NEW YORK, Jan. 13, 2022 /PRNewswire/ -- The multi vendor support services market is expected to grow by USD 10.07 bn from 2021 to 2026, as per Technavio's market research report. In addition, a healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of 3.51%.
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Read the 120-page report with TOC on "Multi Vendor Support Services Market Analysis Report by Service (hardware and software) and Geography (North America, APAC, Europe, MEA, and South America), and the Segment Forecasts,2022-2026".
Drivers and Challenges
The market is driven by rapid changes in the IT infrastructure. The size, as well as the complexities of IT infrastructure, are increasing rapidly. This is because of the increase in computing needs, which are met by larger and improved network and server and storage equipment. Moreover, many organizations are digitalizing their operations using the cloud, container, IoT, and other technologies to meet the new and growing demands of business functions. Moreover, organizations are progressively using MVSS to manage and maintain their infrastructure due to the shifting technological landscape. All these factors are driving the growth of the multi vendor support services market globally.
The high implementation and maintenance costs may impede the growth of the multi vendor support services market during the forecast period. The high cost of deploying multi vendor support services is one of the major challenges faced by the market for SMEs. The price of the multi vendor support services includes the system design and customization cost, implementation cost, training, and maintenance cost. The implementation of the support services in an organization requires IT staff who have the relevant skillset. In addition, the implementation of multi vendor support services needs planning, adequate funding, cooperation, and a clear vision at all managerial levels. Enterprises also have to train their employees on using multi vendor support services. Thus, these factors can lead to an increase in the cost of implementation of the multi vendor support services. This can adversely affect the adoption of these services among the end-user industries such as IT, sales and marketing, and others.
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Major Multi Vendor Support Services Companies:
AT and T Inc.
Dell Technologies Inc.
FURUKAWA Co. Ltd.
International Business Machines Corp.
Service Express LLC
XS International Inc.
Zensar Technologies Ltd.
Multi Vendor Support Services Market Service Outlook (Revenue, USD bn, 2021-2026)
Hardware - size and forecast 2021-2026
Software - size and forecast 2021-2026
Multi Vendor Support Services Market Geography Outlook (Revenue, USD bn, 2021-2026)
North America - size and forecast 2021-2026
APAC - size and forecast 2021-2026
Europe - size and forecast 2021-2026
MEA - size and forecast 2021-2026
South America - size and forecast 2021-2026
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Multi Vendor Support Services Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 3.51%
Market growth 2022-2026
USD 10.07 billion
YoY growth (%)
North America, APAC, Europe, MEA, and South America
Performing market contribution
APAC at 38%
Key consumer countries
US, China, UK, Germany, and Japan
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
AT and T Inc., Dell Technologies Inc., FURUKAWA Co. Ltd., Hitachi Ltd., HP Inc., International Business Machines Corp., Microsoft Corp., Service Express LLC, XS International Inc., and Zensar Technologies Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
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