Mahadeva and based in Teaneck, New Jersey, USA, Cognizant is a multinational firm specializing in technology services and consulting. Its focus includes offering a broad range of services, such as digital transformation, IT consulting, and business process outsourcing, to aid clients in addressing the complexities of the digital age.
Operating globally across various industries and regions, Cognizant enables organizations to leverage technology and innovation for growth, efficiency, and competitiveness in the ever-changing modern business landscape.
Geographical Presence
Cognizant possesses a robust worldwide presence, strategically situating its operations and offices throughout the Americas, Europe, Asia-Pacific, and the Middle East. It holds a significant presence in the United States, Canada, and various Latin American nations in the Americas. Itgnizant maintains a strong principle of Europe across multiple countries, including the United Kingdom, Germany, and the Netherlands.
Across the Asia-Pacific region, the company is notably established in India, Australia, and numerous Southeast Asian countries. Furthermore, Cognizant serves clients in the Middle East and Africa. This extensive global reach enables Cognizant to offer a wide array of technology, consulting, and outsourcing services to clients spanning different industries and geographical regions, empowering them to thrive in the digital age.
Recent Developments
- July 2023: Cognizant extended a partnership with biopharma firm Gilead, estimated deal size of $800 million
- June 2022: Cognizant and ServiceNow signed a strategic pact to create a $1 billion biz.
Wipro
Company Overview
| Establishment Year | 1945 |
| Headquarter | India |
| Key Management | Thierry Delaporte (CEO) |
| Revenue (US$ Bn) | $ 10,425 Billion (2022) |
| Headcount | ~ 240,000(2022) |
| Website | www.wipro.com |
About Wipro
Wipro is a prominent multinational corporation founded in 1945 by Mohamed Premji as Western India Vegetable Products Limited and headquartered in Bengaluru, India. It is a global leader in information technology, consulting, and business process services.
Wipro provides a wide range of innovative solutions, including IT consulting, application development, infrastructure management, and business process outsourcing, to assist organizations in navigating the complexities of the digital age. With a nearly eight-year history, Wipro continues to be at the forefront of technological advancements, delivering tailored services that empower businesses worldwide to achieve their goals efficiently and effectively.
Geographical Presence
Wipro possesses a substantial global presence, strategically positioning its offices and operations across all six continents. It maintains a notable presence in North America with offices in the United States, Canada, and Mexico. Wipro has established a strong footing in countries like the United Kingdom, Germany, and France in Europe. Across the Asia-Pacific region, it is prominently positioned in India, Australia, Singapore, and multiple Southeast Asian nations.
Furthermore, Wipro extends its services to clients in the Middle East and Africa. This extensive worldwide reach allows Wipro to offer diverse technology, consulting, and outsourcing services to clients across various industries and regions, supporting their digital transformation and business growth endeavors.
Recent Developments
- August 2023: Wipro inaugurated the Generative AI Center of Excellence at IIT Delhi.
- July 2023: Wipro introduced AI360 in India, pledging to invest $1 billion over three years and ensuring that all 250,000 employees receive AI training.
Atos
Company Overview
| Establishment Year | 1997 |
| Headquarter | Netherlands |
| Key Management | Nourdine Bihmane (CEO) |
| Revenue (US$ Bn) | $ 11.3 Billion (2022) |
| Headcount | ~ 1,10,000(2022) |
| Website | www.atos.net |
About Atos
Atos is a multinational information technology services company founded in 1982 by Bernard Bourigeaud, headquartered in Bezons, France. It specializes in providing various digital services and solutions, including IT consulting, cybersecurity, cloud computing, and data analytics.
Atos serves clients across various industries and sectors, helping them harness the power of digital transformation to drive innovation, improve efficiency, and remain competitive in the ever-evolving digital landscape. With a global presence in over 70 countries and a commitment to delivering cutting-edge technology solutions, Atos is pivotal in enabling organizations to thrive in the digital era.
Geographical Presence
Atos has a comprehensive global geographical presence, with a network of offices and operations spanning more than 70 countries. The company maintains a strong foothold in Europe, with a significant presence in countries such as France, Germany, the United Kingdom, and Spain. Atos has a notable presence in the United States and Canada in North America. Across the Asia-Pacific region, it operates in countries including India, Australia, Singapore, and China.
Additionally, Atos serves clients in Latin America, the Middle East, and Africa. This extensive global footprint positions Atos to deliver a wide spectrum of digital services and technology solutions to clients across diverse industries and geographies, supporting their digital transformation and business growth endeavors on a global scale.
Recent Developments
- April 2023: Atos unveiled the Eviden brand in anticipation of a €5 billion carve-out.
- July 2022: Atos launches a Technology Consulting advisory portfolio for C-suite.
Capgemini
Company Overview
| Establishment Year | 1967 |
| Headquarter | France |
| Key Management | Aiman Ezzat (CEO) |
| Revenue (US$ Bn) | $ 22 Billion (2022) |
| Headcount | ~ 3,57000 (2022) |
| Website | www.capgemini.com |
About Capgemini
Capgemini, founded in 1967 by Serge Kampf and headquartered in Paris, France, is a global leader in consulting, technology services, and digital transformation. With a history spanning several decades, the company provides a comprehensive suite of services, including IT consulting, cloud computing, cybersecurity, and application development and maintenance.
Capgemini serves clients across various industries, assisting them in leveraging technology to drive innovation, streamline operations, and achieve their strategic objectives. Known for its commitment to excellence and innovation, Capgemini operates in over 50 countries, collaborating with organizations worldwide to navigate the challenges and opportunities of the digital age.
