The global information technology services market was valued at $562 billion in 2017. It is expected to grow to $748 billion in 2020, according to figures published by Statista. With an increasing number of small and medium businesses embracing modern technology, the worldwide IT services market is expected to cross the $1,000 billion mark in 2025, says a report by Grand View Research. This represents a CAGR of 8.4% from 2018.
Managed IT Services: What Does it Mean?
Managed IT services enable businesses to outsource their IT operations to experts at a fraction of the cost involved in setting up and managing their own IT department. Providers of IT services bring specialized knowledge to the table along with years of experience, which businesses would otherwise not have access to. Delegating their IT operations allows businesses to focus on their core competencies, rather than bother with handling IT responsibilities.
What Do Providers of Managed IT Services Actually Do?
Providers of managed IT services, or simply managed service providers (MSPs), take the complete responsibility of managing the IT systems of a business. This often involves providing round-the-clock monitoring, issue resolution and reporting.
Providers of managed IT services offer the following:
Security and Compliance
With growth in digital data, security and compliance have become a major concern. A good IT services provider would have stringent mechanisms in place to avoid hacking, ransomware and data theft.
Networking and Infrastructure
A good MSP would offer robust networking and infrastructure solutions. With increased uptime, your team’s work can continue without interruptions.
In case of a disaster, the provider of managed IT services would ensure that things are up and running very quickly. With regular back-ups, the business can prevent the catastrophic impact of data loss.
Cloud services significantly lower hardware costs for a business and increases security.
Managed IT Services: What Else is Included?
A managed IT services partner offers advanced technologies, resources and tools to help businesses achieve their KPIs. The services may include:
With access to helpdesk resources, businesses have the support they need in case of any query or when something goes wrong. Timely professional support allows businesses to increase their employee productivity.
A good managed services provider helps companies maintain IT operations throughout business endpoints and applications and aligns technology and resources with business goals. The provider should follow a comprehensive approach, enabling businesses to reduce management overhead and increase technology reliability.
Such services may include:
- Server and network management
- Cloud infrastructure management
- Cloud application management
- Virtual CTO-services
A good managed services provider would ensure compliance and security across operations, including endpoint security, network security, cloud security and policy management.
Such services may include:
- Managed cybersecurity
- Identity and access management
- Cloud applications and infrastructure security
Managed IT Services: What Are the Advantages?
Here are some reasons for which businesses choose to partner with managed service providers:
Focus on core competencies: Businesses can leave IT operations to experts and enjoy greater peace of mind. They can focus on their core business, rather than managing IT related issues.
Availability of experts at a reasonable cost: Businesses cannot afford to hire a team of IT experts and find it much more cost effective to partner with a professional team that is committed to industry-leading standards for services, infrastructure and support.
Proactive support: Managed service provides offer proactive and expert support to ensure problems are identified and fixed as quickly as possible.
Strategic IT planning: Managed service providers advice businesses and help them plan their future IT infrastructure and software needs.
Managed IT services give businesses you access to a complete IT department, without the hassles of setting up their own.