PUBLISHER: Meticulous Research | PRODUCT CODE: 1266294
PUBLISHER: Meticulous Research | PRODUCT CODE: 1266294
Cloud Managed Services Market by Type, Deployment Mode, Organization Size, Sector (IT & Telecommunications, BFSI, Retail & Consumer Goods, and Healthcare & Life Sciences) - Global Forecast to 2030
The research report titled, 'Cloud Managed Services Market by Type, Deployment Mode, Organization Size, Sector (IT & Telecommunications, BFSI, Retail & Consumer Goods, and Healthcare & Life Sciences) - Global Forecast to 2030,' provides an in-depth analysis of cloud managed services market in five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2030.
The global cloud managed services market is projected to reach USD 247.5 billion by 2030, at a CAGR of 14.2% during the forecast period of 2023-2030. The growth of the cloud managed services market is driven by the technological advances supporting the adoption of cloud services, the growing need for cloud services in the BFSI sector, and the increasing importance of managed cloud services in the healthcare sector. Moreover, the increasing focus on customized and managed cloud services and integration of cloud technologies with in-house apps provide significant opportunities in the global cloud managed services market. Enterprises' increasing preference for storage-as-a-service and rising demand for backup and archive-as-a-service are some of the key trends observed in the cloud managed services market.
The study offers a comprehensive analysis of the global cloud managed services market by type, deployment mode, organization size, sector, and geography.
The global cloud managed services market is segmented by type (cybersecurity services [cloud security services, endpoint security services, network security services, application security services, and other cybersecurity services], infrastructure services, business services, network services [network monitoring & management services, and network provisioning services], data center services [data storage, backup & disaster recovery services, data monitoring & migration services], communication and collaboration services [unified communications as a service, and managed VoIP services], mobility services [device management services, and application management services], deployment mode (public cloud, private cloud, hybrid cloud), organization size (small & medium-sized enterprises, large enterprises), sector (IT & telecommunications, BFSI, retail & consumer goods, healthcare & life sciences, manufacturing, government & public sector, energy & utility, oil & gas, automotive, other sectors). The study also evaluates industry competitors and analyzes the market at regional and country levels.
Based on type, the global cloud managed services market is segmented into cybersecurity services, infrastructure services, business services, network services, data center services, communication and collaboration services, and mobility services. In 2023, the network services segment is expected to account for the largest share of the global cloud managed services market. The large market share of this segment is attributed to the rising adoption of managed VPN and SD-WAN services among telecommunication data centers and the growing need to reduce repetitive or mundane tasks, speed up processes, and drive down overheads. However, the mobility services segment is expected to register the highest CAGR during the forecast period.
Based on deployment mode, the global cloud managed services market is segmented into public cloud, private cloud, and hybrid cloud. In 2023, the public cloud segment is expected to account for the largest share of the global cloud managed services market. The large market share of this segment is attributed to the growing demand for cloud managed services due to their cost-effectiveness, and increasing demand for public cloud managed services to avoid the high upfront costs of setting up and maintaining own on-premises infrastructure for businesses. However, the hybrid cloud segment is expected to register the highest CAGR during the forecast period.
Based on geography, the global cloud managed services market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the global cloud managed services market. North America's large market share is attributed to the growing adoption of cloud managed services by large IT companies to reduce capital costs and transfer them into operational expenses, and the increasing need for different businesses to concentrate on their core functions.
The key players operating in the global cloud managed services market are Google LLC (a subsidiary of Alphabet Inc.) (U.S.), Microsoft Corporation (U.S.), International Business Machines Corporation (U.S.), Oracle Corporation (U.S.), Telefonaktiebolaget LM Ericsson (Sweden), Accenture plc (Ireland), NEC Corporation (Japan), Nokia Corporation (Finland), Amazon Web Services, Inc. (a subsidiary of Amazon.com, Inc.) (U.S.), Wipro Limited (India), Tata Consultancy Services Limited (India), Infosys Limited (India), AT&T Inc. (U.S.), CloudNow Technologies Pvt Ltd (India), and ISmile Technologies (U.S.).
Cloud Managed Services Market, by Type
Cloud Managed Services Market, by Deployment Mode
Cloud Managed Services Market, by Organization Size
Cloud Managed Services Market, by Sector
Cloud Managed Services Market, by Geography