PUBLISHER: The Business Research Company | PRODUCT CODE: 1425748
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425748
Proactive Services Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on proactive services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for proactive services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The proactive services market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The proactive services aim to predict and address customer needs actively. These services involve reaching out to customers, either by preemptively addressing potential issues or by empowering customers to resolve their own concerns through self-service options.
Proactive services encompass various categories, such as design and consulting, managed services, and technical support. Design and consulting services involve crafting proactive solutions through customer consultation and feedback mechanisms aimed at enhancing these proactive services. The technologies utilized in proactive services include big data analytics, artificial intelligence, and machine learning. These services cater to organizations of different sizes, spanning from large enterprises to small and medium-sized businesses. The applications of proactive services span across cloud management, customer experience management, data center management, end-point management, and network management.
The proactive services market research report is one of a series of new reports from The Business Research Company that provides proactive services market statistics, including proactive services industry global market size, regional shares, competitors with a proactive services market share, detailed proactive services market segments, market trends and opportunities, and any further data you may need to thrive in the proactive services industry. This proactive services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The proactive services market size has grown exponentially in recent years. It will grow from $5.26 billion in 2023 to $6.32 billion in 2024 at a compound annual growth rate (CAGR) of 20.1%. Historical growth in this context has been fueled by several factors such as the escalating complexity within IT environments, the surge in cybersecurity threats, challenges posed by burgeoning data volumes and management, heightened dependence on business intelligence, and a concerted emphasis on meeting regulatory compliance. These aspects have collectively contributed to the growth observed in the specified period.
The proactive services market size is expected to see exponential growth in the next few years. It will grow to $13.43 billion in 2028 at a compound annual growth rate (CAGR) of 20.8%. Anticipated growth in the upcoming forecast period is poised to stem from various initiatives and trends. Factors such as enterprise digitization efforts, a burgeoning demand for proactive network management, a concentrated focus on proactive data governance, advancements in monitoring tools adopting proactive strategies, an amplified emphasis on predictive maintenance, and the sustained monitoring of user behavior are driving this anticipated growth. Additionally, prominent trends in this period encompass AI-powered automation, proactive monitoring enabled by IoT, remote monitoring and management solutions, the advent of cloud-based proactive solutions, cross-platform proactive approaches, collaborative unified communications monitoring, and the proactive management and backup of data. These trends collectively forecast an upward trajectory in the specified timeframe.
The proactive services market experiences significant growth owing to the increased adoption of artificial intelligence (AI) and the internet of things (IoT). These technologies gather data from diverse network sources, facilitating pattern recognition and prediction of repetitive or potential issues. As per SmartTek Solutions' September 2023 report on AI industry statistics, the global AI market surged from $87 billion in 2021 to approximately $120 billion in 2022. Predictions suggest an upward trajectory, reaching over $1.5 trillion by 2030 with an annual growth rate of 37.3% from 2023 to 2030. Thus, the expanding embrace of AI and IoT fuels growth in the proactive services market.
The proactive services market's growth is expected to be driven by the increasing adoption of cloud technology. Cloud adoption, where remote servers host data, is becoming prevalent across businesses, prompting proactive services to play a pivotal role in ensuring seamless operations. Proactive services utilize advanced tech for enhanced operational efficiency in cloud environments. Google's January 2023 report highlighted an increase in the usage of multiple public clouds from 21% in 2021 to 26% in 2022, while hybrid cloud usage rose from 25% to 42.5% in 2022. Consequently, the surge in cloud adoption influences the proactive services market positively.
A prominent trend in the proactive services market involves heightened collaborations and strategic partnerships among major industry players. Companies are increasingly forging strategic alliances with stakeholders to enhance customer experience and support services. For instance, in February 2022, CSS Corp, a US-based IT services firm, collaborated with SupportLogic, aiming to enhance customer support experiences through proactive solutions. Additionally, Microsoft's partnership with Menlo Security in June 2020 under the Microsoft Active Protections Program (MAPP) aimed to provide early vulnerability information to security software providers, bolstering customer protection capabilities.
Leading entities in the proactive services sector are introducing innovative products and services to maintain their market positions. An example is Tata Consultancy Services Limited's launch of the TCS Servitization Engine in June 2022. This engine, built on Oracle Cloud, aids customers in transitioning to subscription-based business models. Leveraging AI-powered insights and TCS's Crystallus framework, it facilitates outcome-driven solutions and enhances customer-facing capabilities. The Servitization Engine enables companies to amplify value in their product offerings through a service-centric approach.
In September 2023, Netskope Inc., a US-based cybersecurity and software company, completed the acquisition of Kadiska for an undisclosed sum. This strategic move aligns with the shared objective of empowering organizations to manage and optimize both security and user experience. The acquisition also aims to bolster Netskope's capabilities in proactive experience remediation, leveraging Kadiska's expertise in user experience monitoring and guided performance optimization of networks. Kadiska, headquartered in France, specializes in delivering platform solutions in these domains.
Major companies operating in the proactive services market report are Microsoft Corporation, Symantec Corporation, Juniper Network Inc., Avaya Inc., DXC Technology, Hewlett Packard Enterprise Company, Huawei Technologies Co. Ltd., International Business Machines Corporation, Cisco Systems Inc., LivePerson Inc., NICE Systems Ltd., Genesys Telecommunications Laboratories Inc., Amazon.com Inc., NortonLifeLock Inc., Hootsuite, AT&T Inc., Ericsson India Limited, Fortinet Inc., Sutherland Global Services, Accenture PLC, Wipro Limited, Infosys Limited, Capgemini SE, Cognizant Technology Solutions Corporation, Tata Consultancy Services Limited, HCL Technologies Limited, Tech Mahindra Limited, Mindtree Limited, Virtusa Corporation, Larsen & Toubro Infotech
North America was the largest region in the proactive services market share in 2023. The regions covered in the proactive services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the proactive services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The proactive services market includes revenues earned by entities by offering solutions and services designed for the customers that address problems which may not be known to the customer beforehand. Establishments that provide anticipatory customer need and expectation services are included in this market. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.