Managed Cloud Services Market

Market Definition:

The Managed Cloud Services Market size was valued at USD 76.40 billion in 2022 and is predicted to reach USD 196.63 billion by 2030 with a CAGR of 12.6% from 2023-2030.

Managed cloud services encompass services that offer partial or complete management of a client’s cloud resources or infrastructure. This includes a variety of IT task such as migration, configuration, maintenance, security, and optimization. These services can be provided on private, public or hybrid cloud environments to enable an organization minimize its internal IT tasks and thereby save time and cost.

Other benefits of managed cloud services include resource optimization, integrated cloud services, predictable pricing, disaster recovery support, compliance support, improved system availability, rapid response time, and many others. Cloud-managed services can also be customized according to the business requirements and budget.

Market Dynamics and Trends:

Increasing adoption of cloud infrastructure especially among enterprises in Asia-Pacific and North America is a major factor expected to drive the growth of managed cloud services market during the forecast period. For instance, on February 04, 2020 NTT DATA Services went into a three-year strategic collaboration agreement with Amazon Web Services, Inc. to deliver new products, services, and solutions that are designed to accelerate cloud transformations. With this collaboration, NTT DATA can provide its clients advisory and development services, as well as implementation, migration, and management of solutions on AWS.

Growing demand for cloud migration services and increased adoption of subscription-based cloud service that offers on-demand network access to shared pool of computer resources are boosting managed cloud services market. In addition, inclination towards data-driven technologies such as big data and analytics along with growing need for platform-as-a-service further increase the demand for cloud storage. Moreover, factors such as increased investments across countries towards the adoption of advance technology to make existing infrastructure agile have resulted into greater utilization of managed cloud services.

However, rising concerns associated with cyber security and data privacy are the factors restraining the growth of market during the forecast period. On the contrary, proliferation of cloud services in developing economies such as India and china coupled with rise in private and public sector investments in cloud infrastructure amidst COVID-19 and work from home scenarios are factors expected to create ample growth opportunities for the market in the coming years.

Market Segmentations and Scope of the Study:

The managed cloud services market is segmented on the basis of deployment type, enterprise size, services, industry vertical, and geography. On the basis of deployment type, the market is divided into public cloud, private cloud, and hybrid cloud. On the basis of enterprise size, the market is classified into small and medium enterprises and large enterprises. On the basis of services, the market is categorized into managed business services, managed security services, managed network services, managed mobility services, managed infrastructure services, and managed communication and collaboration services. On the basis of industry vertical, the market is categorized into healthcare and life sciences, media, advertising, and entertainment, banking, financial services and insurance, IT and telecommunication, retail and ecommerce, transportation and logistics, government, and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis:

North America holds the highest revenue share in global managed cloud services market in 2020. This is attributed to factors such as increased adoption of public cloud infrastructure and rise in IT spending among various industries in this region in the aftermath of the COVID-19 crisis. Moreover, presence of major players operating in this region has been further driving the growth of the market.

For instance, in Oct, 2021 Fast-food restaurant chain Wendy’s partnered with Google Cloud to use Google Cloud’s data analytics, artificial intelligence (AI), machine learning (ML), and hybrid Cloud tools. This helped Wendy to increase the customer base with the help of managed cloud services. However, Asia-Pacific managed cloud services market is expected to show a swift rise in the coming years due to intriguing government’s initiatives and investments in the cloud sector.

For instance, On January 31, 2021, China’s State Council announced an “Action Planfor Constructing a High-Standard Market System”. This plan directs experts or authorities to expand investment in new infrastructure construction that includes cloud computing, artificial intelligence, blockchain, andother new technology infrastructure. In addition, the new infrastructure construction also includes data centers, smart computing centers, and other computing power infrastructure.

Competitive Landscape:

The managed cloud services market is comprised of various market players such as Accenture Plc, Google LLC, Cisco Systems, Inc., Cloudnexa, Inc., Telefonaktiebolaget LM Ericsson, IBM Corporation, Amazon Web Services, Inc., Rackspace Technology, Inc., Capgemini SE, NTT DATA Corporation, and Infosys Limited. Some of the other key players includes Wipro Limited, Hewlett Packard Enterprise Company, Tata Consultancy Services, Datacom Group Limited, and Microsoft Corporation. Some of the players are launching innovative solutions to garner high consumer base.

For instance, in March 2020, Lightstream and CloudCheckr announced a strategic partnership to launch Lightstream Cloud Managed Services (CMS). The Lightstream’s CMS solution helps organizations of all sizes to improve the day-to-day administration and maintenance of their cloud infrastructures through a flexible mix of consulting, integration and managed services.

 

KEY BENEFITS:

• The managed cloud services market report provides the quantitative analysis of the current market and estimations through 2023-2030 that assists in identifying the prevailing market opportunities to capitalize on.

• The study comprises a deep dive analysis of the managed cloud services market trend including the current and future trends for depicting the prevalent investment pockets in the market.

• The information related to key drivers, restraints and opportunities and their impact on the managed cloud services market is provided in the report.

• The competitive analysis of the market players along with their market share in the managed cloud services market

• The SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.

KEY MARKET SEGMENTS:

By Deployment Type

• Public Cloud

• Private Cloud     

• Hybrid Cloud

By Enterprise Size

• Small and Medium Enterprises

• Large Enterprises

By Services

• Managed Business Services

• Managed Security Services

• Managed Network Services

• Managed Mobility Services

• Managed Infrastructure Services

• Managed Communication and Collaboration Services

By Industry Verticals

• Healthcare and Life Sciences

• Media, Advertising, and Entertainment

• Banking, Financial Services and Insurance

• IT and Telecommunication

• Retail and ECommerce

• Transportation and Logistics

• Government

• Others

By Geography

• North America

  • U.S

  • Canada

  • Mexico

• Europe

  • UK        

  • Germany        

  • France        

  • Spain        

  • Italy        

  • Netherlands        

  • Denmark        

  • Finland        

  • Norway        

  • Sweden        

  • Russia        

  • Rest of Europe

• Asia-Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia-Pacific    

• RoW

  • Latin America

  • Middle East        

  • Africa

KEY PLAYERS

• AccenturePlc
• Google LLC
• Cisco Systems, Inc.
• Cloudnexa, Inc.
• Telefonaktiebolaget LM Ericsson
• IBM Corporation
• Amazon Web Services, Inc.
• Rackspace Technology, Inc.
• Capgemini SE
• NTT DATACorporation
• Infosys Limited

  REPORT SCOPE AND SEGMENTATION:

  Parameters	Details
  Analysis Period	2022–2030
  Base Year Considered	2022
  Forecast Period	2023–2030
  Market Size Estimation	Billion (USD)
  Market Segmentation	By Deployment Type (Public Cloud, Private Cloud, and Hybrid Cloud), by Enterprise Size (Small and Medium Enterprises and Large Enterprises), by Services (Managed Business Services, Managed Security Services, Managed Network Services, Managed Mobility Services, Managed Infrastructure Services, and Managed Communication and Collaboration Services), by Industry Verticals(Healthcare and Life Sciences, Media, Advertising, and Entertainment, Banking, Financial Services and Insurance, IT and Telecommunication, Retail and E-commerce, Transportation and Logistics, Government, and Others)
  Countries Covered	28
  Companies Profiled	Accenture Plc, Google LLC, Cisco Systems, Inc., Cloudnexa, Inc., Telefonaktiebolaget LM Ericsson, IBM Corporation, Amazon Web Services, Inc., Rackspace Technology, Inc., Capgemini SE, NTT DATA Corporation, and Infosys Limited.