Rockville, Feb. 23, 2023 (GLOBE NEWSWIRE) -- The global market for tech support services is estimated to be valued US$ 66.3 billion in fiscal year 2023, up from US$ 63 billion in fiscal year 2022. The market is predicted to increase at a 5.3% CAGR from 2023 to 2033, reaching a value of US$ 111 billion by the end of 2033.

The market is expanding due to increased digital technology usage in a variety of end-use sectors, as well as improved social media, digital sites, internet access, and smart computing device penetration. Furthermore, one of the primary factors driving the growth of the tech support services industry is the growing need for cost-effective techniques for increasing effectiveness.

Global digitization has increased the number of software systems, which can be costly to develop in-house. Maintenance and application development help to reduce software costs while also providing the technical skills needed to continue providing better customer service. Automation has changed the way businesses are conducted because most regulations, techniques, and proposals of organizations around the world are reliant on how efficaciously they can modularize every procedure.

The high frequency of cyberattacks in North America is expected to contribute to regional market growth over the forecast period. As per the FBI, CISA, and NSA, the United States is strongly vulnerable to cyberattacks and hacking. In 2021 alone, the FBI, CISA, and NSA recognized attacks comprising ransomware against 14 of the 16 major infrastructure sectors in the US.

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Key Takeaways from the Market Study

“The market is forecast to grow as a consequence of increased digital technology usage across multiple end-use industries. The burgeoning necessity cost-effective methods of boosting productivity is one of the major drivers for the expansion of the market for technical support services,” says Fact.MR’s analyst.

Key Segments Covered in the Tech Support Services Market Report

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Competitive Landscape
The global market is identified by the presence of a large number of international corporations. The vast majority of these companies rely heavily on alliances, partnerships, mergers, and acquisitions. The following are some of the most important inventions made by key players.

Prominent Players in The Global Market

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More Valuable Insights

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The study reveals essential insights based on technical support services market analysis by By Services (Customer Acquisition, Call Center Services, Email & Live Chat Support, Others ( Not Mentioned Elsewhere)), By End-Use Industry (BFSI, Education, Healthcare, Manufacturing, Retails & Consumer Goods, Energy & Utility, IT & Telecommunication, Hospitality, Others (Not Covered Elsewhere)) and by region (North America, Latin America, Europe, East Asia, South Asia and Oceania, And The Middle East & Africa).

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