Rising demands for cloud applications are propelling the growth of the global cloud-managed services market. Furthermore, lower costs of cloud services and hyper-scaling capabilities are also expected to aid in the growth of cloud managed services industry. However, concerns regarding data security and privacy can hamper the market growth. Conversely, the growing demand for cloud and cloud services in SMEs is expected to offer remunerative opportunities for the expansion of the cloud managed services market during the forecast period.
The global cloud managed services market is segmented on the basis of service type, enterprise size, industry vertical, and region. Based on service type, the 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. Based on enterprise size, the market is segmented into large enterprises and SMEs. Depending on industry vertical, the market is classified into BFSI, healthcare, manufacturing, retail, IT and telecom, and others. Based on enterprise size, the market is segmented into large enterprises and SMEs. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global cloud managed services market is dominated by key players such as Accenture, ALE International, ALE USA Inc., Atos SE, Amazon Web Services, Inc, Cisco Systems, Inc., Cloudticity, Datacom Group Ltd, Telefonaktiebolaget LM Ericsson, FUJITSU, Hewlett Packard Enterprise Development LP, Huawei Technologies Co., Ltd, IBM Corporation, Infosys Limited, NEC Corporation, NTT DATA Corporation, RACKSPACE TECHNOLOGY, Tata Consultancy Services Limited, and Wipro. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global cloud managed services market analysis from 2021 to 2031 to identify the prevailing global cloud managed services market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the global cloud managed services market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global global cloud managed services market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Service Type
- Managed Business Services
- Managed Network Services
- Managed Security Services
- Application
- Managed LPS and LDS
- Distributed Denial of Services
- Unified Threat Management
- Secured Information and Event Management
- Firewall Management
- Endpoint Security
- Others
- Managed Infrastructure Services
- Managed Mobility Services
- Managed Communication and Collaboration Services
By Enterprise Size
- Large Enterprises
- SMEs
By Industry Vertical
- BFSI
- Healthcare
- Manufacturing
- Retail
- It And Telecom
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Mexico
- UAE
- Saudi Arabia
- South Korea
- Rest of LAMEA
Key Market Players
- Accenture plc
- ALE International, ALE USA Inc.
- Atos SE
- Amazon Web Services, Inc.
- Cisco Systems, Inc.
- Cloudticity
- Datacom Group Ltd
- Telefonaktiebolaget LM Ericsson
- Fujitsu Ltd.
- Hewlett Packard Enterprise Development LP
- Huawei Technologies Co., Ltd
- IBM Corporation
- Infosys Limited
- NEC Corporation
- NTT DATA Corporation
- RACKSPACE TECHNOLOGY
- Tata Consultancy Services Limited
- Wipro Limited
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Table of Contents
Executive Summary
According to the report, titled, “Global Cloud Managed Services Market," the global cloud managed services market size was valued at $83.26 billion in 2021, and is estimated to reach $319.4 billion by 2031, growing at a CAGR of 14.5% from 2022 to 2031.Managed cloud services offer partial or complete management and control of a client’s cloud platform, including migration, maintenance, and optimization. An organization may assure the optimal operation of its cloud resources by utilizing the services of a managed cloud service provider. Outsourcing cloud management also helps firms to save expenses on hiring and training new employees. Furthermore, key factors that drive the growth of the cloud managed services market include, Rising rise in demands for cloud applications, which propels are propelling the growth of the global cloud-managed services market. Furthermore, lower costs of cloud services and hyper-scaling capabilities are also expected to aid in the growth of the cloud managed services industry. However, concerns regarding data security and privacy can hamper the market growth. Conversely, the growing demand for cloud and cloud services in SMEs is expected to offer remunerative opportunities for the expansion of the cloud managed services market during the forecast period.
On the basis of industry vertical, the BFSI segment dominated the overall cloud managed services industry market in 2021, and is expected to continue this trend during the forecast period. This is attributed to the demand for cloud services post the outbreak of the COVID-19 pandemic. However, the retail segment is expected to witness the highest growth, owing to the sudden growth of e-commerce and online retail applications post the outbreak of the pandemic, which is expected to fuel the growth of the global cloud managed services market.
Region- wise, the cloud managed services market was dominated by North America in 2021, and is expected to retain its position during the forecast period, owing to its high concentration of cloud solution vendors, which is expected to drive the market for cloud managed services during the forecast period. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to its growing technological sector., which is expected to fuel the growth of cloud managed services market forecast in the region in the coming few years.
The cloud managed services market witnessed overall positive growth during the period of COVID-19. With the rapid spread of COVID-19, stringent lockdown policies, social distancing measures, and people trapped in their homes, demand for online services skyrocketed as people depended on digital services for their daily needs. From daily groceries to entertainment and communication services were shifted to the cloud during the pandemic. This led many big players to increase their investments in cloud and related services during the period. According to an article published by Forbes magazine, in January 2021, in the aftermath of the COVID-19 crisis, the worldwide global end-user spending on public cloud services grew by over 18.4% to reach $304.9 billion in the year 2021. Such factors drove the global cloud managed services market growth during the period.
Key Findings of the Study
- By enterprise size, the large enterprise segment accounted for the largest cloud managed services market share in 2021.
- By region, North America generated highest revenue in 2021.
- By industry vertical, the BFSI segment generated the highest revenue in 2021.
- The key players profiled in the cloud managed services market analysis are Accenture, ALE International, ALE USA Inc., Atos SE, Amazon Web Services, Inc, Cisco Systems, Inc., Cloudticity, Datacom Group Ltd, Telefonaktiebolaget LM Ericsson, FUJITSU, Hewlett Packard Enterprise Development LP, Huawei Technologies Co., Ltd, IBM Corporation, Infosys Limited, NEC Corporation, NTT DATA Corporation, RACKSPACE TECHNOLOGY, Tata Consultancy Services Limited, and Wipro. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
Companies Mentioned
- Accenture plc
- Ale International, Ale Usa Inc.
- Atos Se
- Amazon Web Services, Inc.
- Cisco Systems, Inc.
- Cloudticity
- Datacom Group Ltd
- Telefonaktiebolaget Lm Ericsson
- Fujitsu Ltd.
- Hewlett Packard Enterprise Development Lp
- Huawei Technologies Co. Ltd
- Ibm Corporation
- Infosys Limited
- Nec Corporation
- Ntt Data Corporation
- Rackspace Technology
- Tata Consultancy Services Limited
- Wipro Limited
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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