Cloud Managed Services
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How Large Will the Cloud Managed Services Market Size By 2025?
The market size for cloud managed services has experienced robust growth in the past few years. Its growth projection indicates an increase from $96.12 billion in 2024 to $105.2 billion in 2025, having a compound annual growth rate (CAGR) of 9.4%. Factors like the emergence of cloud computing, initiatives to reduce business costs, security issues and compliance requirements, industry-oriented needs, and the complexity of the operational procedures have contributed to the growth during the historic period.
How Big Is the Cloud Managed Services Market Size Expected to Grow by 2029?
The market size of cloud managed services is projected to experience a swift expansion in the upcoming years, reaching $172.57 billion by 2029 with a CAGR of 13.2%. This growth during the predicted period can be credited to factors such as enhanced customer experience and support, digital transformation initiatives, rivalry among service providers, demands for security and compliance, hybrid, and multi-cloud adoption. The forecast period also showcases significant trends including industry-specific solutions, IoT infrastructure assistance, demands for scalability and flexibility, focus on security and compliance, and continued adoption of hybrid and multi-cloud.
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Which Key Market Drivers Powering Cloud Managed Services Market Expansion and Growth?
The rise in the acceptance of cloud technology in corporations is predicted to fuel the expansion of the market for cloud-managed services. The feature of cloud technology that enables individuals or corporations to store and manipulate data over the internet from a location separate from where it is used, effectively eliminates the need for physical infrastructure. The use of managed services in conjunction with cloud technology reduces expenses associated with establishing and maintaining a physical structure for data storage, and facilitates easy access to this data. For example, Google LLC, a US information technology firm, reported in January 2023 that the public cloud was used by 76% of people in 2022, a significant rise of 56% from 2021. Consequently, the increasing acceptance of cloud technology in enterprises is propelling the growth of the market for cloud-managed services.
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Which Fast-Growing Trends Are Poised to Disrupt the Cloud Managed Services Market?
The primary trend becoming increasingly prominent in the cloud-managed services market is technological advancements. Top firms in the cloud-managed services market are creating pioneering technological solutions to bolster their market standing. For example, in May 2023, IBM, a technology company from the United States, unveiled the IBM Hybrid Cloud Mesh to aid corporations in retrieving control of their multicloud infrastructure. This novel service provides a simplified and mechanized solution to aid organizations in managing and safeguarding their hybrid cloud settings, guaranteeing uninterrupted operations across numerous cloud platforms.
What Are the Emerging Segments in the Cloud Managed Services Market?
The cloud managed servicesmarket 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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Who Are the Global Leaders 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
Which are the Top Profitable Regional Markets for the Cloud Managed Services Industry?
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
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