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The MultiVendor Support Services MVSS market is expected to grow at a Compound Annual Growth Rate CAGR of 2.52% during the forecast period
The global MVSS market size is expected to grow from USD 53.09 billion in 2018 to USD 60.14 billion by 2023, at a Compound Annual Growth Rate CAGR of 2.52% during the forecast period. Major growth factors for the market include the rapidly increasing changes in the IT infrastructure, rising maintenance costs of Original Equipment Manufacturer OEM services, reducing IT support and maintenance complexities, and regaining control of infrastructure support from OEMs. However, the loss of control over IT assets, concerns over sharing of proprietary data, and privacy and security issues may restrain the market growth.
The hardware support services segment to hold a larger market size during the forecast period
Hardware support services are preemptive and corrective services that help physically repair or optimize hardware, which includes contract maintenance and perincident repair. These support services comprise remote and onsite desktop, server, and storage support. Furthermore, they also include online and telephone technical troubleshooting and assistance for setup, and all feebased hardware warranty upgrades. The hardware support services segment is expected to hold a higher market share in the MVSS market. The growth of this market is fuelled by the increase in demand for a new level of support services in this market.
The sales and marketing segment to hold the largest market size during the forecast period
IT applications help optimize enterprises' marketing and sales distribution activities. Organizations are using Customer Relationship Management CRM software solutions and other associated services to manage customers and prospects, send emails, make calls, and manage pipelines, among others. Furthermore, the marketing activities have changed considerably over the last decade, as organizations are focusing on digital marketing and using advanced analytics to find customer preferences and market trends. Enterprises are digitizing this business application and MVSS are helpful in increasing the efficiency of these organizations by reducing downtime, increasing life of devices, managing software updates and patches, and maintaining the IT infrastructure with the help of services such as proactive reporting and analytics, remote advisory, and proactive maintenance services.
Asia Pacific APAC to grow at the highest CAGR during the forecast period
APAC is expected to grow at the highest CAGR during the forecast period. The increasing global competition and high economic growth in the emerging countries, such as China and India, are boosting the growth of the MVSS market in APAC. The technological landscape of APAC is heavily dependent on technological innovations. Therefore, organizations are rapidly adopting MVSS to increase the efficiency of overall infrastructure, and reduce the maintenance and support service costs.
In the process of determining and verifying the market size of several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The breakup of the profiles of the primary participants is as follows:
By Company: Tier 1 30 %, Tier 2 40%, and Tier 3 30%
By Designation: CLevel 72%, Director Level 14%, and Others 14%
By Region: North America 57%, Europe 14%, and APAC 29%
The MVSS market includes major vendors, such as IBM US, Dell US, HP US, Oracle US, Fujitsu Japan, NEC Japan, Symantec US, Hitachi Japan, and Lenovo China.
The report includes an indepth competitive analysis of the key players in the MVSS market, along with their company profiles, recent developments, and key market strategies. It segments the MVSS market by service type, business application, organization size, vertical, and region.
Reasons to buy the Report:
The MVSS market is segmented on the basis of service types, business applications, organization size, verticals, and regions. The report would help the market leaders/new entrants in the MVSS market in the following ways:
1. The global MVSS market size includes the revenues generated by Original Equipment Manufacturers OEMs, ThirdParty Maintenance TPM service providers, and System Integrators SIs offering full or partial support services for business applications and verticals. Moreover, the overall revenue of the MVSS market includes the revenues generated from managed services, professional services, and Business Process Outsourcing BPO services. The global market size is arrived at considering the revenues of hardware and software MVSS providers. The report provides the closest approximations of the revenue numbers for the overall market and its subsegments. The market numbers are further divided into service types, business applications, organization size, verticals, and regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.
3. The report would help stakeholders understand their competitors and gain more insights to improve their market positions. The competitive landscape section includes competitors' ecosystem, new product developments, partnerships, and mergers and acquisitions.
Original Article: MultiVendor Support Services Market by Service Type Hardware and Software Support Services, Business Application Sales and Marketing, Financial and Accounting, Supply Chain, and IT Operations, Vertical, and Region Global Forecast to 2023 [Report Updated:NEXT ARTICLE
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