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.
Key Takeaways from the Market Study:
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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.
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Cloud Managed Services Industry News:
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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Cloud managed services refer to the outsourcing of IT services to a cloud provider, which manages and maintains the infrastructure and applications, allowing businesses to focus on their core activities.
Market share is the percentage of an industry's sales that a particular company controls. It is an important indicator of a company's competitiveness and market position.
The competitive landscape refers to the dynamic external environment in which businesses operate, including competitors, market trends, and consumer preferences, which influences strategic planning and decision-making.
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