Cloud Managed Services Market, By Services (Managed Security Services, Managed Infrastructure Services, Managed Business Services, Others) By Deployment Model (Private Cloud, Public Cloud) By End Customers (Small and Medium Businesses, Large Enterprises) By Industries (Healthcare, Government, Retail, IT & Telecom, Manufacturing, Others) By Region – Global Analysis Forecast Till 2030

The Global Cloud Managed Services Market was valued at US$ 89.12 Billion in 2021 and is forecast to reach US$ 214 Billion by 2030, growing at a CAGR of 11.1% during the forecast period from 2022 to 2030.

The practice of outsourcing IT resources and management used in the cloud. One of the major factors fuelling market growth is the growing demand from businesses to reduce operational and infrastructure costs to manage their business processes. By externalizing cloud resources to other parties, organizations gain a competitive advantage and are freed to focus on their core functions. Managed cloud computing and analytics services are in high demand due to the expansion of the big data industry.

Market expansion will be supported by increased acceptance of private cloud deployments, which will speed up IT services by reducing IT costs, improving scalability, and providing access to automatic updates. Due to the increase in the demand for cloud installations, various industries have started implementing cloud services. Also, data storage capacity is huge compared to public cloud deployments. Enterprises are using their existing deployments, but are also adapting to the needs of their customers.

Cloud Managed Services provides comprehensive solutions for businesses seeking efficient management of their cloud platforms. These services encompass various aspects, including cloud platform management, managed cloud, cloud storage management, managed cloud IT services, managed cloud security, cloud managed networks, and cloud cost management. With Cloud Managed Services, businesses can delegate the responsibility of overseeing their cloud platforms to experienced professionals who ensure smooth operations, optimize storage utilization, enhance security measures, and manage network connectivity. Furthermore, these services offer valuable cost management strategies, allowing businesses to maximize their return on investment while enjoying the benefits of a robust and reliable cloud infrastructure.

Market Dynamics:

Drivers:

Companies are increasingly using managed services to enhance operational, security, and organizational capabilities. The ability to eliminate complex systems integration services and build well-developed solutions to ensure cloud scalability and economics makes cloud-managed services useful for businesses. Because full-time IT professionals are expensive to handle cloud services, most small businesses cannot afford to do so. As a result, by outsourcing these services, companies can manage and reduce network maintenance costs without sacrificing productivity or security.

Restraints:

A major factor limiting this market's expansion is the lack of IT and cybersecurity professionals. This flaw prevents businesses from meeting their IT security requirements. When an organization lacks IT and cybersecurity experts, hackers and viruses can invade the IT ecosystem, losing important data and resources. Moreover, one of the major obstacles hindering the market's growth is the high cost of these services along with data privacy and security concerns.

Key players:

• Cisco

• Atos

• NTT Data Corporation

• IBM

• CSC

• Fujitsu

• Accenture

• Ericsson

• Alcatel Lucent

Market Segmentation:

Cloud Managed Services Market, By Services

• Managed Security Services

• Managed Infrastructure Services

• Managed Business Services

• Others

Cloud Managed Services Market, By Deployment Model

• Private Cloud

• Public Cloud

Cloud Managed Services Market, By End Customers

• Small and Medium Businesses

• Large Enterprises

Cloud Managed Services Market, By Industries

• Healthcare

• Government

• Retail

• IT & Telecom

• Manufacturing

• Others

Cloud Managed Services Market, By Geography

• North America

• Asia Pacific

• Europe

• LAMEA

Regional Analysis:

North America is expected to dominate the market share of the global cloud managed services market owing to the growth and profitability they offer, leading to the adoption of managed cloud services across the region as a result of increasing consumer demand. The region's end-user sector is embracing cloud services as an IT delivery strategy to address the lack of qualified IT staff needed to control costs and manage business operations.

However, Asia Pacific is expected to witness the highest growth rate during the forecast period for the global cloud-managed services market, owing to the increasing deployment of private cloud solutions and increasing investments in data security. Several companies in Asia Pacific are expected to contribute significantly. It is also because the need for IT infrastructure is increasing and digitalization is spreading rapidly in countries such as China and Japan. This growth is partly due to increased innovation, R&D spending, and business alliances between various companies.

Scope Of the Report: 

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