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Managed Services Market to Grow by USD 217 Billion (2025-2029), Boosted by Increased Adoption of IoT Solutions, with AI Redefining the Market Landscape – Technavio

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NEW YORK, Jan. 31, 2025 /PRNewswire/ — Report with market evolution powered by AI – The global managed services market size is estimated to grow by USD 217 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of  11.3%  during the forecast period. Increased adoption of IoT solutions is driving market growth, with a trend towards advent of big data and analytics services. However, data privacy and security risks in cloud-based services  poses a challenge. Key market players include Accenture PLC, ALE International, Amazon.com Inc., Atos SE, BMC Software Inc., Capgemini Services SAS, Cisco Systems Inc., Cloudticity LLC, Cognizant Technology Solutions Corp., DXC Technology Co., Fujitsu Ltd., Google LLC, HCL Technologies Ltd., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., Infosys Ltd., International Business Machines Corp., Lumen Technologies Inc., NEC Corp., NTT DATA Corp., Telefonaktiebolaget LM Ericsson, and Verizon Communications Inc..

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Managed Services Market Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 11.3%

Market growth 2025-2029

USD 217 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

10.6

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 37%

Key countries

US, China, India, Canada, Germany, Japan, UK, South Korea, France, and Italy

Key companies profiled

Accenture PLC, ALE International, Amazon.com Inc., Atos SE, BMC Software Inc., Capgemini Services SAS, Cisco Systems Inc., Cloudticity LLC, Cognizant Technology Solutions Corp., DXC Technology Co., Fujitsu Ltd., Google LLC, HCL Technologies Ltd., Hewlett Packard Enterprise Co., Huawei Technologies Co. Ltd., Infosys Ltd., International Business Machines Corp., Lumen Technologies Inc., NEC Corp., NTT DATA Corp., Telefonaktiebolaget LM Ericsson, and Verizon Communications Inc.

Market Driver

Managed Services Market: Trends and Opportunities The Managed Services Market is experiencing significant growth, driven by various trends in technology. Cloud computing is a major trend, with businesses increasingly adopting cloud-based technologies for operational efficiency and cost savings. Cybersecurity is another key trend, as businesses seek to protect their data and IT infrastructure from cyber threats. Data management is also a significant trend, with the rise of big data and the need for businesses to effectively manage and analyze their data. Artificial intelligence (AI) and automation are also popular trends, as they help businesses improve productivity and reduce costs. MSPs (Managed Service Providers) are in high demand, offering services such as network and communication collaboration, mobility, information, application testing, and cloud platform management. The Internet of Things (IoT) is also driving growth in the market, with the need for endpoint management solutions and managed network services. Industries such as retail & consumer goods, healthcare & life sciences, energy & utilities, media & entertainment, and IT services are all investing in managed services to support their digital transformation. IT security professionals are in high demand to help businesses protect their data and IT infrastructure from cyber threats. Cloud-based solutions, such as Software-as-a-Service (SaaS), are becoming increasingly popular, as they offer flexibility and scalability. Hybrid work models are also driving demand for managed services, as businesses look for ways to support their remote workforces. The market for managed services is expected to continue growing, with a focus on industry requirements and consumer needs. IoT technologies, such as robotics and optical instruments, are also expected to drive growth in the market. However, businesses must also be aware of the privacy protection challenges associated with managed services and ensure they are working with trusted providers. Aeries Technology offers a range of managed services, including network infrastructure management, server & device management, computer & helpdesk support, and managed security services. Our team of skilled resources can help businesses improve their operational efficiency, protect their data, and meet their industry requirements. Contact US today to learn more. 

Firms are leveraging analytics services to convert unstructured data from multiple online sources into valuable structured information. Advanced analytical tools like predictive analytics are used to identify patterns in business and consumer behavior. Industries such as finance, telecommunications, and healthcare have benefited from these insights to make informed decisions at the organizational level, enhancing customer service. With the proliferation of data centers and technology, businesses are recognizing the importance of analyzing and utilizing data promptly to gain a competitive edge in cost and time. 

