Market Insights Technology Cybersecurity Security Services

Managed Services - India

India

The projected revenue in the Managed Services market in India is expected to reach US$390.60m in 2024.
This indicates a positive growth trend, with an annual growth rate (CAGR 2024-2029) of 7.75%.
By 2029, the market volume is projected to reach US$567.20m.
Considering the average Spend per Employee in the Managed Services market, it is estimated to reach US$0.72 in 2024.
This figure highlights the investment made by companies in India to avail managed services.
In global comparison, United States is expected to generate the highest revenue in the Managed Services market, with a projected revenue of US$10,260.0m in 2024.
This demonstrates the dominance of the United States in this market segment.
India's managed services market is experiencing rapid growth, driven by increasing demand for cost-effective IT solutions and the country's skilled workforce.

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

Market

Region

Region comparison

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.