At 18.2% CAGR, Asia Pacific IT Management as a Service Market is Projected to be Worth US$ 10,649.86 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific IT management as a service market was valued at US$ 2,792.55 million in 2023 and is expected to reach US$ 10,649.86 million by 2031, registering a CAGR of 18.2% from 2023 to 2031. Rising demand for remote work culture and increasing complexity of IT infrastructure are among the critical factors attributed to drive the Asia Pacific IT management as a service market growth.

IT infrastructure includes the hardware, software, networks, and related services needed to run an organization's IT activities. This comprises data centers, servers, routers, computing platforms, and other components. To manage IT infrastructure, there is a need to properly plan, maintain, and optimize these resources to ensure their flawless operation. In addition, due to rapid advancements in software, there is an increase in the complexity of the IT infrastructure, which is further necessitating security and compatibility. In the meantime, with the growing amount of data generation, there is a rise in the need to manage data effectively. Ineffective data management can lead to data loss, higher expenses, and decreased productivity. Furthermore, as businesses seek to optimize their operations, they frequently turn to the appeal of cloud infrastructure. However, integrating cloud solutions with current infrastructure can be difficult and needs careful planning to prevent problems. Also, there is a growing demand for automation to increase the organization's productivity. However, implementing automation technologies and processes necessitates a strategic approach to ensure that they align with an organization's objectives. Thus, the growing software advancements, increasing integration of cloud infrastructure, and growing adoption of automation technology are increasing the complexity of IT infrastructure, which poses a challenge for various organizations. To address this problem, various organizations are moving to ITMaaS providers as they help manage and maintain IT infrastructure and systems for their clients, with the goal of preventing problems before they occur. Thus, the increasing complexity of IT infrastructure is fueling the growth of the IT management as a service market.

On the contrary, growing data privacy and security concerns hampers the growth of Asia Pacific IT management as a service market.

Based on application, the Asia Pacific IT management as a service market is segmented into system and network monitoring, compliance and security management, asset management, infrastructure performance management, configuration and change management, and others. The system and network monitoring segment held 24.5% market share in 2023, amassing US$ 684.88 million. It is projected to garner US$ 2,702.23 million by 2031 to register 18.7% CAGR during 2023–2031.

In terms of enterprise size, the Asia Pacific IT management as a service market is bifurcated into large enterprises and SMEs. The large enterprises segment held 69.0% share of Asia Pacific IT management as a service market in 2023, amassing US$ 1,926.86 million. It is anticipated to garner US$ 7,458.90 million by 2031 to expand at 18.4% CAGR during 2023–2031.

By end user, the Asia Pacific IT management as a service market is divided into IT and telecom, BFSI, healthcare and life sciences, manufacturing, higher education, retail, energy and utilities, non profit, and others. The IT and telecom segment held 28.9% share of Asia Pacific IT management as a service market in 2023, amassing US$ 806.31 million. It is projected to garner US$ 3,107.70 million by 2031 to expand at 18.4% CAGR from 2023 to 2031.

Based on country, the Asia Pacific IT management as a service market is categorized into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 26.8% share of Asia Pacific IT management as a service market in 2023. It was assessed at US$ 749.30 million in 2023 and is likely to hit US$ 3,393.14 million by 2031, registering a CAGR of 20.8% during 2023–2031.

Key players operating in the Asia Pacific IT management as a service market are Cisco Systems Inc, Cognizant Technology Solutions Corp, Wipro Ltd, Amazon Web Services Inc, International Business Machines Corp, Fujitsu Ltd, Persistent Systems Ltd, BMC Software Inc, HCL Technologies Ltd, Hewlett Packard Enterprise Co, Capgemini SE, Atos Se, Kyndryl Holdings Inc, Avanade Inc, Thrive Operations LLC, Rimini Street Inc, and Neudesic, LLC. among others.

• In 2021, Capgemini announced that it has been named a Leader by Everest Group in its IT Managed Security Services (MSS) PEAK Matrix Assessment 2021. Capgemini was recognized among 28 IT service providers evaluated by Everest Group for this assessment. It was positioned as a leader for its artificial intelligence/machine learning cyber defense operations, investments in cyber experience centers, an operational technology (OT) security portfolio, and a strong innovation roadmap.
• In 2024, HCL, one of the leading global technology companies, emerged as the fastest-growing IT services brand with +15.9% YoY growth in brand value among the top 10 IT companies globally, as per the 2024 Brand Finance Global 500 and IT Services Top 25 Report released in Davos.

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