Sep 22, 2021, 09:46 EST
Shibuya-ku, Tokyo, Japan, Japan, Sep 22, 2021, 09:46 /Comserve / -- Multi Vendor Support Services Market analyze market size, share, growth, trends, segmentation, top key players, strategies, demand, statistics, competitive landscape and forecast.
The multi vendor support services market is expected to grow at 4.1% CAGR during the forecast period of 2020-2025. Multi vendor support services can help any businesses to simplify IT management from multiple vendor contracts to a single vendor with expertise to maintain all the IT infrastructure. Therefore, multi vendor support reduces downtime by streamlining problem identification and solving across the entire IT environment. There is a significant increase in the development and acceptance of advanced solutions among businesses. These multi vendor support services help to decrease the risk associated with managing several IT solutions and services while improving smooth production or daily work. This is bolstering the demand for multi vendor support services across the world.
- Unlike the last couple of IT infrastructure transition years, many businesses are shifting towards the third party multi vendor maintenance provider because of the severe budget constraints and reductions in the CAPEX. Enterprises seeking to do more while keeping it cost-efficient are interested in third-party maintenance to limit their solutions and service expenditures while retaining their conventional uptime and performance.
- The IT services for cloud, IoT platforms, containers, DevOps, and Big Data are expected to hold tremendous potential for the multi vendor support service providers in the forecast period. According to Cisco, 46% of network devices will be machine-to-machine or IoT by 2020, which are vulnerable to attacks. Enterprises and government organizations worldwide are moving from conventional environments to placing more of their work-critical workloads and compute instances into the cloud.
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- Further, owing to the rapidly increasing adoption of IoT, cloud, and Big data Analytics across multiple organizations as a significant part of their digital transformation strategy, the burden on the data centers is also increasing, leading to the growth of the market. In the current scenario, data centers are more complex than ever, with more than thousands of components. Lifecycle maintenance in this complex environment is essential, but it is also very challenging, as IT players work to balance performance and cost. This is why lifecycle maintenance is an admin headache for today’s enterprises. They have maintenance contracts with dozens of vendors, each with multiple types of equipment. With the increasing adoption of multi vendor support services, the lifecycle maintenance of data centers becomes more manageable and cost-effective.
- The fast-paced and ever-changing challenges of supporting a multi vendor support environment get exponentially difficult as an enterprise adds new technology to their IT infrastructure, updates levels of service, new support agreements, or updates warranties with each vendor. To solve these arising problems, total support management provided by technology providers like Dell Technologies is offering multi vendor support services, which not only cut costs and increase productivity across an IT organization but also lower the burden on resources already managing too many daily admin tasks.
- At the time of the COVID-19 pandemic, remote working has surged across the world. Multi vendor support services providers are taking the opportunity to take the advantage to solve the enterprise problems to maintain a smooth working environment. For example, IBM Cloud solutions can help an enterprise to make a seamless transition to remote business with a flexible, secure cloud and digital services for virtualization, mobility, collaboration, and support. In the remote working condition, with the help of Cisco’s in-depth knowledge base, IBM Corporation’s intelligent network support delivers a proactive support model that helps the user to identify problems before they occur and affect enterprise operations.
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Key Market Trends
IT & Telecommunication Vertical is Expected to Grow at a Significant Rate Over the Forecast Period
- The IT and telecommunication vertical is a significant segment for the multi vendor support services, due to the high rate of various technological adoptions, increased frequency of adoption of the BYOD policy (to make business operations much more comfortable and controllable), and growing need for high-end security due to the rapidly increasing data among the organizations.
- The telecom industry has observed extensive growth during the past few years. Telecommunication companies are encountering constant pressure to deliver innovative services at lower costs to retain their customers in the competitive market. Multi vendor support services have become a widespread demand for operators to address a complex and competitive environment.
- The deployment of multi vendor SD-WAN services is also increasing at a significant rate. This involves comprehensive validation and integration of the uCPE platform with a wide range of software service chaining, including security, routing, SDN switching, vBNG/vCGNAT, NFV, and service assurance. To meet the demand for multi-vendor networks, Lanner, a Taiwan-based company, offers a wide range of open, interoperable uCPE platforms that offer multi-core computing power, crypto acceleration engines, and WiFi/LTE/5G-ready connectivity.
- In September 2019, Evernex Group SAS and Huawei signed an MOU on Huawei’s intelligent computing business. As a result of this agreement, as a multi vendor support service provider, Evernex provides intelligent computing services for Huawei’s client base across Europe.
- In November 2019, Samsung successfully demonstrated multi vendor interoperability on its 5G SA core with an assist from HPE and Openet. These increasing multi vendor testing services are also augmenting the growth of this segment in the coming years.
North America Geographic Segment is Expected to Hold a Significant Share Throughout the Forecast Period
- The primary driver for the North America geographic segment's growth is the significant presence of technology providers. These players focus on entering into partnerships, merger-acquisitions, and innovative solutions offerings to stay in the regional and globally
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The multi vendor support services market is moderately competitive and consists of a significant number of global and regional players. These players account for a considerable share in the market and focusing on expanding their client base across the globe. These vendors focus on the research and development activities, strategic alliances, and other organic & inorganic growth strategies to earn a competitive edge over the forecast period.
- In April 2020, Fenergo and IBM Corporation entered into an OEM agreement that will see both organizations collaborate on the creation of the BFSI sector’s crime solutions. The primary aim for both firms is that customers using the Fenergo platform via IBM will have access to the selection of additional support services, including IT support, system developers, predictive analytics, and multi-vendor processing.
- In June 2020, Ribbon Communications announced that ECI, which recently merged with Ribbon, has successfully participated in a wide range of 5G tests at the interoperability showcase organized by the EANTC. In the seminar, Ribbon has shown multi vendor interoperability testing of advanced transport features of 5G networks. This newly developed multi vendor service will help the company to gain a competitive edge in the market landscape.
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