At 13.6% CAGR, Middle East & Africa IT Management as a Service Market is Projected to be Worth US$ 1,607.64 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Middle East & Africa IT management as a service market was valued at US$ 579.10 million in 2023 and is expected to reach US$ 1,607.64 million by 2031, registering a CAGR of 13.6% 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 Middle East & Africa IT management as a service market growth.

Remote work is becoming the new normal for many organizations and has become a phenomenon in recent years, especially after the COVID-19 pandemic. According to Gallup, Inc. report of June 2022, remote work is continuously perceived as positive, with almost 65% of full-time employees ready to work remotely. Working remotely helps employees reduce their traveling and maintain a work-life balance. A study conducted by the National Bureau of Economic Research in January 2023 showed that remote work saved an average of 72 minutes spent by employees on their daily travel to and from their on-site jobs during 2021–2022. Due to all these factors, the demand for remote work is increasing among the employees. To maintain flexibility in working conditions, organizations are working on implementing a remote working model. However, this growing adoption of the remote working model fuels the need to set up new IT infrastructure among organizations. To cater to these needs, various organizations are moving to ITMaaS, as they help organizations manage all their IT operations at low cost, increasing their demand globally. ITMaaS service providers can help organizations take care of sourcing, deployment, and management of routine IT infrastructure.

Their services can cover a variety of aspects of software, hardware, and infrastructure maintenance, including deploying and maintaining IT infrastructure, data backup and recovery, sourcing and supporting software to meet customer’s needs, security monitoring services, and endpoint monitoring and management. Furthermore, ITMaaS can assist an organization in identifying the problem, deploying the ideal remote employee productivity monitoring tool, training managers on how to access productivity data, and understanding the difficulties that arise when employees work from home. Thus, the rising demand for remote work culture is pushing organizations to move toward ITMaaS to implement remote working models, which is boosting the growth of the IT management as a service market.

On the contrary, growing data privacy and security concerns hampers the growth of Middle East & Africa IT management as a service market.

Based on application, the Middle East & Africa 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 31.1% market share in 2023, amassing US$ 180.22 million. It is projected to garner US$ 531.86 million by 2031 to register 14.5% CAGR during 2023–2031.

In terms of enterprise size, the Middle East & Africa IT management as a service market is bifurcated into large enterprises and SMEs. The large enterprises segment held 77.4% share of Middle East & Africa IT management as a service market in 2023, amassing US$ 448.48 million. It is anticipated to garner US$ 1,268.66 million by 2031 to expand at 13.9% CAGR during 2023–2031.

By end user, the Middle East & Africa 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 30.1% share of Middle East & Africa IT management as a service market in 2023, amassing US$ 174.17 million. It is projected to garner US$ 500.16 million by 2031 to expand at 14.1% CAGR from 2023 to 2031.

Based on country, the Middle East & Africa IT management as a service market is categorized into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the UAE captured 39.7% share of Middle East & Africa IT management as a service market in 2023. It was assessed at US$ 229.79 million in 2023 and is likely to hit US$ 693.22 million by 2031, registering a CAGR of 14.8% during 2023–2031.

Key players operating in the Middle East & Africa 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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