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Multi-Vendor Support Services Market Research Report Information By Service Type (Hardware & Software), By Application (Sales & Marketing, Financial & Accounting, Supply Chain Management, Human Resource, IT Operations & Others), By Organization Size (Large Enterprises, Small & Medium-sized Enterprises (SMEs)), By Industry Vertical (Banking, Financial Services & Insurance (BFSI), Government & Defense, Retail & Consumer Goods, Healthcare, Telecom & IT Manufacturing, Energy & Utilities, Media & Entertainment) & Region –Industry Forecast 2032


ID: MRFR/SEM/5734-HCR | 100 Pages | Author: Shubham Munde| April 2024

Global Multi-Vendor Support Services Market Overview:


Multi-Vendor Support Services Market Size was valued at USD 46.8 Billion in 2022. The Multi-Vendor Support Services Market industry is projected to grow from USD 48.4 Billion in 2023 to USD 64.3 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.60% during the forecast period (2023 - 2032). Increasing demand for customized and flexible support services to satisfy specific business needs, as well as a greater emphasis on increasing customer experience and satisfaction through proactive and effective IT support services are the key market drivers enhancing the market growth.


Multi-Vendor Support Services Market


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Multi-Vendor Support Services Market Trends




  • Rapid developments in IT infrastructure drive market growth




Market CAGR for multi-vendor support services is being driven by the rapid developments in IT infrastructure. The size and volume of IT infrastructure are growing as a result of rising processing needs being addressed by a larger and better network, as well as server and storage facilities. To satisfy new business functional requirements, organizations are increasingly digitizing their operations by leveraging cloud, container, IoT, and other technologies. Because of the changing technical environment, enterprises are rapidly adopting MVSS to control and preserve their infrastructure. Furthermore, as technology solutions get more complex, businesses are attempting to automate or outsource their non-core functions. MVSS suppliers assist firms in focusing on core business activities by providing services and solutions such as continuous hardware and software tracking, contract audits, equipment and inventory management. MVSS aids in increasing uptime, improving efficiency, and easily transitioning from old to new systems. This will aid in the expansion of the Multi-Vendor services industry.


Multi-Vendor Support Services companies are seizing the opportunity to tackle market issues in order to preserve a smooth working environment. For example, IBM Cloud solutions can assist a firm in making a smooth transition to remote business by providing a flexible, secure cloud and digital services for virtualization, mobility, collaboration, and support. Intelligent network support by IBM Corporation delivers a proactive service approach that helps the user identify problems before they occur and disrupt business activities in remote working conditions, with the assistance of Cisco's extensive knowledge base.


Another driver drives market growth, the increasing demand for proactive monitoring and predictive analytics. Companies are searching for ways to reduce downtime and service interruptions, and proactive monitoring and predictive analytics can assist in identifying and resolving issues before they become major concerns. Multi-vendor support services providers are increasingly providing these capabilities to assist businesses in improving their IT service management processes and lowering the risk of downtime and service disruptions.


As an example, Accenture provides a multi-vendor support services platform with proactive monitoring and predictive analytics. The platform analyzes data from many suppliers using machine learning techniques to identify possible concerns before they become serious issues.


Multi-Vendor Support Services Market Segment Insights:


Multi-Vendor Support Services Service Type Insights


The Multi-Vendor Support Services Market segmentation, based on Service Type includes Hardware and software. The Hardware category is predicted to have a larger market share because it helps organizations keep on top of their equipment support and maintenance by providing post-warranty services, prolonging product life, and providing system upgrades and patches. Preventive and corrective services provided by hardware support services include online contract maintenance and per-incident repair, telephonic technical troubleshooting and setup assistance, and hardware warranty upgrades. Furthermore, an increase in demand for a higher level of services is likely to boost the expansion of this market.


