Cloud Managed Services Market Scenario:
Market Research Future (MRFR), in its newly published report, asserts that the Cloud Managed Services Market 2020 is booming and expected to grow significantly over the review period, recording a considerable market valuation of USD 55 billion and a healthy 15% CAGR in the forecast period.
Cloud Managed Services are in high demand due to the increasing usage of cloud-based applications among businesses for storing their data. It can be predicted that gen-next integrated ICT services that comprise a vast range of professional and integrated services, is poised to grow to meet the increasing demand from businesses operating in big data, analytics, IoT, and infrastructure management. Now, with the latest technologies available for analyzing resources stored in the cloud, companies are taking advantage of the augmented scalability and lower overhead, directing the shift from physical machines to cloud-based big data solutions. Additionally, the rising global trends in big data and analytics have distinctly become visible.
The Cloud Managed Services Marketare increasing adopted owing to their cost efficiency and economical method for storing data. The growing deployment of cloud-based application has stimulated businesses to take help from managed service providers to manage their cloud-based applications. The major factors fueling the growth of the cloud managed services market is the importance on minimalizing the IT cost and the need to focus on business function. Other major features are rise in cloud automation, automation helps in supporting business needs with IT by improving the delivery speed of services for end users. The associated risks such as data theft, private information leak, and data misuse are the reason numerous companies do not prefer cloud managed services.
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The major market players operating in the Cloud Managed Services Market as identified by MRFR are Verizon Communications (U.S.), IBM technologies (U.S.), Accenture PLC (Ireland), Huawei Technologies (China), Alcatel-Lucent (Finland), Cisco Systems (U.S.), NTT DATA Corporation (Japan), Ericsson (U.S.), NTT DATA Services (U.S.), Fujitsu Ltd.(Japan) among others.
The global market for cloud managed services is segmented on the baiss of type, deployment, organization size, and end-user. The type segment consists of managed network services, managed infrastructure services, managed security services, managed mobility services, managed data center services, and managed communication services. The deployment type segment comprises of public cloud and private cloud. By deployment type, the private cloud segment is likely to reach the highest CAGR during the forecast period. The organization size segment includes small & medium enterprises and large enterprises. By organization size, the SMEs segment is poised to grow at the maximum growth rate during the forecast period. The vertical segment comprises of BFSI, telecommunication and IT, retail, government, manufacturing, healthcare, energy & utilities, and others.
The geographical analysis of the Cloud Managed Services Market has been analyzed in four major regions, including North America, the Asia Pacific, Europe, and the rest of the world (Latin America, the Middle East and Africa). North America accounts for the notable share in the global Cloud Managed Services market. Due to technological advancement, well-established infrastructure and seamless internet connectivity. The highest market share of North America is due to its stable economy, and willingness to adopt new and emerging technologies.
Furthermore, the existence of major players such as Verizon Communications, Cisco Systems, and NTT DATA Services (U.S.) is fueling the market growth European region accounts for second place in cloud managed service market followed by Asia Pacific. Europe is anticipated to be the second largest region in terms of market size in the cloud managed services market owing to GDPR compliance.
Asia Pacific is poised to have the highest growth rate in the forecast years due to rising adoption of cloud based business application and growth in the cloud service providers. With the technological advancement in APAC, several factors are expected to drive the impressive growth of the region. The factors include increasing ICT spending, growing trend of big-data and analytics, and the need to focus more on core business activities.
Table of Content:
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
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List of Tables
Table 1 Global Cloud Managed Services Market: By Region, 2017-2023
Table 2 North America Cloud Managed Services Market: By Country, 2017-2023
Table 3 Europe Cloud Managed Services Market: By Country, 2017-2023
Table 4 Asia Pacific Cloud Managed Services Market: By Country, 2017-2023
Table 5 Rest of The World Cloud Managed Services Market: By Country, 2017-2023
List of Figures
Figure 1 Global Cloud Managed Services Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Five Forces Analysis of Global Cloud Managed Services Market
Figure 4 Value Chain of Global Cloud Managed Services Market
Figure 5 Share of Global Cloud Managed Services Market In 2017, By Country (In %)
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