Summary

The North America IT management as a service market was valued at US$ 4,018.45 million in 2023 and is expected to reach US$ 13,814.61 million by 2031; it is estimated to register a CAGR of 16.7% from 2023 to 2031.

Rising Demand for Remote Work Culture Fuels North America IT Management as a Service Market

Remote work is becoming the new normal for many organizations and has become a phenomenon in recent years, especially after the COVID-19 pandemic. According to Gallup, Inc. report of June 2022, remote work is continuously perceived as positive, with almost 65% of full-time employees ready to work remotely in the US. Working remotely helps employees reduce their traveling and maintain a work-life balance. A study conducted by the National Bureau of Economic Research in January 2023 showed that remote work saved an average of 72 minutes spent by employees on their daily travel to and from their on-site jobs during 2021-2022. Due to all these factors, the demand for remote work is increasing among the employees. To maintain flexibility in working conditions, organizations are working on implementing a remote working model. However, this growing adoption of the remote working model fuels the need to set up new IT infrastructure among organizations. To cater to these needs, various organizations are moving to ITMaaS, as they help organizations manage all their IT operations at low cost, increasing their demand globally. ITMaaS service providers can help organizations take care of sourcing, deployment, and management of routine IT infrastructure.

Their services can cover a variety of aspects of software, hardware, and infrastructure maintenance, including deploying and maintaining IT infrastructure, data backup and recovery, sourcing and supporting software to meet customer's needs, security monitoring services, and endpoint monitoring and management. Furthermore, ITMaaS can assist an organization in identifying the problem, deploying the ideal remote employee productivity monitoring tool, training managers on how to access productivity data, and understanding the difficulties that arise when employees work from home. Thus, the rising demand for remote work culture is pushing organizations to move toward ITMaaS to implement remote working models, which is boosting the growth of the IT management as a service market.

North America IT Management as a Service Market Overview

The IT management as a service market in North America is segmented into the US, Canada, and Mexico. North America is the early adopter of technologies and has a good IT infrastructure. According to the International Trade Administration, the US accounts for one-third of the US$ 5 trillion worldwide information technology (IT) market, making it the world's largest. In addition, the sector supports 12.1 million employment and contributes ~US$ 1.9 trillion to the US value-added GDP. Furthermore, according to CompTIA, there are over 557,000 software and IT service companies in the US.

As per the International Trade Administration, the ICT industry in Canada comprises more than 43,200 businesses. Of these, the major number of companies operate in the computer services and software sectors. The industry is primarily made up of small businesses, with ~35,500 employing fewer than ten people. There are nearly 100 significant companies, including subsidiaries of international multinational corporations, that employ more than 500 people. Having such a big IT industry in the region is raising the need for IT management as a service (ITMaaS), as outsourcing these services helps large enterprises and SMEs in cost-saving, improving scalability, and increasing efficiency.

The region is also witnessing a rise in digitization in the healthcare sector. According to the Canada Health Infoway, Canadians are embracing digital health services, and it is also estimated that the demand for digital healthcare services will increase in the coming year. According to an online survey conducted in November 2022 with 12,445 Canadians, 94% of Canadians were interested in accessing digital health services. Thus, growing digitization in the healthcare sector is projected to raise the need for ITMaaS services among healthcare providers to conduct all IT-related operations efficiently.

North America IT Management as a Service Market Revenue and Forecast to 2031 (US$ Million)

North America IT Management as a Service Market Segmentation

The North America IT management as a service market is categorized into application, enterprise size, end user, and country.

Based on application, the North America IT management as a service market is segmented into system and network monitoring, compliance and security management, asset management, infrastructure performance management, configuration and change management, and others. The system and network monitoring segment held the largest North America IT management as a service market share in 2023.

In terms of enterprise size, the North America IT management as a service market is bifurcated into large enterprises and SMEs. The large enterprises segment held a larger North America IT management as a service market share in 2023.

By end user, the North America IT management as a service market is divided into IT and telecom, BFSI, healthcare and lifesciences, manufacturing, higher education, retail, energy and utilities, non profit, and others. The IT and telecom segment held the largest North America IT management as a service market share in 2023.

By country, the North America IT management as a service market is segmented into the US, Canada, and Mexico. The US dominated the North America IT management as a service market share in 2023.