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Market Challenges

Managed Services Market: Overcoming Challenges in Cloud Computing, Cybersecurity, and More Businesses today face numerous challenges in their IT operations, from cloud computing and cybersecurity to data management and digital transformation. Managed Service Providers (MSPs) offer solutions to help companies navigate these complexities. In the cloud era, MSPs provide managed IT services, network services, communication collaboration services, mobility services, information services, application testing, and cloud platform management. Retail & consumer goods, healthcare & life science, energy & utilities, media & entertainment, and other industries require IT security professionals to ensure data security and privacy protection. MSPs help businesses implement cloud-based technologies like AI, IoT, Blockchain, and SaaS, addressing industry requirements and consumer needs. They offer managed network services, managed data center services, managed security services, endpoint management solutions, project & portfolio management, and agile approaches. However, challenges persist. Cyber threats targeting cloud-based solutions and IoT devices require constant monitoring and AIOps analytics. Large enterprises need front-end monitoring, ADTD, and DevOps teams to maintain operational efficiency. Hybrid work models demand skilled resources for IT operations, network infrastructure, server & device management, and computer & helpdesk support. Aeries Technology, specializing in managed services, helps businesses tackle these challenges by providing a comprehensive suite of services, ensuring business productivity, application testing, and IT operations. With expertise in AI, ML, IT security, and IT infrastructure, Aeries Technology is your trusted partner for digital transformation.Cloud-based managed services have gained popularity among businesses due to their cost-effectiveness and flexibility. However, data privacy and security concerns are significant barriers to adoption, particularly in the public cloud. Cloud security management is a complex task for vendors, as online digital files require protection against unauthorized access to the cloud-based IT infrastructure. The public cloud infrastructure, which supports multiple tenants and applications, is more susceptible to vulnerabilities due to the intricacies of open-source code used in its construction. These code patchworks can introduce flaws to cloud systems, increasing the risk of cyberattacks. Organizations must carefully evaluate cloud security measures before transitioning to managed services to mitigate these risks.

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Segment Overview 

This managed services market report extensively covers market segmentation by  

Type 1.1 MDS1.2 MNS1.3 MSS1.4 MMS1.5 OthersDeployment 2.1 Cloud2.2 On-premisesGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 MDS-  The Managed Data Services (MDS) segment dominates the global managed services market due to growing demand from sectors like IT, banking, financial services and insurance (BFSI), education, healthcare, and retail. SMEs in emerging countries such as China, India, Brazil, Indonesia, and Mexico drive the demand for MDS due to the need for cost-effective, reliable storage systems. MDS offers pay-per-use infrastructure, providing similar functionalities as standard data centers but through a managed service platform. The rise in digital data and focus on data security have increased the demand for cloud MDS, which reduces data theft chances and enhances processing power. Key growth drivers include the increasing number of smart connected devices, educational data from online courses, handheld devices, and data analytics for informed business decisions. The MDS market is expected to witness significant growth due to increasing data center implementation by large organizations and cost savings from adopting MDS over building in-house data centers.

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Research Analysis

The Managed Services Market is experiencing significant growth due to the increasing adoption of cloud computing, IoT devices, and digital transformation in various industries. Businesses are seeking Managed Service Providers (MSPs) to manage their IT infrastructure, ensuring operational efficiency and security. Cloud-based technologies, including platforms and applications, are becoming the norm, leading to a higher demand for managed IT services and professional services. Cybersecurity is a top priority, with IT security professionals focusing on data security and application testing to protect against threats. AI and automation are also key areas of investment, with AIOps analytics and ADTD helping to improve front-end monitoring and incident response. Industry requirements and consumer needs are driving the adoption of IoT technologies and cloud-based solutions, while hybrid work models continue to challenge organizations to maintain security and productivity. Blockchain is also gaining traction in the market, offering enhanced security and transparency for data management.

