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Managed Services Market to Reach USD 492.15 Billion by 2027; Significant Requirement for IT Services to Enable Speedy Growth, states Fortune Business Insights™

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Pune, India, July 26, 2021 (GLOBE NEWSWIRE) — According to the report, the global managed services market size is predicted to reach USD 492.15 billion by 2027, exhibiting a CAGR of 12.2% during the forecast period. The growing implementation of IT services in sectors to improve business processes, enhance security and efficiency through automation will significantly promote the growth of the market. The increased efforts of managed service providers (MSPs) towards secure and customized IT solutions for users will propel the market during the forecast period, states Fortune Business Insights in a report, titled “Managed Services Market Size, Share & Covid-19 Impact Analysis, By Services (Voice Services, Non-voice Services and IT Managed Services), By Function (Finance and Accounting (F&A), Marketing, Procurement, Supply Chain, Human Resource (HR) and Information Technology (IT)), By End-user (Medical, Financial, Government, Audit & Consulting, Corporate, Telecommunication, and Insurance & Re-insurance) and Regional Forecast, 2020-2027” the market size stood at USD 200.29 billion in 2019.

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The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

The managed services market report accentuates key points:

  • Descriptive analysis of the impact of the COVID-19 pandemic on the market;
  • Inferential insights on the latest industry trends;
  • All-encompassing assessment of the regions shaping the market; and
  • Wide-ranging information of the Competitors and eminent players in the market


Report Scope and Segmentation:

Report Coverage Details
Forecast Period 2020 to 2027
Forecast Period 2020 to 2027 CAGR 12.2%
2027 Value Projection USD 492.15 Billion
Base Year 2019
Market Size in 2019 USD 200.29 Billion
Historical Data for 2016 to 2018
No. of Pages 140
Segments covered By Services, By Function ,By End User, and By Region
Growth Drivers Increasing Adoption of Managed Security Services (MSS) Based on Cloud
Growing Adoption of Bring Your Own Device (BYOD) Among Organizations Aid to Market Growth
With the rise in the adoption of BYOD, the market is also expected to develop at a significant CAGR.
Pitfalls & Challenges Lack of IT security professionals proving to be Inhibiting Factor for Market Growth

Market Driver:

Growing Cyber Crimes to Enrich Market Potential

The increasing number of cyber threats, involving email viruses, DDOS attacks, man-in-the-middle (MitM) attack, phishing and spear-phishing attacks, password attack, cross-site scripting (XSS) attack, and others will spur demand for the market during the forecast period. Cloud-based MSS provides security against such attacks and enhances the overall workflow in an organization.  The growing necessity to upgrade IT infrastructure in organizations to better cater to need of the business will aid the adoption of the IT services, which, in turn, will augur well for the market. Additionally, the upgradation in IT security by companies will have a tremendous impact on the market in the foreseeable future. For instance, in May 2019, Integrated Telecom Company announced to expand its security services portfolio by introducing a new suite of managed security services (MSS). This MSS Service will assist organizations with incident handling, monitoring, management of ongoing cybersecurity risks, and threat detection.

Click here to get the short-term and long-term impact of COVID-19 on this market.

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Market Restraint

Occurrence of Coronavirus to Deaccelerate Market Expansion

The world economy has faced a major distortion due to the outbreak of COVID-19, affecting sectors, industries, and global wealth. The 2020 GDP is likely to diminish by more than 2%. This will subsequently result in cost cuttings, contingencies, and formulations among various enterprises across the globe. The catastrophe caused by the virus will affect the managed services market growth; however, the cloud applications, AI, security solutions, and Big Data are likely to witness high demand owing to the collective loads from various sectors during the crisis. The implementation of several rules and norms by the IT industry, for example working remotely from home and social distancing, will consequently lighten possibilities for the market. Additionally, the surge in online culture will simultaneously improve prospects and create business opportunities for the market amid COVID-19.

