Global Cloud-Managed Services Market Size was valued at USD 60.4 billion in 2022. The cloud-managed services market industry is projected to grow from USD 68.49 Billion in 2023 to USD 145.66 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 13.40% during the forecast period (2023 - 2030). Incorporating cloud-based industries and reducing operation costs and IT expenditures are the key cloud-managed services market drivers enhancing market growth.
Figure 1: Cloud-Managed Services Market Size, 2024-2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for cloud-managed services is being driven by significant economic savings, such as cost reductions and reductions in infrastructure acquisition costs. Managed cloud services can result in significant economic savings, including cost savings and reduced capital expenditures for acquiring hosting infrastructure. As a result of cloud-managed services, organizations reduce capital expenditures by minimizing the cost of investing in physical IT resources. Businesses can cut operating costs by properly deploying cloud services, whether private, public, hybrid, or community clouds.
Cloud-managed services can also provide a high return on investment, automatically increasing their businesses' agility. In January 2022, according to FCW (The Business Federal Technology), more than 44% of companies believed that cloud-managed services could help them get a quick return on investment. As a result of such trends, the cloud-managed services market is expected to grow rapidly in the coming years.
Additionally, Over the last few decades, small and medium businesses have seen an enormous increase in entrepreneurs. Because of the advantages cloud-managed services offer, like cost-cutting and business flexibility, that prove to be a boon to startups, there is great demand for them. Cloud-managed services are increasing in importance because of the growth of these small and medium businesses. According to a survey by Microsoft Corporation in February 2020, more than 76% of India’s total economic output comes from small and medium enterprises (SMEs). Furthermore, the growth of the global cloud-managed services market has been driven by SMEs' increasing use of cloud services.
For businesses to satisfy their IT and network needs, managed cloud services will overshadow all other technologies as they develop plans and apply fresh strategies. Many businesses now run their IT applications on cloud servers, including those for accounting, finance, customer relationship management, etc. The global level of cloud adoption is evolving due to the widespread adoption of cloud solutions for managing businesses. Cloud-managed services are projected to grow as businesses adopt cloud solutions more widely. In addition, businesses are expected to become more aware of the benefits of cloud-managed services over the research period, which is expected to accelerate market growth.
For instance, A managed cloud service will be at the forefront of all technologies enterprises use to fulfill their IT and network needs. Many organizations run their IT applications on cloud servers, including accounting, finance, and human resources. Thus, driving the cloud-managed services market revenue.
The global cloud-managed services market segmentation, based on type, includes managed infrastructure services and managed network services. The managed network services segment dominated the market, accounting for 35% of market revenue. As businesses adopt cloud-managed services to manage network-related services and administer their networks, the growth of this segment is mainly attributed to the adoption of cloud-managed services. In addition to providing companies with a comprehensive platform for creating and managing remote data networks, cloud-based network-managed services also offer WAN/LAN/WLAN solutions. Since they offer a wide range of services, the adoption of these services has increased exponentially in recent years. They include implementing high-quality network solutions, managing and monitoring IT networks, maintaining equipment, and maintaining ICT systems.
The global cloud-managed services market segmentation, based on deployment, includes cloud and on-premise. The cloud category generated the most income (58.4%). There are many advantages to using a private cloud for businesses, including enhanced control and data security. This model also offers businesses cost savings and stability. A private cloud allows organizations to customize their IT resources to meet their needs. Most businesses with business-critical operations use these systems, including governments, banks, and other mid to large-sized organizations.
The global cloud-managed services market data, based on organization size, includes small and medium enterprises. The medium enterprises category generated the most income (68.4%). Utilizing cloud-managed services allows businesses to reduce costs and anticipate a steady monthly fee based on their needs, all while assisting service providers with managing all servers and apps via a single location within the data center.
The global cloud-managed services industry, based on end-user, includes BFSI, telecommunication and IT. The telecommunication and IT category generated the most income (75.9%). It is becoming more common for telecom and IT companies to use cloud-managed services better to manage services across a wide range of applications. Using the cloud will reduce the internal computing needed and decrease surplus expenses. Moreover, IT and telecom companies are early adopters of efficient technologies like BYOD (Bring Your Device).
Figure 1: Cloud Managed Services Market, by End-User, 2022 & 2030 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By Region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American cloud-managed services market area will dominate the cloud-managed services market. The region is experiencing a cloud-managed services market expansion due to a greater adoption rate of cloud computing technologies and an explosion in the number of data centers deployed. Furthermore, many cloud management system providers are present in this region, and they have matured in the cloud-managed services market.
Further, the major countries studied in the cloud-managed services market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: CLOUD MANAGED SERVICES MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Asia-Pacific's cloud-managed services market accounts for the second-largest market share due to the improvement in the IT industry, and the government is focusing more on advancing cloud computing technologies. Further, China’s cloud-managed services market held the largest market share, and the Indian cloud-managed services market was the fastest-growing market in the Asia-Pacific region
The Europe cloud-managed services market is expected to grow at the fastest CAGR from 2023 to 2030. There is an increasing demand for new technologies and better infrastructure in Europe, driving the market growth. Major players include Verizon Communications, NTT DATA Services, and many others. Moreover, the German cloud-managed services market held the largest market share, and the UK cloud-managed services market was the fastest-growing market in the European region.
For instance, It was announced in 2020 that NTT Data Services would partner with Amazon Web Services. A key goal of this partnership is to optimize and manage data more effectively.
