USA, Rockville, MD, April 06, 2022 (GLOBE NEWSWIRE) — Cloud managed services market revenue was estimated at US$86.1 billion in 2021 and is expected to grow at a CAGR of 9.6 % from 2022 to 2032, according to a recently released Fact.MR report. By the end of 2032, the market is expected to reach US$237.0 billion.
The US market held a market share of almost 34% and this trend is expected to continue due to the projected CAGR of 9.4% over the next ten years. Market growth is expected to be fueled by growing demand for cloud managed services, its demand being driven by growing demand for high-speed data transfer and storage with large network infrastructure.
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The continuous increase in digitization and the increase in demand for IT infrastructure propels the demand for high-speed internet, which consequently drives the need for logistics in IT systems for high-speed data transfer, big data storage and the need for data centers with growing consumers on digital platforms.
Key insights from market research
- The global cloud managed services market is expected to reach a market size of US$237 billion by 2032.
- In 2022, the United States will contribute over 34% of market revenue.
- In the demand for cloud managed services, large enterprises are expected to account for growth at a CAGR of 9.4% during the forecast period.
- Managed network services have the highest growth potential in the service type segment. Its market is expected to grow at a rate of approximately 9.1% over the period 2022-2032.
- In the United States, the key market is expected to hold the predominant market share and grow at a CAGR of 9.4% between 2022 and 2032.
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A number of regional and global players operate in this market. The major companies in the cloud managed services market are IBM, Ericsson, AWS, Cisco, Infosys, NTT Data, Fujitsu, Accenture, HPE, NEC, Google, Microsoft, Intel, and DigitalOcean. Various strategies are used by companies to stay competitive.
There are three types of cloud managed services namely public cloud, private cloud and hybrid cloud. Nowadays, people can view and edit documents using mobile phones, using Microsoft’s Office web apps and Google Docs. This type of cloud computing service model called “software as a service” (SaaS).
- In September 2021, Nimbella, which provides a serverless platform, is acquired by DigitalOcean to provide cloud services to help businesses scale their operations.
- In April 2021, Nuance Communications, a conversational and cloud-based healthcare AI provider, was acquired by Microsoft for US$19.7 billion.
- In April 2020, IBM Corporation announced the creation of a new company “NewCo” by separating its managed infrastructure services unit from its Global Technology Services division into a new public company.
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Market Segments Covered in Managed Network Services Demand Analysis
- By Type of Service:
- Managed Business Services
- Managed Network Services
- Managed Security Services
- Managed Infrastructure Services
- Managed mobility services
- Managed Communication and Collaboration Services
- By vertical:
- Government and public sector
- Health and life sciences
- Retail and consumer goods
- Energy and Utilities
- Others (transportation, education, travel and hospitality)
- By organization size:
- Large companies
- Small and medium enterprises
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Fact.MR in its new offering presents an unbiased analysis of the Cloud Managed Services Market, showcasing historical market data (2015-2021) and forecast statistics for the period 2022-2032.
The study reveals key insights based on Service Type (Managed Business Services, Managed Network Services, Managed Security Services, Managed Infrastructure Services, Managed Mobility Services, Managed Communication and Collaboration Services), by Vertical (BFSI, Telecom, Government and public sector, health and life sciences, retail and consumer goods, manufacturing, energy and utilities, IT, other), by organization size (large enterprises, small and medium enterprises) and in five regions ( North America, Latin America, Europe, Asia Pacific and Middle East and Africa).
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