USD 52.62 billion Growth in Cloud Managed Services Market Size with 36% of the Contribution from North America - Rising Adoption Of Cloud Computing Services to Boost Market Growth - 17,000+ Technavio Reports

NEW YORK, Sept. 7, 2022 /PRNewswire/ -- The "Cloud Managed Services Market Forecast and Analysis 2022-2026" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the cloud-managed services market between 2021 and 2026 is USD 52.62  billion, as per the latest market analysis report by Technavio. The report analysts predict the market to witness an accelerating growth momentum at a CAGR of 10.37%. Technavio categorizes the global cloud-managed services market as a part of the global data processing and outsourced services market within the global IT services market. Our report provides extensive information on the value chain analysis for the cloud-managed services market, which vendors can leverage to gain a competitive advantage during the forecast period. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

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Key Market Dynamics:

• Market Driver: One of the key factors driving growth in the cloud-managed services market is the rising adoption of cloud computing services. The introduction of cloud computing has enhanced and simplified IT management and maintenance capabilities.  Cloud computing eliminates the need for users to update and maintain IT infrastructure. The cloud has evolved as an ideal model platform and integration fabric for many enterprise applications with configuration flexibility, choice of access mechanisms, and integrated security. Such factors are expected to increase the adoption of cloud computing services, which will propel the growth of the global cloud-managed services market.
• Market Challenge: The data privacy and security risk in cloud-based services will be a major challenge for the cloud-managed services market during the forecast period. Data privacy and security risk are major barriers to the adoption of cloud-based managed services in organizations, especially in the public cloud. Cyber-attackers can easily gain access to cloud-based data storage systems, as cloud-based infrastructure is based on open architecture and shared resources. The ease in procuring and accessing cloud services can also give users the ability to scan, identify, and exploit loopholes and vulnerabilities in a system. These factors, in turn, are expected to hamper the growth of the market.

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Market Segment Highlights

The cloud managed services market report is segmented by End-user (large enterprise and small and medium enterprise) and Geography (North America, Europe, APAC, South America, and Middle East and Africa).  

• Regional Opportunities: 36% of the market's growth will originate from North America during the forecast period. The US is the key market for cloud-managed services in North America. Market growth in this region will be faster than the growth of the market in the European, MEA, and South American regions. The increasing cloud technology adoption among end-users such as SMEs and large enterprises for automating their business process, including data processing and outsourcing and Internet services will facilitate the cloud-managed services market growth in North America over the forecast period.
• Revenue-generating Segment Highlights: The cloud-managed services market share growth by the large enterprise segment will be significant during the forecast period. The adoption of cloud-managed services by large enterprises is expected to decline during the forecast period. Despite the growing digital transformation, the rising adoption of bring your own device (BYOD), and increasing cyber threats, large enterprises are a little skeptical of outsourcing cloud-managed services. This is because enterprises that outsource security service tasks to third parties will have less control over their own security. 

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Some Companies Mentioned       

• Accenture Plc: The company offers cloud managed services that include Cloud migration, Infrastructure Services, Data transformation, and cloud security.
• Amazon.com Inc.: The company offers cloud managed services that include computing, storage, databases, networking, data lakes and analytics, machine learning and artificial intelligence, IoT, security, and much more.
• Atos SE: The company offers cloud managed services that include Cloud Consulting, Cloud Platform Integration, Cloud Security, and Application and Data Modernization.
• Cisco Systems Inc.: The company offers cloud managed services that include Cloud operations platform, Workload optimization, Intersight services, and Application performance monitoring.
• Fujitsu Ltd.: The company offers cloud managed services that provide personalized cloud solutions that combine the right cutting-edge technologies to enable Connection, Intelligence, and Transformed future.
• ALE International
• Alphabet Inc.
• Capgemini Service SAS
• Cloudticity LLC
• Cognizant Technology Solutions Corp.
• DXC Technology Co.
• HCL Technologies Ltd.
• Hewlett Packard Enterprise Co.
• Huawei Technologies Co. Ltd.
• Infosys Ltd.
• International Business Machines Corp.
• Lumen Technologies Inc.
• NEC Corp.
• NTT DATA Corp.
• Telefonaktiebolaget LM Ericsson
• Verizon Communications Inc.
• Access vendor-specific insights and strategic initiatives as you Download PDF Sample Report

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Key Topics Covered:

• Executive Summary
• Market Landscape
• Market Sizing
• Five Forces Analysis
• Market Segmentation by End-user
• Customer landscape
• Geographic Landscape
• Vendor Landscape
• Vendor Analysis
• Appendix

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SOURCE Technavio