Global Multi-Vendor Support Services Market is valued at approximately USD 56.85 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 2.52% over the forecast period 2022-2029. Multi-vendor support service can be defined as a system of services which assists in the planning and management of outsourced IT services. Moreover, the multi-vendor support service system is intended to support business organizations in the management and monitoring of the exposure to risk caused by third-party service providers. Additionally, multi-vendor IT support service systems offer real-time visibility of the controls and risks associated with IT-related services as well as automate and simplify the supplier management lifecycle. The increasing adoption of cloud applications & services and growing expansion of IT outsourcing industry are key factors driving the market growth.
The rising adoption of cloud applications & services is contributing towards the growth of the Global Multi-Vendor Support Services Market. For instance - as per Statista - in 2021, the global cloud applications market was valued at USD 133.6 billion, and the market is projected to reach USD 168.6 billion by 2025. Another key factor accelerating the global market space is growing expansion of IT outsourcing industry worldwide. For instance - as per Statista - as of 2023, revenue in the global IT Outsourcing segment is estimated at USD 430.50 billion, and the revenue is projected to show an annual growth rate of 8.07% between 2023 & 2027, to reach a market volume of USD 587.30 billion by 2027. Also, growing use of centralized support services and rising emergence of machine learning and artificial intelligence technologies would create a lucrative growth prospectus for the market over the forecast period. However, privacy and data security issues stifle the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Multi-Vendor Support Services Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of leading market players and increasing adoption of IT outsourcing services in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rising expansion of business process outsourcing industry as well as increasing penetration of leading market players in the region.
Major market players included in this report are:
- Hitachi Limited
- IBM
- Lenovo Group Ltd.
- Dell Technologies
- NEC Corporation
- HP Inc.
- Fujitsu Ltd.
- Symantec
- AbTech Technologies
- NortonLifeLock Inc.
Recent Developments in the Market:
- In January 2021, CDS, one of the leading providers of multi-vendor services (MVS) for data centers launched its new Raytrix MVS platform, a comprehensive set of applications that extend the useful life of storage, server and network infrastructure.
Global Multi-Vendor Support Services Market Report Scope:
- Historical Data: 2019-2020-2021
- Base Year for Estimation: 2021
- Forecast period: 2022-2029
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Service Type, Application, Organization Size, End-User, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Service Type
By Application
- Finance
- Human resource
- IT management
- sales & marketing
By Organization Size
By End-User
- Manufacturing
- Healthcare
- IT and Telecom
- BFSI
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- RoLA
- Rest of the World
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
- 1.2.1. Multi-Vendor Support Services Market, by Region, 2019-2029 (USD Billion)
- 1.2.2. Multi-Vendor Support Services Market, by Service Type, 2019-2029 (USD Billion)
- 1.2.3. Multi-Vendor Support Services Market, by Application, 2019-2029 (USD Billion)
- 1.2.4. Multi-Vendor Support Services Market, by Organization Size, 2019-2029 (USD Billion)
- 1.2.5. Multi-Vendor Support Services Market, by End-User, 2019-2029 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Multi-Vendor Support Services Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Scope of the Study
- 2.2.2. Industry Evolution
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Multi-Vendor Support Services Market Dynamics
- 3.1. Multi-Vendor Support Services Market Impact Analysis (2019-2029)
- 3.1.1. Market Drivers
- 3.1.1.1. Increasing adoption of cloud application & services
- 3.1.1.2. Growing expansion of IT outsourcing industry
- 3.1.2. Market Challenges
- 3.1.2.1. Privacy and security issues
- 3.1.3. Market Opportunities
- 3.1.3.1. Growing use of centralized support services
- 3.1.3.2. Rising emergence of machine learning and artificial intelligence technologies
