The Asia Pacific Cloud Managed Services Market would witness market growth of 10.8% CAGR during the forecast period (2021-2027).
A company can control and decrease its network maintenance costs by outsourcing its cloud managed services. For small to medium-sized firms with simple networks, hiring a full-time IT workforce is too costly and often unneeded. Outsourcing their IT department to a cloud-first managed services provider. With cloud managed services, businesses can choose how much they want to spend for IT services and get a predictable monthly cost. For example, a tax service will require more assistance during the first quarter of the year and less during the second through fourth quarters due to a rise in consumer demand during tax season. In the evenings, when students come online after work, a private learning institution for working people will require the most assistance. Companies can minimize their IT support costs by choosing a fixed monthly service plan that best fits their needs.
Disaster recovery alternatives are available with managed cloud services to assist firms in saving their data in the event of a disaster. This is critical for businesses that rely on data, as a data loss or breach might spell the end of their operations. This is critical for businesses who use Amazon's web services. An AWS managed service provider can assist a firm by backing up their operating systems, file systems, and existing configurations to a secure location. This ensures that the firm has a backup of their data at all times.
The rise in the advancements of IT sector and many initiatives undertaken by the government authorities for the betterment of cloud computing technology would support the demand for cloud managed services in the regional market. Adoption of data centers is booming because of the rapid growth of BPOs in this region. Also, China and India are the major manufacturers in the region that are substantially investing in providing improved cloud managed services offerings to their customers.
Asia Pacific is predicted to be the most revolutionary region during the forecasted period because of the adoption of cloud management services by small and medium sized businesses. Expanding investments by major players existing in the region such as IBM and Google are strengthening the growth of cloud managed services. The hand of regional governments in making considerable investments to improve cloud infrastructure is not be underestimated.
The China market dominated the Asia Pacific Cloud Managed Services Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $12,617.4 million by 2027. The Japan market anticipated to grow at a CAGR of 10.1% during (2021 - 2027). Additionally, The India market would display a CAGR of 11.5% during (2021 - 2027).
Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises (SMEs). Based on Vertical, the market is segmented into BFSI, IT & Telecom, Manufacturing, Government, Retail, Healthcare, Energy & Utilities, and Others. Based on Service Type, the market is segmented into Managed Infrastructure Services, Managed Network Services, Managed Security Services, Managed Communication & Collaboration Services, Managed Business Services, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Cloud Managed Services Market is Projected to reach USD 153.5 Billion by 2027, at a CAGR of 10.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Hewlett-Packard Enterprise Company, Ericsson AB, Cisco Systems, Inc., Atos Group, Accenture PLC, Fujitsu Limited, Infosys Limited, NTT Data Corporation, and Amazon Web Services, Inc.
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