The Europe Cloud Managed Services Market would witness market growth of 9.8% CAGR during the forecast period (2021-2027).
The market for cloud managed services is expected to grow extensively during the forecast period because of adoption by large IT companies for the purpose of reducing capital costs and transferring them into operational expenses. Big data analytics and the increasing need of different businesses to concentrate on their core function may bring humongous growth opportunities for the cloud managed service market. The need of the hour is scalability and reliability and this will ensure that the cloud managed service market has enormous growth potential.
Firms get on-demand access to skilled and qualified resources with deep domain knowledge in their area of expertise when they choose a Cloud Managed Services Provider. These resources not only assist the firms in developing a customized blueprint to help them achieve broader business objectives, but also provide them with timely strategic advice and help them execute a tried and true set of processes so that firms can fully leverage their IT environment.
Managed cloud services are flexible and adaptable. They can transfer data quickly and process massive amounts of data in real time. This is critical in terms of saving time and money for the company. With these services at one’s disposal, one can focus on other areas where one needs to improve their strategies and plans.
Across different nations in Europe, expenditure on information technology and cloud computing are aimed at achieving digitalization. The goal of digitalization of industries is achievable through the use of hybrid cloud. Cloud infrastructure is used to create and implement new and exciting projects and approaches. All the important players in this region are investing huge amounts of resources in research and development activities to supply businesses with multichannel cloud strategies and meet the demands of progressively changing digital landscape. For example, in October 2019, NTT Limited, a major technology service provider, released a new cloud platform in Paris. As a result of this technical leap, SMEs in France and other regions will get a head start while adopting a hybrid and multichannel cloud strategy. Additionally, government initiatives like the G-Cloud framework are helping governments and firms in the region utilize these services effectively.
The Germany market dominated the Europe Cloud Managed Services Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $9,893.7 million by 2027. The UK market is poised to grow at a CAGR of 8.9% during (2021 - 2027). Additionally, The France market would showcase a CAGR of 10.6% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Cloud Managed Services Market Size will Hit $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.
By Enterprise Size
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Companies Profiled
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