Cloud Managed Services Market is expected to grow at a CAGR of 15% by Forecast to 2023


Market Highlights:
The global cloud managed services market is projected to witness a rapid growth during the forecast period. The growing demand for cloud managed services among industries helps in optimizing the IT cost and improvise business efficiency

The global cloud managed services market, by geography, is segmented into North America, Europe, Asia Pacific, and Rest of the World. As compared to other regions, the Cloud Managed Services market in North America region is expected to witness a significant growth and hold the largest market share during the forecast period. Owing to the presence of large number of established key players such as the availability of advanced IT infrastructure is expected to drive the adoption of cloud managed services. And presence of other market players such as Cisco Systems (U.S.), Ericsson (U.S.), Verizon Communications (U.S.) and IBM technologies (U.S.) is further aiding the market growth.

In the global Cloud Managed Services Market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions as enterprises are shifting toward the cloud based services and major technology providers, such as IBM, Microsoft and Google, are making momentous investments for the same.

The global cloud managed services market is projected to reach USD 55 billion at a CAGR of over 15% by the end of the forecast period 2017-2023.

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Major Key Players:
·         IBM technologies (U.S.)
·         Huawei Technologies (China)
·         Alcatel-Lucent (Finland)
·         NTT DATA Corporation (Japan)
·         Cisco Systems (U.S.)
·         Ericsson (U.S.)
·         Verizon Communications (U.S.)
·         Accenture PLC (Ireland)
·         NTT DATA Services (U.S.)
·         Fujitsu Ltd.(Japan)

Cloud Managed Services Market Segmentation:
The global cloud managed services market is segmented by type, deployment, organization size and end-user. The type segment consists of managed infrastructure services, managed network services, and managed security services, managed data center services, managed mobility services, and managed communication services. The deployment type segment consists of public cloud and private cloud. The organization size segment consists of small & medium enterprises and large enterprises. The vertical segment consists of BFSI, IT & telecommunication, government, healthcare, retail, manufacturing, energy & utilities, and others.

Market Research Analysis:
North America is estimated to account for the highest position in the Cloud Managed Services market, whereas Asia Pacific market is projected to be the fastest growing during the forecast period. The North American market is witnessing rapid growth due to technological advancements and increasing demand for data base management across different industry verticals in this region. The U.S. holds a majority of the market share both in terms of revenue as well as adoption of advance solutions.

Regional Analysis:
The global cloud managed services market is studied for Asia Pacific, North America, Europe, and Rest of the World. It has been observed that North America accounts for the largest share in the global Cloud Managed Services market. Owing to technological advancement, well-established infrastructure and seamless internet connectivity.

Further, the presence of major players such as Cisco Systems, Verizon Communications and NTT DATA Services (U.S.) is boosting the market growth European region accounts for second position in cloud managed service market followed by Asia Pacific. Asia Pacific is anticipated to have the highest growth rate in the forecast years due to increasing adoption of cloud based business application and growth in the cloud service providers.

Intended Audience:
  • Technology Investors
  • Research/Consultancy firms
  • Original Instrument Manufacturers
  • Associations, organizations, forums, and alliances
  • Cloud Managed Services manufacturers
  • Contact center infrastructure vendors
  • Managed speech analytics service providers
  • Value added resellers


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