Cloud Managed Services Market to Hit $129.26 Billion by 2027; Rising Emphasis of Businesses to Reduce Operational & Maintenance Costs to Boost Growth: Fortune Business Insights™

Fortune Business Insights
·10-min read

Key Companies Covered in Cloud Managed Services Market are Wipro Limited, Taos Mountain LLC, Rackspace US, Inc., NTT DATA Corporation, NEC Corporation, Logicworks, IBM Corporation, Hewlett Packard Enterprise Development LP, Google LLC, DXC Technology Company, Deloitte Touche Tohmatsu Limited, Cognizant Technology Solutions Corporation, Cisco Systems Inc., Bespin Global, Atos, Alcatel-Lucent S.A., Telefonaktiebolaget LM Ericsson, Smartronix, LLC, Progressive Infotech Pvt. Ltd., Nordcloud Oy, Lumen Technologies, Inc., Infosys Limited, Huawei Technologies Co., Ltd., HCL Technologies Limited, Fujitsu Ltd., DLT Solutions , Datacom Group Ltd, Cloudticity, LLC, Capgemini SE, Augmentt Technology Inc., Amazon Web Services, Inc. Accenture PLC

Pune, Oct. 29, 2020 (GLOBE NEWSWIRE) -- The global cloud managed services market size is projected to reach USD 129.26 billion by 2027, exhibiting a CAGR of 13.8% during the forecast period. Remote working trends triggered by the COVID-19 pandemic will rapidly expand the scope of this market, observes Fortune Business Insights™ in its report, titled “Cloud Managed Services Market Size, Share & COVID-19 Impact Analysis, By Service Type (Managed Business Services, Managed Network Services, Managed Infrastructure Services, Managed Security Services, Managed Mobility Services, and Managed Communication and Collaboration Services), By Deployment (Public Cloud, Private Cloud), By Enterprise Size (SMEs, Large Enterprises), By Vertical (Banking, Financial Services, and Insurance (BFSI), IT and Telecommunications, Government and Public Sector, Healthcare and Life Sciences, Retail and Consumer Goods, Manufacturing, Others), and Regional Forecast, 2020-2027”. With strict social distancing norms imposed by governments around the globe, companies have been forced to set up work from home systems for employees. Cloud services have emerged as the key technology facilitating the transition from physical office environments to virtual working scenarios. The suddenness of events has caused the demand for cloud managed services to skyrocket in the past few months. For example, Microsoft witnessed a 775% increase in the adoption of its cloud services, while Microsoft Teams boasts of more than 44 million users daily. In India, Google has obtained several new clients including the National Payments Corporation of India, Wipro, and the travel company Cleartrip, indicating speedily rising demand for cloud services in the country.




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As per the report findings, the global market value stood at USD 46.50 billion in 2019. The other highlights of the report include:

  • In-depth evaluation of the main market drivers, trends, and restraints;

  • Careful examination of the top market players and their dominant strategies;

  • Comprehensive analysis of each individual market segment; and

  • Exhaustive study of the regional developments impacting the market.



Market Restraint


Dangers Posed by Data Breaches to Impede Market Growth


One of the major concerns surrounding the adoption of cloud-based services and solutions is the constant threat of data breach and hacking posed by cyber-criminals. Cyber-attacks in the past few years have grown in scale and intensity with the increasing penetration of digital technologies in peoples’ lives. For example, in July 2019, Capital One, one of the largest financial companies in the US, experienced a massive cyber-attack on its cloud computing system, resulting in the exposure of 160 million credit card user data. In the same month, the cloud service provider PCM faced a slew of hacking attacks, which led to the abuse of clearinghouses, money transfer services, and payment processing services provided by the company. Another large-scale hacking incident took place in April 2016, when the National Electoral Institute of Mexico’s more than 93 million voter registration records, which were stored on an illegal Amazon cloud server, were compromised. Such instances may deter organizations and governments to fully adopt the cloud and thus hamper the cloud managed services market growth.


Regional Insights


Speedy Adoption of Cloud Services to Accelerate Market Growth in North America


At USD 16.29 billion, North America dominated the cloud managed services market share in 2019 and is expected to sustain its top position during the forecast period. The primary growth driver for the regional market is the rapid uptake of managed cloud services by companies in the region to lower their operational costs and compensate for the lack of highly-skilled IT professionals.


