Multi Vendor Support Services Market to Grow by USD 10.07 Bn| Rapid Changes in the IT Infrastructure will Present Significant Growth Opportunities for Market Vendors | Technavio

NEW YORK, Jan. 13, 2022 /PRNewswire/ -- The multi vendor support services market is expected to grow by USD 10.07 bn from 2021 to 2026, as per Technavio's market research report. In addition, a healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 3.51%. 

Attractive Opportunities in Multi Vendor Support Services Market by Service and Geography - Forecast and Analysis 2022-2026

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Drivers and Challenges
The market is driven by rapid changes in the IT infrastructure. The size, as well as the complexities of IT infrastructure, are increasing rapidly. This is because of the increase in computing needs, which are met by larger and improved network and server and storage equipment. Moreover, many organizations are digitalizing their operations using the cloud, container, IoT, and other technologies to meet the new and growing demands of business functions. Moreover, organizations are progressively using MVSS to manage and maintain their infrastructure due to the shifting technological landscape. All these factors are driving the growth of the multi vendor support services market globally.

The high implementation and maintenance costs may impede the growth of the multi vendor support services market during the forecast period. The high cost of deploying multi vendor support services is one of the major challenges faced by the market for SMEs. The price of the multi vendor support services includes the system design and customization cost, implementation cost, training, and maintenance cost. The implementation of the support services in an organization requires IT staff who have the relevant skillset. In addition, the implementation of multi vendor support services needs planning, adequate funding, cooperation, and a clear vision at all managerial levels. Enterprises also have to train their employees on using multi vendor support services. Thus, these factors can lead to an increase in the cost of implementation of the multi vendor support services. This can adversely affect the adoption of these services among the end-user industries such as IT, sales and marketing, and others.

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Major Multi Vendor Support Services Companies:

  • AT and T Inc.
  • Dell Technologies Inc.
  • FURUKAWA Co. Ltd.
  • Hitachi Ltd.
  • HP Inc.
  • International Business Machines Corp.
  • Microsoft Corp.
  • Service Express LLC
  • XS International Inc.
  • Zensar Technologies Ltd.

Multi Vendor Support Services Market Service Outlook (Revenue, USD bn, 2021-2026)

  • Hardware - size and forecast 2021-2026
  • Software - size and forecast 2021-2026

Multi Vendor Support Services Market Geography Outlook (Revenue, USD bn, 2021-2026)

  • North America - size and forecast 2021-2026
  • APAC - size and forecast 2021-2026
  • Europe - size and forecast 2021-2026
  • MEA - size and forecast 2021-2026
  • South America - size and forecast 2021-2026

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Multi Vendor Support Services Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 3.51%

Market growth 2022-2026

USD 10.07 billion

Market structure

Fragmented

YoY growth (%)

2.88

Regional analysis

North America, APAC, Europe, MEA, and South America

Performing market contribution

APAC at 38%

Key consumer countries

US, China, UK, Germany, and Japan

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

AT and T Inc., Dell Technologies Inc., FURUKAWA Co. Ltd., Hitachi Ltd., HP Inc., International Business Machines Corp., Microsoft Corp., Service Express LLC, XS International Inc., and Zensar Technologies Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, 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.

About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
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Email: media@technavio.com
Website: www.technavio.com/

Technavio (PRNewsfoto/Technavio)

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