Market Trends of Managed Information Services Industry
Data Backup and Recovery to Dominate the Market
- On-premises data storage can become expensive, requiring new hardware like servers, modems, etc. By partnering with an MSP, the companies can focus on core business needs as they outsource their IT tasks to this dedicated team. With managed backup, an MSP proactively monitors facilities, data centers, and cloud storage to ensure everything runs smoothly.
- According to a study by Accenture, 68% of business leaders feel their cybersecurity risks are increasing. Managed backup protects data from common cyber threats so that companies don’t have to pause operations while scrambling to recover lost or stolen files if systems are infiltrated. For instance, if an organization's files are stolen and locked in a ransomware attack, they can quickly resume business operations using MSP's backup data instead of paying the ransom or trying to continue business as usual without data.
- The healthcare and finance industries are the primary targets of hackers. 84% of hospitals and healthcare centers use cloud service for backup, analytics, and disaster recovery functions, and 76% of healthcare service providers are moving their existing IT infrastructure to the cloud.
- March 2023 - Healthcare solutions company Advantus partnered with GE Health Care (GEHC) to deliver benefits to health systems and suppliers. GEHC will manage complete medical equipment in a healthcare facility – including ongoing maintenance, monitoring for and addressing recalls, disinfection, and distribution. This will help reduce costs and improve productivity. The program will also offer GE HealthCare’s real-time location system technology that tracks and locates a provider’s equipment so caregivers can spend less time searching for equipment and more time with patients.
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Asia-Pacific to Witness the Highest Growth
- Chinese businesses are adopting digital platforms to replace bureaucracy and give front-end staff direct access to the required tools and resources. That platform centralizes standard services, information, and capabilities to support decentralized decision-making. For instance, at Handu Group, a digital platform connects autonomous teams to internal and external factories using cloud-based supply-chain-management software. The platform allows external partners to produce goods on a requirement basis for HStyle but frees them up to serve other customers.
- March 2023 - Menzies Aviation will use a new product developed by Wipro to transform its air cargo management services. This will help the aviation leader to improve business efficiencies, employee experience, and customer service through increased automation. The product will be rolled out in 5 locations, including Macau in China.
- March 2023 - In India, Dr. Lal PathLabs appointed Kyndryl to manage its IT infrastructure stack, including the on-premises IT environment and cloud infrastructure across multiple hyper-scale cloud service providers. After adopting this service, Dr. Lal PathLabs concentrated on raising customer satisfaction while lowering call center workload spikes by a double-digit percentage.
- March 2022 - Mizuho Financial Group, a Japanese firm, partnered up with Google to expedite the digitization of its retail banking services, thereby leaving behind the computer system difficulties that plagued it for months. This will provide insights to the finance company to analyze data about customer transactions conducted on its banking apps and at retail branches.
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