Regional Analysis:

Existence of Distinguished Players to Boost Market in North America

North America generated a revenue of USD 79.01 in 2018 and is expected to grow significantly during the forecast period owing to the presence of eminent market players such as IBM Corporation, Accenture, and Cognizant. The shifting focus of leading market players towards telecommunication, finance, medical sectors will enable healthy growth of the market. The rising adoption of these IT services among small and medium-sized enterprises in the US will augur well for the market in the forthcoming years. The surge in IT budgets will amplify the market in the region. Moreover, the increasing acquisitions and mergers among key players will favor the growth of the market in North America. For instance, in October 2018, Cisco Systems, Inc. acquired Duo Security for USD 2.35 billion to prevent cybersecurity breaches, which will enable the company to secure and connect to any application on the network.

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Key Development:

January 2019 – Ericsson announced the launch of “Ericsson Operations Engine”, an artificial intelligence (AI)-based managed service. This service will help to address the complexity and challenges of managed services. Thus, upholding network design & optimization, application development & maintenance, and network & IT operations.


The Report Lists the Main Companies in the Managed Services Market:

  • International Business Machines Corporation (IBM) (US)
  • Fujitsu Limited (Japan)
  • Telefonaktiebolaget LM Ericsson (Sweden)
  • DXC Technology Company (US)
  • Accenture plc (Ireland)
  • Cognizant (US)
  • Tata Consultancy Services Limited (TCS) (India)
  • Atos SE (France)
  • Capgemini SE (France)
  • Infosys Limited(India)
  • Wipro Limited (India)
  • HCL Technologies Limited (India)


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 Research Report: 

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Detailed Table of Content

  • Introduction
    • Definition, By Segment
    • Research Approach
    • Sources
  • Executive Summary
  • Market Dynamics
    • Drivers, Restraints and Opportunities   
    • Emerging Trends
  • Key Insights
    • Macro and Micro Economic Indicators
    • Consolidated SWOT Analysis of Key Players
  • Global Managed Services Market Analysis, Insights and Forecast, 2016-2027
    • Key Findings / Summary
    • Market Sizing Estimations and Forecasts – By Services
      • Voice Services
      • Non-voice Services
      • IT Managed Services
        • Managed Communication Services
        • Managed Networks & Infrastructure
        • Managed Security
        • Managed Wireless & Mobile Computing
        • Managed Cloud Infrastructure
        • Managed Software as a Service
        • Others (Managed Print Services, Managed Support Services, Data Analytics etc.)
    • Market Size Estimates and Forecasts – By Function
      • Finance and Accounting (F&A)
      • Marketing
      • Procurement
      • Supply Chain
      • Human Resource (HR)
      • Information Technology (IT)
    • Market Size Estimates and Forecasts – By End-user
      • Medical
      • Financial
      • Government
      • Audit & Consulting
      • Corporate
      • Telecommunication
      • Insurance & Re-insurance
    • Market Analysis, Insights and Forecast – By Region
      • North America
      • Europe
      • Asia Pacific (APAC)
      • Middle East & Africa (MEA)
      • Latin America (LATAM)

TOC Continued…!!!


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Have a Look at Related Research Insights:

Enterprise Governance, Risk, and Compliance (eGRC) Market Size, Share & COVID-19 Impact Analysis, By Component (Software and Services), By Deployment Model (Cloud-based, On-premise), By Organization Size (Large Enterprises, and Small and Medium Enterprises (SMEs)), By Vertical (BFSI, Healthcare, Government, Energy & Utilities, Manufacturing, Retail & Consumer Goods, Telecom & IT, and Others), and Regional Forecast, 2021-2028

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Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.

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Pearson augments nursing content with generative AI study tools to improve nursing education and address shortages

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HOBOKEN, N.J., May 17, 2024 /PRNewswire/ — Pearson (FTSE: PSON.L), the world’s leading learning company, today announced the integration of AI study tools into its Nursing: A Concept-Based Approach to Learning series, the only nursing concepts curriculum built from the ground up as a comprehensive, cohesive learning system.

