Published Date: 30-Apr-22
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According to a new report, published by KBV research, The Global Cloud Managed Services Market size is expected to reach $153.5 billion by 2027, rising at a market growth of 10.3% CAGR during the forecast period.
The Large Enterprises segment acquired maximum revenue share in the Global Cloud Managed Services Market by Enterprise Size 2020, thereby, achieving a market value of $91.5 billion by 2027. The large enterprises segment acquired the largest revenue share in the cloud managed services market in 2020. These enterprises employ more than 1000 workers, which created the requirement of the cloud managed services in the market. In the past years, management services like broadband connections, VPNs, security services and IP communications, data centers, security, and mobility were mainly provided to these organizations due to its popularity.
The IT & Telecom segment has high growth rate of 9% during (2021 - 2027). Companies belonging to the IT and telecom sector are also rapidly embracing cloud managed services to better sustain their services across a range of applications. Migrating to cloud helps these companies minimize their in-house computer needs and reduce their excessive expenditure. Furthermore, IT and telecom companies are typically on the forefront of adopting efficient technologies like Bring Your Own Device (BYOD), Machine Learning, and many more which have massively contributed to the market growth.
The Managed Infrastructure Services segment is leading the Global Cloud Managed Services Market by Service Type 2020; thereby, achieving a market value of $44.1 billion by 2027. These services ensure that a company's IT infrastructure is robust and performing at its best, allowing them to focus on achieving organizational goals. Furthermore, Managed Infrastructure Services maintain and monitor on-premises, cloud, and IT infrastructure. It also provides highly trained, vendor-accredited professionals, processes, and tools to manage the multiplatform, multisite IT infrastructure's day-to-day operations.
The North America market dominated the Global Cloud Managed Services Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $54.7 billion by 2027. The Europe market is estimated to witness a CAGR of 9.8% during (2021 - 2027). Additionally, The Asia Pacific market would experience a CAGR of 10.8% during (2021 - 2027).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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
By Service Type
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