Market Insights Technology Cybersecurity Security Services

Managed Services - North America

North America

The Managed Services market in North America is expected to experience substantial growth in the coming years.
According to projections, the revenue in this market is set to reach US$11.34bn by 2024.
Furthermore, it is anticipated that the market will display a Compound Annual Growth Rate (CAGR) of 2.32% from 2024 to 2029, resulting in a market volume of US$12.72bn by the end of the forecast period.
When examining the spending patterns per employee in the Managed Services market, it is estimated that the average spend will amount to US$44.45 in 2024.
This figure serves as an indicator of the economic activity within the market and demonstrates the value assigned to Managed Services market by businesses in North America.
In terms of geographical distribution, United States is positioned as the dominant player in the Managed Services market.
It is projected that revenue generated United States will reach US$10,260.0m in 2024.
This highlights the significant contribution of the United States to the overall market revenue in North America.
The demand for managed services in the United States is rapidly growing due to the increasing complexity of IT infrastructure and the need for efficient and cost-effective solutions.

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

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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.