North America IT Management as a Service Market

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 Strategic Insights

Strategic insights for the North America IT Management as a Service provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America IT Management as a Service Report Scope

North America IT Management as a Service Regional Insights

The geographic scope of the North America IT Management as a Service refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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.