Pearson’s AI study tools combine the power of generative AI technology with trusted Pearson content to provide scaffolded, guided help when students are stuck on homework problems, and personalized explanations, summaries, and practice problems for more efficient studying.
“Integrating AI study tools into our concept-based nursing series enhances the learning experience, giving nursing students and nurse educators the resources they need to efficiently study and master course concepts,” said Anne Fahlgren, GM of Pearson’s professional portfolio. “This technology will help more nursing candidates prepare for and enter the workforce, while also giving nurse educators the means to scale their teaching further, addressing major challenges in nursing education and society.”
The AI study tools beta will be available both in Pearson+ eTextbook and the accompanying MyLab Nursing course in time for Fall 2024. MyLab is an interactive teaching and learning platform, backed by content from Pearson authors. The platform, with integrated eTextbook, allows instructors to design their course, assign homework and assessments, and monitor student progress in real time.
The US is experiencing shortages of nurses and nurse educators. The National Academy of Medicine’s 2021 report on The Future of Nursing: 2020-2030 notes that, in order to provide sufficient care for an aging population over the next decade, a substantial increase in the nursing workforce will be needed that can practice “in community-based settings with diverse populations that face a variety of lived experiences.” The NAM’s report also references hundreds of nursing faculty position vacancies that have contributed to tens of thousands of qualified applicants being turned away from nursing school admission due to the inability to adequately meet student demand.
Concept-based nursing curriculum is designed to focus on key concepts emphasizing a holistic understanding of nursing principles that can be applied across different patient populations, healthcare settings, and situations. This approach strengthens clinical reasoning skills in the course of patient care. Incorporating generative AI tools into Pearson’s concept-based nursing content supports nurse educators in scaling their teaching and students’ ability to study more efficiently.
Dr. Michelle Aebersold, University of Michigan School of Nursing Clinical Professor and contributor to Nursing: A Concept-Based Approach to Learning, said “Technological advancements like generative AI are transforming the nursing profession. The ability to adapt in a rapidly changing environment is a critical healthcare skill, whether it’s in the course of patient care or in preparing our future nurses for the workforce. The ability of the AI study tools to provide a more user-centered, customized experience is a huge benefit for our students. I’m glad they will have access to Pearson’s AI tools that accommodate the variety of ways students learn and provide personalized support in the moment students need it most. This is the future of individualized learning.”
A Fall 2023 survey of students using Pearson’s AI study tools beta showed strong levels of engagement, with 75% of respondents saying the tools were helpful or very helpful to their studies.
The inclusion of generative AI study tools further solidifies Pearson’s dedication to providing the most comprehensive and effective learning and teaching resources for nursing students and nurse educators across the US. Pearson’s AI study tools are already available in more than 30 Pearson Mastering titles and are set to be integrated into more than 40 Pearson+ eTextbooks and MyLab and Mastering titles across math, science, business, and nursing for August of 2024.
Pearson is committed to investing in the responsible application of AI to advance product innovation and enhance the learning experience to educate, certify, and credential students and the workforce.
Pearson product experts are available to demo the AI study tools for members of the media. Please request demonstrations with the media contact below.
About Pearson
At Pearson, our purpose is simple: to add life to a lifetime of learning. We believe that every learning opportunity is a chance for a personal breakthrough. That’s why our c. 18,000 Pearson employees are committed to creating vibrant and enriching learning experiences designed for real-life impact. We are the world’s leading learning company, serving customers in nearly 200 countries with digital content, assessments, qualifications, and data. For us, learning isn’t just what we do. It’s who we are. Visit us at pearsonplc.com.
Media [email protected]
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Brainomix Achieves Breakthrough with FDA Clearance of e-Lung AI Software

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Established market leader in stroke AI imaging receives its first FDA clearance in the lung imaging space.With this expanded foundation of AI-driven healthcare solutions, the Oxford-based company remains committed to driving innovation and delivering impactful advancements in imaging biomarkers.OXFORD, England, and CHICAGO, May 17, 2024 /PRNewswire/ — Brainomix, a pioneer in artificial intelligence (AI) imaging solutions to enable precision medicine, is proud to announce the FDA clearance of its latest product, Brainomix 360 e-Lung. Brainomix’s entry into the lung imaging space follows a series of successful clearances and widespread clinical adoption of its Brainomix 360 Stroke platform in both the US and Europe.

