Global Cloud Managed Services Market organization control, cost and energy efficiency, and improved reliability, companies Research Reports 2018-2023

The report also presents a thorough overview of the competitive landscape of the global Cloud Managed Services Market and the detailed business profiles of the market’s notable players. Threats and weaknesses of leading companies are measured by the analysts in the report by using industry-standard tools such as Porter’s five force analysis and SWOT analysis.

The cloud managed services market is expected to grow from USD 27.15 Billion in 2017 to USD 53.78 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 14.6%. Increasing ICT spending and growing trend of big data analytics, increasing adoption of managed services by SMEs, and need for companies to focus on their core business are the major drivers of this market.

Mobility services and security services are the fastest growing managed service in the market. The proliferation of mobile devices and trend of BYOD in various organizations has made companies to seek for services that could help them to manage these devices along with the data generated through it, for better utilization and security need. Moreover, IoT adoption and big data trend has led to sudden requirement of data security due to which, managed security services is witnessing high demand among customers. Moreover, these requirements have led SMEs to opt and demand for managed services and focus on their core business to incur better results.

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Private cloud-based deployments 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 its seamless benefits such as organization control, cost and energy efficiency, and improved reliability, companies prefer to deploy private cloud in their environment.

Large enterprises had the highest market size, whereas, SMEs are expected to gain high traction of cloud managed service during the forecast period of 2017-2022. Unlike large enterprises, SMEs have resource crunch and need to manage their processes with limited budget. Managed services help them to outsource their less important activities and focus on their core business requirements. Furthermore, security and compliance, reduction in downtime are some of the major benefits small enterprises are experiencing through the adoption of managed services.

MAJOR VENDORS IN THE CLOUD MANAGED SERVICES MARKET INCLUDE:
IBM Corporation (US), Cisco Systems (US), Ericsson (Sweden), Accenture PLC (Republic of Ireland), NTT Data Corporation (Japan), Fujitsu Ltd. (Japan), Huawei Technologies(China), and NEC Corporation(Japan).

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Asia Pacific (APAC) is expected to grow at the highest CAGR from 2018 to 2023 in the cloud managed services market. With the companies rapidly outsourcing IT related functions in the APAC region, cloud and managed service model has become of utmost importance to them for better productivity and cost-effectiveness. This has increased the demand for managed services. Moreover, North America being the most advanced region in cloud technology has higher adoption of managed services due to the increased organizational and communication activities.

Concerns for privacy and security and inefficiency of cloud model facing issues of connectivity and high bandwidth cost are some of the restraints of the market. The pace with which companies are embracing IT technology, solutions, and platform, it is important for the companies to opt for better privacy and security services and thus companies are relying on managed service. However, companies feel the deployment of cloud managed services would result in the loss of control over their infrastructure. Thus, this factor remains a constraint for organizations before deploying these services.

However, due to the increasing cloud adoption, many companies are able to provide huge number of managed service with ease to cater to the customer requirements.

These players adopted various strategies such as new product development, mergers and acquisitions, collaboration, and partnerships to serve the cloud managed services market. With the help of cloud and big data technologies, the current dominant market players in cloud managed services are able to innovate a number of services to cater to demands of the customers. Improving economy and internet use across all the regions is giving chance to these companies to serve customers with better services.

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The analysis of the manufacturing cost structure of the Global Cloud Managed Services Market has been performed based on key aspects such as industry chain structure, manufacturing process, raw materials, and their suppliers. The manufacturing plants analysis and technical data of the market have been explained in the lights of raw material sources, technology sources, research and development status, manufacturing plants distribution, and commercial production date and capacity.

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