Market Insights Technology Cybersecurity Security Services

Managed Services - Africa

Africa

The Managed Services market in Africa is anticipated to witness substantial growth in the coming years.
According to projections, the revenue in this market is expected to reach US$276.20m by 2024.
This growth is attributed to various factors such as the increasing adoption of managed services by businesses and the growing demand for IT infrastructure management.
Furthermore, it is estimated that the revenue in the Managed Services market will experience a Compound Annual Growth Rate (CAGR) of 3.61% between 2024 and 2029.
This steady growth is predicted to result in a market volume of US$329.80m by 2029.
In terms of the average Spend per Employee in the Managed Services market, it is projected to reach US$0.54 in 2024.
This metric showcases the investment made by companies in availing managed services for their employees, highlighting the importance of outsourcing IT functions for operational efficiency and cost savings.
When compared globally, it is evident that United States will generate the highest revenue in the Managed Services market.
Projections indicate that the revenue United States will amount to US$10,260.0m by 2024.
This dominance is primarily driven by the country's robust IT infrastructure, extensive technology adoption, and a large number of enterprises utilizing managed services to enhance their operations.
Overall, the Managed Services market in Africa presents significant growth potential, with revenue projections indicating a promising future.
As businesses increasingly recognize the benefits of outsourcing IT functions, the demand for managed services is expected to rise, driving the market's expansion.
In Africa, the demand for Managed Services is growing rapidly as businesses seek to outsource their IT infrastructure management to specialized service providers.

Key regions: India, Germany, Canada, Europe, Belgium

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Currency

Methodology

Data coverage:

Data encompasses B2C, B2B and B2G enterprises. Figures are based on security spending excluding VAT and the number of cyberattacks.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial statements of the market-leading companies and industry associations, national statistical offices, and specific countries’ security organizations (e.g., German Cyber Security Council, Canadian Centre for Cyber Security). Furthermore, we use relevant key market indicators and data from country-specific associations, such as GDP and internet penetration. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. Possible techniques are, for example, exponential trend smoothing and the autoregressive integrated moving average (ARIMA) forecasting algorithm. The main drivers are GDP, internet users, level of digitization, and consumer attitude towards data and IT security.

Additional notes:

Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.