Market Research Overview

The Managed Services Market is witnessing significant growth due to the increasing adoption of cloud computing, cybersecurity, data management, artificial intelligence, automation, and IoT devices in various industries. These technologies are transforming the way businesses operate, leading to the need for Managed Service Providers (MSPs) to offer managed IT services, professional services, and digital transformation solutions. MSPs provide a range of services including network service, communication collaboration service, mobility service, information service, application testing, cloud platform, and managed IT services to ensure business productivity and operational efficiency. They offer cloud-based technologies and IoT solutions to help businesses manage their hybrid work models and address industry requirements and consumer needs. Cybersecurity and data security are critical concerns for businesses, and MSPs offer managed security services, endpoint management solutions, and privacy protection to mitigate cyber threats. The healthcare & life sciences, retail & consumer goods, energy & utilities, media & entertainment, and other industries are adopting managed services to improve their IT operations, network infrastructure, and server & device management. MSPs also offer IT operations services, project & portfolio management, agile approaches, and front-end monitoring to help businesses stay competitive and adapt to the latest industry trends. With the increasing use of AI, ML, SaaS, big data, and other cloud-based solutions, MSPs are providing skilled resources and expertise to help businesses leverage these technologies for growth and innovation.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeMDSMNSMSSMMSOthersDeploymentCloudOn-premisesGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Leap Financial Collaborates with Visa to Digitize Remittances

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Clients Worldwide to Benefit from Streamlined Cross-Border Money Transfers

MIAMI, Feb. 26, 2025 /PRNewswire-HISPANIC PR WIRE/ — Leap Financial, a leading digital remittance company, announced its collaboration with Visa, a global leader in digital payments, to integrate Visa Direct, a global money movement solution, into Leap’s white label digital remittances platform.

This partnership aims to streamline the direct delivery of funds to eligible cards, bank accounts, and digital wallets worldwide, enhancing the efficiency and security of cross-border remittances.

By leveraging Visa Direct, Leap Financial will enable financial and non-financial institutions to offer seamless cross-border remittances without the complexities associated with cash transactions. This collaboration will initially focus on the US and Latin America (LAC) markets, addressing the escalating demand for efficient cross-border money transfers within the $64 billion US-Latin America corridor1.

Lionel Carrasco, CEO of Leap Financial, explained: “From our research, traditional money transmitters charge around 6% in remittance fees due to outdated processes and multiple intermediaries2. With advanced technology, Leap reduces this cost to under 1%, streamlining remittance flows and eliminating inefficiencies. Our collaboration with Visa Direct will further enhance our ability to provide faster, more secure transactions, enabling our partners to offer competitive pricing and direct more funds to recipients.”

Leap Financial’s platform works with federal banks to originate remittances via embeddable solutions, allowing remitters to pay digitally and deliver money to cards and wallets in real-time*. This process offers full know-your-customer (KYC) and anti-money laundering (AML) traceability, creating cost efficiencies and enhancing AML controls for maximum compliance without friction.

To further strengthen their technology stack and enhance the adoption of their solutions, Leap recently introduced Lola, an AI-powered ‘Transactional AI Agent’. Lola is designed to deliver seamless cross-border payment services and provides instant assistance through widely used platforms such as WhatsApp and Telegram, leveraging instant messaging and voice interactions for accessibility and convenience.

According to Leap’s Insight Team, there will be a 40% global decline in cash usage by 20253, driven by the widespread adoption of Unified Payments Interface (UPI) and digital wallets. This shift underscores the importance of digital remittance solutions in fostering financial inclusion and maximizing the impact of each remittance.

About Leap Financial

Leap Financial pioneers the fusion of fintech and transactional AI, enabling businesses to reshape money flows and enhance value for end users through embeddable instant domestic and cross-border payments, transactional AI agents, and co-branded banking services. Committed to fostering inclusivity, their mission is to enable companies to “Leap” forward in today’s dynamic landscape. Take the leap at leapfinancial.com.

