IMARC Group has recently released a new research study “Cloud Managed Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The global cloud managed services market size reached US$ 47.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 98.7 Billion by 2028, exhibiting a growth rate (CAGR) of 12.3% during 2023-2028.
What is Cloud Managed Services?
Cloud management services refer to outsourcing the management and maintenance of the cloud infrastructure and services of an organization to a specialized third-party provider. They encompass a wide range of tasks, including monitoring, security, optimization, backup and recovery, and ongoing support. They consist of infrastructure as a service (IaaS) and platform as a service (PaaS) management, which concentrate on the management of platform-level services, facilitating application development and deployment. They offer specialized expertise, ensuring that cloud environments are optimized, secure, and compliant with industry standards. They also help organizations control costs by preventing overprovisioning and optimizing resource allocation.
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What Are The Growth Prospects Of The Cloud Managed Services Industry?
At present, the increasing demand for cloud management services for improving infrastructure management, enhancing performance, and reducing downtime represents one of the crucial factors impelling the growth of the market. Besides this, the rising implementation of cloud management services for optimizing the efficiency of resource allocation and lowering cloud infrastructure costs is contributing to the growth of the market. In addition, the growing adoption of multi-cloud and hybrid cloud environments by enterprises seeking to optimize their information technology (IT) infrastructure is offering a favorable market outlook. Apart from this, the increasing proliferation of the Internet of Things (IoT) devices and edge computing for handling the vast amounts of data generated at the edge and delivering real-time insights is bolstering the growth of the market.
Who Are The Key Players/Companies In The Global Cloud Managed Services Market?
- Accenture plc
- Atos SE
- Cisco Systems, Inc.
- DXC Technology
- Fujitsu Limited
- Google LLC (Alphabet Inc.)
- HCL Technologies
- Hewlett Packard Enterprise
- International Business Machines Corporation
- Infosys Limited
- NEC Corporation (AT&T Inc.)
- NTT DATA Corporation (Nippon Telegraph and Telephone Corporation) and Wipro Limited.
Key Market Segmentation:
Breakup by Service Type:
- Managed Network Services
- Managed Business Services
- Managed Security Services
- Managed Infrastructure Services
- Managed Mobility Services
- Managed Communication and Collaboration Services
Breakup by Deployment Model:
- Private Cloud
- Public Cloud
Breakup by Organization Size:
- Large Enterprises
- Small and Medium-sized Enterprises
Breakup by Vertical:
- Retail and Consumer Goods
- BFSI
- Telecom
- Government and Public Sector
- Healthcare and Lifesciences
- Manufacturing
- Energy and Utilities
- IT
- Others
By Geography:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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