The global Proactive Services market size is expected to be worth around US$ 10.40 billion by 2028, according to a new report by Vision Research Reports.
The global Proactive Services market size was valued at US$ 2.68 billion in 2020 and is anticipated to grow at a CAGR of 18.6% during forecast period 2021 to 2028.
Growth Factors
The major factors driving the growth are the huge costs incurred because of unplanned IT outages, growing cyber threats and attacks, and increasing focus toward delivering better customer experience. Proactive services are helping organizations in identifying and solving these problems before they occur.
Organizations are offering self-service option with integrated knowledge as a part of their proactive strategy, which helps in reducing the time to resolve problems. These services also help in reducing cost as it cuts down the operating cost of running call centers. For instance, live chat facilities as a part of proactive services serve to be an effective communication channel for the company’s existing and potential customers. This has resulted in increasing sales and improving customer satisfaction.
The global rise in urbanization and digitization has made businesses to switch towards employing solutions driven by technology to achieve the fast business growth. The cloud technology usage allows various SMEs to implement modern solutions at reasonable prices without any need of frequently replace or upgrade the systems. Furthermore, factors such as improvement in operational flexibility and enhancement of customer experience are supporting the market growth along with the identification of new revenue sources.
Report Highlights
The managed services accounted for the largest share of over 35% in 2019. It helps in reducing operating expenses, improve operational efficiency, and assist businesses to concentrate on core competencies. It assists in ideal resource distribution and utilization to augment the operational efficiency and overall profitability. Moreover, owing to rapid digitalization, the companies are obliged to continually innovate and improve their infrastructure to stay competitive. Technological advancements such as cloud computing and big data are also expected to drive the growth of the managed services segment.
The analytics segment led the market and accounted for more than 50% of the revenue share in 2019. Analytics solutions are designed to handle data on a massive scale. Analytics led proactive service model helps users in achieving active client care. Organizations use predictive analytics to look at trends and probabilities, measuring variables to predict how customers will behave in future. Using analytics, organizations can analyze recent and historical anomalies to determine root causes so that strategies can be created for preventing recurrence. The more analytics are collected and analyzed, the better the predictive capabilities become and hence, companies have adopted for analytics solutions, which has led to its market dominance.
The large enterprise segment is expected to account for the highest market share of around 60% in 2019. Large enterprises have the required budget to use on-premises proactive services. However, they are moving for the cloud deployment method to avail benefits, such as high scalability, increased availability, and low cost of deployment. Also, owing to robust financial capability, large enterprises can implement digital strategy across businesses and accelerating digital transformation across different sectors. Increasing number of financial institutions such as banks and insurance companies have adopted these services to reduce operational costs and reduce incident alarms.
The customer experience management segment is expected to account for the highest market share of around 25% over the forecast period as organizations adopt this to retain customers. Additionally, improved customer experience helps in spreading good word of mouth, which can help in attracting new customers. The network management application is gaining significant momentum as companies have recognized that it is the best way to avoid unplanned IT infrastructure failures. Any unplanned IT infrastructure failure may result in a substantial loss to organizations and if the failures are recurrent then it can have an impact on the company's revenues.
The BFSI segment accounted for a market share of over 21.01% in 2019. The BFSI sector is always at a high risk level as it always deals with critical financial data. Hence, the sector has witnessed large-scale adoption of proactive services and at the same time provides extensive growth opportunities due to the globalization of financial services. Furthermore, digitalization has changed customer practices and hence, customers require instant service. Proactive services significantly help BFSI organizations to lower the cost without compromising with customer satisfaction.
Asia Pacific is estimated to emerge as the fastest-growing region at a CAGR of 21.01% over the next eight years, owing to the rapidly expanding service sector and an increasing number of startups. The application of customer engagement technologies and analytics in various end-use industries and increasing investments in emerging technologies by governments of the countries in the region is driving the regional market growth. Proactive services are adopted by companies to improve and organize business processes and perform informed business decision making. Furthermore, the rising mobile users, growing e-commerce, and growing use of social media analytics are some of the factors fueling the growth of the market in the region.
Key Players
Microsoft Corporation
Symantec Corporation
Fortinet, Inc.
Juniper Network, Inc.
Avaya Inc.
DXC Technology Company
Hewlett Packard Enterprise Company
Huawei Technologies Co., Ltd.
IBM Corporation
Cisco Systems, Inc.
Market Segmentation
Service Outlook
Design & Consulting
Managed Services
Technical Support
Technology Outlook
Analytics
Artificial Intelligence
Others
Enterprise size Outlook
Large Enterprise
Small & Medium Enterprise
Application Outlook
Cloud Management
Customer Experience Management
Data Center Management
End-point Management
Network Management
Others
End-use Outlook
BFSI
Government
Healthcare
Manufacturing
Media & Communications
Retail
Others
Regional Outlook
North America
The U.S.
Canada
Europe
Germany
The U.K.
Asia Pacific
China
India
Japan
Latin America
Brazil
MEA
The Proactive Services market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Proactive Services market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Proactive Services market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Proactive Services market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Proactive Services market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Proactive Services capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Proactive Services by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Proactive Services market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Proactive Services market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Proactive Services market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Proactive Services industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Proactive Services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Proactive Services market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Proactive Services market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Proactive Services market. These factors have benefited the growth of the global market for Proactive Services. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Proactive Services. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Proactive Services are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers