Cloud Managed Services Market Is Expected To Reach around USD 145.6 Billion by 2030, Grow at a CAGR Of 13.40% during Forecast Period 2023 To 2030 | Data By Contrive Datum Insights Pvt Ltd.

Farmington, Jan. 19, 2023 (GLOBE NEWSWIRE) -- The Global Cloud Managed Services Market Is Projected To Grow at a Rate Of 13.40% CAGR during the Forecast Period. It Is Estimated That The Market Will Grow And Further Reach Up To USD 145.6 Billion During The Forecast Period 2023-2030. In the group of halogens, Cloud Managed Services is the third-largest element. It is a red liquid with the atomic number 35 that is solid at room temperature. Cloud Managed Services is used in many places around the world as a reactant and a catalyst. Cloud Managed Services is used to make medicines, disinfectants, biocides, agrochemicals, dyes, chemicals for taking photos, and flame retardants. The most Cloud Managed Services comes from the Dead Sea. It is found in Israel and the United States, among other places. People everywhere think that these two places are the most productive. In this way, the growth of the global Cloud Managed Services market is being driven by the rising demand for Cloud Managed Services. End-user industries like oil and gas, textiles, aerospace, cars, cosmetics, and drugs are becoming more interested in this global market. Aside from this, environmental worries about how Cloud Managed Services is used are slowing the growth of the global market in a big way.

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Recent Developments:

• In August 2022, SkyMax signed a memorandum of understanding with Ericsson to form a partnership to build the next generation of 5G broadband network, including a platform to deliver digital services, across sub-Saharan Africa
• In June 2022, Cisco introduced new cloud management capabilities that provide a unified experience across Cisco Meraki, Cisco Catalyst, and Cisco Nexus portfolios, as well as a new Cisco ThousandEyes product to proactively forecast and optimize WAN performance. These innovations underscore Cisco's strategy to provide customers with the agility, resiliency, and productivity their businesses need to thrive in the unpredictable power of cloud-managed platforms.

Segment Overview

By Service Type Analysis

In 2019, the managed network services market had the largest share of the market. This market is growing because more and more businesses are using cloud managed services to handle network services and the management and administration of their networks. Companies can build and manage remote data networks like WAN, LAN, and WLAN with the help of cloud-based network managed services. The fact that these services can be used for many different things, like setting up high-quality network solutions, IT networks management and monitoring services, equipment maintenance, and ICT systems maintenance services, among other things, has also helped the number of people using these services grow at an exponential rate in recent years.

The managed security services segment is expected to grow at a high CAGR during the time frame of the projection. More and more businesses are using security services, which is making this market grow. Managed security service providers (MSSPs) offer a wide range of services, such as handling security and responding to incidents. This means that more people are likely to use these services during the planned time.

By Deployment Analysis

In 2019, private cloud deployment of cloud managed services had the biggest share of the market. The private cloud can help businesses in many ways, like giving them more control over their data and keeping it safe. This strategy also helps businesses save money and stay consistent. With a private cloud, a company can change its resources to meet its own IT needs. Most of the time, these systems are used to improve operational security by governments, banks, and other medium-sized to large organisations with mission-critical operations.

During the time period in question, the public cloud segment is expected to grow at the highest CAGR. People are using the public cloud more and more because it has cheap computing resources and lets you use virtualization.

By Enterprise Size Analysis

During the time frame of the forecast, the largest share is expected to come from the large enterprise segment. By putting their IT services in the cloud, big businesses can save money on their IT costs. The point of these services is that you pay for them as you use them. Also, these services help large companies manage their operational and data needs so they can reach their efficiency goals. They also make the service capacity more flexible, better connected, and more reliable.

During the time period of the forecast, the CAGR for the SME category is expected to be the highest. As small and medium-sized businesses try to cut costs and improve business operations, they will be more likely to use these services.

By Vertical Analysis

Cloud managed services are being used by IT and telecom companies quickly to improve service maintenance for a wide range of applications. By moving to the cloud, you'll save money and have less need for internal computers. IT and telecom companies were also early adopters of helpful technologies like Bring Your Own Device (BYOD), Machine Learning, and others, which have helped the industry grow even more.

