[FURL=https://www.industryarc.com/Research/Multi-vendor-Support-Services-Market-Research-500600]Multi-Vendor Support Services Market[/FURL] is forecast to reach $57.2 billion by 2025, growing at a CAGR 3.2% from 2020 to 2025. Multi-vendor support services can enable any company to simplify IT management from various vendor contracts to a single vendor with experience to handle all of the IT infrastructure. Multi-vendor support also eliminates downtime by streamlining problem identification and solving through the entire IT environment. These multi-vendor support services help reduce the risk of managing multiple IT solutions and services while improving production. Owing to the growing adoption of IoT, cloud and Big Data Analytics as a major part of their digital transformation strategy across multiple organizations, the pressure on data centers is also rising, contributing to market growth.Key Takeaways
Growing changes in the IT infrastructure, rising maintenance costs of original equipment manufacturer services, reducing IT support & maintenance complexities are the key growth drivers for the Multi-Vendor Support Services market.
The burden on data centers is also increasing, leading to market growth due to the increasing adoption of IoT, cloud and Big Data Analytics as a major part of their digital transformation strategy across various companies.
IT and telecommunication are an important segment for Multi-Vendor Support Services due to various technological adoptions, increased frequency of BYOD policy adoption and increased need for high-end security due to rapidly growing data among organizations.
The key driver of growth for North America's regional segment is the substantial presence of technology providers. These players focus on entering alliances, merger-acquisitions and offering new solutions to remain in a competitive regional and global market.
Remote working has surged all around the world since the COVID-19 pandemic. Multi-Vendor Support Services providers are seizing the opportunity to solve market problems to maintain a smooth working climate.
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Multi-Vendor Support Services Market Segment Analysis - By Geography
North America currently dominates the global Multi-Vendor Support Services market with a share of more than 38.1%. The primary driver of growth for the regional segment of North America is the growing presence of technology providers.
Multi-Vendor Support Services Market Drivers
Rapid changes in the IT infrastructure
Increase in Remote Working
Multi-Vendor Support Services Market Landscape : Multi-Vendor Support Services Market is expected to be dominated by major companies such as LexisNexis Group, Inc., BWise B.V., LogicManager, Inc., MetricStream, Inc., Relational Security Corporation (Rsam), IBM Corporation, LockPath, Inc., Genpact Limited, Dell, Inc., HP Enterprise, Symantec, Oracle, Fujitsu, NEC, Lenovo, and Hitachi.
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