Market Insights Technology Cybersecurity Security Services

Managed Services - Australia

Australia

The Managed Services market in Australia is expected to witness significant growth in the coming years.
According to projections, the revenue in this market is set to reach AU US$0.65bn by 2024.
Furthermore, it is anticipated that the market will experience a steady annual growth rate (CAGR 2024-2029) of 2.63%, resulting in a market volume of AU US$0.74bn by 2029.
When it comes to the average Spend per Employee in the Managed Services market, it is estimated to reach AU US$44.71 in 2024.
This indicates the level of investment and expenditure dedicated to this sector in Australia.
In a global context, it is worth noting that United States is projected to generate the highest revenue in the Managed Services market.
In 2024 alone, United States is expected to generate a staggering amount of revenue, reaching approximately US$10,260.0m.
This highlights the dominance of the United States in the global market and its strong position in this industry.
In Australia, the demand for managed services is on the rise as businesses seek to outsource IT operations and focus on core competencies.

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

Market

Region

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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.