Cisco Systems Inc; Cognizant Technology Solutions Corp; Wipro Ltd; Amazon Web Services Inc; International Business Machines Corp; Fujitsu Ltd; Persistent Systems Ltd; BMC Software, Inc; HCL Technologies Ltd; Hewlett Packard Enterprise Co; Capgemini SE; Atos SE; Kyndryl Holdings Inc; Avanade Inc; Integris; Thrive Operations LLC; Rimini Street, Inc; and Neudesic, LLC are some of the leading companies operating in the North America IT management as a service market.

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Table of Contents

TABLE OF CONTENTS

1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.3 Hypothesis formulation:
3.4 Macro-economic factor analysis:
3.5 Developing base number:
3.6 Data Triangulation:
3.7 Country level data:
4. North America IT Management as a Service Market Landscape
4.1 Overview
4.1.1 ITMaaS Service Providers:
4.1.2 Regulatory Bodies:
4.1.3 End Users:
4.1.4 List of Vendors in the Value Chain
5. North America IT Management as a Service Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Demand for Remote Work Culture
5.1.2 Increasing Complexity of IT Infrastructure
5.2 Market Restraints
5.2.1 Growing Data Privacy and Security Concerns
5.3 Market Opportunities
5.3.1 Rising Adoption of ITMaaS in Healthcare Industry
5.3.2 Growing Digitization in SMEs
5.4 Market Trends
5.4.1 Rising Demand for Cloud Computing
5.5 Impact of Drivers and Restraints:
6. IT Management as a Service Market - North America Analysis
6.1 North America IT Management as a Service Market Revenue (US$ Million), 2021-2031
6.2 North America IT Management as a Service Market Forecast Analysis
7. North America IT Management as a Service Market Analysis - by Application
7.1 System and Network Monitoring
7.1.1 Overview
7.1.2 System and Network Monitoring: IT Management as a Service Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Compliance and Security Management
7.2.1 Overview
7.2.2 Compliance and Security Management: IT Management as a Service Market - Revenue and Forecast to 2031 (US$ Million)
7.3 Asset Management
7.3.1 Overview
7.3.2 Asset Management: IT Management as a Service Market - Revenue and Forecast to 2031 (US$ Million)
7.4 Infrastructure Performance Management
7.4.1 Overview
7.4.2 Infrastructure Performance Management: IT Management as a Service Market - Revenue and Forecast to 2031 (US$ Million)
7.5 Configuration and Change Management
7.5.1 Overview
7.5.2 Configuration and Change Management: IT Management as a Service Market - Revenue and Forecast to 2031 (US$ Million)
7.6 Others
7.6.1 Overview
7.6.2 Others: IT Management as a Service Market - Revenue and Forecast to 2031 (US$ Million)
8. North America IT Management as a Service Market Analysis - by Enterprise Size
8.1 Large Enterprises
8.1.1 Overview
8.1.2 Large Enterprises: IT Management as a Service Market - Revenue and Forecast to 2031 (US$ Million)
8.2 SMEs
8.2.1 Overview
8.2.2 SMEs: IT Management as a Service Market - Revenue and Forecast to 2031 (US$ Million)
9. North America IT Management as a Service Market Analysis - by End User
9.1 IT and Telecom
9.1.1 Overview
9.1.2 IT and Telecom: IT Management as a Service Market - Revenue and Forecast to 2031 (US$ Million)
9.2 BFSI
9.2.1 Overview
9.2.2 BFSI: IT Management as a Service Market - Revenue and Forecast to 2031 (US$ Million)
9.3 Healthcare and Lifesciences
9.3.1 Overview
9.3.2 Healthcare and Lifesciences: IT Management as a Service Market - Revenue and Forecast to 2031 (US$ Million)
9.4 Manufacturing
9.4.1 Overview
9.4.2 Manufacturing: IT Management as a Service Market - Revenue and Forecast to 2031 (US$ Million)
9.5 Higher Education
9.5.1 Overview
9.5.2 Higher Education: IT Management as a Service Market - Revenue and Forecast to 2031 (US$ Million)
9.6 Retail
9.6.1 Overview
9.6.2 Retail: IT Management as a Service Market - Revenue and Forecast to 2031 (US$ Million)
9.7 Energy and Utilities
9.7.1 Overview
9.7.2 Energy and Utilities: IT Management as a Service Market - Revenue and Forecast to 2031 (US$ Million)
9.8 Non-Profit
9.8.1 Overview
