Emerging complex technologies drive managed services market

The demand for managed IT services has been growing at a steady rate as more organizations seek support for successfully implementing and maintaining emerging technology trends. As processes become more complex, businesses have come to rely more on solution providers to guide them through any issues and ensure that the system remains fully operational. The need for these offerings is demonstrated through the significant growth in the market and the rapid uptake of the services.

Managed services have become a major asset for many organizations, as it allows them to implement innovative technology without having to go through the process alone. According to a recent report by MarketsandMarkets, the global managed services market is expected to grow 12.4 percent annually over the next five years, increasing from $142.75 billion to more than $256 billion in that time. The study noted a large demand across every industry vertical as businesses have been able to realize 30 to 40 percent savings in IT costs from switching to managed services. With this solution, the company can better focus on its core needs and increase operational efficiency.

“Enterprises have accepted outsourcing services as a means to enable them reduce their Capital Expenditure (CapEx) and free up internal sources,” the report stated. “Newer managed services that penetrate almost all the industry domains, along with aggressive pricing in services, are being offered. This results in increase in the overall revenues of the managed services market.”

Using management best practices
More businesses are using managed services for their technology needs like implementing a new solution and maintaining the system. An InformationWeek report noted that using IT service management, organizations can easily gain support for fixing errors and automate some of their routine processes. The company leveraging managed services must also delegate the responsibility for monitoring root causes of incidents and service interruptions. This will help the system continue running at optimal performance levels and reduce the risk for unexpected downtime.

“Quick remediation of problems avoids conflicting and unnecessary action by coordinating all activities within the responsible IT function, organization and vendors for technical analysis and root cause elimination,” according to the report.

Having the right support is integral to business functions, as it will ensure that the company rapidly recovers from any potential threats. As technology continues to become more complex, managed services, such as what is offered by FlexITy, will be crucial to giving organizations the tools and training they need to succeed.