*Actual fund availability depends on receiving financial institution and region

Driving-Growth-In-A-Cashless-Future-The-Business-Opportunity-Of-Digital-Remittances – Leap Financial InsightsMigration-Remittances-A-Powerhouse-For-Us-Growth – Leap Financial InsightsGlobal Change Datalab – Leap Financial Insights

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SOURCE Leap Financial

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Sharp Home Appliances Wins Prestigious iF Design Award for the Sharp Celerity™ High-Speed Oven in the Kitchen Appliance Category

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MONTVALE, N.J., Feb. 26, 2025 /PRNewswire/ — Sharp Home Electronics Company of America (SHCA), a leader in innovative kitchen solutions, is proud to announce that the new Sharp Celerity™ High-Speed Oven has been awarded the prestigious iF DESIGN AWARD 2025 in the Kitchen Appliance category. This recognition highlights Sharp’s commitment to delivering cutting-edge technology with exceptional design and functionality, setting new standards for home cooking.

The Sharp Celerity™ High-Speed Oven features advanced technology that can cook a whole chicken, for example, approximately three times faster than a conventional oven*, perfect for a fast-paced lifestyle. Its industry-first Golden Heater** rapidly reaches high temperatures and works with other functions for superior results. With faster cooking and oftentimes no need for preheating, it offers exceptional convenience. Additionally, it includes True European Convection and Microwave Inverter technology, ensuring optimal performance and impressive results.

“We are thrilled and honored to receive the iF DESIGN AWARD for our Sharp Celerity™ High-Speed Oven,” said Jim Sanduski, President of SHCA. “This award is a testament to the hard work, dedication, and creativity of our design and engineering teams. We are continually pushing the boundaries of innovation to meet the evolving needs of modern consumers, and this recognition reinforces our mission to bring smart, efficient and stylish solutions to kitchens.”

With nearly 11,000 entries from 66 countries, the iF DESIGN AWARD 2025 stands as one of the most prestigious design competitions worldwide. Over the course of three dynamic days in Hamburg, the international design community gathered, with 131 jurors from 23 countries carefully selecting the best and most exceptional designs. Sponsored by the non-profit iF Design Foundation, the award underscores the global significance of design, its social impact, and its ability to drive innovation toward a better future.

“The iF DESIGN AWARD emphasizes the revolutionary design of the Sharp Celerity™ High-Speed Oven,” said Peter Weedfald, Senior Vice President of Sales and Marketing, SHCA. “We know that designers, professional chefs and all those who need more time back for their families will be thrilled with the usability, design and features, including its smart connectivity features and built-in preset menus.”

The Sharp Celerity™ High-Speed Oven stood out for its ability to combine advanced technology with user-friendly features and a visually appealing design that seamlessly integrates into modern kitchens.

For more information on the Sharp Celerity™ High-Speed Oven and other innovative products, visit at shop.sharpusa.com.

*Compared with whole chicken (approximately 5.9 lbs) in the Sharp Stainless Steel European Convection Built-In Single Wall Oven (SWA3052DS)

**Electronic cooking appliance with Golden Carbon Heater.

About Sharp Home Electronics Company of America (SHCA) – Montvale, NJ
SHCA is the US Consumer Products Group of Sharp Electronics Corporation, the US sales subsidiary of Sharp Corporation, a worldwide developer and manufacturer of one-of-a-kind premium technology products.  SHCA includes our premium home appliances manufacturing facility in Memphis, TN, together with the sales & marketing, and servicing of home electronics based in Montvale, NJ.  Leading products include Sharp AQUOS® TVs, Sharp Carousel®, Microwave Drawer™ Ovens, SuperSteam+™ ovens, and Plasmacluster® Ion air purifiers.

Sharp Corporation appears on Fortune’s World’s Most Admired Companies for 2025. Sharp Electronics Corporation received a 2024 award for Best Places to Work in NJ. Learn more at www.sharpusa.com.

Sharp, AQUOS, Carousel, Microwave Drawer, SuperSteam+, Plasmacluster, Celerity and all related trademarks are trademarks or registered trademarks of Sharp Corporation and/or its affiliated companies. All other trademarks are the property of their respective owners.

