New York, September 17, 2021 (GLOBE NEWSWIRE) – According to statistics from the Organization for Economic Co-operation and Development (OECD), the research and development budget allocated by the U.S. Government for transportation development. , telecommunications and other infrastructures were estimated to reach USD 1957 million in the year 2020, up from USD 1591 million in 2012. On the other hand, according to statistics from the North American Industry Distribution System Association (NAICS), total businesses they can be marketed in the US. under the code 5112 (software publishers), 5173 (wired and wireless telecommunications carriers), 5174 (satellite telecommunications), 5179 (other telecommunications), 5182 (data processing, hosting, and related services), and 5191 (other information services) 24078, 51552, 181, 75152, 22296, and 33698 respectively.
Research Nester published a report entitled ‘United States and Puerto Rico IT Managed Services Market’ which is segmented based on enterprise size, type of service, consumption, and industry by vertical. The report includes descriptive insights about the latest trends, growth drivers, market-related opportunities and challenges during 2019 – 2028.
The United States is known for offering state-of-the-art information technology (IT) services. Every year plenty of IT-based startups are established in the region that provide efficient and reliable technologies and solutions that are rapidly accelerating to market. In the year 2018, there were more than 30 million small businesses operating in the United States. Further, capital financing in start-ups reached approximately USD 150 billion in 2017. In addition, it is estimated that approximately 60% of small businesses would outsource their services to other small businesses.
Backed by the growing awareness for process outsourcing among business enthusiasts, the US market is estimated to acquire revenue of USD 174,853.6 million by the end of 2028, rising from USD 71,760 million in 2019, by recording an 11% CAGR . over the forecast period, ie, 2020 – 2028. The market in the country is also predicted to grow due to the increasing adoption of new technologies among institutions. In 2020, more than 35% of companies, primarily in the United States, created a data-driven organization. That same year, more than 60% of organizations reported that they were driving innovations with big data and AI. On the other hand, in Puerto Rico, the IT managed services market collected revenue of USD 510 million in 2019 and is expected to touch USD 973.3 million in 2028 by growing at a CAGR of 7.5% during the forecast period. The growth of the market in Puerto Rico can be attributed to factors such as the growing need for evolving IT infrastructure and the growing emphasis of small & amp; medium-sized enterprises (SMEs) at lower risk and core business. However, the increasing number of cyber security threats and the lack of skilled IT professionals are expected to hamper market growth in the coming years. According to data released by the FBI’s Internet Crime Complaint Center (IC3), in 2019, 467,361 internet crime complaints were registered. About USD 3.5 billion of losses were caused to individual and business victims that year.
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The US-managed IT services market is divided into six regions, including the US West, Northeast US, Southeast US, Southwest US and Midwest US, and of these, the market in the US West is assessed to observe the highest growth rate. of 11.7% over the forecast period. The market captured revenue of USD 18,298.8 million in 2019, and is expected to reach USD 47,035.6 million by the end of 2028. Further, in the year 2021, the region is estimated to collect revenue of USD 22,079.6 million. Market growth in the Western United States can be credited primarily to the presence of several IT companies in the region, followed by the rise of technological advances in IoT and artificial intelligence. Furthermore, the market in the Western United States is divided into California, Alaska, Washington, Oregon, and the Rest of the US West. Among these, the market in California is being evaluated to witness the highest CAGR of 12.1% during the forecast period and reach the highest market revenue of USD 31252.8 million by the end of 2028, on the back of a strong presence leading market players and increasing employment in the scientific & amp; technical services sector in the state. In accordance with data provided by the Employment Development Department of the state of California, the employment is in the field of professional, scientific & amp; technical services in May, 2020 were calculated to be 1,286,100 people. The number rose to 1,344,800 people in May 2021.
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The market is divided based on the type of enterprise large and small & amp; medium-sized enterprises (SMEs), for which the segment for large enterprises in the US market is projected to occupy a notable market share of USD 108,552.3 million by the end of 2028, up from USD 46,569.3 million in 2019. In 2021, the value this segment is expected to reach USD 55008.3 million. On the other hand, the SME segment is estimated to observe a growth rate of 11.9% during the forecast period, given the high adoption of complex automation systems and widespread implementation of cloud technologies in these organizations. It is estimated that more than 40% of SMEs prefer the public cloud, but about 75% of small businesses are being evaluated to adopt cloud computing by 2020. Apart from these, a surge in numbers is forecast. the leading U.S. businesses leading. to the future growth of this market segment. The large enterprises segment in the Western United States is further expected to reach USD 28841.4 million by the end of 2028 by growing at a CAGR of 11.1% during the forecast period. Moreover, the SME segment is expected to grow with the highest CAGR of 8.4% during the forecast period in Puerto Rico. The segment is also expected to achieve revenue of USD 206.6 million by the end of 2021.
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The US and Puerto Rico IT managed services market is also segmented based on service type, usage, and industry vertically.
United States and Puerto Rico IT Managed Services Market, Segmentation by Service Type
US and Puerto Rico IT Managed Services Market, Segmentation by Usage
US and Puerto Rico IT Managed Services Market, Segmentation by Industry Vertical
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Key industry leaders mentioned in our report related to the US and Puerto Rico managed services market include IBM Corporation, Infosys Limited, Cisco System Inc., DXC Technology Company, Accenture PLC, Hewlett Packard Enterprise Development LP, AT & amp T Inc., Verizon Communications Inc, Dell Technologies Inc., Tata Consultancy Services Limited, Rackspace Technology, iNubo IT, CP CORP, and others.
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