Global Proactive Services Market by Technology (Artificial Intelligence, Analytics) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global proactive services market was worth USD 2.69 billion in 2019. It is projected to grow at an annual compound growth rate (CAGR of 18.7%) between 2020 and 2027. One of the driving factors for market growth is the rising trend in understanding consumer behavior and needs. The rapid adoption of smartphones and e-commerce is also helping to boost growth. Omnichannel services are also in demand due to the increasing use of digital customer experiences. Globally, the rising concern about safety and security is driving the demand to provide proactive services.

Proactive services are designed to meet customer needs, enhance customer relationships and increase customer value. These services give customers the information they need and help them to resolve any issues that may arise. Customers can help themselves with proactive services, which ultimately improves customer satisfaction. These factors result in increased customer satisfaction which ultimately contributes to market growth.

Market growth is expected to be driven by increasing adoption of machine learning and data analytics, as well as artificial intelligence (AI), IoT (Internet of Things) and artificial intelligence (AI). Companies can use the collected data to predict future patterns and make predictions about their customers. Amazon, Google, and Microsoft are investing in these technologies to better understand their customers' preferences and behavior. Slack bots are also having a positive effect on the market. They help to analyze the success rate of ads or content posted on different media platforms by comparing them to similar posts.

Companies face major challenges when implementing change within their organization. Information Technology (IT), infrastructure is essential for any company. It makes IT infrastructure more efficient and effective, which in turn helps to improve business performance. It is essential to implement proactive services at all levels of the organization to increase performance. It can be difficult for both service providers and end users to adopt new technologies and manage the IT operations with proactive services. Organizations face two major challenges: improving service delivery and effective utilization of IT resources.

End users of proactive services may face challenges in managing their costs while they adopt new technologies. Organizations should be able to provide self-diagnostic tools and proactive and preventive service delivery. They can also offer omnichannel communication and tools for upgrade management. It is possible to reduce costs by expanding existing service packages and using cost-saving methods. This will help overcome the difficulties associated with managing proactive IT services. Market growth is also impeded by a lack of skilled professionals, and increasing privacy attacks.

COVID-19 has caused customers to be concerned about COVID-19. These concerns include anxiety about going to a store or buying the product, delivery on time, delays in delivery and customer hesitancy when making commitments. These concerns can lead to increased call volume, stress on the company's staff, as well as increase costs. Companies can offer proactive services to address customer issues. This can help build trust and strengthen relationships. These services are vital now more than ever, as customers have high needs and sensibilities. The proactive services market will experience significant growth as more companies adopt these services to protect their customers and solve their problems proactively.

Service Insights

Managed services made up the largest portion of 2019's market share, accounting for more than 35%. Managed services help reduce operating expenses and improve operational efficiency. They also allow businesses to focus on their core competencies. It helps in optimal resource distribution and utilization to increase operational efficiency and overall profitability. Companies are also required to continuously innovate and upgrade their infrastructure in order to remain competitive due to rapid digitalization. The managed services sector will also benefit from technological advancements like cloud computing and big-data.

The fastest growth is expected in the technical support segment during the forecast period. Technology is constantly evolving in today's environment, which means that the system will be upgraded continuously. Organizations are forced to look to service providers to offload their IT problems, such as technical support and daily competition. As organizations require vendor support for technical issues, proactive services must be kept up to date with technological changes. This has led to a faster growth in technical support.

Technology Insights

Analytics dominated the market, accounting for more than half of the 2019 revenue share. Analytics solutions can handle large amounts of data. An analytics-led proactive service model allows users to achieve active client care. Predictive analytics is used by organizations to analyze trends and probabilities, as well as to measure variables that can be used to predict customer behavior in the future. Analytics allows organizations to analyze historical and recent anomalies in order to identify root causes. This can help them create strategies to prevent future ones. Companies have adopted analytics solutions to increase their market share. This is because they are able to collect more data and analyze it.

The AI segment will account for the largest CAGR, as more brands adopt this technology to provide personalized customer experiences. This technology allows brands to understand customers and find opportunities for cross-selling or upselling. AI allows brands and individuals to deliver what customers want faster, with greater precision and accuracy. Customers will save time by using self-service. AI allows customers to complete simple tasks seamlessly and automatically. Chatbots can answer customers' most frequently asked questions and help them with their queries. AI has a lot potential for customer service and these companies are making this shift.