The clearance of e-Lung marks a significant milestone in Brainomix’s journey to expand its footprint in medical imaging beyond stroke-related applications and represents a notable step forward in the quest for advanced lung imaging solutions. The company, with its rich academic heritage and record of scientific excellence, will expand its research collaborations in the pulmonology space to yield new insights to inform future iterations of e-Lung and chart a path towards continual improvements for the lung imaging technology.
Dr Deji Adegunsoye, Assistant Professor of Medicine and Scientific Director of the Interstitial Lung Disease Program at University of Chicago Medicine, said: “This is an exciting step for Brainomix, who have a demonstrated track record of developing novel AI-based solutions in stroke and are now applying that expertise to develop innovative tools in the lung space. The preliminary data for e-Lung is impressive and would indicate that we have a promising tool that could help to expedite healthcare delivery and improve clinically meaningful outcomes for patients with lung disease.”
Brainomix recently announced the publication of a new study1 in the prestigious peer-reviewed journal American Journal of Respiratory and Critical Care Medicine (AJRCCM), resulting from a research collaboration with AstraZeneca. The results showed that Brainomix’s proprietary lung imaging biomarkers, which include the weighted reticulovascular score (WRVS), stratified patients at risk of Idiopathic Pulmonary Fibrosis (IPF) progression, outperforming standard measures.
Dr Michalis Papadakis, CEO and Co-Founder of Brainomix, said: “We are harnessing our expertise in AI-powered imaging to develop novel biomarkers in other disease indications where AI can support imaging-based diagnostic and treatment decisions.
“This e-Lung FDA clearance reflects our focus on developing innovative solutions that empower healthcare professionals with cutting-edge tools for sophisticated disease evaluation, enhancing access to treatments that can ultimately work to improve patient outcomes.”
Brainomix will be presenting its latest e-Lung data at the American Thoracic Society (ATS) annual conference in San Diego May 17th – 22nd, including results from research collaborations with Heidelberg University and with Seattle-based Avalyn Pharma.
Am. J. Respir. Crit. Care Med.: 2024 Feb 16 – e-Lung CT Biomarker Stratifies Patients at Risk of IPF Progression in a 52-Week Clinical Trialhttps://www.atsjournals.org/doi/abs/10.1164/rccm.202312-2274LEAbout Brainomix
Brainomix specializes in the creation of AI-powered software solutions to enable precision medicine for better treatment decisions in stroke and lung fibrosis. With origins as a spin-out from the University of Oxford, Brainomix is an expanding commercial-stage company with offices in the UK, Ireland and the USA, and operations in more than 30 countries. A private company, backed by leading healthtech investors, Brainomix has innovated award-winning imaging biomarkers and software solutions that have been clinically adopted in hundreds of hospitals worldwide. Its first product, the Brainomix 360 stroke platform, provides clinicians with the most comprehensive stroke imaging solution, driving increased treatment rates and improving functional independence for patients.
To learn more about Brainomix and its technology visit www.brainomix.com, and follow us on Twitter, LinkedIn and Facebook.
Contacts
Jeff Wyrtzen, Chief Marketing & Business Development [email protected] +44 (0)7927 164210T +44 (0)1865 582730
Media enquiries
Charles ConsultantsSue [email protected] M +44 (0)7968 726585
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CUBE acquires global regulatory intelligence businesses from Thomson Reuters

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LONDON, May 17, 2024 /PRNewswire/ — CUBE, a global leader in Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM), announces today its acquisition of the Thomson Reuters Regulatory Intelligence and Oden products and businesses.

