A managed service provider (MSP) is a company that takes ongoing operational responsibility for part of a client's information technology, such as data-centre and cloud infrastructure, end-user devices, networks, security monitoring or business applications, usually under a multi-year contract priced per service or per unit. Accenture, the largest firm in this list, describes its managed services contracts as typically spanning several years, with revenue recognised over time as the services are performed.
This list covers the largest publicly reporting providers of enterprise managed IT services, ordered by total revenue in their most recent completed fiscal year as stated in annual reports, regulatory filings or official results releases. Only Accenture reports managed services as a separate revenue line, so for most companies the ranking reflects total revenue rather than managed services revenue alone.
Contents
- What managed service providers do
- Methodology
- The list
- Comparison table
- Market trends
- Frequently asked questions
- See also
What managed service providers do
Enterprise MSPs generally operate in three overlapping areas. Infrastructure services cover data centres, mainframes, private and public cloud environments, networks and storage; Kyndryl, formed from IBM's infrastructure services unit, and DXC's Global Infrastructure Services segment are examples. Application management covers maintaining and changing business software after it goes live. Workplace and security services cover service desks, end-user devices and security operations; Unisys, for instance, reports a Digital Workplace Solutions segment.
Contracts are typically long. Accenture notes that managed services bookings convert to revenue over a longer period than consulting bookings, and that most managed services contracts require a longer termination notice period and often include an early termination charge. This makes the choice of provider a longer-term commitment than a project engagement.
Methodology
Companies were included if their published filings or results describe managed infrastructure, cloud, application or workplace operations as a core service, and if they publish audited or official annual revenue. Entries are ordered by total revenue in the most recent completed fiscal year available on 12 November 2026: fiscal years ending August 2026 (Accenture), March 2026 (TCS, Infosys, Kyndryl, HCLTech, DXC, Wipro) and December 2025 (Capgemini, Cognizant, Atos, Rackspace, Unisys).
Figures are shown in each company's reporting currency. Where currencies differ, the order was checked to hold at any euro or rupee exchange rate seen in 2025–2026; for Wipro, the U.S.-dollar convenience translation in its own 20-F filing was used. Most companies do not report managed services revenue separately, so total revenue is a proxy for scale, not a measure of managed services size. Unlisted providers, providers that do not publish revenue, and the managed services units of conglomerates that do not break the figure out (for example NTT DATA and Fujitsu, which report in yen and were not assessed here) are excluded. No client names are given because most of these providers do not publish named managed services clients in their filings.
The list
1
A
Largest listed IT services firm; managed services is half of revenue
Best for: Large enterprises consolidating applications, infrastructure and operations under one contract
Accenture reported revenues of US$74.18 billion for the fiscal year ended 31 August 2026, of which US$37.30 billion came from its managed services business and US$36.88 billion from consulting. It is one of the few providers in this list that reports managed services as a separate revenue line. According to its annual report, managed services revenue grew 8% in U.S. dollars in fiscal 2026, and the work covered includes application development and maintenance and infrastructure management, including cloud and security. The company states that its managed services contracts typically span several years and that most of them require a longer termination notice period than consulting work. Accenture had approximately 814,000 people at the end of fiscal 2026 and serves clients in more than 120 countries; its principal executive offices are in Dublin, Ireland, where it is incorporated.
- Revenue (FY2026)
- US$74.18bn (year to 31 Aug 2026)
- Managed services revenue (FY2026)
- US$37.30bn
- Employees
- c. 814,000 (31 Aug 2026)
- Headquarters
- Dublin, Ireland
Strengths
- Discloses managed services revenue separately, so the size of the business is verifiable
- Breadth across applications, infrastructure, security and operations
Limitations
- Multi-year contracts and early-termination charges make exit costly
- Scale and pricing are aimed at large enterprises rather than mid-market buyers
2
TC
India's largest IT services company by revenue in this list
Best for: Long-running application and infrastructure outsourcing at global scale
Tata Consultancy Services, part of the Tata group, was established in 1968 and describes its work as spanning the full technology stack "from infrastructure to intelligence". The Tata group reports that TCS operates 194 service delivery centres and has staff in 56 countries. For the fiscal year ended 31 March 2026 TCS reported revenue of ₹2,67,021 crore; Business Today reported a closing headcount of 5,84,519. The company reports in Indian rupees, and its fiscal 2026 revenue declined slightly in U.S.-dollar terms even as rupee revenue grew, a result of currency movements. TCS does not report a separate managed services revenue line, so the share of revenue from run-and-operate contracts cannot be isolated from its application development, consulting and business process work.
