Press release
Cloud Managed Services Market: Tangible Growth Triggers, Market Size Estimates, and Future Projections
What Is The Projected Market Size Of The Global Cloud Managed Services Market And Its Growth Rate?
The global cloud managed services market displays progressive growth figures, predicted to rise from $96.12 billion in 2024 to $105.21 billion in 2025 at a compound annual growth rate (CAGR) of 9.5%. The market's growth is attributed to various factors such as:
• Service Type: Managed Business Services, Managed Network Services, Managed Security Services, Managed Infrastructure Services, Managed Mobility Services, Managed Communication And Collaboration Services.
• Deployment: Public Cloud, Private Cloud.
• Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs).
• End-User: Government, Retail, IT And Telecommunication, Manufacturing, BFSI, Healthcare, Energy And Utilities.
What Is Driving The Growth In The Cloud Managed Services Market?
A key contributor to the surging growth of the cloud-managed services market is the widespread adoption of cloud technology across enterprises. The rise in remote work due to the Covid-19 pandemic propels an unprecedented demand for adaptable, scalable, and remotely operable IT solutions. Consequently, cloud-managed services - offering crucial infrastructure, security, and support for organizations to excel in the dynamic remote work environment - are witnessing significant traction.
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Who Are the Key Players Driving Cloud Managed Services Market Growth?
The growth trajectory of the cloud-managed services market is largely influenced by the increasing trend of remote work, known as telecommuting or telework. This work arrangement allows workers to perform their job tasks from locations outside of the traditional workplace, typically homes or other remote locations, boosting the demand for cloud-managed services.
What Are The Key Trends In The Cloud Managed Services Market?
Several key trends are shaping the landscape of the cloud managed services market, including:
• Rise of cloud computing
• Initiatives for business cost reduction
• Security concerns and compliance needs
• Industry-specific requirements
• Complexity of operations.
What Are The Segments Of The Global Cloud Managed Services Market?
The global cloud managed services market is divided into the following segments:
• Managed Business Services
• Managed Network Services
• Managed Security Services
• Managed Infrastructure Services
• Managed Mobility Services
• Managed Communication And Collaboration Services.
Which Region Leads The Cloud Managed Services Market?
In recent developments, F5, a US-based application services, and security company acquired Lilac Cloud to deliver enhanced cloud-based services and solutions. This acquisition strengthens F5's strategy in the evolving cloud market, indicating the US's significant role in the market.
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What Is Covered In The Cloud Managed Services Market Global Market Report?
• Market Size Analysis: Analyze the Cloud Managed Services Market size by key regions, countries, product types, and applications.
• Market Segmentation Analysis: Identify various subsegments within the Cloud Managed Services Market for effective categorization.
• Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
• Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
• Market Contribution: Evaluate contributions of different segments to the overall Cloud Managed Services Market growth.
• Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
• Industry Challenges: Analyze challenges and risks affecting the Cloud Managed Services Market.
• Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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