Cloud Managed Services Market worth $53.78 Billion by 2022 – Growing at a CAGR of 14.6%


Posted October 30, 2018 by DalyRuby

Cloud managed services market categorizes the global market by services as business services, network services, security services, mobility and data center, by deployment type, by industry application, by verticals, & by regions.

 
According to the new market research report "Cloud Managed Services Market by Service Type (Managed Infrastructure, Managed Network, Managed Security, Managed Data Center, and Managed Mobility Services), Deployment Type, Organization Size, Industry Vertical, and Region - Global Forecast to 2022", published by MarketsandMarkets™, the cloud managed services market size is projected to grow from USD 27.15 Billion in 2017 to USD 53.78 Billion by 2022, at an expected Compound Annual Growth Rate (CAGR) of 14.6%.

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Cloud managed services are witnessing a rising demand across the globe due to the growing need of businesses to curb down operational and infrastructural costs involved in business processes. The expanding big data space has facilitated a greater demand for managed analytical services and cloud storage services.

Cloud managed services show an increasing trend in the adoption, by companies across the globe in order to reduce the rising costs and to standardize the business processes across the organization. Thus, due to the increase in digitization and mobility among enterprises, the cloud managed services providers are increasing their efforts to boost their revenues. Strategic acquisition is an important strategy adopted by the market players providing companies with greater capital and resources, helping them invest more in Research and Development (R&D) to develop new services and gain traction in the cloud managed services market.

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The descriptive insights market is estimated to dominate the Insights-as-a-Service market share during the forecast period
The descriptive insights segment is estimated to have the largest market share in the Insights-as-a-Service market. Organizations’ focus on offering specialized services to achieve greater customer experience and achieving operation efficiency at a reduced cost & time is driving the demand for insights services across the globe. The Insights-as-a-Service market is growing at an exponential rate, since most of the players are focusing on providing specialized services for the businesses. A rapid growing demand for customer satisfaction with better and faster support through data insights and its reliable & efficient integration are some of the other drivers impacting the services market.

Asia Pacific (APAC) is expected to grow at the highest CAGR in the cloud managed services market during the forecast period. The APAC region is emerging to be the world’s most powerful economy due to the increased investments for enhancing performance and economic stability. The APAC region comprises emerging economies, such as China, India, Japan, Singapore, Malaysia, and Australia. This region is likely to witness a surge in the deployment of cloud managed services. This can be majorly attributed to the rise in digital transformation and adoption of cloud in the region, considering large companies in the US and the UK are targeting developing regions and new avenues in the APAC region.

Healthcare is likely to be the fastest growing vertical in terms of adoption of cloud managed services during the forecast period. Social security numbers, insurance IDs, addresses, credit card information, and medical details are at high at risk because they usually contain valuable data. This has made cloud managed services essential for healthcare and life sciences departments. These services help the healthcare organizations to focus more on their core functions. Moreover, due to highly proliferated digital medical devices, cloud-based network management has become important to save devices from malicious attacks.

The private cloud deployment type is expected to grow at the highest CAGR from 2017 to 2022. As organizations across the globe are going digital and mobile devices and cloud adoption is gaining traction, the companies are looking out for services that could help them in keeping their IT infrastructure constantly monitored by a dedicated party while still focusing on its core productive areas. The private cloud-based deployment is gaining high traction in the market as it provides better control of the data and can reduce the risk of loss of data and issues connected to the regulatory compliance. Moreover, due to its seamless benefits such as organization control, cost and energy efficiency, and improved reliability, companies prefer to deploy private cloud in their environment.
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Cloud managed services include managed business, network, security, data center, and mobility services. There are several renowned vendors in the cloud managed services market, such as Cisco Systems (US), Ericsson (Sweden), Huawei Technologies (China), IBM Corporation (US), and NTT Data Corporation (Japan) are some of the top key players in the cloud managed services market. These players have adopted various strategies, such as partnerships, collaborations, agreements, mergers and acquisitions, and new product developments to achieve growth in the cloud managed services market.

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Tags cloud managed services , cloud managed services industry , cloud managed services market , cloud managed services market size
Last Updated October 30, 2018