9.8.2 Non-Profit: IT Management as a Service Market - Revenue and Forecast to 2031 (US$ Million)
9.9 Others
9.9.1 Overview
9.9.2 Others: IT Management as a Service Market - Revenue and Forecast to 2031 (US$ Million)
10. North America IT Management as a Service Market - Country Analysis
10.1 North America
10.1.1 North America IT Management as a Service Market Overview
10.1.2 North America: IT Management as a Service Market Breakdown, by Key Countries, 2023 and 2031 (%)
10.1.2.1 North America: IT Management as a Service Market - Revenue and Forecast Analysis - by Country
10.1.2.2 United States: IT Management as a Service Market - Revenue and Forecast to 2031 (US$ Million)
10.1.2.2.1 United States: IT Management as a Service Market Breakdown, by Application
10.1.2.2.2 United States: IT Management as a Service Market Breakdown, by Enterprise Size
10.1.2.2.3 United States: IT Management as a Service Market Breakdown, by End User
10.1.2.3 Canada: IT Management as a Service Market - Revenue and Forecast to 2031 (US$ Million)
10.1.2.3.1 Canada: IT Management as a Service Market Breakdown, by Application
10.1.2.3.2 Canada: IT Management as a Service Market Breakdown, by Enterprise Size
10.1.2.3.3 Canada: IT Management as a Service Market Breakdown, by End User
10.1.2.4 Mexico: IT Management as a Service Market - Revenue and Forecast to 2031 (US$ Million)
10.1.2.4.1 Mexico: IT Management as a Service Market Breakdown, by Application
10.1.2.4.2 Mexico: IT Management as a Service Market Breakdown, by Enterprise Size
10.1.2.4.3 Mexico: IT Management as a Service Market Breakdown, by End User
11. Competitive Landscape
11.1 Company Positioning & Concentration
11.2 Heat Map Analysis by Key Players
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Product News & Company News
12.4 Collaboration and Mergers & Acquisitions
13. Company Profiles
13.1 Cisco Systems Inc
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Cognizant Technology Solutions Corp
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Wipro Ltd
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Amazon Web Services Inc
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 International Business Machines Corp
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Fujitsu Ltd
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Persistent Systems Ltd
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 BMC Software, Inc.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 HCL Technologies Ltd
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Hewlett Packard Enterprise Co
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
13.11 Capgemini SE
13.11.1 Key Facts
13.11.2 Business Description
13.11.3 Products and Services
13.11.4 Financial Overview
13.11.5 SWOT Analysis
13.11.6 Key Developments
13.12 Atos SE
13.12.1 Key Facts
13.12.2 Business Description
13.12.3 Products and Services
13.12.4 Financial Overview
13.12.5 SWOT Analysis
13.12.6 Key Developments
13.13 Kyndryl Holdings Inc
13.13.1 Key Facts
13.13.2 Business Description
13.13.3 Products and Services
13.13.4 Financial Overview
13.13.5 SWOT Analysis
13.13.6 Key Developments
13.14 Avanade Inc.
13.14.1 Key Facts
13.14.2 Business Description
13.14.3 Products and Services
13.14.4 Financial Overview
13.14.5 SWOT Analysis
13.14.6 Key Developments
13.15 Integris
13.15.1 Key Facts
13.15.2 Business Description
13.15.3 Products and Services
13.15.4 Financial Overview
13.15.5 SWOT Analysis
13.15.6 Key Developments
13.16 Thrive Operations LLC
13.16.1 Key Facts
13.16.2 Business Description
13.16.3 Products and Services
13.16.4 Financial Overview
13.16.5 SWOT Analysis
13.16.6 Key Developments
13.17 Rimini Street, Inc.
13.17.1 Key Facts
13.17.2 Business Description
13.17.3 Products and Services
13.17.4 Financial Overview
13.17.5 SWOT Analysis
13.17.6 Key Developments
13.18 Neudesic, LLC
13.18.1 Key Facts
13.18.2 Business Description
13.18.3 Products and Services
13.18.4 Financial Overview
13.18.5 SWOT Analysis
13.18.6 Key Developments
14. Appendix
14.1 Word Index
14.2 About The Insight Partners