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2022

Global Cloud Managed Services Market

Global Cloud Managed Services Market Size, Share, Competitive Landscape and Trend Analysis Report, by Service Type, by Enterprise Size, by Industry Vertical : Global Opportunity Analysis and Industry Forecast, 2021-2031

IC : Software and Services

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Author's: Keshav Kumar| Pramod Borasi | Onkar Sumant
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Global Cloud Managed Services Market Research, 2031

The global global cloud managed services market size was valued at $83.3 billion in 2021, and is projected to reach $319.4 billion by 2031, growing at a CAGR of 14.5% from 2022 to 2031.

Managed cloud services offer full or partial cloud management services for public and hybrid environments. Managed cloud services are offered to address business cloud needs, such as migration, optimization, security, configuration, and optimization solutions and services. A few of the key advantages of opting for managed cloud services are increased resource efficiency, cloud integration, and flat, predictable spending.

Rise in demand for cloud applications is propelling the growth of the global cloud-managed services market. Furthermore, lower costs of cloud services and hyper-scaling capabilities are also expected to aid in the growth of cloud managed services market. However, concerns regarding data security and privacy can hamper the market growth. Conversely, the growing demand for cloud and cloud services in SMEs is expected to offer remunerative opportunities for the expansion of the cloud managed services market during the forecast period.

Cloud Managed Services Market, Cloud Managed Services Market Size, Cloud Managed Services Market Share, Cloud Managed Services Market Trends, Cloud Managed Services Market Growth, Cloud Managed Services Market Forecast, Cloud Managed Services Market Analysis

The global cloud managed services market is segmented into Service Type, Enterprise Size and Industry Vertical.

Segment review

The cloud managed services industry is segmented on the basis of service type, enterprise size, industry vertical, and region. By service type, the market is segmented into managed business services, managed network services, managed security services, managed infrastructure services, managed mobility services, and managed communication and collaboration services. By enterprise size, the market is segmented into large enterprises and SMEs. Depending on industry vertical, the market is classified into BFSI, healthcare, manufacturing, retail, IT and telecom, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the cloud managed services market analysis are Accenture, ALE International, ALE USA Inc., Atos SE, Amazon Web Services, Inc, Cisco Systems, Inc., Cloudticity, Datacom Group Ltd, Telefonaktiebolaget LM Ericsson, FUJITSU, Hewlett Packard Enterprise Development LP, Huawei Technologies Co., Ltd, IBM Corporation, Infosys Limited, NEC Corporation, NTT DATA Corporation, RACKSPACE TECHNOLOGY, Tata Consultancy Services Limited, and Wipro. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

The report focuses on growth prospects, restraints, and analysis of the global cloud managed services market trends. The study provides Porter’s five forces analysis to understand the impact of various factors, such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the global cloud managed services market share.

Global Cloud Managed Services Market
By Enterprise Size
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The Large Enterprises segment is expected to garner the highest market share owing to their complex cloud management requirements

Depending on enterprise size, the large enterprise segment dominated the cloud managed services market share in 2021, and is expected to continue this trend during the forecast period owing to their large-scale business operations, needing highly efficient monitoring systems. However, the SMEs segment is expected to witness the highest growth in the upcoming years, owing to the growing number of technological investments by small and medium-sized enterprises.

Global Cloud Managed Services Market
By Region
2031
North America 
Europe
Asia-Pacific
LAMEA

North America is anticipated to garner the highest market share owing to a high concentration of cloud service providers in the region

Region-wise, the cloud managed services market was dominated by North America in 2021, and is expected to retain its position during the forecast period, owing to its willingness to embrace cloud services technology in every sector. The IT sector has already adopted this technology. The emerging sector for cloud computing services in the North America region is the healthcare sector. Cloud computing services are being adopted in the healthcare sector, mainly in the data recording and keeping in both clinical as well as non-clinical information. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to its growing digital and economic transformation and the developing communication network infrastructure in the region, which is expected to fuel the growth of cloud managed services solutions in the region in the coming few years.

COVID-19 Impact Analysis

The alarming increase in COVID-19 cases has compelled many businesses and their employees to adjust to remote working and work-from-home standards. Moreover, with the outbreak of COVID-19, businesses have been forced to shift their attention and increase their online presence, needing to rely on digital solutions more than ever before post the outbreak of the pandemic. Cloud managed service providers’ assisted small businesses in catching up with the rising digital transformation trends while helping small businesses in maintaining their business operations as normal amidst the outbreak of the COVID-19 pandemic. Moreover, the growing demand for cloud services and the lower availability of skilled employees during the period drove the demand for cloud-managed services

Top impacting factors

Increase in demand for cloud services

Opting for cloud-managed services can provide significant economic savings, such as cost-cutting and reduction in capital expenditures for the acquisition of hosting infrastructure. With the use of cloud-managed services, the cost incurred in the investment of physical IT resources is reduced, and hence, the capital expenditure is minimized. Proper deployments of cloud services, which are private, public hybrid, or community cloud, can be a reliable resource for cutting overall operating expenses. Moreover, cloud managed services can provide an excellent return on investment, which automatically increases business agility. According to a survey conducted by FCW (The business federal technology), in January 2022, more than 44% of the companies believe that they can get a quick return on investment by using cloud managed services. Such trends are promising great opportunities for the  cloud managed services market growth in the coming years.

