Cloud Managed Services Market Size is Projected to Reach USD 115.6 Billion by 2026 - Valuates Reports

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BANGALORE, India, Aug. 5, 2020 /PRNewswire/ -- Increasing business needs to cut operating and infrastructural costs involved in business processes is anticipated to drive cloud-managed services. Third-party outsourcing of cloud infrastructure helps companies to concentrate on their core competencies, thus increasing overall efficiency.

In 2019, the global Cloud Managed Services market size was USD 53.6 Billion, and it is expected to reach USD 115.6 Billion by the end of 2026, with a CAGR of 11.6% during 2021-2026.

This research focuses on the status of globally operated cloud services, future projections, growth prospects, key industry, and key players. The study aims to address the creation of Cloud Managed Services in North America, Europe, China, Japan, Southeast Asia, India, and Central & South America.

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TRENDS INFLUENCING THE CLOUD MANAGED SERVICES MARKET SIZE

Increasing emphasis on mobility coupled with a need to concentrate on core business functions, would drive the growth of Cloud Managed Services Market size.

Growing demand for scalability and reliability will also improve demand for the services, as it will enable businesses to scale up and down their operations by providing custom-made solutions to the services available.

Cloud-managed services are powered by companies around the world that are rapidly embracing cloud infrastructure. Higher flexibility and the adoption of the 'pay as you go' model has helped small and medium-sized companies to emerge as cloud services' most promising consumers. With the adoption of cloud services continuously growing, it is, in turn, expected to increase the Cloud Managed Services Market size during the forecast period.

Data privacy and cloud-based data protection will curb market growth. Furthermore, cost-sensitive businesses might refrain from investing in these services because of the initial high installation and maintenance costs.

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CLOUD MANAGED SERVICES MARKET SHARE ANALYSIS

North America is expected to hold the largest Cloud Managed Services market share. This dominance of North America can be attributed to the presence of major players in the region. 

Due to increased demand for Cloud Managed Services, Asia Pacific (APAC) is projected to rise at the highest CAGR during the forecast period. By reducing costs and increasing employee efficiency, Cloud Managed Services helps companies to raise revenue. APAC region is expected to experience substantial growth opportunities. Meanwhile, North America is expected to retain the largest portion of the market during the forecast era.

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TOP COMPANIES IN THE CLOUD MANAGED SERVICES MARKET

The Cloud Managed Services Market is highly competitive, with major vendors dominating the market.

Some of the Top companies that are analyzed in this report are IBM, Cisco Systems. Inc, Ericsson, Verizon Communication Inc., Accenture PLC, NTT Data Corporation, Huawei Technologies, Fujitsu Limited, China Huaxin( Alcatel Lucent Enterprise), CenturyLink, etc.

CLOUD MANAGED SERVICES MARKET BY TYPE, THE PRODUCT CAN BE SPLIT INTO

• Business
• Network
• Security
• Data Center
• Mobility.

CLOUD MANAGED SERVICES MARKET BY APPLICATION, SPLIT INTO

• Public
• Private.

CLOUD MANAGED SERVICES MARKET BY REGIONS/COUNTRIES, THIS REPORT COVERS

• North America
• Europe
• China
• Japan
• Southeast Asia
• India
• Central & South America.

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The Global Managed Services Software market size is expected to grow from USD 180.5 Billion in 2018 to USD 282.0 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 9.3% during the forecast period.

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Increased network technology complexity, along with a shortage of resources and qualified IT experts, prove to be significant hindrances in data protection management. Outsourcing the security function to managed security service providers has emerged as a lucrative choice for the organizations in such a scenario. Managed security services can be provided by implementing the requisite on-site security infrastructure inside the enterprise, or they can be completely managed from a remote location by the service provider. 

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The Managed Security Services market in APAC is expected to witness exponential growth during the forecast period.

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The global managed services market size is expected to grow from USD 178.5 Billion in 2019 to USD 309.4 Billion by 2025, at a CAGR of 9.6% during the forecast period.

Developments in cloud-based technology and technological proliferation are expected to drive the growth of Managed Services Market size during the forecast period. Increasing demand from cloud and managed service providers (MSPs) for outsourcing management functions are expected to further push the adoption.

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• Cloud Computing Market Report

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• Software as a Service (SaaS) Market Report

The global Software as a Service (SaaS) market size is projected to reach USD 307.3 Billion by 2026, from USD 158.2 Billion in 2020, at a CAGR of 11.7% during 2020-2026

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