- Founded
- 1968
- Revenue (FY2026)
- ₹2,67,021 crore (year to 31 Mar 2026)
- Headcount
- 5,84,519 (Q4 FY2026)
- Delivery centres
- 194
Strengths
- Very large delivery capacity across 56 countries
- Long operating history as part of the Tata group
Limitations
- No separate disclosure of managed services revenue
- Revenue reported in rupees, which complicates comparison with USD-reporting peers
3
Paris-listed group that expanded through the WNS and Cloud4C acquisitions
Best for: European enterprises wanting a Europe-headquartered provider
Capgemini reported 2025 revenues of €22,465 million, up 1.7% on a reported basis, in results published in Paris on 13 February 2026. Headcount reached 423,400 at the end of 2025, an increase of 82,300 that the company attributed mainly to the integration of WNS staff. Both the WNS and Cloud4C acquisitions closed at the end of 2025 and were consolidated in the fourth quarter; the group invested €3.8 billion in acquisitions during the year. Capgemini describes itself as having nearly 60 years of heritage and operations in more than 50 countries. The company does not break out a managed services figure in its results release, so its position here reflects total group revenue.
- Revenue (FY2025)
- €22,465m
- Headcount
- 423,400 (end of 2025)
- Countries
- More than 50
Strengths
- Large European footprint
- Acquisitions of WNS and Cloud4C added operations and cloud capacity
Limitations
- Recent large acquisitions are still being integrated
- No separate managed services revenue disclosure
4
New Jersey-based provider with a large India delivery workforce
Best for: Healthcare and financial-services firms outsourcing application and IT operations
Cognizant reported full-year 2025 revenue of US$21,108 million, up 7.0% year on year. By segment, health sciences contributed US$6,347 million, financial services US$6,173 million, products and resources US$5,285 million and communications, media and technology US$3,303 million. The company describes itself in its annual report as one of the world's leading professional services companies, helping clients modernise technology and processes. It had approximately 351,600 employees at 31 December 2025, of whom 256,900 were in India and 41,600 in North America. Its principal executive offices are in Teaneck, New Jersey. As with most Indian-heritage providers, managed services are delivered within its industry segments rather than reported separately.
- Revenue (FY2025)
- US$21,108m
- Employees
- c. 351,600 (31 Dec 2025)
- Headquarters
- Teaneck, New Jersey, US
Strengths
- Deep concentration in health sciences and financial services
- U.S. listing and SEC reporting give detailed disclosure
Limitations
- Workforce heavily concentrated in India, relevant for data-residency requirements
- Managed services not disclosed as a separate line
5
Bengaluru-based provider with cloud and infrastructure services
Best for: Application management combined with cloud and infrastructure operations
Infosys was founded in 1981 and is headquartered in Bengaluru, India; it listed in India in 1993 and on a U.S. exchange in 1999. Its revenue for fiscal 2026 (year to 31 March 2026) was US$20,158 million, and net profit was US$3,316 million. In fiscal 2026, 56.1% of revenue came from North America and 32.1% from Europe, and 27.9% came from financial services and insurance clients. The service lines listed in its annual report include application management services, cloud and infrastructure services, support and integration services, business process management and cybersecurity. Total employees stood at 328,594 on 31 March 2026.
- Founded
- 1981
- Headquarters
- Bengaluru, India
- Revenue (FY2026)
- US$20,158m (year to 31 Mar 2026)
- Employees
- 328,594 (31 Mar 2026)
Strengths
- Reports in U.S. dollars under IFRS in its 20-F, easing comparison
- Defined cloud and infrastructure service line
Limitations
- Revenue concentrated in financial services and North America
- No standalone managed services revenue figure
6
K
Infrastructure services business spun off from IBM in 2021
Best for: Mainframe, data-centre and hybrid-cloud infrastructure operations
Kyndryl was formed in November 2021 through the spin-off of the infrastructure services unit of IBM's Global Technology Services segment. It describes itself in its annual report as the world's largest IT infrastructure services provider, a claim made by the company. For the fiscal year ended 31 March 2026 it reported revenue of US$15.1 billion, flat on a reported basis and down 3% in constant currency; signings were US$13.5 billion. The company recognised US$1.9 billion of hyperscaler-related revenue, up 59%, and its Kyndryl Consult advisory business generated US$3.5 billion, up 18%. It had approximately 72,000 employees in 60 countries at the end of the fiscal year, and its principal executive offices are in New York. Service delivery runs through its Kyndryl Bridge platform.