Multi-Vendor Support Services Application Insights


The Multi-Vendor Support Services Market segmentation, based on Application, includes sales & marketing, financial & accounting, supply chain management, human resource, IT operations, production and others. In 2022, the sales and marketing category dominated the market with a market share of around 34%. The sales and marketing department of the corporation selects where to sell and how much to charge. This entails the corporation making a decision on the use of intermediaries. Sales and marketing divisions are critical to the success of any business. They are linked and serve as a catalyst for creating revenue, which is the primary goal and a prerequisite to keep the firm running. Sales are responsible for converting prospective customers into paying customers, whereas marketing is responsible for increasing awareness of a company's products and services.


Multi-Vendor Support Services Organization Size Insights


The Multi-Vendor Support Services Market is divided into three segments based on organization size: Large Enterprises, Small and Medium-sized Enterprises (SMEs), and Individuals. The small and medium-sized enterprise (SMEs) segment is likely to increase rapidly during the forecast period. Because small and medium-sized businesses have a lower rate of adoption in today's market, they face a larger resource turning point than large businesses.


Figure1: Multi-Vendor Support Services Market, by Organization Size, 2022 & 2032 (USD Billion)


Multi-Vendor Support Services Market, by Organization Size, 2022 & 2032


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Multi-Vendor Support Services Industry Vertical Insights


The Multi-Vendor Support Services Market segmentation, based on industry vertical, includes banking, financial services & insurance (BFSI), government & defense, retail & consumer goods, healthcare & life sciences, telecom & IT manufacturing, travel & logistics, energy & utilities, media & entertainment and others. In 2022, the telecom and IT manufacturing segment led the market, accounting for around 26% of the total. Telecommunications provides technology-assisted communication, whereas information technology is the exchange of data via computers. The quick speed of change and upgrade in the telecom and IT sectors has raised the need for market participants to remain competitive with new goods, software, technologies, systems, and hardware. Focusing on core R&D, product innovation, and constant technical upgradation is critical for maintaining a competitive advantage in the market.


Multi-Vendor Support Services Regional Insights


By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America now controls the majority of the Multi-Vendor Support Services Market. The expanding presence of technology providers is the key driver of growth for the North American regional segment. To remain competitive on a regional and global scale, these firms are focusing on partnerships, mergers and acquisitions, and offering innovative solutions.


Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.


Figure2: Multi-Vendor Support Services Market SHARE BY REGION 2022 (USD Billion)


Multi-Vendor Support Services Market SHARE BY REGION 2022


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Europe Multi-Vendor Support Services Market accounts for the second-largest market share. The region has a well-developed IT infrastructure as well as a big number of small and medium-sized businesses that demand multi-vendor support services. Further, the German Multi-Vendor Support Services Market held the largest market share, and the UK Multi-Vendor Support Services Market was the fastest growing market in the European region


The Asia-Pacific Multi-Vendor Support Services Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to because of rising competition and rapid economic growth in developing countries such as China and India. Moreover, China’s Multi-Vendor Support Services Market held the largest market share, and the Indian Multi-Vendor Support Services Market was the fastest growing market in the Asia-Pacific region.


Multi-Vendor Support Services Key Market Players& Competitive Insights


Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Multi-Vendor Support Services Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Multi-Vendor Support Servicesindustry must offer cost-effective items.


Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Multi-Vendor Support Services industry to benefit clients and increase the market sector. In recent years, the Multi-Vendor Support Services industry has offered some of the most significant advantages to medicine. Major players in the Multi-Vendor Support Services Market, including IBM (US), HP (US), Dell (US), Microsoft (US), Fujitsu (Japan), NEC (Japan), Hitachi (Japan), Lenovo (Hong Kong), NetApp (US) and others, are attempting to increase market demand by investing in research and development operations.


DXC Technology is a worldwide American information technology (IT) services and consulting firm based in Ashburn, Virginia. DXC Technology was formed on April 3, 2017 when the Enterprise Services business segment of Hewlett Packard Enterprise amalgamated with Computer Sciences Corporation. The firm offered business-to-business IT services. In 2019, DXC Technology has announced the release of DXC Bionix, a new multi-vendor IT support platform. The platform automates IT support operations and improves service delivery by utilizing artificial intelligence and machine learning.


