Cloud Managed Services Market To Grow Rapidly Due To Improved Focus on Core Competencies, Improved Regulatory Compliance And Customer Relations Till 2025 | Million Insights
Global Cloud Managed Services Market is anticipated to reach USD 82.51 billion by 2025. Market is anticipated to grow at a healthy rate in the years to come. Cloud managed services offer a variety of skillful solutions that process information technology (IT) infrastructure and inner functionalities to be managed in support from a third party managed service supplier through cloud platform.
The factors that propel the development of the market include increasing acceptance of cloud technology among businesses for handling their application. There has been significant increase in the acceptance of cloud-based technology as it is inexpensive and offers real time updates and access to business application and is anticipated to grow at a significant CAGR of 15.4% in the upcoming period as the scope, product types, and its applications are increasing across the globe. Cloud Managed Services Market may be explored by types, industries, deployment outlook, vertical outlook, and geography.
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The Market may be explored by Type into Data Center, Business, Mobility, Network, and Security. The “Managed Mobility” segment dominated the Cloud Managed Services Market in 2016 and is anticipated to maintain its dominance by 2025 due to increasing adoption of Bring Your Own Device (BYOD) and increasing use of personal devices will enhanced effectiveness in business operations.
Cloud Managed Services Market may be explored by Industries into Healthcare, Government, Retail, IT & Telecom, Manufacturing, Others. The Market may be explored by deployment outlook as Public, and Private. The Market may be explored by vertical outlook as Government (State & Local, Federal) & Education, Telecom & ITES, BFSI, Retail & Consumer, Manufacturing & Automotive, Healthcare, and Others (Transportation, Food & Beverages, Media, Real Estate, Oil & Gas).
The “BFSI” segment dominated the Cloud Managed Services Market in 2016 and is anticipated to maintain its dominance by 2025 due to reduction in risks, improved focus on core competencies, improved regulatory compliance, and customer relations are some of the key factors propelling the Cloud Managed Services Market in the years to come.
North America accounted for the major share of the Cloud Managed Services Industry in 2016 and will continue to lead in the upcoming period due to factors such as owing to the growing occurrence of technology giants such as Google, IBM, Verizon Communications and Cisco Systems, and increasing government initiative for the acceptance of cloud managed services. In addition, North America is followed by Europe and Asia-Pacific region and anticipated to be the highest growing region over the forthcoming period, due to the increasing adoption of cloud managed services by the medium and small-sized enterprises, which are projected to propel the market development.
Some of the key players that fuel the growth of the Cloud Managed Services Market include Hewlett-Packard Enterprise Company, Microsoft Corporation, Ericsson AB, NEC Corporation, Cisco Systems, Inc., Accenture PLC, Huawei Technologies, Fujitsu Ltd., NTT DATA Corporation, VMWare, Inc., BT Global Services, AT&T Inc., and IBM Corporation. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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Market Segment:
Type Outlook (Revenue, USD Million; 2014 – 2025)
• Business Services
• Network Services
• Security Services
• Data Center Services
• Mobility Services
Cloud Deployment Outlook (Revenue, USD Million; 2014 – 2025)
• Public
• Private
End-User Outlook (Revenue, USD Million; 2014 – 2025)
• SMEs
• Large Enterprises
Vertical Outlook (Revenue, USD Million; 2014 – 2025)
• Telecom & ITES
• Government (State & Local, Federal) & Education
• BFSI
• Retail & Consumer
• Healthcare
• Manufacturing & Automotive
• Others (Media, Transportation, Food & Beverages, Oil & Gas, Real Estate)
Regional Outlook (Revenue, USD Million; 2014 – 2025)
• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• Asia Pacific
• China
• India
• Japan
• Latin America
• Middle East & Africa (MEA)
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