Cloud Managed Services Market Scenario:
Market Research Future (MRFR) believes that the global cloud managed services market 2020 has the potential to expand at an approximate rate of 15% over the forecast period (2017 to 2023).
Rising emphasis on mobility paired with the increasing need to focus on core business functions can benefit the cloud managed services market in the years to come. Moreover, mounting demand for reliability and scalability can further boost the need for cloud managed services as they help enterprises scale up and down their operations backed by custom-made offerings to the services.
Enterprises today are interested in bringing down the IT costs, making cloud managed services a big hit among them. The cloud services that are offered on the pay-as-you-go model assist the enterprises in reducing the costs, while offering flexibility. Several other benefits are offered by Cloud Managed Services Market, including elevated IT functionality as well as customized IT services.
Rising need for robust infrastructure will be a major concern for service providers, since it pushes the need for uninterrupted internet connectivity for services delivery. Multiple users simultaneously accessing the cloud can lead to network congestion, hampering the internet speed and resulting in downtime. Therefore, more and more players are constantly innovating and engaging in research and development activities to tackle these issues, which can take the market to greater heights in the near future.
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The top players in the worldwide market for cloud managed services are Verizon Communications (U.S.), Fujitsu Ltd.(Japan), NTT DATA Corporation (Japan), Accenture PLC (Ireland), Ericsson (U.S.), Alcatel-Lucent (Finland), NTT DATA Services (U.S.), Cisco Systems (U.S.), Huawei Technologies (China), IBM technologies (U.S.), to mention a few.
The global market for cloud managed services can be dissected with respect to type, deployment, organization size, and end-user.
- The types of cloud managed services are managed network services, managed security services, managed infrastructure services, managed mobility services, managed communication services and managed data center services.
- The deployment types analyzed in the report are public cloud as well as private cloud.
- The sizes of the organizations that use cloud managed services are small & medium enterprises along with large enterprises.
- The end-users highlighted in the report are energy & utilities, telecommunication and IT, BFSI, healthcare, government, manufacturing, retail, and others.
The cloud managed services market is spread across the primary regions of Europe, Asia Pacific (APAC), North America, and the Rest of the World (RoW).
MRFR estimates that the largest share in the global cloud managed services market belongs to North America, thanks to the presence of a huge number of technology giants like Google, IBM, Verizon Communications and Cisco Systems. Initiatives being taken by the federal government are boosting the adoption rate of cloud managed services in the region. The region’s robust financial position helps it invest considerably in advanced solutions as well as technologies, providing the organizations a competitive edge.
APAC can note the highest growth rate during the review timeframe, on account of the rising adoption of cloud based business applications coupled with t surge in the number of cloud service providers. Massive investments by well-known players like Google and IBM also foster the market growth. Accelerated sales of smartphones as well as the penetration of mobile devices have led to the prevalence of the BYOD policy in the region, driving the vendors in the region to opt for cloud managed services.
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