The market for managed internet protocol-based services is set to grow at an annual rate of 18 per cent to the extent that it delivers revenues of $66 billion (£33 billion) by 2012, according to a new study.

Research carried out by software consultancy Ovum found that global companies are increasingly adopting managed IT and communication services.

Peter Hall, Ovum's research director, said: "Chief information officers and IT directors are increasingly looking to service providers and managed service specialists for deployment and management of their networks to reduce costs and improve efficiency.

"This results in significant opportunities for those able to meet those needs, especially in the areas of managed voice and security."

Last week, IT analyst Gartner predicted the global information and communications technology industry could become a 'borderless state' by 2015.

Experts at the company claimed that organisations will increasingly pay less attention when sourcing their software, hardware, telecommunications and IT services requirements.



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