Multi-Vendor Support Services Market Research Report – Global Forecast till 2027

Multi-Vendor Support Services Market Research Report, By Service Type (Hardware and Software), Business Application, Organization Size, Industry Vertical (BFSI, Government and Defense, Retail and Consumer Goods, Telecom and IT) — Forecast till 2027

ID: MRFR/SEM/5734-HCR | February 2021 | Region: Global | 100 pages

Multi-Vendor Support Services Market

The Multi-Vendor Support Services Market size will touch USD 62.57 billion at a 3.6% CAGR in the forecast period 2020-2027.

Segmentation

Based on the Service Type Hardware Software
Based on the Business Application Sales and Marketing Financial and Accounting Supply chain management Human Resource IT Operations Production Others
Based on the Organization Size Large Enterprises Small and Medium-sized Enterprises (SMEs).
Based on the Industry Vertical Banking Financial Services and Insurance (BFSI) Government and Defense Retail and Consumer Goods Healthcare and Life Sciences Telecom and IT Manufacturing Travel and Logistics Energy and Utilities Media and Entertainment Others
Based on the Region North America Europe Asia-Pacific and Rest of the World (RoW)

Key Players

  • IBM (US)
  • HP (US)
  • Dell (US)
  • Microsoft (US)
  • Fujitsu (Japan)
  • NEC (Japan)
  • Hitachi (Japan)
  • Lenovo (Hong Kong)
  • NetApp (US)
  • and Abtech Technologies (US)

Drivers

  • Strong need to keep business processes operative and achieve 100% uptime. Increasing adoption of new and advanced ICT tools and systems.
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Multi-Vendor Support Services Market Overview


The Multi-Vendor Support Services Market Size was estimated at USD 52.34 Billion during the historic Forecast period and is expected to reach USD 62.57 Billion during the Multi-Vendor Support Services Market Forecast period ending in 2027 at a CAGR of 3.6%. Professional services supplied to client companies for products created and deployed at the client's location by the service provider as well as products manufactured by other firms are included in multi-vendor support services. This allows businesses to concentrate all of their service needs and eliminate the need to rely on various service providers to troubleshoot IT infrastructure issues. Furthermore, the Multi-Vendor Support Services Industry is a constantly evolving field. Enterprises are constantly investing heavily in emerging Multi-Vendor Support Services Market Share, such as cloud and IoT, to increase the efficiency of their business operations and better serve their consumers. Due to a lack of technical experience, businesses are increasingly turning to Multi-Vendor Support Services Market to help them design and run best-of-breed digital solutions for business operations including sales and marketing, finance and accounting, human resources, and supply chain management. This will help in expanding the Multi-Vendor Support Services Share.


COVID 19 Analysis


The outbreak of the COVID-19 pandemic has had a substantial influence on virtually every business in the world. Furthermore, lockdown enforcement and restrictions on the passage of non-essential commodities and resources in numerous countries have disrupted the supply chain for electronic components and networking equipment. As a result, the delivery of electronic components required to manufacture network equipment has been delayed. Remote working was on the rise at the time of the COVID-19 outbreak. Multi-Vendor Support Services Market Opportunities are seizing the chance to solve enterprise problems and maintain a productive working environment. IBM Cloud solutions, for example, can assist a company in making a smooth transition to remote business by providing a flexible, secure cloud as well as digital services for virtualization, mobility, collaboration, and support. IBM Corporation's intelligent network assistance presents a proactive support model in the remote working environment, using Cisco's in-depth knowledge base to help the user discover problems before they occur and disrupt company operations. This helps in increasing the Multi-Vendor Support Services Industry Share even during the pandemic time.


Market Dynamics



  • Drivers


The rising use of new and advanced ICT tools and systems, as well as the strong requirement to keep business processes operational and achieve 100 percent uptime, are the major driving forces for the expansion of the Multi-Vendor Support Services Industry globally. The Multi-Vendor Support Services Market Trends is being driven by rapid changes in IT infrastructure. Rising OEM service maintenance costs also contribute to Multi-Vendor Support Services Market Opportunities. Multi-Vendor Support Services lessen the complexity of IT support and maintenance. It regained control of infrastructure support previously provided by OEMs.



  • Restraints


Security and privacy issues, as well as strong competition caused by the enormous number of service providers on the market, are limiting industry growth and Multi-Vendor Support Services Market Demand. The loss of control over IT assets is a major impediment in the Multi-Vendor Support Services Market. The market is also hampered by concerns about the sharing of proprietary data, as well as privacy and security risks which reduce the Multi-Vendor Support Services Market Demand.



  • Technology Analysis


Due to increased computational needs, which are addressed by a larger and better network, as well as server and storage equipment, the size and complexity of IT infrastructure are fast-growing. To satisfy the growing demands of business tasks, organizations are increasingly digitizing their operations using the cloud, container, IoT, and other technologies. According to Cisco's Cloud Index, around 68 percent of enterprises use some type of cloud. Organizations are progressively using Multi-Vendor Support Services to monitor and maintain their infrastructure as the technology landscape changes. Additionally, as technology solutions get more complicated, businesses are attempting to automate or outsource non-core functions. Multi-Vendor Support Services suppliers assist firms in concentrating on their core business activities by providing services and solutions such as continuous hardware and software monitoring, auditing current support contracts, equipment, and inventory management. Multi-Vendor Support Services aid in increasing uptime, increasing efficiency and ensuring a smooth transfer from old to new systems during the Multi-Vendor Support Services Market Forecast.


