Cloud Managed Services (CMS) Market Trends, Size, Segments and Growth by Forecast to 2023

Market Scenario:

Cloud Managed Services are in high demand owing to the increasing usage of cloud-based applications among businesses for storing their data. The cloud-based applications are increasing adopted due to their cost efficiency and economical manner for storing data. The growing usage of cloud-based application has encouraged businesses to take help from managed service providers to manage their cloud-based applications.

Technology giants such IBM technologies (U.S.), Huawei Technologies (China), Alcatel-Lucent (Finland), NTT DATA Corporation (Japan), Cisco Systems (U.S.), Ericsson (U.S.). IBM technologies a prominent player in cloud managed services market, provides managed hybrid infrastructure service with today’s IT demands which can be complex, costly and time-consuming. IBM Integrated Managed Infrastructure Services can simplify hybrid infrastructure management with modular services as users only pay for what they need. IBM can globally deliver dynamic remote management services for a broad range of traditional and cloud infrastructures.

They use advanced automation and analytics to manage critical infrastructure components worldwide. They also provide fully managed, security-rich and production-ready cloud environment which is designed to provide enterprise-class performance, and availability.

The major factors driving the growth of the Cloud Managed Services Market is the emphasis on minimizing the IT cost and the need to focus on business function. Other major aspects are rise in cloud automation, automation helps in supporting business needs with IT by increasing the delivery speed of services for end users. The associated risks such as private information leak, data theft, and data misuse are the reason many companies do not prefer cloud managed services.

The global cloud managed services market is expected to grow at a CAGR of approximately 15% during the forecast period 2017-2023.

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Major Key Players:

Some of the prominent players in the global cloud managed services market: 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) among others.

Segments:

The global cloud managed services market is segmented by type, deployment, organization size, and end-user. The type segment consists of managed infrastructure services, managed network services, and managed security services, managed data center services, managed mobility services, and managed communication services.

The deployment type segment consists of public cloud and private cloud. The organization size segment consists of small & medium enterprises and large enterprises. The vertical segment consists of BFSI, telecommunication and IT, government, healthcare, retail, manufacturing, energy & utilities, and others.

Regional Analysis:

 The global cloud managed services market is studied for Asia Pacific, North America, Europe, and Rest of the World. It has been observed that North America accounts for the largest share in the global Cloud Managed Services market.

Owing to technological advancement, well-established infrastructure and seamless internet connectivity. Further, the presence of major players such as Cisco Systems, Verizon Communications and NTT DATA Services (U.S.) is boosting the market growth European region accounts for second position in cloud managed service market followed by Asia Pacific. Asia Pacific is anticipated to have the highest growth rate in the forecast years due to increasing adoption of cloud based business application and growth in the cloud service providers.

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Intended Audience:

  • Technology Investors
  • Research/Consultancy firms
  • Original Instrument Manufacturers
  • Associations, organizations, forums, and alliances
  • Cloud Managed Services manufacturers
  • Contact center infrastructure vendors
  • Managed speech analytics service providers
  • Value added resellers

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