Enterprise Insights

In 2019, the market share for large enterprises will be around 60%. Large enterprises can afford to use proactive services on-premises. They are opting for cloud deployment to reap the benefits of high scalability and increased availability as well as low deployment costs. Large enterprises have the financial ability to implement digital strategies across their businesses, and accelerate digital transformation across all sectors. These services are being adopted by increasing numbers of financial institutions, such as banks and insurers, to lower operational costs and reduce incident alarms.

Over the forecast period, the small and medium business segment will experience the greatest CAGR at more than 20%. SME face many difficulties, including a lack of skilled workforce, the need for domain-specific technical personnel and budget constraints. They also have limited economies of scale and scalability. Factors such as cloud computing's increased importance and the lower cost of devices are key factors in the growth. This makes it easier for SMEs to stabilize businesses. As SMEs increasingly turn to proactive services to improve network performance and make better decisions about growth, the number of vendors that offer solutions for SMEs is increasing.

Application Insights

As organizations implement customer experience management to retain customers, the segment with the largest market share is likely to be around 25%. A better customer experience can also help attract new customers. Network management applications are gaining momentum because companies recognize that they are the best way to prevent unplanned IT infrastructure problems. Unplanned IT infrastructure failures can cause significant losses for organizations. If they happen repeatedly, it can also have an effect on company revenues.

Cloud management is forecast to grow at a higher CAGR of over 20% during the forecast period. Cloud management proactive services reduce the amount of human effort required to manage and monitor infrastructure and applications. Cloud management provides a proactive service that monitors the health and status across all tiers of IT infrastructure. It alerts on problems, troubleshoots, and then resolves them before they impact end-users. Cloud management is seeing remarkable growth due to its ability to provide global visibility.

End-use Insights

In 2019, the BFSI segment held a market share exceeding 21%. BFSI is a highly risky sector that deals with sensitive financial data. The sector has seen a large-scale adoption and growth of proactive services. Digitalization has also changed customer behavior and customers now require immediate service. BFSI organizations can reduce costs without compromising customer satisfaction by using proactive services.

Retail is one of the fastest growing verticals when it comes to adopting new technologies such as analytics, DevOps and artificial intelligence. Companies can use these emerging technologies to predict the buying habits of their customers by using data. Amazon and other companies are investing in these technologies to better understand their customers' preferences and to help them target their products more effectively. Retail is also being driven by customer satisfaction and retention.

Regional Insights

Due to technological advances and increased government investment in the development of machine learning, artificial intelligence (AI), IoT and artificial intelligence (IoT), the North American region was the dominant market. It accounted for 35% of the total revenue share. The region's market growth is also aided by the presence of leading market players. Most companies in the region have IT support that is flexible and active for proactive services. Technology enhancements, stable economies, and an optimized infrastructure cost are other factors that drive the region's growth.

Asia Pacific will be the fastest-growing region with a CAGR rate of 21.0% in the next eight years. This is due to the rapid expansion of the service sector and the increasing number of startups. Regional market growth is being driven by the application of customer engagement technology and analytics in different end-use industries, and increased investments in emerging technologies made by the governments of the countries of the region. Companies use proactive services to enhance and organize their business processes and make informed business decisions. The market is also growing due to rising mobile users, e-commerce growth, and increased use of social media analytics.

Market Share Insights & Key Companies

To further enhance their market position, major industry players have used a variety of organic and inorganic growth strategies to increase their strength, including partnerships and collaborations as well as new product launches and mergers and acquisitions. In February 2018, Symantec Corporation announced that it would partner with Microsoft Corporation in order to provide additional protection for Microsoft Azure. This will allow customers to be protected against cyber threats, control and protect their cloud use, and prevent data leaks. The market for proactive services includes:

• 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.

Up Market Research published a new report titled “Proactive Services Market research report which is segmented by Technology (Artificial Intelligence, Analytics), By Players/Companies DXC Technology Company, Microsoft Corporation, Juniper Network Inc, Fortinet Inc, IBM Corporation, Cisco Systems Inc, Hewlett Packard Enterprise Company, Avaya Inc, Huawei Technologies Co Ltd, Symantec Corporation”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Proactive Services Market Report Segments:

The market is segmented by Technology (Artificial Intelligence, Analytics).

Proactive Services Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Proactive Services Market

Overview of the regional outlook of the Proactive Services Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Proactive Services Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Proactive Services Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Artificial Intelligence

                2. Analytics

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Proactive Services Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Proactive Services Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.