Leading market players are investing heavily in research and development to expand their product lines, which will help the cloud-managed services market grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The cloud-managed services industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global cloud-managed services industry to benefit clients and increase the market sector. In recent years, the cloud-managed services industry has offered some of the most significant advantages to the IT and telecommunication industries. Major players in the cloud-managed services market, including IBM technologies (U.S.), Huawei Technologies (China), Alcatel-Lucent (Finland), NTT DATA Corporation (Japan), Cisco Systems (U.S.), Ericsson (U.S.), Verizon Communications (U.S.), Accenture PLC (Ireland), NTT DATA Services (U.S.), and Fujitsu Ltd.(Japan)
Cisco Systems, Inc. provides networking and information technology services. The company offers various services, including enterprise network security, software development, data collaboration, cloud computing and cloud computing services. In June 2022, A new Cisco ThousandEyes product for proactively forecasting and optimizing WAN performance was launched in June 2022 by Cisco. The product provides a unified cloud management experience across Cisco Meraki, Cisco Catalyst, and Cisco Nexus portfolios. As part of Cisco's cloud-managed platform strategy, these innovations showcase Cisco's commitment to enabling customer businesses to thrive despite unpredictability through agility, resiliency, and productivity.
It operates as a holding company under the name Truven Holding Corporation. The Company offers strategic consulting, analytical consulting, clinical strategy, research, health plan advisory services, and other healthcare services through its subsidiaries. It provides its services worldwide. In October 2021, IBM and Deloitte developed DAPPER, an AI-enabled managed analytics solution to accelerate hybrid cloud and AI adoption. An end-to-end managed service offering ensures insights on data are delivered via a secure, simple-to-use platform.
December 2022- In order to grow its company in India to $1 billion, Noventiq, a global provider of digital transformation & cybersecurity solutions, recently announced it has acquired G7 CR Technologies India Pvt Ltd, leading cloud managed services provider and a leading Microsoft partner, for an undisclosed fee.
This acquisition further solidifies Noventiq's position as the industry leader in India, one amid the world's fastest-growing IT markets, for Microsoft products.
G7 CR, which has its headquarters in Bengaluru and presently serves over 600 clients from small and medium-sized enterprises (SMEs), large corporations, the government, and startup companies throughout India, will send 200 experts to Noventiq.
This deal marks their fourth acquisition in this nation, demonstrating how crucial it is to their plan to keep investing in India for India. Mid-term, they want to establish a $1 billion business in India, CEO of Noventiq, Sergei Chernovolenko, remarked.
In the previous two years, Noventiq has purchased Value Point Systems (in October), Umbrella Infocare (in February), and Embee (in January 2021) in India.
For data and Artificial intelligence, infrastructure, digital & app innovation, contemporary work, and security, G7 CR is a Microsoft Solution Partner.
According to Christopher Richard, Managing Director and Founder of G7 CR Technologies India, Noventiq's worldwide scale and G7CR's technical skills combined will enable them to give a better solution offering, & deeper tech engagements, both to their present and potential customers.
The new name for Softline Holding is Noventiq, which has its headquarters in London. The business links more than 75,000 organizations across all sectors with a large number of IT vendors.
During the fiscal year 2021, the company generated revenues of about $1.1 billion. 3,900 people work for it in around 60 nations in Asia, South America, Europe, the Middle East, and Africa.
The price at which Noventiq acquired the G7 CR Technologies India Pvt Ltd. was not made public.
North America
Europe
Asia-Pacific
Rest of the World
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 60.4 billion |
| Market Size 2023 | USD 68.49 billion |
| Market Size 2030 | USD 145.66 billion |
| Compound Annual Growth Rate (CAGR) | 13.40% (2023-2030) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2030 |
| Historical Data | 2019- 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | IBM technologies (U.S.), Huawei Technologies (China), Alcatel-Lucent (Finland), NTT DATA Corporation (Japan), Cisco Systems (U.S.), Ericsson (U.S.), Verizon Communications (U.S.), Accenture PLC (Ireland), NTT DATA Services (U.S.), and Fujitsu Ltd.(Japan) |
| Key Market Opportunities | · Rising adoption of cloud-managed services by SMEs |
| Key Market Dynamics | · Increased use of cloud-managed services in various industries. |
Cloud Managed Services Market Highlights:
Frequently Asked Questions (FAQ) :
The global cloud-managed services market size was valued at USD 60.4 Billion in 2022.
The global market is projected to grow at a CAGR of 13.40% during the forecast period, 2023-2030.
North America had the largest share of the global market
The key players in the market are IBM technologies (U.S.), Huawei Technologies (China), Alcatel-Lucent (Finland), NTT DATA Corporation (Japan), Cisco Systems (U.S.), Ericsson (U.S.), Verizon Communications (U.S.), Accenture PLC (Ireland), NTT DATA Services (U.S.), and Fujitsu Ltd.(Japan)
The managed network services Cloud-Managed services category dominated the market in 2022.
The cloud had the largest share of the global market.
The medium enterprises cloud-managed services category dominated the market in 2022.
The telecommunication and IT cloud-managed services category dominated the market in 2022.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Senior Research Analyst Ankit gupta is an analyst in market research industry in ict and semi industry. with post-graduation in "telecom and marketing management" and graduation in "electronics and telecommunication" vertical he is well versed with recent development in ict industry as a whole. having worked on more than 150+ reports including consultation for fortune 500 companies such as microsoft and rio tinto in identifying solutions with respect to business problems his opinions are inclined towards mixture of technical and managerial aspects.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
