Cloud Managed Services Market by Service (Managed Business Services, Managed Network Services, Managed Infrastructure Services, Managed Security Services, Managed Mobility Services, Managed Communication & Collaboration Services, and Others), by Deployment (Public Cloud and Private Cloud), by Enterprise Size (Small and Medium-sized Enterprises (SMEs), and Large Enterprises), and by End User (Healthcare, Government, Retail, Energy & Utilities, IT & Telecom, BFSI, Manufacturing, and Others): Global Opportunity Analysis and Industry Forecast 2024–2030.

Market Definition:

The Cloud Managed Services Market size was valued at USD 95.73 billion in 2023 and is predicted to reach USD 222.86 billion by 2030 with a CAGR of 12.8% from 2024 to 2030. The term cloud managed service refers to services that offer partial or complete management of a client's cloud resources or infrastructure. The emergence of cloud managed services plays a key role in encouraging companies to reduce their internal information technology costs.

Managed cloud services offer several benefits, including cost savings, future-proof technology, custom & integrated services, robust infrastructure, predictable recurring monthly costs, centralized services & applications, and coverage of all services. These services also help to automate business processes, increase efficiency, and focus on core functionality to achieve their organizational objective.

Market Dynamics and Trends

The demand for cloud services has been increasing due to the reduction in operational & administrative costs and enhanced focus on business objectives of IT & telecom companies rather than server updates or maintenance issues. Also, rising incorporation of cloud technologies among the manufacturing industries to predict expenses, implement correct technology, and transmit customer data securely is expected to further propel the growth of the market. 

Moreover, growing implementation of cloud computing services in the healthcare sector is attributed to the incorporation of electronic health records (EHRs) and large amount of data generation. The cloud solution providers allow patients with the highest quality services such as contact management and data reporting as well as communication, which is further expected to drive the growth of cloud managed services market.

However, concerns related to security and confidentiality due to the involvement of third parties outsourcing in cloud managed services are expected to restrain the growth of market during the forecast period. On the contrary, various organizations, such as manufacturing, retail, and energy & utilities have been adopting advanced technologies such as network-as-a-service and IoT-as-a-service to easily operate the network & achieve their outcomes, which are expected to create ample growth opportunities for the market in the coming years. 

Market Segmentations and Scope of the Study

The cloud managed services market share is segmented on the basis of services, deployment, enterprise size, end user, and region. On the basis of services, the market is divided into managed business services, managed network services, managed infrastructure services, managed security services, managed mobility services, managed communication & collaboration services, and others. On the basis of deployment, the market is classified into public cloud and private cloud. On the basis of enterprise size, the market is categorized into small and medium-sized enterprises (SMEs), and large enterprises. On the basis of end user, the market is bifurcated into healthcare, government, retail, energy & utilities, IT & telecom, BFSI, manufacturing, and others. The regional breakdown and analysis of each of the aforesaid segments include regions such as North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America holds the dominant share of cloud managed services market and is expected to continue its dominance during the forecast period. This is attributed to the early adopters of the cloud technology by the US Army, the United Department of Justice (DOJ), and other government agencies in this region.

For instance, in February 2022, Amazon Web Services (AWS) announced the introduction of AWS Managed Services (AMS) in AWS GovCloud in the U.S. The new managed services allow efficient and secure AWS adoption in the U.S. GovCloud region for customers in both the public and commercial sectors.

Also, the major key players such as Amazon Web Services, IBM, and Cisco have been adopting collaboration strategy to boost the market growth in this region. For instance, in October 2021, IBM announced collaboration with Palo Alto Networks on 5G security that integrates security solutions and services designed for 5G networks and ecosystems. 5G and edge upgrade can create digital platform businesses that are better positioned for innovation and value capture. 

On the other hand, Asia-Pacific is expected to show a steady rise in the cloud managed services market due to the growing awareness of technological advancements in educational institutions that impart trainings on advanced technologies such as cloud and machine learning to build digitally skilled workforce in countries such as India, China and Japan.

For instance, in June, 2022, Ministry of Education, All India Council for Technical Education (AICTE) and Amazon Web Services (AWS) intended to work together for conducting cloud computing and machine learning (ML) skills to students of India and strengthen the focus to build a future-ready digitally-skilled workforce in India. 

Moreover, rising government initiatives for adoption of cloud technology to provide easy, scalable access to computing resources and IT services are expected to drive the cloud managed services market growth in this region.

For instance, in March 2022, the Malaysian government announced a new Cloud Framework Agreement (CFA), together with local IT providers and Amazon Web Services (AWS) to help accelerate cloud adoption in the public sector and help agencies. The CFA enables integration of IT systems and technology service provider in Malaysia and provide consulting and technology services to government agencies and contribute to the growth of Malaysia’s digital economy.

Competitive Landscape

The market players operating in the cloud managed services market include International Business Machines Corporation, Amazon Web Services, Inc., Cisco Systems, Inc., Infosys Limited, Fujitsu Limited, Accenture plc, NEC Corporation, Atos SE, Tata Consultancy Services Limited, Wipro Limited, and others. These market players are adopting various collaborations and new launches of products across various regions to maintain their dominance in the IoT in healthcare market. 

For instance, in September 2021, Nippon Electric Company, Ltd. (NEC) announced expansion of its collaboration with AWS in areas including global 5G and digital government. This collaboration accelerated digital transformation for customers and aims to develop end-to-end 5G offering globally. NEC aims to develop and provide a bouquet of offerings that securely connect on-premises and cloud environments at high speed and with low latency. 

Moreover, in June 2021, Accenture announced the launch of myNav Green cloud advisor to help companies realize sustainability goals through the cloud. myNav Green cloud advisor helped companies to design cloud solutions that reduce carbon emissions and lays a foundation for responsible innovation.

KEY BENEFITS

• The report provides quantitative analysis and estimations of the cloud managed services market from 2024 to 2030, which assists in identifying the prevailing market opportunities.

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

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

• Competitive analysis of the players, along with their market share is provided in the report.

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

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

KEY MARKET SEGMENTS

By Service

• Managed Business Services

• Managed Network Services

• Managed Infrastructure Services

• Managed Security Services

• Managed Mobility Services

• Managed Communication & Collaboration Services 

• Others

By Deployment

• Public Cloud 

• Private Cloud

• By Enterprise Size

• Small and Medium-sized Enterprises (SMEs)

• Large Enterprises

By End User

• Healthcare

• Government

• Retail 

• Energy & Utilities

• IT & Telecom

• BFSI

• Manufacturing 

• Others

By Region

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France        

  • Italy        

  • Spain        

  • Denmark        

  • Netherlands        

  • Finland        

  • Sweden        

  • Norway        

  • 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

REPORT SCOPE AND SEGMENTATION:

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