What Fueled The Previous Growth In The Cloud Managed Services Market?
The cloud managed services market has seen considerable growth due to a variety of factors.
• In recent times, there has been robust growth in the size of the cloud managed services market. It is expected to expand from $96.12 billion in 2024 to $105.21 billion in 2025, growing at a compound annual growth rate (CAGR) of 9.5%. Factors contributing to the growth during the historical period include the emergence of cloud computing, initiatives to reduce business costs, security and compliance issues, industry-specific needs, and the operational complexity of the industry.
How Does the Forecast Look for the Cloud Managed Services Template Market?
The Cloud Managed Services market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for cloud managed services is poised to witness substantial growth in the coming years. The market is forecasted to reach $178.45 billion by 2029, expanding at a compound annual growth rate (CAGR) of 14.1%.
Several factors are driving this growth, including customer experience and support, digital transformation initiatives, competition among service providers, security and compliance necessities, and the adoption of hybrid and multi-cloud. The forecast period will see major trends such as sector-specific solutions, support for IoT infrastructure, demands for scalability and flexibility, a focus on security and compliance, and a rise in the adoption of hybrid and multi-cloud.
What Are The Leading Drivers Of Growth In The Cloud Managed Services Market?
The surging adoption of cloud technology among businesses is anticipated to spur the expansion of the cloud-managed services market in the future. This technology offers individuals or companies the capability to store and process data via internet in a location separate from its final use, thus negating the necessity of tangible infrastructure. It, therefore, minimises spending towards the setup and sustenance of a physical framework for data storage and enables easy data access. In specific terms, Google LLC, an American IT firm, reported that in January 2023, 76% of people utilised the public cloud in 2022, marking a 56% rise from 2021. Consequently, the mounting adoption of cloud technology across businesses is fuelling the growth of the cloud-managed services market.
How Are The Segments Defined Within The Global Cloud Managed Services Market?
The cloud managed services market covered in this report is segmented –
1) By Service Type: Managed Business Services, Managed Network Services, Managed Security Services, Managed Infrastructure Services, Managed Mobility Services, Managed Communication And Collaboration Services
2) By Deployment: Public Cloud, Private Cloud
3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
4) By End-User: Government, Retail, IT And Telecommunication, Manufacturing, BFSI, Healthcare, Energy And Utilities
Subsegments:
1) By Managed Business Services: Business Process Outsourcing (BPO), IT Helpdesk Services, Cloud Services Management, Application Management Services
2) By Managed Network Services: Network Monitoring And Management, WAN Optimization, Network Security Management, SD-WAN Services
3) By Managed Security Services: Security Information And Event Management (SIEM), Threat Intelligence Services, Incident Response Services, Vulnerability Management
4) By Managed Infrastructure Services: Data Center Management, Server Management, Storage Management, Backup And Disaster Recovery Services
5) By Managed Mobility Services: Mobile Device Management (MDM), Mobile Application Management (MAM), Mobile Security Services, Enterprise Mobility Management (EMM)
6) By Managed Communication And Collaboration Services: Unified Communication As A Service (UCaaS), Video Conferencing Solutions, Collaboration Tools Management, VoIP Services
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How Are New Trends Expected To Influence The Growth Of The Cloud Managed Services Market?
The leading trend emerging in the cloud-managed services market is driven by technological advancements. Big players in the sector are creating cutting-edge technology solutions to consolidate their market dominance. For example, IBM, a technology firm based in the US, unveiled the IBM Hybrid Cloud Mesh in May 2023. This innovation empowers companies to reclaim authority over their multicloud infrastructure. The offering facilitates a simplified and automated approach for organizations to manage and safeguard their hybrid cloud ecosystems, guaranteeing uninterrupted operations across various cloud platforms.
Who Are the Key Players In The Cloud Managed Services Market?
Major companies operating in the cloud managed services market include:
• International Business Machines Corporation
• Ericsson Telecom AB
• Amazon Web Services Inc.
• Cisco Systems Inc.
• Infosys Limited
• NTT DATA Corporation
• Fujitsu Limited
• Accenture Plc.
• NEC Corporation
• Wipro Limited
• Atos SE
• Huawei Technologies Co. Ltd.
• Rackspace Technology Inc.
• Cloudticity LLC
• Datacom Group Limited
• Connectria LLC
• Microsoft Corporation
• Google LLC
• DigitalOcean Inc.
• Oracle Corporation
• SAP SE
• Salesforce.com inc.
• VMware Inc.
• Deloitte Touche Tohmatsu Limited
• Cognizant Technology Solutions Corporation
• CDW Corporation
• Capgemini SE
• Cloudnexa Inc.
• Hewlett Packard Enterprise Company
• Dimension Data Holdings Plc
What Is The Most Dominant Region In The Cloud Managed Services Market?
North America was the largest region in the cloud managed services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the cloud managed services market report during the forecast period. The regions covered in the cloud managed services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
