United States, Rockville, MD, April 06, 2022 (GLOBE NEWSWIRE) -- The cloud managed services market revenues were estimated at US$ 86.1 Bn in 2021 and is anticipated to grow at a CAGR of 9.6% from 2022-2032, according to a recently published Fact.MR report. By the end of 2032, the market is expected to reach US$ 237.0 Bn.
US market held a market share of nearly 34% and this trend is likely to be continued due to the predicted CAGR of 9.4% in the next ten years. Market growth is expected to be fueled by the growing demand for cloud managed services owing to its demand being driven by increasing demand of high speed data transfer and storage with large network infrastructure.
Browse in-depth TOC on "Sales of Cloud Managed Services"
32 Tables and
123 Figures
188 Pages
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The continuous surge in digitization and increase in demand of IT infrastructure is propelling the demand for high speed internet which is consequently driving the need for logistics in IT systems for high-speed data transfer, big data storage and need of data centers with increasing consumers on digital platforms.
Key Takeaways from the Market Study
- Global cloud managed services market is expected to reach a market size of US$ 237 Bn by 2032.
- In 2022, US to contribute more than 34% to the market revenue.
- In Cloud Managed Services Demand, large enterprises is expected to account for growth at CAGR of 9.4% during forecasted period.
- Managed network services show the highest potential for growth in the service type segment. Its market is expected to grow at a rate of about 9.1% during 2022- 2032.
- U.S., the key market is expected to hold the prominent market share and grow at a CAGR of 9.4% during 2022 - 2032.
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Competitive Landscape
A number of regional and global players operate in this market. The key companies in cloud managed services market include IBM, Ericsson, AWS, Cisco, Infosys, NTT Data, Fujitsu, Accenture, HPE, NEC, Google, Microsoft, Intel, and DigitalOcean. A variety of strategies are being employed by companies to remain competitive.
There are three types of cloud managed services including public cloud, private cloud and hybrid cloud. Nowadays, people can view and edit documents using mobile phones, using Microsoft’s Office Web Apps, and Google Docs. This type of cloud computing service model called as ‘Software as a Service’ (SaaS).
- In September 2021, Nimbella, which provides serverless platform is acquired by DigitalOcean to provide cloud services to help businesses scale operations.
- In April, 2021, Nuance Communications, a provider of conversational AI and cloud-based in healthcare, is acquired by Microsoft at US $19.7 Bn.
- In April, 2020, IBM Corporation announced to form new company "NewCo" by separating its managed infrastructure services unit of its Global Technology Services division into a new public company.
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Market Segments Covered in Managed Network Services Demand Analysis
- By Service Type :
- Managed Business Services
- Managed Network Services
- Managed Security Services
- Managed Infrastructure Services
- Managed Mobility Services
- Managed Communication and Collaboration Services
- By Vertical :
- BFSI
- Telecom
- Government and public sector
- Healthcare and life sciences
- Retail and Consumer goods
- Manufacturing
- Energy and Utilities
- IT
- Others (Transport, Education, and Travel and Hospitality)
- By Organization Size :
- Large Enterprises
- Small And Medium-Sized Enterprises
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More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the cloud managed services market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of Service Type (Managed Business Services, Managed Network Services, Managed Security Services, Managed Infrastructure Services, Managed Mobility Services, Managed Communication and Collaboration Services), by Vertical (BFSI, Telecom, Government and public sector, Healthcare and life sciences, Retail and Consumer goods, Manufacturing, Energy and Utilities, IT, Others), by Organization Size (Large Enterprises, Small And Medium-Sized Enterprises) and across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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