PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1627924
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1627924
The cloud managed services market is expected to grow at a CAGR of 9.79%, reaching a market size of US$254.578 billion in 2030 from US$159.788 billion in 2025.
Cloud-managed services comprise an ecosystem of services such as 24/7 help desk support, operation management, engineering on demand, and hosting managed by third-party organizations. These services also include managed network operations, security operations, applications, and mobility.
Cloud-managed services establish a structural framework that plays an important role in preventing unauthorized data access, thereby reducing the risk of data theft against any organization. With the growing global cases of data breaches and cyber-attacks, the demand for cloud managed services is estimated to move forward.
For instance, IT Governance UK, in its report, stated that in April 2024, the globe witnessed about 5.336 billion records breached. The total number of records breached grew significantly from March 2024, when 299.368 million records were breached. The report further stated that the IT services and software industry witnessed the majority of cases, with about 5,244.119 million records breached, followed by 18.301 million in the manufacturing industry and about 15.280 million in the insurance industry.
Cloud managed services Market Drivers
Increased demand for performance and reliability will boost service demand, allowing businesses to move data between their operations by providing custom-made solutions to the services available. Companies are more focused on lowering IT expenses, fueling future demand. For instance, pay-as-you-go enables companies to use services until they want, and no payment is made in advance. Such a method saves a lot of capital for companies, as payment is only made for the resources used.
Cloud managed Services Market Geographical Outlook
During the projection period, the APAC region is expected to see substantial expansion fuelled by the increased investment in cloud computing and favourable initiatives to digitize the economy, such as "Industry 4.0". Moreover, due to the increased acceptance of cloud-managed services by small and medium-sized organizations, it is likely to drive market expansion. Asia Pacific is anticipated to witness the fastest region over the forecast period.
Additionally, the growing strength of SMEs, which account for a major portion of the employed workforce in major APAC economies, namely India and China, has bolstered the requirement for appropriate IT infrastructure to provide 24/7 desktop support. This has provided a wider scope for cloud-managed services in the region.
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