Cloud Managed Services Market Overview:
The cloud-managed services market industry is projected to grow from USD 68.49 Billion in 2023 to USD 145.66 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 13.40% during the forecast period (2023 - 2030). Market Research Future (MRFR) reviewed the market and revealed that the global market could depend on factors like growing demand for simplified services across industries, need for different access points to ease the workflow, ability to curb the IT maintenance cost, technological inclusion, support from the end user industries, digitalization, urbanization, a surge in intake of the system in developed and developing countries, and others.
However, the cloud managed services market may suffer a setback due to the high initial installation cost and the lack of experts who can deter market growth.
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Key Players:
Key Companies in the Cloud-Managed Services market include
- IBM technologies (U.S.)
- Huawei Technologies (China)
- Alcatel-Lucent (Finland)
- NTT DATA Corporation (Japan)
- Cisco Systems (U.S.)
- Ericsson (U.S.)
- Verizon Communications (U.S.)
- Accenture PLC (Ireland)
- NTT DATA Services (U.S.)
- Fujitsu Ltd.(Japan)
Cloud Managed Services Market Segmentation:
The global report studying various details of the cloud managed services market has a segmentation based on organization size, deployment, type, and end-user. MRFR’s analysts have reviewed the market on a microscopic level to come up with insights that can help in chalking out better plans for the coming years.
The cloud managed services market is segmented on the basis of service type, enterprise size, industry vertical, and region.
- Service type: The cloud managed services market is segmented into managed business services, managed network services, managed security services, managed infrastructure services, managed mobility services, and managed communication and collaboration services.
- Enterprise size: The cloud managed services market is segmented into large enterprises and SMEs.
- Industry vertical: The cloud managed services market is classified into BFSI, healthcare, manufacturing, retail, IT and telecom, and others.
- Region: The cloud managed services market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Regional Analysis:
Structural benefits and financial capacity are allowing the North American market to dominate the global market. Asia Pacific is showing ample opportunities for leaving others behind in terms of growth speed. The regional market would benefit from countries like China, Japan, India, South Korea, and others.
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COVID-19 pandemic triggered the uptaking of several developments that would help in streamlining the workflow and ensure minimum contact points. That is why a lot of companies are now relying on cloud managed services. This creates scope for the market to operate in bigger fields and it will help in fetching more revenues.
Cloud-Managed Services Industry Developments
January 2023: Amazon Web Services (AWS) announced the general availability of AWS Service Catalog, a new service that allows customers to create and manage catalogs of cloud resources.
February 2023: Microsoft announced the general availability of Azure Lighthouse, a new service that allows partners to manage Azure resources on behalf of their customers.
March 2023: Google Cloud Platform (GCP) announced the general availability of Anthos, a new platform that allows customers to run their applications on any cloud.
April 2023: IBM announced the general availability of IBM Cloud Pak for Multicloud Management, a new service that helps customers manage their hybrid cloud environments.
May 2023: Cisco announced the general availability of Cisco Cloud Verified, a new program that helps customers validate their cloud solutions.
June 2023: Rackspace announced the general availability of Rackspace Managed Kubernetes, a new service that helps customers deploy and manage Kubernetes clusters.
These are just a few of the many cloud-managed services industry developments that have taken place in 2023. As the cloud continues to grow in popularity, we can expect to see even more innovation in this space in the years to come.
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About Market Research Future (MRFR):
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.
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