The increasing Information and Communications Technology (ICT) spending, growing trend of big-data and analytics, and the need to focus more on core business activities are driving the cloud managed services market.
The cloud managed services market size is estimated to grow from USD 35.54 billion in 2016 to USD 76.73 billion by 2021, at an estimated CAGR of 16.6% from 2016 to 2021. The cloud managed services market is driven by factors such as increased adoption of managed services by SMEs and the increasing trend of mobile devices and big data analytics in the organizations.
Managed Mobility Services segment is expected to gain the maximum traction during the forecast period
The managed mobility services segment is expected to grow with the highest CAGR during the forecast period. With the increasing usage of smart phones, tablets, and other mobile devices, the prospects of managed mobility services have also increased across diverse industry verticals for enhanced productivity, data security, and privacy.
“Asia-Pacific is witnessing the high growth potential during the forecast period”
North America holds the largest market share in 2016 while APAC is the fastest-growing region in terms of CAGR. With the companies rapidly outsourcing IT related functions to the countries in APAC, the cloud and managed services models have become extremely important as they enable better productivity and cost effectiveness. Therefore, the market is witnessing a high demand. Moreover, North America, being the most advanced region in cloud technology, has higher a rate of adoption of managed services than the other regions due to increased organizational and communication activities.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of profiles of primary participants is given below as:
- By Company Type: Tier 1 – 18%, Tier 2 – 31%, and Tier 3 – 51%
- By Designation: C level – 42%, Director level – 33%, Others – 25%
- By Region: North America – 47%, Europe – 31%, APAC – 14%, ROW- 8%
Enterprise mobility management, Internet of Things, Compliance-as-a-Service are some of the upcoming trends in the cloud managed services market. Moreover, management of public cloud services, security services, and high performance computing services and networking would be some of the upcoming abilities of managed services. The increasing demand for cloud managed services among SMEs has further enhanced the demand for it across many verticals. Also, APAC is gaining high market traction due to increasing economic and cloud adoption.
The various key cloud managed services vendors and service providers profiled in the report are as follows:
- IBM Corporation
- Cisco Systems
- Accenture Plc.
- Ntt Data
- Hewlett Packard Enterprise
- Huawei Technologies.
- NEC Corporation
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the cloud managed services market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across the different verticals and regions.
- The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders to better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, mergers and acquisitions.