Cloud Managed Services Market Size 2030 Trends and Growth, Segmentation and Key Companies with Top key players in Industry

In a recent published report, Kenneth Research has updated the market report for Cloud Managed Services Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Cloud Managed Services Market products.

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The Cloud Managed Services Market is estimated to record a significant growth throughout the forecast period. The ICT sector constitutes 4.8% of the European economy. Europe’s organization ERDF i.e. European Regional Development Fund has allotted approximately USD 23 billion for investments related to ICT during the funding period 2014-2020. ICT refers to the communication technologies including the internet, wireless networks, social networking, cell phones, video-conferencing, computers, software, and other media applications and services enabling users to access, retrieve, and manipulate information in a digital form.

As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017. In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years.

Cloud Managed Services are in high demand owing to the increasing usage of cloud-based applications among businesses for storing their data. The cloud-based applications are increasing adopted due to their cost efficiency and economical manner for storing data. The growing usage of cloud-based application has encouraged businesses to take help from managed service providers to manage their cloud-based applications.

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Technology giants such IBM technologies (U.S.), Huawei Technologies (China), Alcatel-Lucent (Finland), NTT DATA Corporation (Japan), Cisco Systems (U.S.), Ericsson (U.S.). IBM technologies a prominent player in cloud managed services market, provides managed hybrid infrastructure service with today’s IT demands which can be complex, costly and time-consuming. IBM Integrated Managed Infrastructure Services can simplify hybrid infrastructure management with modular services as users only pay for what they need.

IBM can globally deliver dynamic remote management services for a broad range of traditional and cloud infrastructures. They use advanced automation and analytics to manage critical infrastructure components worldwide. They also provide fully managed, security-rich and production-ready cloud environment which is designed to provide enterprise-class performance, and availability.

The major factors driving the growth of the cloud managed services market is the emphasis on minimizing the IT cost and the need to focus on business function. Other major aspects are rise in cloud automation, automation helps in supporting business needs with IT by increasing the delivery speed of services for end users. The associated risks such as private information leak, data theft, and data misuse are the reason many companies do not prefer cloud managed services.The global cloud managed services market is expected to grow at a CAGR of approximately 15% during the forecast period 2017-2023.

Key Players

Some of the prominent players in the global cloud managed services market: IBM technologies (U.S.), Huawei Technologies (China), Alcatel-Lucent (Finland), 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) among others.

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Segments

The global cloud managed services market is segmented by type, deployment, organization size, and end-user. The type segment consists of managed infrastructure services, managed network services, and managed security services, managed data center services, managed mobility services, and managed communication services. The deployment type segment consists of public cloud and private cloud. The organization size segment consists of small & medium enterprises and large enterprises. The vertical segment consists of BFSI, telecommunication and IT, government, healthcare, retail, manufacturing, energy & utilities, and others.

Regional Analysis

 The global cloud managed services market is studied for Asia Pacific, North America, Europe, and Rest of the World. It has been observed that North America accounts for the largest share in the global Cloud Managed Services market. Owing to technological advancement, well-established infrastructure and seamless internet connectivity. Further, the presence of major players such as Cisco Systems, Verizon Communications and NTT DATA Services (U.S.) is boosting the market growth European region accounts for second position in cloud managed service market followed by Asia Pacific. Asia Pacific is anticipated to have the highest growth rate in the forecast years due to increasing adoption of cloud based business application and growth in the cloud service providers.

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Intended Audience

Technology Investors

Research/Consultancy firms

Original Instrument Manufacturers

Associations, organizations, forums, and alliances

Cloud Managed Services manufacturers

Contact center infrastructure vendors

Managed speech analytics service providers

Value added resellers

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