Segment Overview


The Multi-Vendor Support Services Market has been bifurcated into various segments that will help the market to achieve the highest CAGR during the forecast period. The Multi-Vendor Support Services Industry Key Players have played a major role in supporting the segments. The segmentation is as follows:


Based on the Service Type



  • Hardware

  • Software


Based on the Business Application



  • Sales and Marketing

  • Financial and Accounting

  • Supply chain management

  • Human Resource

  • IT Operations

  • Production

  • Others


Based on the Organization Size



  • Large Enterprises

  • Small and Medium-sized Enterprises (SMEs).


Based on the Industry Vertical



  • Banking, Financial Services, and Insurance (BFSI)

  • Government and Defense

  • Retail and Consumer Goods

  • Healthcare and Life Sciences

  • Telecom and IT

  • Manufacturing

  • Travel and Logistics

  • Energy and Utilities

  • Media and Entertainment

  • Others


Based on the Region



  • North America

  • Europe

  • Asia-Pacific(APAC)

  • Rest of the World (RoW)


Regional Analysis


During the projected period, North America is expected to dominate the Multi-Vendor Support Services market. In terms of the development and acceptance of novel technologies in the realm of information and communication technology, the North American region is considered to be the most advanced (ICT). The multi-vendor support services market, notably in the BFSI, retail, and consumer goods industries, offers tremendous revenue potential in the region. During the projection period, the United States is likely to be the leading country in the multi-vendor support services industry in North America. Asia-Pacific is expected to increase at the fastest rate as per the forecast. The expansion of multi-vendor support services in the APAC region is predicted to be boosted by increasing digitization in the industrial verticals of BFSI, IT, and telecom. In terms of market share, China, Japan, and India have dominated the APAC area, and this trend is projected to continue in the coming years.


Competitive Landscape


The presence of many global, regional, and local suppliers characterizes the global multi-vendor support services industry. The market is competitive, with all players clamoring for a piece of the pie. Partnership and collaboration are the most common strategies used by leading service providers to acquire a competitive advantage in the market. In the global multi-vendor support services industry, service augmentation is the second most popular technique. Multi-Vendor Support Services Market Key Players are IBM (US), HP (US), Dell (US), Microsoft (US), Fujitsu (Japan), NEC (Japan), Hitachi (Japan), Lenovo (Hong Kong), NetApp (US), Ribbon Communications (US), and Abtech Technologies (US).


Recent Developments



  • Fenergo and IBM Corporation have signed an OEM agreement that will see the two companies work together to develop criminal solutions for the BFSI sector. Customers who use the Fenergo platform through IBM will have access to a variety of extra support services, including IT support, system developers, predictive analytics, and multi-vendor processing, according to both companies' goals.

  • During the projected period, the Small and Medium-sized Enterprises (SMEs) category is expected to increase at a faster CAGR. Because SMEs have a lower rate of adoption in the current market scenario, they confront a higher resource shortage than major corporations.

  • Ribbon Communications stated that ECI, which recently merged with Ribbon, was a successful participant in a variety of 5G tests during the EANTC's interoperability demonstration. Ribbon demonstrated multi-vendor interoperability testing of sophisticated transport elements of 5G networks at the event. This newly established multi-vendor solution will assist the organization in gaining a competitive advantage in the industry.


Report Overview


The income earned by Original Equipment Manufacturers (OEMs), Third-Party Maintenance (TPM) service providers, and System Integrators (SIs) supplying full or partial support services for business applications and verticals is included in the global Multi-Vendor Support Services Market size. Furthermore, revenues from managed services, professional services, and Business Process Outsourcing (BPO) services are included in the Market's overall revenue. The revenue of hardware and software Multi-Vendor Support Services providers is used to calculate the global market size. The study includes the most accurate revenue estimates for the entire market and segments. The market is further segmented by service kinds, business applications, company size, verticals, and countries. The paper examines the market’s drivers, restrictions, and technologies.



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 62.57 Billion
  CAGR   3.6%
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Service Type, Business Application, Organization Size, Industry Vertical
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   IBM (US), HP (US), Dell (US), Microsoft (US), Fujitsu (Japan), NEC (Japan), Hitachi (Japan), Lenovo (Hong Kong), NetApp (US), and Abtech Technologies (US)
  Key Market Opportunities   The surge in demand for digital technologies for its business functions is predicted to transform the multi-vendor support services market size.
  Key Market Drivers

  • Strong need to keep business processes operative and achieve 100% uptime.
  • Increasing adoption of new and advanced ICT tools and systems.


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    Frequently Asked Questions (FAQ) :

    The Global Market is expected to grow at a CAGR of 3.6% by the end of the forecast period in 2027.

    The expected valuation of the Global market is USD 62.57 Billion during the forecast period.

    The segments involved are service type, business application, organization size, industry vertical, and regions/country.