Press Contact: (Sharp)
Kellyn Curtis
kellyn.curtis@peppercomm.com

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SOURCE Sharp Electronics Company of America (SHCA)

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MediaTek Expands Cloud-to-Edge Leadership with Next-Generation Connectivity and AI at MWC 2025

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Showcasing 6G Hybrid Computing Technologies, 5G-Advanced Modem, NR-NTN and Generative AI Gateways

BARCELONA, Spain, Feb. 26, 2025 /PRNewswire/ — At Mobile World Congress 2025, MediaTek is showcasing several key technologies that enable wireless evolution towards 6G, including hybrid computing, a live LEO broadband NR-NTN trial, sub-band full duplex (SBFD), along with the new M90 5G Advanced modem. In addition, the company is also sharing its latest developments in Dimensity Auto and Dimensity Smartphone SoCs. The newest MediaTek-powered devices from some of the world’s leading brands will be on display at their booth in Hall 3.

“We’re pushing forward industry-leading connectivity and AI applications through high-quality products and global standardization, which create significant new opportunities to enrich everyday living for more people around the world,” said Joe Chen, President of MediaTek. “This is exemplified by our most recent developments in leading-edge 6G-era technologies, generative AI hybrid computing, and 5G-Advanced solutions, which will be on display this week.”

Enabling 6G with Integrated Communications & Computing

MediaTek is demonstrating its Hybrid Computing innovation (Integrated Communication & Computing) that brings together a device cloud + RAN as an ‘edge cloud’, a key technology component proposed for upcoming 6G standardization, that extends ambient computing from device to RAN, achieving low latency in activities such as Generative AI (Gen-AI), carrier-grade privacy & personal data governance, and dynamic computing resource scheduling. The implementations are exhibited in collaboration with NVIDIA, Intel and HTC G REIGNS, respectively.  

Ultra Power-Efficient Envelope Assisted RFFE positioned for next-generation wireless products

MediaTek’s Envelope Assisted RFFE System increases power amplifier efficiency by 25%, reducing device heating rate, widening addressable bandwidth by over 100MHz in the same power envelope, and allowing higher power delivery for wider coverage.

Sub-Band Full Duplex for efficient use of 6G spectrum

Sub-Band Full Duplex (SBFD), a key physical layer technology applicable to 5G-Advanced and 6G, will feature unprecedented improvements in unpaired TDD spectrum, significantly boosting uplink coverage and reducing latency. Both factors are key enablers of new services. In cooperation with Keysight, MediaTek is demonstrating a major technological breakthrough: Mitigating self-interference of SBFD, which is particularly problematic in small devices such as smartphones because of the proximity of the transmitting and receiving antennas.

MediaTek M90 5G Advanced Modem

The upcoming M90 5G-Advanced modem will deliver speeds of up to 12Gbps, support for 3GPP-standard Release 17 and the forthcoming Release 18 specifications, simultaneous FR1+FR2 connectivity, and a novel Smart Antenna technology that leverages AI to enable user scenario identification and significantly boosts data throughput. The M90 utilizes MediaTek UltraSave technology, which reduces average power consumption by up to 18% compared to the previous generation modem. During MWC 2025, MediaTek will show it has achieved an industry-leading 10Gbps throughput using FR1 3CC + FR2 8CC using an M90-based device on a live Ericsson network configuration.

Smart AI Antenna

The M90 modem supports Smart AI Antenna, which provides native body proximity sensing without requiring external sensors. The feedback response and intelligent signal analysis can detect how the device is held, as well as its network environment, and it will actively tune the antenna and uplink power to ensure that signal quality is maintained. MediaTek will demonstrate Smart AI Antenna in collaboration with Anritsu at MWC 2025.