The healthcare industry will need cloud-based services more and more as infrastructure changes. In the past few years, a lot of information has been collected because of research and health care. Health care providers use cloud-managed services because it takes cloud expertise to handle these kinds of data. Businesses can focus on what they do best when their platforms are built on the cloud.

Regional Outlook:

North America is expected to have the biggest market share for cloud managed services. Most of the market growth in this area is due to improvements in technology and infrastructure. Major players in the area are also making changes to the market.

The most cloud managed services will be on the market in Europe. The market is growing because more people want new technologies and the infrastructure that supports them is getting better. Businesses like Verizon Communications, NTT DATA Services, and many others are helping the markets in European countries grow.

During the time frame of the forecast, the market for cloud-based managed services in Asia-Pacific will also grow quickly. Most of the growth will happen in the Asia-Pacific area, where cloud services are becoming more popular. Because of this, as development keeps growing, the market will eventually do well in the years to come.

The rest of the world includes Africa and the Middle East. These countries will grow less quickly than others around the world. There aren't enough new technologies, and people don't know enough about them, so the market won't grow any more. Overall, there are a lot of things that will cause the cloud managed services market in these places to grow a lot.

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Scope of Report:

Drivers:

One of the main things that drives the market for cloud managed services is the growing number of industries that use the cloud. In the coming years, these factors will help the market grow and make it worth more. Because of this, the market for cloud-based managed services will grow a lot over the next few years.

Restraints:

Several things could make it hard for the market for cloud-managed services to grow. The biggest risks come from how private information is used and shared. In the end, the service providers will focus more on security measures that can slow down growth.

Opportunities:

The market for global cloud managed services will open up new ways for businesses in many different fields to manage their data more effectively. Because of this, the costs of operations and information technology will go down. Because of these prospects and investments from big companies around the world, the market is likely to do well.

Key Segments Covered:

Top Market Players:
Accenture PLC (Dublin, Ireland), Alcatel-Lucent S.A. (Boulogne-Billancourt, France), Amazon Web Services, Inc. (Washington, United States), Atos (Bezons, France), Augmentt Technology Inc. (Ontario, Canada), Bespin Global (Seoul, South Korea), Capgemini SE (Paris, France), Cisco Systems Inc. (California, United States), Cloudticity, LLC (Washington, United States), Cognizant Technology Solutions Corporation (New Jersey, United States), Datacom Group Ltd (Jakarta, Indonesia), Deloitte Touche Tohmatsu Limited (London, United Kingdom), DLT Solutions (Virginia, United States), DXC Technology Company (Virginia, United States), Fujitsu Ltd. (Tokyo, Japan), Google LLC (California, United States), HCL Technologies Limited (Noida, India), Hewlett Packard Enterprise Development LP (California, United States), Huawei Technologies Co., Ltd. (Shenzhen, China), IBM Corporation (New York, United States), Infosys Limited (Bengaluru, India), Logicworks (New York, United States), Lumen Technologies, Inc. (CenturyLink) (Louisiana, United States), NEC Corporation (Tokyo, Japan), Nordcloud Oy (Helsinki, Finland), NTT DATA Corporation (Tokyo, Japan), Progressive Infotech Pvt. Ltd. (Noida, India), Rackspace US, Inc. (Texas, United States), Smartronix, LLC (Maryland, United States), Taos Mountain LLC (California, United States), Telefonaktiebolaget LM Ericsson (Stockholm, Sweden), Wipro Limited (Bengaluru, India), and others.

By Service Type

• Managed Business Services
• Managed Network Services
• Managed Infrastructure Services
• Managed Security Services
• Managed Mobility Services
• Managed Communication
• Collaboration Services
• Other

By Enterprise Size

• SMEs
• Large Enterprises
• Other

By Deployment

• Public Cloud
• Private Cloud
• Others

By Vertical

• Banking, Financial Services, and Insurance (BFSI)
• IT and Telecommunications
• Government and Public Sector
• Healthcare and Life Sciences
• Retail and Consumer Goods
• Manufacturing
• Others

Regions and Countries Covered

• North America: (US, Canada, Mexico, Rest of North America)
• Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
• Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
• The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
• Latin America: (Brazil, Argentina, Rest of Latin America)
• Rest Of the World

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