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Cloud Managed Services Market Segmented: By service type (business, network, security, data center and mobility); By deployment (public and private); By end user (small and medium sized enterprises and large enterprises); By vertical (Telecom, Government and Education, financial services, consumer, healthcare and manufacturing) and Region -Analysis of Market Size, Share and Trends for 2014 - 2019 and Forecasts to 2030
Cloud-managed services provide skilled resources that boost the functionalities of the IT sector to be managed in alliance with the third-party managed service providers by cloud platforms. They help in managing storage services, business process services, security management services, and application management services. Cloud management services enable organizations to enhance their operations and replace processes that incur high losses, transform IT systems and help in achieving objectives.
Cloud Managed Services market grew to USD 62.4 billion in 2020 and is expected to grow at a CAGR of 13.3% during the forecast period. The services in this market include network services, business services, security services, and mobility services, which help companies to cut capital costs and transfer them into operational costs. Huge infrastructural capital investments can be avoided through cloud management services which act as a cause for market growth.
Source: Fatpos Global
Cisco increased its portfolio for small businesses via Meraki’s cloud in March 2020. Meraki’s Wi-Fi 6 access points helped small businesses manage networks efficiently and improve their network performance.
In March 2020, IBM and Infosys partnered to provide cloud services to various business verticals.
The Cloud Managed Services Market can be segmented based on service type, deployment insight, end-user, vertical, and regions.
By service type it can be further segmented into business, network, security, data center, and mobility, where the mobility segment is expected to show the highest growth due to the increase in demand for smartphones. Furthermore, the security segment is also expected to show significant growth due to the increased adoption of cloud technologies.
By deployment, it can be further segmented into public and private. Increased data security, access control, cost efficiency, and reliability are some of the features provided by the private cloud model, whereas the public cloud model requires low deployment cost and is easy to configure.
By end-user, we can classify the cloud managed services market into small and medium-sized enterprises and large enterprises. The large enterprises are most likely to dominate the segment during the forecasted period due to their flexibility and large investment ability.
By vertical, it can be segmented into Telecom, Government and Education, financial services, consumer, healthcare, and manufacturing. Healthcare and consumer segment is likely to drive the market growth.
The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA.
The rise in demand among SMSE increases the market size
The rising demand for cloud-managed services among small and medium scaled businesses for managing their application and storing data is the major driver of the market growth. The features such as cost efficiency, real-time access, economical manner, and update in business applications increase the demand of this market. Other benefits of cloud-managed services include IT functionality and customized services of IT. Apart from this, enterprises can get better payoff due to the usage of cloud-managed services, it helps in quickly connecting to the end-users as well as creating business value for organizations.
Private data leakage and inefficiency act as a restraint in the market
The major restraint in the cloud managed services market is the risk of private data leakage as third-party cloud-based management to increases the risk for data misuse and theft. Additionally, the lack of efficiency in service technology and non-supporting IT infrastructure also hampers the growth of the market. The high cost of installation and maintenance also abstains small and medium-sized enterprises to invest in this market.
Infosys Limited
The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA.
APAC region is expected to register the highest growth due to the increased demand for cloud-managed services by small and medium-sized enterprises. It enables organizations to increase their revenue and productivity of employees. While, on the other hand, North America is to hold the largest market share because of the high adoption of cloud-based business applications, managed service for security management, network operations, and cloud application management.
Source: Fatpos Global
The Cloud Managed Services Market is further segmented by region into:
North America Market Size, Share, Trends, Opportunities-o-Y Growth, CAGR – the United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Cloud Managed Services Market segments:-
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