- Formed
- November 2021 (spin-off from IBM)
- Revenue (FY2026)
- US$15.1bn (year to 31 Mar 2026)
- Employees
- c. 72,000 (31 Mar 2026)
- Headquarters
- New York, US
Strengths
- Pure-play infrastructure services focus
- Growing hyperscaler-related revenue shows cloud partnership activity
Limitations
- Revenue declined 3% in constant currency in fiscal 2026
- Signings fell from the prior year's record
7
H
Indian provider with IT infrastructure, cloud and digital-workplace services
Best for: Infrastructure, network and digital-workplace outsourcing
HCLTech reported fiscal 2026 revenue (year to 31 March 2026) of US$14.7 billion, up 6% in U.S. dollars and 3.9% in constant currency. IT and business services grew 3.7% in constant currency and engineering and R&D services 9.8%; the total contract value of new deal wins for the year was US$9.3 billion. The company states it has more than 227,000 people across 60 countries. Its published service catalogue includes IT infrastructure, cloud, cybersecurity, digital workplace, networks and a unified service management offering. HCLTech also owns a software business, HCLSoftware, whose annual recurring revenue was US$1.05 billion at the end of the year, slightly down in constant currency.
- Revenue (FY2026)
- US$14.7bn (year to 31 Mar 2026)
- Employees
- More than 227,000
- Countries
- 60
Strengths
- Broad infrastructure portfolio including networks and digital workplace
- Grew revenue in both USD and constant currency in fiscal 2026
Limitations
- Software arm (HCLSoftware) declined slightly, adding product exposure
- FY2027 growth guidance of 1% to 4% is modest
8
Formed in 2017 from CSC and HPE's enterprise services business
Best for: Organisations running legacy estates that need ongoing infrastructure operation
DXC Technology was formed on 1 April 2017 through the merger of Computer Sciences Corporation and Hewlett Packard Enterprise's enterprise services business. It reported total revenue of US$12.64 billion for the fiscal year ended 31 March 2026, down 1.8% year on year and 4.8% on an organic basis. Its Global Infrastructure Services segment, which houses its managed infrastructure work, was the largest at US$6,342 million, ahead of Consulting and Engineering Services at US$5,023 million and Insurance Software and Services at US$1,279 million. The company cites managed infrastructure services and application modernisation among its areas of expertise. It reports approximately 115,000 employees in 60 countries and has its principal executive offices in Ashburn, Virginia.
- Formed
- 1 April 2017 (CSC and HPES merger)
- Revenue (FY2026)
- US$12.64bn (year to 31 Mar 2026)
- Employees
- c. 115,000
- Headquarters
- Ashburn, Virginia, US
Strengths
- Discloses infrastructure services as its own segment
- Long heritage through CSC and HP enterprise services
Limitations
- Revenue has declined organically and missed its own Q4 guidance
- Guidance for fiscal 2027 points to a further organic decline
9
Bengaluru-based group with a Cloud, Infrastructure and Security Services unit
Best for: Combined infrastructure, network and security operations
Wipro was incorporated on 29 December 1945 as Western India Vegetable Products Limited and is headquartered in Bengaluru. For the fiscal year ended 31 March 2026 it reported revenues of ₹926,240 million, equal to US$9,871 million at the convenience-translation rate used in its annual report. IT services segment revenue rose 3.71% in rupees but declined 1.6% in constant currency. Its Cloud, Infrastructure and Security Services (CISS) line combines cloud, infrastructure, network, digital-workplace and cybersecurity capabilities and states that it designs, builds and operates digital foundations for clients. Approximately 62% of IT services segment revenue comes from the Americas and 27% from Europe.
- Founded
- 1945 (as Western India Vegetable Products)
- Headquarters
- Bengaluru, India
- Revenue (FY2026)
- ₹926,240m / US$9,871m convenience translation
Strengths
- Dedicated infrastructure and security service line (CISS)
- Detailed U.S. 20-F disclosure
Limitations
- IT services revenue fell in constant currency in fiscal 2026
- Smaller scale than the larger Indian peers
10
French provider operating the Atos services and Eviden product brands
Best for: European public-sector and sovereign-cloud requirements
Atos Group reported 2025 revenue of €8,001 million, down from €9,577 million in 2024 and down 13.8% organically, in results published in Paris on 6 March 2026. The services brand, Atos, generated €6,963 million, while the Eviden product brand grew 6.7% to €1,039 million. The group operating margin was €351 million, or 4.4% of revenue, but net income attributable to the group was a loss of €1,404 million, reflecting the costs of its Genesis transformation plan. Headcount was 63,193 at the end of December 2025, down 19.1% in a year. The company describes itself as operating in 61 countries and as the European leader in cybersecurity, cloud and high-performance computing, a self-description.