The acquisition of these global businesses represents a major step forward in CUBE’s growth plans. It will deliver significant scale across many of the world’s leading and systemically important financial institutions. CUBE’s existing global customer base will be expanded to total approximately 1,000 customers in banking, insurance, asset and investment management, payments and adjacent regulated industries.
CUBE’s global employees will expand to 600, of which close to 250 are highly qualified regulatory subject matter experts, legal and compliance professionals.
Ben Richmond, founder and CEO of CUBE said: “Thomson Reuters is known to be the biggest and best in the industry for providing regulatory expert analysis and subject matter expertise, alongside world-leading journalism and news. The combination of CUBE’s purpose-built AI, with the years of content curated by Thomson Reuters Regulatory Intelligence and Oden expert analysts, will accelerate innovation. Together, we will deliver regulatory transformation capabilities for our global customers that could only have been imagined before.”
Richmond continues: “This combination will provide tremendous scale and depth across CUBE’s regulatory content and technology. It is a significant step toward creating an industry-defining regulatory compliance and risk platform that will benefit all customers and elevate the industry as a whole.”
Through this acquisition, CUBE will provide an expanded and comprehensive selection of specialized regulatory intelligence and regulatory change services, committed to excellence, quality, and highly contextualised and meaningful regulatory content for customers. By combining cutting-edge technology and subject matter expertise at scale CUBE will set a new bar for the industry in regulatory automation and content.
Chris Maguire, General Manager, Risk and Fraud, Corporates, Thomson Reuters said: “It was clear to us that CUBE had established itself as a leading regulatory intelligence provider for global enterprise clients in the financial services and insurance sectors. We wanted to ensure our customers and employees could work with an organisation that would continue to innovate and significantly invest in solutions like Thomson Reuters Regulatory Intelligence and Oden. We are working tirelessly to ensure a seamless and value-enhancing transition for customers and employees, and we are looking forward to working with the CUBE team during this transition.” 
Christopher Fielding, Hg, said: “We’re delighted to further extend our market reach, bringing in two high quality and complementary global businesses to the CUBE platform.”
Thomas Martin, Hg, added: “We see these acquisitions as enabling further innovation in the regulatory intelligence and change management sector, leading to strengthened demand for these quality solutions across the globe.”
The terms of the transaction will not be disclosed.
About CUBE
CUBE provides a highly comprehensive and robust source of classified, and meaningful AI-driven regulatory data to power its Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM) solutions. CUBE’s purpose-built regulatory technology including its AI engine (RegBrain) and software platform (RegPlatform) tracks, analyses, and monitors laws, rules, and regulations in every country and in every published language to create an always up-to-date regulatory footprint that transforms visibility and compliance capability for customers across the globe.
With operations across Europe, North America, Canada, Asia, and Australia, CUBE serves a diverse and global base of customers and partners including the largest financial institutions in the world who leverage CUBE’s platform to streamline their complex regulatory intelligence and change management processes.
Following the strategic partnership with Hg in March 2024, CUBE announced the acquisition of US-based Reg-Room in May 2024.
About Hg
Hg supports the building of sector-leading enterprises that supply businesses with critical software applications or workflow services, delivering a more automated workplace for their customers.
This industry is characterised by digitisation trends that are in early stages of adoption and are set to transform the workplace for professionals over decades to come. Hg’s support combines deep end-market knowledge with world class operational resources, together providing compelling support to entrepreneurial leaders looking to scale their business – businesses that are well invested, enduring and serve their customers well.
With a vast European network and strong presence across North America, Hg’s 400 employees and around $70 billion in funds under management support a portfolio of around 50 businesses, worth over $140 billion aggregate enterprise value, with over 110,000 employees, consistently growing revenues at more than 20%.
About Regulatory Intelligence
Regulatory Intelligence is a proactive, connected, and comprehensive solution that tracks and analyses regulatory changes within ~2,000 regulatory bodies and rulebooks for more than 20 countries. It enables banking, financial services, and insurance (BFSI) sectors to manage exposure to operational, regulatory, and compliance risk.
About Oden
Oden State Rules and Regulations (SR&R), Oden Policy Terminator/Sentry PT, and OdenTrack provide repositories and automated solutions for complying with state rules and regulations on the provisioning of Personal and Business Insurance in the US.

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