Chapter 4. Global Multi-Vendor Support Services Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Futuristic Approach to Porter's 5 Force Model (2019-2029)
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. Industry Experts Prospective
- 4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
- 5.1. Assessment of the overall impact of COVID-19 on the industry
- 5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Multi-Vendor Support Services Market, by Service Type
- 6.1. Market Snapshot
- 6.2. Global Multi-Vendor Support Services Market by Service Type, Performance - Potential Analysis
- 6.3. Global Multi-Vendor Support Services Market Estimates & Forecasts by Service Type 2019-2029 (USD Billion)
- 6.4. Multi-Vendor Support Services Market, Sub Segment Analysis
- 6.4.1. Hardware
- 6.4.2. Software
Chapter 7. Global Multi-Vendor Support Services Market, by Application
- 7.1. Market Snapshot
- 7.2. Global Multi-Vendor Support Services Market by Application, Performance - Potential Analysis
- 7.3. Global Multi-Vendor Support Services Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
- 7.4. Multi-Vendor Support Services Market, Sub Segment Analysis
- 7.4.1. Finance
- 7.4.2. Human resource
- 7.4.3. IT management
- 7.4.4. sales & marketing
Chapter 8. Global Multi-Vendor Support Services Market, by Organization Size
- 8.1. Market Snapshot
- 8.2. Global Multi-Vendor Support Services Market by Organization Size, Performance - Potential Analysis
- 8.3. Global Multi-Vendor Support Services Market Estimates & Forecasts by Organization Size 2019-2029 (USD Billion)
- 8.4. Multi-Vendor Support Services Market, Sub Segment Analysis
- 8.4.1. Small
- 8.4.2. Medium, and large
Chapter 9. Global Multi-Vendor Support Services Market, by End-User
- 9.1. Market Snapshot
- 9.2. Global Multi-Vendor Support Services Market by End-User, Performance - Potential Analysis
- 9.3. Global Multi-Vendor Support Services Market Estimates & Forecasts by End-User 2019-2029 (USD Billion)
- 9.4. Multi-Vendor Support Services Market, Sub Segment Analysis
- 9.4.1. Manufacturing
- 9.4.2. Healthcare
- 9.4.3. IT and Telecom
- 9.4.4. BFSI
Chapter 10. Global Multi-Vendor Support Services Market, Regional Analysis
- 10.1. Multi-Vendor Support Services Market, Regional Market Snapshot
- 10.2. North America Multi-Vendor Support Services Market
- 10.2.1. U.S. Multi-Vendor Support Services Market
- 10.2.1.1. Service Type breakdown estimates & forecasts, 2019-2029
- 10.2.1.2. Application breakdown estimates & forecasts, 2019-2029
- 10.2.1.3. Organization Size breakdown estimates & forecasts, 2019-2029
- 10.2.1.4. End-User breakdown estimates & forecasts, 2019-2029
- 10.2.2. Canada Multi-Vendor Support Services Market
- 10.3. Europe Multi-Vendor Support Services Market Snapshot
- 10.3.1. U.K. Multi-Vendor Support Services Market
- 10.3.2. Germany Multi-Vendor Support Services Market
- 10.3.3. France Multi-Vendor Support Services Market
- 10.3.4. Spain Multi-Vendor Support Services Market
- 10.3.5. Italy Multi-Vendor Support Services Market
- 10.3.6. Rest of Europe Multi-Vendor Support Services Market
- 10.4. Asia-Pacific Multi-Vendor Support Services Market Snapshot
- 10.4.1. China Multi-Vendor Support Services Market
- 10.4.2. India Multi-Vendor Support Services Market
- 10.4.3. Japan Multi-Vendor Support Services Market
- 10.4.4. Australia Multi-Vendor Support Services Market
- 10.4.5. South Korea Multi-Vendor Support Services Market
- 10.4.6. Rest of Asia Pacific Multi-Vendor Support Services Market
- 10.5. Latin America Multi-Vendor Support Services Market Snapshot
- 10.5.1. Brazil Multi-Vendor Support Services Market
- 10.5.2. Mexico Multi-Vendor Support Services Market
- 10.5.3. Rest of Latin America Multi-Vendor Support Services Market
- 10.6. Rest of The World Multi-Vendor Support Services Market
Chapter 11. Competitive Intelligence
- 11.1. Top Market Strategies
- 11.2. Company Profiles
- 11.2.1. Hitachi Limited
- 11.2.1.1. Key Information
- 11.2.1.2. Overview
- 11.2.1.3. Financial (Subject to Data Availability)
- 11.2.1.4. Product Summary
- 11.2.1.5. Recent Developments
- 11.2.2. IBM
- 11.2.3. Lenovo Group Ltd.
- 11.2.4. Dell Technologies
- 11.2.5. NEC Corporation
- 11.2.6. HP Inc.
- 11.2.7. Fujitsu Ltd.
- 11.2.8. Symantec
- 11.2.9. AbTech Technologies
- 11.2.10. Norton LifeLock Inc.
Chapter 12. Research Process
- 12.1. Research Process
- 12.1.1. Data Mining
- 12.1.2. Analysis
- 12.1.3. Market Estimation
- 12.1.4. Validation
- 12.1.5. Publishing
- 12.2. Research Attributes
- 12.3. Research Assumption