Intelligent CPE: Generative AI Gateway

MediaTek is exhibiting its Generative AI infrastructure, consisting of a Gateway and Context Synchronization system. This decentralizes Gen-AI capabilities beyond smartphones and smart home devices, providing Gen-AI functionality to all connected devices. It enhances device capabilities while fostering wider adoption and new service opportunities, all without compromising data privacy and security.

The latest MediaTek-powered CPE devices and modules are also on display from partners. Unique technologies on display include a 1.9x uplink performance boost achieved through three transmission antennas (3TX), applicable across 5G NR band combinations, as well as Low-Latency, Low-Loss, and Scalable throughput (L4S), which reduces network latency by over 20x and minimizes packet loss. These advancements greatly enhance the user experience compared to legacy designs.

Next Generation Satellite (NTN) Connectivity

At the show, MediaTek will present its continuing industry leadership in 5G-Advanced Non-Terrestrial Network (NTN) technology. This next generation of satellite connectivity – Ku-band NR-NTN – will bring a future of ubiquitous broadband connectivity to 5G devices. This follows a recent successful field trial of Ku-band NR-NTN over commercial OneWeb sLow Earth Orbit (LEO) satellite. The field trial was conducted with Eutelsat infrastructure, AIRBUS in-orbit satellites connecting to a MediaTek Ku-band NR-NTN test chip, ITRI NR NTN test gNB, and Sharp array with support by Rodhe & Schwartz testing equipment.

MediaTek Dimensity Auto

With rapid progress in automotive, MediaTek’s Dimensity Auto development platform will be at the show, highlighting its leading capabilities in multimedia, 3D graphics, and AI processing capabilities across multiple virtual machines (VMs) on a hypervisor. The innovative eCockpit features an 8K display, and is developed in collaboration with strategic partners, illustrating what people can expect from next-generation in-vehicle experiences.

MediaTek Dimensity 9400

Various smartphones powered by the flagship Dimensity 9400 5G chip will be showcased, demonstrating their leading-edge Generative and Agentic AI applications and services. The showcase will also include the latest advancements in photography and videography, such as AI Audio Focus, AI Telephoto, Best Snapshot capabilities, AI Depth Engine for video playback, and the newest feature rich games with ray-traced graphics.

224G SerDes for ASIC

MediaTek’s 224G SerDes represents a significant advancement in technology leadership, offering exceptional performance, reliability, and efficiency. This solution is designed to meet the rigorous interconnect demands of AI, hyperscale computing, data centers, and networking infrastructure. Our SerDes expertise is integral to our ASIC offerings, driving the next generation of AI acceleration and many other interconnect applications. MediaTek SerDes solutions empower ASIC customers with advanced process technology that enhances performance and bandwidth density, making them both power-friendly and cost-effective.

These 224G SerDes solutions are silicon-proven, and development of the next-generation SerDes is already underway. MediaTek collaborates with major foundries on the most advanced process nodes, chip-to-chip interconnect, high-speed I/O, on-package memory, and ultra-large package design. This effort also enables MediaTek to optimize performance, power, and area (PPA) through Design Technology Co-Optimization (DTCO) to best fit customers’ domain specific requirements.

To learn more about MediaTek at MWC 2025, please stop by our booth #3D10 or visit: https://www.mediatek.com

About MediaTek Inc.

MediaTek Incorporated (TWSE: 2454) is a global fabless semiconductor company that enables nearly 2 billion connected devices a year. We are a market leader in developing innovative systems-on-chip (SoC) for mobile, home entertainment, connectivity and IoT products. Our dedication to innovation has positioned us as a driving market force in several key technology areas, including highly power-efficient mobile technologies, automotive solutions and a broad range of advanced multimedia products such as smartphones, tablets, digital televisions, 5G, Voice Assistant Devices (VAD) and wearables. MediaTek empowers and inspires people to expand their horizons and achieve their goals through smart technology, more easily and efficiently than ever before. We work with the brands you love to make great technology accessible to everyone, and it drives everything we do. Visit www.mediatek.com for more information.

Media Contact

Kevin Keating
pr@mediatek.com

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SOURCE MediaTek Inc.

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