A recent report published by Infinium Global Research on the cloud managed services market provides an in-depth analysis of segments and sub-segments in the global as well as regional cloud managed services market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional cloud managed services market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global cloud managed services market. According to the report, the global cloud managed services market is projected to grow at a CAGR of 14.9% over the forecast period of 2021-2027.
The cloud managed services market was valued at USD 40 billion in 2021 and is expected to reach USD 91.9 billion in 2027, growing with a CAGR of 14.9% during the forecast period. Cloud-managed service is a process of outsourcing IT resources and management deployed on the cloud. Increasing demand among companies to laceration operating and infrastructural costs to manage business procedures is one of the major factors pouring the growth of the market. Moreover, the externalization of cloud resources to third parties upsurges organizational competitiveness, permitting companies to concentrate on their core competencies. In addition, the expanding Big Data field has generated an enormous demand for managed cloud computing and analytical services.
The increasing emphasis on mobility along with the requirement to focus on core business functions will boost the market growth rate. Also, the growing demand for scalability and reliability will further raise the demand for the services as it will allow enterprises to scaling-up and down their operations by providing custom-made offerings to the available services. Enterprises are more concerned with IT costs reduction which will propel the demand in the near future. Furthermore, services being delivered on the pay-as-you-go model, where enterprises are charged as per their usage of the resources will enable enterprises to save on costs and will offer flexibility. Nevertheless, concern regarding the privacy and security of business information on cloud platforms may hamper the market growth. Poor infrastructure and connectivity in emerging regional markets such as India, Mexico, and MEA will remain the biggest challenge for the market to grow.
Among the geographies, the North American region is expected to hold the largest share in the global cloud managed services market owing to the presence of numerous key players in the region. Further, the region is also projected to account for the largest share in the global cloud managed services market and is considered the most advanced region in terms of cloud, AI, and machine learning technologies. Moreover, the Asia Pacific region is projected to witness the fastest growth in the global cloud managed services market during the forecast period owing to the rising IT infrastructure. Additionally, the Asia Pacific region is home to a creditable amount of cloud service providers, which are progressively embracing the adoption of advanced technologies, such as cloud services in developing economies such as China and India drive the cloud managed services market in this region.
The report on global cloud managed services market covers segments such as service type, deployment type, organization size, and industry vertical. On the basis of service type, the sub-markets include managed network services, managed security services, managed infrastructure services, managed mobility services, managed data canter services, and managed communication services. On the basis of deployment type, the sub-markets include public cloud, and private cloud. On the basis of organization size, the sub-markets include large enterprises, and small and medium enterprises. On the basis of industry vertical, the sub-markets include banking, financial services, and insurance, retail, telecom and it, healthcare, government, energy and utilities, and others.
The report provides profiles of the companies in the market such as IBM Corporation, Ericsson, NTT Data Corporation, Nokia Corporation (Alcatel-Lucent Enterprise), Huwaei Technologies, Cisco Systems, Inc., DXC Technology, Accenture PLC, NEC Corporation, and Fujitsu Ltd..
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of cloud managed services market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.