- Revenue (FY2025)
- €8,001m
- Headcount
- 63,193 (end 2025)
- Countries
- 61
- Listing
- Euronext Paris
Strengths
- European headquarters and sovereign-cloud positioning
- Margins improved after restructuring
Limitations
- Revenue fell 13.8% organically in 2025
- Large net loss in 2025 and ongoing restructuring
11
RT
Multicloud managed services specialist based in San Antonio
Best for: Mid-sized and large firms outsourcing operation of AWS, Azure, Google Cloud or private cloud
Rackspace Technology's predecessor was founded in 1998 to provide outsourced dedicated IT infrastructure, mainly for small and mid-sized businesses. The company is a Delaware corporation controlled by investment funds affiliated with Apollo. For 2025 it reported revenue of about US$2.69 billion, down 2%, split between public cloud at about US$1.70 billion and private cloud at about US$990 million; the GAAP net loss narrowed to US$226 million from US$858 million. The company describes itself as an end-to-end hybrid cloud and AI solutions company that builds, runs and manages cloud environments across the major platforms. It employed approximately 5,000 staff in 22 countries at the end of 2025, and its principal executive offices are in San Antonio, Texas.
- Founded
- 1998 (predecessor)
- Revenue (FY2025)
- c. US$2.69bn
- Employees
- c. 5,000 (31 Dec 2025)
- Headquarters
- San Antonio, Texas, US
Strengths
- Specialised in running public and private cloud environments
- Revenue split by public and private cloud is disclosed
Limitations
- Continuing net losses
- Private cloud revenue fell 6% in 2025
12
Pennsylvania-based provider of digital workplace and infrastructure services
Best for: Service-desk, end-user support and mainframe-centred infrastructure
Unisys reported 2025 revenue of US$1,950.1 million, down 2.9% year on year. Revenue by segment was US$508.4 million for Digital Workplace Solutions, US$732.8 million for Cloud, Applications and Infrastructure Solutions, and US$628.9 million for Enterprise Computing Solutions, which includes its license and support business. The company says it has been helping clients for more than 150 years. At 31 December 2025 it employed approximately 15,000 professionals, 4,200 of them in India and 2,300 in the United States; its principal executive offices are in Blue Bell, Pennsylvania. In 2025 it made a discretionary pension contribution of US$250 million, and its pension funding deficit narrowed to US$448.5 million.
- Revenue (FY2025)
- US$1,950.1m
- Employees
- c. 15,000 (31 Dec 2025)
- Headquarters
- Blue Bell, Pennsylvania, US
Strengths
- Discloses digital workplace and infrastructure revenue separately
- Smaller scale can suit mid-sized contracts
Limitations
- Revenue declined in 2025, with a further decline guided for 2026
- Remaining pension deficit weighs on finances
Frequently asked questions
What is a managed service provider?
A managed service provider is a company that runs part of a client's IT on an ongoing basis, such as servers, cloud environments, networks, end-user support, security monitoring or business applications. The work is normally governed by a multi-year contract with service levels, and revenue is recognised over time as services are delivered rather than at the end of a project.
Which is the largest managed service provider?
By reported revenue, Accenture is the largest company in this list, with fiscal 2026 revenue of US$74.18 billion, of which US$37.30 billion came from managed services. Kyndryl describes itself as the world's largest IT infrastructure services provider, but that is the company's own claim and refers to infrastructure services specifically.
What is the difference between managed services and consulting?
Consulting engagements are usually projects with a defined end, such as designing a system or running a migration. Managed services are ongoing operations: the provider keeps a system running, changes it and reports against service levels for the length of the contract. Accenture reports the two as separate revenue lines, with managed services contracts typically spanning several years.
How long do managed services contracts last?
Large enterprise managed services contracts usually last several years. Accenture states that most of its managed services contracts run for several years, require longer termination notice than shorter consulting work and often include an early termination charge. Smaller MSP agreements for mid-sized firms are often shorter, but terms vary by provider and are negotiated individually.
Are small local MSPs included in this list?
No. The list covers large providers that publish audited or official annual revenue, so it can be ordered on a verifiable basis. Thousands of smaller regional MSPs serve small and mid-sized businesses, but most are privately held and do not publish revenue, which makes a comparable ranking impossible without relying on estimates.
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