What is the global market size of Cloud Managed Service Market?

Cloud Managed Service Market size was valued at USD 235.19 billion in 2021 and is poised to grow from USD 267.3 billion in 2022 to USD 731.08 billion by 2030, growing at a CAGR of 13.6% in the forecast period (2023-2030).

Who are the key vendors in the Global Cloud Managed Service Market?

The global cloud managed service market is relatively fragmented, with a high level of competition. Few large players, like Accenture, Alcatel-Lucent, Atos, AWS, Cisco, Datacom, DLT Solutions, Ericsson, HPE, Huawei, IBM, Infosys, NEC, NTT DATA, Rackspace, Inc, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability. 'IBM', 'Accenture', 'HCL Technologies', 'Wipro', 'Tata Consultancy Services', 'Atos', 'DXC Technology', 'Fujitsu', 'Cognizant', 'Infosys', 'NTT Data', 'Capgemini', 'Unisys', 'CGI', 'Tech Mahindra', 'Dimension Data', 'BMC Software', 'Mindtree', 'Rackspace', 'Virtusa'

What is the key driver of Global Cloud Managed Service Market?

IT system management is crucial for any organization and Managed Service Providers are capable of addressing IT issues (MSPs). Most MSPs enable 24x7 monitoring in order to draw clients. IT systems are monitored by security solutions to look for potential threats or disturbances.

What is the key market trend for Global Cloud Managed Service Market?

Increase in use of digitalization for enterprises: The growing global trend of enterprise digitalization and mobility will present enormous chances for cloud managed service market participants to increase their profits.

Which region accounted for the largest share in Global Cloud Managed Service Market?

Geographically, North America has held the highest share of the global cloud managed service market and is expected to expand rapidly over the next few years. This market expansion is attributable to the region's greater adoption rates for cloud computing technologies and the expansion of data center deployment. Additionally, this region has embraced cloud-managed services with advanced features thanks to the growth of IT industry. Additionally, it has been noted that a sizeable number of suppliers for cloud management systems are present in this region and have advanced to the maturity level in the market for cloud-managed services.

Cloud Managed Service Companies

Cloud Managed Service Market Competitive Landscape

Top Players in the Global Cloud Managed Service Market

IBM (US)
Ericsson (Sweden)
Cisco (US)
Fujitsu (Japan)
Accenture (Ireland)
AWS (US)
NTT DATA (Japan)
Infosys (India)
HPE (US)
NEC (Japan)
Atos (France)
TCS (India)
Wipro (India)
Datacom (New Zealand)
AT&T (US)
HCL Technologies (India)

Cloud Managed Service Market

FAQs

Global Cloud Managed Services Market size was valued at USD 235.30 Billion in 2022 poised to grow from USD 267.30 Billion in 2023 to USD 741.35 Billion by 2031, growing at a CAGR of 13.6% in the forecast period (2024-2031).

One of the primary business strategies used by manufacturers in the global cloud-managed services sector to assist customers and expand the market sector is local manufacturing in order to reduce operating costs. Some of the biggest benefits to the IT and telecom sectors in recent years have come from the cloud-managed services sector. Prominent industry participants are making significant investments in R&D to broaden their product offerings, contributing to the further expansion of the cloud-managed services market. 'IBM (US)', 'Ericsson (Sweden)', 'Cisco (US)', 'Fujitsu (Japan)', 'Accenture (Ireland)', 'AWS (US)', 'NTT DATA (Japan)', 'Infosys (India)', 'HPE (US)', 'NEC (Japan)', 'Atos (France)', 'TCS (India)', 'Wipro (India)', 'Datacom (New Zealand)', 'AT&T (US)', 'HCL Technologies (India)'

The pandemic-induced global shutdown and remote work arrangements compelled both big and small businesses to heavily rely on cloud services and concentrate on digital transformation. Organisations find moving to the cloud gives them more flexibility and is more cost-effective.

Transformative Power of Automation in the CMS Market: IT services are being transformed by the cloud managed services market. A pressing need for managed services that improve the performance, security, and efficiency of cloud structures arises as increasingly many companies move towards the cloud. More and more businesses are turning to multi-cloud strategies, which share risk and improve efficiency. This is vital to reduce vendor lock-in while enhancing flexibility.

North America has become the global leader in managed cloud services due to its impressive technological infrastructure, extensive cloud utilization, and numerous large-scale service operators. The region enjoys a vibrant start-up scene and an emphasis on IT flexibility and digital transformation within which large service providers thrive. The existence of large enterprises and significant expenditures on business research and development thus impacts on this need for state-of-the-art cloud based management services. Meanwhile, North American regulations encourage organizations to adopt cloud computing so that they can enhance information security and meet compliance requirements. The region is also leading in data analytics as well as artificial intelligence where most of these companies are located.

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What is the global market size of Cloud Managed Service Market?

Who are the key vendors in the Cloud Managed Service Market?

What is the key driver of Cloud Managed Service Market?

What is the key market trend for Cloud Managed Service Market?

Which region accounted for the largest share in Cloud Managed Service Market?

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