Westford,USA, Nov. 09, 2022 (GLOBE NEWSWIRE) -- There is a growing demand for cloud managed service market, as businesses are seeking to increase agility and efficiency while reducing costs.
Managed service providers (MSPs) are able to offer these benefits by delivering cloud services that are tailored to the specific needs of their clients. MSPs can offer a number of different types of cloud services, including infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS). Wherein, IaaS is the most basic type of cloud service, and provides customers with access to computing resources that can be used to run applications or store data. PaaS provides a platform for developing and running applications in the cloud, while SaaS delivers software applications that are accessed over the internet.
Factors driving demand for global cloud managed service market:
- Scalability: Cloud resources can be scaled up or down as needed, so businesses only pay for the resources they use. This makes it easier to manage growth and control costs.
- Agility: The ability to quickly provision and scale resources enables businesses to respond rapidly to changes in demand, ensuring they have the resources they need when they need them.
- Cost savings: Providers in the global cloud managed service market often have economies of scale that allow them to provide their services at a lower cost than businesses could achieve on their own.
- Increased efficiency: Managed service providers are experts in their field and can often provide more efficient service than an in-house team.
- Flexibility: Services in the global cloud managed service market are very flexible and can be scaled up or down as needed, so businesses only pay for the resources they use.
- Peace of mind: When businesses outsource their cloud management to a third-party provider, they can have peace of mind knowing that their infrastructure is in good hands.
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SkyQuest Study Reveals 53% IT infrastructure and platforms will be delivered as a service By 2028
According to a new study by SkyQuest, the global cloud managed service market is on track to grow from $86.32 billion in 2021 to $130.1 billion by 2028, at a CAGR of 10.2%.
The study, which was conducted among 1,000 organizations worldwide, found that the use of market is becoming increasingly mainstream, with nearly 60% of respondents saying they currently use or plan to use such services within the next two years. The report states that by 2025, 65% of enterprises will be using some form of cloud managed service, up from less than 10% in 2018. According to SkyQuest's study of cloud managed service market, nearly 60% of enterprises will have a hybrid cloud strategy by 2025 This is up from 50% in 2021. The study also found that by 2028, over 53% of IT infrastructure and platforms will be delivered as a service. This is up from less than 20% in 2015.
Notably, the study found that the use of market is highest in North America (70%), followed by Europe (66%) and Asia-Pacific (61%). When it comes to the specific benefits of using cloud managed services, respondents cited improved agility and efficiency (44%), reduced costs (41%), and increased business continuity and disaster recovery capabilities (39%).
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Top 5 Trends in Global Cloud Managed Service Market
As more and more businesses move to the cloud, the demand for cloud managed services is growing. Here are some of the top trends in cloud managed services:
1. Increased Automation: One of the biggest trends in cloud managed services is increased automation. This helps to reduce costs and increase efficiency.
2. Increased Flexibility: Another trend is increased flexibility. This means that businesses in the global cloud managed service market can scale up or down as needed, without having to worry about over spending on infrastructure.
3. Pay as You Go Model: The pay as you go model is becoming increasingly popular among businesses of all sizes. This allows businesses to only pay for the resources they use, which can save a lot of money in the long run.
4. Hybrid Cloud Solutions: Hybrid cloud solutions are becoming more popular as they offer the best of both worlds – the flexibility of the cloud with the security of on-premise data centers.
5. Multi-Cloud Strategies: More and more businesses are adopting multi-cloud strategies, which involve using multiple different cloud providers for different workloads. This can help to improve redundancy and performance while also allowing businesses to take advantage of each provider’s strengths.
Pay-as-you-Go Model is Getting Popularity in Global Cloud Managed Service Market
The pay-as-you-go (PAYG) model is getting popularity in the global market. In this model, the service provider charges the customer based on the actual usage of resources. This pricing model is flexible and offers many benefits to both service providers and customers.
There are several reasons why the PAYG model is becoming more popular in the cloud managed service market. First, it is a more affordable option for many businesses. With this model, businesses only have to pay for the resources they use, so they can save money on their cloud management costs. Second, the PAYG model is flexible and scalable. Businesses can scale their usage up or down as needed, so they can adjust their costs accordingly. This flexibility is especially helpful for businesses that have fluctuating needs or that are growing rapidly.
For service providers, PAYG model allows them to offer cloud management services at a lower cost. They can also scale their services up or down as per the customer's needs without any upfront investment. For customers, PAYG model provides them with the flexibility to use only what they need and pay only for what they use. However, PAYG model is particularly beneficial for small and medium businesses who want to adopt cloud management services but are hesitant due to the high costs involved. With PAYG, they can start small and scale up as their business grows.
Thus, it is no surprise that the pay-as-you-go model is getting popularity in the global cloud managed service market.
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Top Players in the Global Cloud Managed Service Market
- IBM technologies (U.S.)
- Huawei Technologies (China)
- 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)
- Ericsson (Sweden)
- AWS (US)
- Infosys (India)
- Atos (France)
- Alcatel-Lucent (France)
- TCS (India)
- Wipro (India)
- Rackspace (US)
- Datacom (New Zealand)
- Cloudicity (Washington)
- Connectria (US)
- DLT Solutions (US)
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