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The multi vendor support services (MVSS) market size is forecast to increase by USD 12.26 billion, at a CAGR of 4.05% between 2022 and 2027. The rapid changes in IT infrastructure, such as the shift to cloud computing and the adoption of new technologies like AI and IoT, are driving the need for specialized services to manage and maintain these complex environments. The rising maintenance cost of OEM services is leading organizations to seek alternative service providers that can offer more cost-effective solutions. Additionally, the focus on reducing complexity and increasing efficiency in IT operations is driving demand that can streamline processes and improve overall IT performance.
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This report extensively covers market segmentation by service (hardware and software), type (large enterprises, small, and medium-sized enterprises), and geography (North America, APAC, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historical market data from 2017 to 2021.
The market encompasses a diverse range of services crucial for modern businesses. From audit and support contracts to managing old equipment and fostering agreements and collaborations, MVSS plays a pivotal role in optimizing operations. British Telecommunication provides robust endpoint protection solutions within the MVSS landscape, ensuring data security across networks. Services like hybrid cloud recovery and cloud migration facilitate seamless transitions to cloud environments while mitigating risks. MVSS offerings extend to business continuity software and PC as a Service, reducing upfront capital costs and offering premier support for computing assets. Hardware and software monitoring services are integral, especially with the proliferation of IoT (Internet of Things) devices requiring constant supervision. In the MVSS realm, suppliers cater to diverse sectors like Human resources and Production, addressing specific needs within each industry. The MVSS market's segmentation aligns with businesses' requirements, offering tailored solutions for efficient operations and optimal resource utilization.
The market share growth by the hardware segment will be significant during the forecast period. These are preventive and remedial services that physically repair or optimize hardware, including contract maintenance and repair in case of a problem. These include support for remote and on-premises workstations, servers, and storage.
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The hardware segment was valued at USD 31.45 billion in 2017 and will continue to grow by 2021. They also include phone and online technical troubleshooting and setup assistance, as well as all hardware warranty upgrades for a fee. The segment is expected to hold a higher share of the market. The growth of this market is driven by the growing demand for new levels in this market during the forecast period.
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North America is projected to contribute 36% by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The dominance of North America is due to the availability of adequate IT infrastructure and the wide geographical presence of employees due to increasing globalization. Organizations across several industry verticals in North America are improving their business processes to enhance customer satisfaction and gain a competitive advantage in the global market. However, the market in North America has reached maturity. Hence, the growth rate in this region will be slower than in the other regions.
The market is driven by the increasing complexity of IT ecosystems, necessitating audit and streamlined support contracts to manage old equipment effectively. Trends in agreements and collaborations with key players like British Telecommunication offer advanced endpoint protection solutions and facilitate hybrid cloud recovery and seamless cloud migration. However, challenges such as managing upfront capital costs for computing assets and ensuring premier support amid diverse IoT devices and evolving business continuity software pose ongoing challenges in the MVSS landscape. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rapid development in the IT infrastructure is the key factor driving the MVSS market growth. The size and complexity of IT infrastructure are rapidly expanding, driven by growing computing requirements that necessitate larger and more advanced network, server, and storage equipment. Organizations are increasingly adopting digitalized operations, including cloud computing, containerization, and the Internet of Things (IoT), to enhance their business functions.
Moreover, these trends are driving the growth of the market. Furthermore, organizations are progressively using MVSS to manage and maintain their infrastructure due to the shifting technological landscape. All these factors will drive the growth of the market during the forecast period.
The adoption of multi-vendor support services by the sales and marketing segment is the main trend in the market. IT applications are used to enhance marketing and sales distribution activities. Businesses use customer relationship management software solutions to manage clients and prospects, send email messages, and make phone calls. Companies are focusing on digital marketing and use advanced analytics to find customer decisions and current market trends.
Moreover, enterprises increase the efficiency of their business operations by digitizing business applications to extend the life cycle of their devices. Companies also manage software updates and maintain IT infrastructure using these solutions such as hands-on reporting and analysis, remote consulting, and convenient maintenance. Thus, such factors will drive the growth of the market during the forecast period.
Significant Market Challenge
The high implementation and maintenance costs are primary challenges to the market growth. The high cost of deploying is one of the major challenges in the market for SMEs. The price includes the system design and customization cost, implementation cost, training, and maintenance cost.
Moreover, the implementation of support in an organization requires IT staff with relevant skill sets. Enterprises also need to train their employees. Thus, these factors lead to an increased cost, which adversely affects its adoption among the end-user industries such as IT, sales and marketing, and others. Hence, such factors are hindering the market during the forecast period.
The report includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market research report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Abtechtechnologies - The company offers various multi vendor support services such as network monitoring, helpdesk services, and hardware support. They also offer other services such as network monitoring, helpdesk services, and hardware support.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market players, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The market caters to businesses relying on diverse IT assets and traditional systems. It offers IT services from Third-party service providers to manage IT support service systems and IT support & maintenance complexities. These services ensure real-time visibility and an efficient supplier management lifecycle, enhancing operational efficiency. Intelligent network support is provided by original equipment manufacturer services, addressing various IT challenges. As businesses seek streamlined solutions, the market continues to grow, offering comprehensive support for a range of IT environments. The providers offer preventive and corrective services, per-incident repair, and telephonic technical troubleshooting to address customer needs and ensure customer experience. They focus on a proactive service approach and remote business to cater to Small and Medium-sized Enterprises (SMEs) and Individuals.
Moreover, the market offers expert services and practical maintenance services for customer companies using technological systems. They ensure the uptime and life cycle of devices through remote counseling and practical reporting and analytics. The market faces international competition but drives economic growth in developing countries. With technological advancements, MVSS providers offer controls for hardware and software tracking, contract audits, and equipment and inventory management. They cater to various sectors like government & defense, healthcare & life sciences, and retail & consumer goods through post-warranty services and system upgrades. MVSS companies also specialize in sales & marketing, financial & accounting, and supply chain management for business activities. The market emphasizes investment pockets and collaboration to enhance business activities and adapt core functions from old to new systems.
Furthermore, the market encompasses a diverse range of services crucial for modern businesses. From audit and support contracts to managing old equipment and fostering agreements and collaborations, MVSS plays a pivotal role in optimizing operations. British Telecommunication provides robust endpoint protection solutions within the MVSS landscape, ensuring data security across networks. Services like hybrid cloud recovery and cloud migration facilitate seamless transitions to cloud environments while mitigating risks. MVSS offerings extend to business continuity software and PC as a Service, reducing upfront capital costs and offering premier support for computing assets. Hardware and software monitoring services are integral, especially with the proliferation of IoT (Internet of Things) devices requiring constant supervision.
Multi Vendor Support Services Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.05% |
Market growth 2023-2027 |
USD 12.26 billion |
Market structure |
Fragmented |
YoY growth (%) |
2.67 |
Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
Performing market contribution |
North America at 36% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abtech Technologies, Clear Technologies Inc., Dell Technologies Inc., Dynamic Systems Inc., Dynamic Systems, Inc, FURUKAWA Co Ltd, Hitachi Ltd., HP Development Co. LP, International Business Machines Corp., Macquarie Group Ltd., Microsoft Corp., NetApp Inc., Oki Electric Industry Co. Ltd., Park Place Technologies LLC, Service Express LLC, TERiX International, XS International Inc., Zensar Technologies Ltd., AT and T Inc., and Citrix Systems Inc. |
Market dynamics |
Parent market growth analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Service
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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