Increase in adoption of cloud in SMEs

The last few decades have shown a tremendous rise in entrepreneurs with their small and medium organizations. There is a great demand for cloud managed services due to advantages offered, such as cost-cutting and business flexibility, which prove to be a boon to startup businesses. The need for cloud-managed services is rising due to the growth of these small and medium enterprises. According to a survey conducted by Microsoft Corporation, in February 2020, it was observed that the small-medium enterprises (SMEs) contributed to nearly 76% of India’s total economic output. Moreover, the growing cloud services adoption by SMEs is fueling the growth of the global cloud managed services industry.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the Cloud Managed Services Market Forecast, current trends, estimations, and dynamics of the global cloud managed services market analysis from 2021 to 2031 to identify the prevailing global cloud managed services market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the global cloud managed services market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global global cloud managed services market trends, key players, market segments, application areas, and market growth strategies.

Global Cloud Managed Services Market Report Highlights

Aspects Details
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By Service Type
  • Managed Business Services
  • Managed Network Services
  • Managed Security Services
    • Application
      • Managed LPS and LDS
      • Distributed Denial of Services
      • Unified Threat Management
      • Secured Information and Event Management
      • Firewall Management
      • Endpoint Security
      • Others
  • Managed Infrastructure Services
  • Managed Mobility Services
  • Managed Communication and Collaboration Services
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By Enterprise Size
  • Large Enterprises
  • SMEs
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By Industry Vertical
  • BFSI
  • Healthcare
  • Manufacturing
  • Retail
  • It And Telecom
  • Others
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By Region
  • North America  (U.S., Canada)
  • Europe  (UK, Germany, France, Italy, Spain, Rest of Europe)
  • Asia-Pacific  (China, Japan, South Korea, India, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Mexico, UAE, Saudi Arabia, South Korea, Rest of LAMEA)
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Key Market Players

Datacom Group Ltd, NTT DATA Corporation, IBM Corporation, Fujitsu Ltd., Infosys Limited, ALE International, ALE USA Inc., Hewlett Packard Enterprise Development LP, Huawei Technologies Co., Ltd, Accenture plc, Tata Consultancy Services Limited, NEC Corporation, Cloudticity, Wipro Limited, Telefonaktiebolaget LM Ericsson, Cisco Systems, Inc., Amazon Web Services, Inc., RACKSPACE TECHNOLOGY, Atos SE

Analyst Review

The cloud managed services market is going through enormous transformation and growth. Legacy infrastructures are making it difficult to accommodate growing customer needs as customer demand and expectations are evolving with the rapid pace of digitalization. This has compelled industries to adopt emerging technological changes in their operating environment. Cloud has evolved to be the dominant technology in the race of technological changes. Hence, an increase in the adoption of cloud-based products is expected to boost the growth of the global market at an exponentially high rate in the coming years.

Key providers of the cloud managed services market such as IBM Corporation, Cisco Systems, Inc.Inc., and Microsoft Corporation account for a significant share in the market. With the growing requirement for cloud services, various companies are establishing partnerships to increase their cloud managed services offerings. For instance, in May 2022, Accenture collaborated with Red Hat IncInc. to further empower their open hybrid cloud innovation for enterprises worldwideglobally. This collaboration has helped clients embrace the cloud continuum to enable greater operational efficiency and derived innovation.

In addition, with increase in demand for cloud managed services, various companies are expanding their current product portfolio with increasing diversification. For instance, in July 2022, Rackspace Technology announced the launch of v2, a new Cloud DNS API that provides several enhancements to the Rackspace Technology Cloud DNS v1 API. The Rackspace Technology Cloud DNS v2 API has allowed developers to work faster, more easily, scale at a higher volume and catch errors when DNS records are created.

Moreover, market players are expanding their business operations and customers by increasing their acquisition. For instance, in January 2022, Atos announced the acquisition of Cloudreach. Through this acquisition, Atos welcomes over 600 highly skilled cloud professionals to further strengthen its global cloud expertise. With this partnership, Atos further strengthened its cloud innovation and automation with the leading Cloud planning and assessment software Cloudamize, which brings new capabilities in cloud migration, to its Atos OneCloud practice. Atos OneCloud blends cloud advisory consulting, application transformation expertise, prebuilt cloud accelerators, and innovative talents in an end-to-end set of services to help clients navigate their cloud journey securely and with speed.

Author Name(s) : Keshav Kumar| Pramod Borasi | Onkar Sumant
Frequently Asked Questions?

Rise in demand for cloud applications is propelling the growth of the global cloud-managed services market. Furthermore, lower costs of cloud services and hyper-scaling capabilities are also expected to aid in the growth of cloud managed services market.

Region-wise, the cloud managed services market was dominated by North America in 2021, and is expected to retain its position during the forecast period, owing to its willingness to embrace cloud services technology in every sector. The IT sector has already adopted this technology. The emerging sector for cloud computing services in the North America region is the healthcare sector.

The global cloud managed services market size was valued at $83.26 billion in 2021, and is projected to reach $319.36 billion by 2031, growing at a CAGR of 14.5% from 2022 to 2031.

The key players profiled in the cloud managed services market analysis are Accenture, ALE International, ALE USA Inc., Atos SE, Amazon Web Services, Inc, Cisco Systems, Inc., Cloudticity, Datacom Group Ltd, Telefonaktiebolaget LM Ericsson, FUJITSU, Hewlett Packard Enterprise Development LP, Huawei Technologies Co., Ltd, IBM Corporation, Infosys Limited, NEC Corporation, NTT DATA Corporation, RACKSPACE TECHNOLOGY, Tata Consultancy Services Limited, and Wipro. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

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Global Cloud Managed Services Market

Global Opportunity Analysis and Industry Forecast, 2021-2031