Press release
Cloud Managed Service Market: Recent Industry Developments and Growth Strategies Adopted by Players
Over the coming years, the degree of the competition in the global cloud managed service market is anticipated to increase remarkably and to survive in this market, the leading participants will involve into strategic partnerships and acquisitions of regional and small-scale companies, in a bid to uplift their revenue generation capacity, states the research report.
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According to TMR, the global market for cloud managed service is expected to present an opportunity worth US$54.69 bn by 2017. Analysts anticipate it to proliferate at a CAGR of 9.60% over the period from 2017 and 2022, touching a value of US$86.47 bn by the end of the forecast period. Presently, managed network services are reporting a higher demand than other cloud managed services across the world and this trend is projected to continue in the near future, notes the market study.
“The increasing trend of cloud automation among large, as well as small- and mid-sized enterprises, is having the most prominent impact on the growth of the global market for cloud managed service market,” says the author of the study. The significant surge in the adoption of cloud managed services, especially among SMEs, in comparison with the conventional services, considering the added advantages of the former, is boosting this market substantially.
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The continual increase in ICT spending, advent of big data analytics, and the augmenting need of enterprises to curb their operational costs and concentrate on their core business are also influencing this market positively. However, the steady growth in the technology saturation in a number of industrial sector is expected to hamper this market over the next few years. Nonetheless, the global market is predicted to witness a high demand for cloud mobility services, which will propel this market, considerably in the near future, states the market report.
The report presents a thorough assessment of the global market for cloud managed services on the basis of a number of important market parameters, including the regional presence. As per the study, the worldwide cloud managed service market registers its presence across the Middle East and Africa (MEA), Europe, Latin America, Asia Pacific excluding Japan (APEJ), Japan, and North America.
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With a substantially large presence of the key managed service providers in Canada and the U.S., North America has been leading the global market. Expanding at a CAGR of 8.10%, this regional market is predicted to secure its position over the forecast period, reports the research study.
The review is based on a report by Transparency Market Research (TMR), titled “Cloud Managed Service Market (Service - Managed Network Service, Managed Security Service, Managed Mobility, and IT Infrastructure Management Service; End User - Large Enterprises and Small and Medium Enterprises (SMEs); Industry - BFSI, IT and Telecom, Healthcare, and Government) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022.”
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.
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