Geographical Presence
Capgemini maintains a strong and extensive global geographical presence, with operations and offices strategically located in over 50 countries across six continents. The company has a significant presence in Europe in countries such as France, the United Kingdom, Germany, and the Netherlands. It operates in North America, the United States, and Canada. Across the Asia-Pacific region, Capgemini has notable offices in India, Australia, Singapore, and several other countries.
Additionally, it serves clients in Latin America, the Middle East, and Africa. This extensive global footprint positions Capgemini to deliver a wide spectrum of consulting, technology, and digital transformation services to clients spanning diverse industries and regions, helping them achieve their business goals and stay competitive in today’s dynamic digital landscape
Recent Developments
- September 2023: Capgemini revealed the introduction of its Employee Share Ownership Plan under a tentatively titled initiative.
- September 2023: Capgemini acquired Exiger’s FCC Division to broaden its advisory, analytical, and managed services capabilities in financial crime compliance.
HCL
Company Overview
| Establishment Year | 1991 |
| Headquarter | India |
| Key Management | C Vijayakumar (CEO) |
| Revenue (US$ Bn) | $ 10.34 Billion (2022) |
| Headcount | ~ 225,994 (2022) |
| Website | www.hcltech.com |
About HCL
HCL (Hindustan Computers Limited), established in 1976 by Shiv Nadar, is headquartered in Noida, India. It is a prominent multinational IT services and consulting company. HCL offers a comprehensive range of services, including IT consulting, application development and maintenance, infrastructure management, and engineering services, serving clients across various industries worldwide.
Known for its commitment to innovation and customer-centric approach, HCL has a global presence with offices in multiple countries. It provides tailored technology solutions to help organizations navigate the digital era, improve efficiency, and drive business growth.
Geographical Presence
HCL Technologies maintains a robust global geographical presence, with a network of offices and operations spanning more than 40 countries. In North America, the company has a significant presence in the United States and Canada, serving many clients. HCL operates in countries such as the United Kingdom, Germany, France, and the Netherlands in Europe. Across the Asia-Pacific region, it has notable offices in India, Australia, Singapore, and other Southeast Asian nations.
Additionally, HCL serves clients in the Middle East, Latin America, and Africa. This extensive global footprint positions HCL Technologies as a key player in delivering a diverse portfolio of IT services and solutions to clients across various industries and geographies, supporting their digital transformation and business success on a global scale.
Recent Developments
- September 2023: HCL Tech completed the acquisition of German company ASAP Group; stock flat.
- August 2023: HCL Tech saw a 4% increase in its share price following the announcement of a USD 2.1 billion agreement with Verizon Communications.
Carousel
Company Overview
| Establishment Year | 1992 |
| Headquarter | The US |
| Key Management | Jeff Gardner (CEO) |
| Revenue (US$ Bn) | $ 364.9 Million (2022) |
| Headcount | ~ 3000 (2022) |
| Website | wncarousel.com |
About Carousel
Carousel is a prominent Cloud Communications Service Provider (CCSP) dedicated to enhancing the customer and workspace experience for commercial, enterprise, and public sector entities. The company delivers service-based solutions that enable secure remote work capabilities.
Serving more than 6,000 clients across the United States, NWN Carousel offers a comprehensive suite of integrated services, including cloud communications, security, contact center services, device management, connectivity, and advanced technology solutions.
Geographical Presence
Carousel Industries has a notable geographical presence spanning Hong Kong, Malaysia, the Philippines, Singapore, and Taiwan, strategically positioning itself in key Asian markets.
Recent Developments
- September 2023: NWN Carousel opened a new Innovative Boston Experience & Collaboration Center.
- July 2023: Baltimore and NWN Carousel rolled out an upgraded 911 system using AI-based technology.
Dxc
Company Overview
| Establishment Year | 2017 |
| Headquarter | The US |
| Key Management | Mike Salvino (CEO) |
| Revenue (US$ Bn) | $ 16.27 Billion (2022) |
| Headcount | ~1,30,000 (2022) |
| Website | www.dxc.com |
About DXC Technology
DXC Technology, founded in 2017, is a multinational IT services and consulting company headquartered in Tysons, Virginia, USA. DXC Technology was formed through the merger of Computer Sciences Corporation (CSC) and the Enterprise Services division of Hewlett Packard Enterprise (HPE).
It specializes in managed services providing a wide range of digital transformation services, IT consulting, cloud solutions, cybersecurity, and application development and maintenance to clients across various industries worldwide. DXC Technology is known for its global presence and commitment to helping organizations leverage technology to drive innovation, streamline operations, and achieve their strategic objectives.
Geographical Presence
DXC Technology has a substantial global geographical presence, with operations and offices strategically located in over 70 countries across North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. DXC Technology has a significant presence in North America, serving clients in the United States and Canada.
In Europe, it maintains offices in countries such as the United Kingdom, Germany, France, and Spain. Across the Asia-Pacific region, DXC operates in India, Australia, Singapore, and multiple other countries. Additionally, it serves clients in Latin America, the Middle East, and Africa, offering a diverse range of IT services and solutions to organizations worldwide, helping them navigate digital transformation and achieve their business goals on a global scale.
Recent Developments
- October 2023: DXC Technology to Transform Cloud Strategy for Spanish Regional Government of Galicia.
- September 2023: Spanish Manufacturer Cosentino Taps DXC Technology to Transform Operations with Automation and Robotics.
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