HCL Technologies Limited HCLTech is a global Indian information technology (IT) services and consulting firm based in Noida. Shiv Nadar is the company's founder. When HCL entered the software services market in 1991, it became an independent firm. The corporation employs about 225,944 people and has offices in 52 countries. In 2020, HCL Technologies has announced the acquisition of Cisco's SON technology in order to strengthen its multi-vendor support services capabilities. HCL is able to deliver end-to-end support services for multi-vendor networks because to SON technology, which includes proactive monitoring, fault detection, and speedy problem resolution.


Key Companies in the Multi-Vendor Support Services market include




  • IBM (US), 




  • HP (US)




  • Dell (US), 




  • Microsoft (US)




  • Fujitsu (Japan)




  • NEC (Japan)




  • Hitachi (Japan)




  • Lenovo (Hong Kong)




  • NetApp (US)




  • Abtech Technologies (US)




Multi-Vendor Support Services Industry Developments


April 2020, Fenergo and IBM Corporation signed an OEM agreement under which both firms will work on the development of criminal solutions for the BFSI sector. The key goal for both companies is enabling clients that use the Fenergo platform through IBM to have access to a variety of extra support services, such as IT support, system developers, predictive analytics, and multi-vendor processing.


June 2020, Ribbon Communications revealed that ECI, which recently merged with Ribbon, successfully participated in a variety of 5G tests during the EANTC's interoperability showcase. Ribbon demonstrated multi-vendor interoperability testing of sophisticated transport aspects of 5G networks during the event. This newly established multi-vendor solution will assist the organization in gaining a competitive advantage in the industry.


Multi-Vendor Support Services Market Segmentation:


Multi-Vendor Support Services Market By Service Type Outlook




  • Hardware




  • Software




Multi-Vendor Support Services Market By Application Outlook




  • Sales & Marketing




  • Financial & Accounting




  • Supply Chain Management




  • Human Resource




  • IT Operations




  • Production




  • Others.




Multi-Vendor Support Services Market By Organization Size Outlook




  • Large Enterprises




  • Small & Medium-sized Enterprises (SMEs)




Multi-Vendor Support Services Market By Industry Vertical Outlook




  • Banking, Financial Services & Insurance (BFSI)




  • Government & Defense




  • Retail & Consumer Goods




  • Healthcare & Life Sciences




  • Telecom & IT Manufacturing




  • Travel & Logistics




  • Energy & Utilities




  • Media & Entertainment






  • Others




Multi-Vendor Support Services Regional Outlook




  • North America







    • US




    • Canada







  • Europe







    • Germany




    • France




    • UK




    • Italy




    • Spain




    • Rest of Europe







  • Asia-Pacific







    • China




    • Japan




    • India




    • Australia




    • South Korea




    • Australia




    • Rest of Asia-Pacific







  • Rest of the World







    • Middle East




    • Africa




    • Latin America




Report Attribute/Metric Details
Market Size 2022 USD 46.8 Billion
Market Size 2023 USD 48.4 Billion
Market Size 2032 USD 64.3 Billion
Compound Annual Growth Rate (CAGR) 3.60% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Service Type , Application, Organization Size, Industry Vertical and Region
Geographies Covered North America, Europe, AsiaPacific, and the Rest of the World
Countries Covered The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled IBM (US), HP (US), Dell (US), Microsoft (US), Fujitsu (Japan), NEC (Japan), Hitachi (Japan), Lenovo (Hong Kong), NetApp (US), Abtech Technologies (US), and others
Key Market Opportunities Increase in Technology
Key Market Dynamics Increasing the use of new and advanced ICT tools and systems.


Frequently Asked Questions (FAQ) :

The Multi-Vendor Support Services Market size was valued at USD 46.8Billion in 2022.

The global market is projected to grow at a CAGR of 3.60% during the forecast period, 2023-2032.

North America had the largest share in the global market

The key players in the market are IBM (US), HP (US), Dell (US), Microsoft (US), Fujitsu (Japan), NEC (Japan), Hitachi (Japan), Lenovo (Hong Kong), NetApp (US).

The sales and marketing category dominated the market in 2022.

The hardware had the largest share in the global market.

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