In Europe, digitalization of business processes and heavy investments in strengthening of cloud infrastructures will be the two crucial factors fueling the regional market growth. On the other hand, the market in Asia Pacific is slated to grow dynamically owing to the increasing utilization of cloud services by the small- and medium-size enterprises in the region. In addition to this, rising adoption of cloud solutions by governments in the region is expected foster long-term growth of the regional market.




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Competitive Landscape


Key Players to Concentrate on Expanding & Diversifying Product Portfolios


As the demand for cloud managed services gets more variegated, especially amid the current pandemic, key companies are focusing on developing diverse solutions to cater to the needs of end-users. As a result, several players in the market are doubling down their investments in R&D to bring out novel cloud services for clients.


Industry Developments:

  • August 2020: Augmentt released a suite of solutions for managed cloud service providers (MSPs), becoming the first company to offer simple yet advanced software-as-a-service (SaaS) solutions to aid the transition of MSPs to the cloud. The suite includes Augmentt Discover, Augmentt Optimize, and Augmentt Manage.

  • March 2020: Lightstream and its strategic partner, CloudCheckr, launched the Lightstream Cloud Managed Services to help organizations with the day-to-day maintenance of their cloud infrastructure. The solution provides a comprehensive set of operational management, financial, technical, and security services.




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List of Key Companies Profiled in the Cloud Managed Services Market Report:

  • Wipro Limited (Bengaluru, India)

  • Taos Mountain LLC (California, United States)

  • Rackspace US, Inc. (Texas, United States)

  • NTT DATA Corporation (Tokyo, Japan)

  • NEC Corporation (Tokyo, Japan)

  • Logicworks (New York, United States)

  • IBM Corporation (New York, United States)

  • Hewlett Packard Enterprise Development LP (California, United States)

  • Google LLC (California, United States)

  • DXC Technology Company (Virginia, United States)

  • Deloitte Touche Tohmatsu Limited (London, United Kingdom)

  • Cognizant Technology Solutions Corporation (New Jersey, United States)

  • Cisco Systems Inc. (California, United States)

  • Bespin Global (Seoul, South Korea)

  • Atos (Bezons, France)

  • Alcatel-Lucent S.A. (Boulogne-Billancourt, France)

  • Telefonaktiebolaget LM Ericsson (Stockholm, Sweden)

  • Smartronix, LLC (Maryland, United States)

  • Progressive Infotech Pvt. Ltd. (Noida, India)

  • Nordcloud Oy (Helsinki, Finland)

  • Lumen Technologies, Inc. (CenturyLink) (Louisiana, United States)

  • Infosys Limited (Bengaluru, India)

  • Huawei Technologies Co., Ltd. (Shenzhen, China)

  • HCL Technologies Limited (Noida, India)

  • Fujitsu Ltd. (Tokyo, Japan)

  • DLT Solutions (Virginia, United States)

  • Datacom Group Ltd (Jakarta, Indonesia)

  • Cloudticity, LLC (Washington, United States)

  • Capgemini SE (Paris, France)

  • Augmentt Technology Inc. (Ontario, Canada)

  • Amazon Web Services, Inc. (Washington, United States)

  • Accenture PLC (Dublin, Ireland)




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Detailed Table of Content:

1. Introduction

1.1. Definition, By Segment

1.2. Research Methodology/Approach

1.3. Data Sources

2. Executive Summary

3. Market Dynamics

3.1. Macro and Micro Economic Indicators

3.2. Drivers, Restraints, Opportunities and Trends

3.3. Impact of COVID-19

3.3.1. Short-term Impact

3.3.2. Long-term Impact

4. Competition Landscape

4.1. Business Strategies Adopted by Key Players

4.2. Consolidated SWOT Analysis of Key Players

4.3. Porter’s Five Force Analysis

5. Global Cloud Managed Services Market Key Players Market Share Insights and Analysis, 2019

6. Companies Profiled (Covered for key 10 players only)

6.1. Overview

6.1.1. Key Management

6.1.2. Headquarters etc

6.2. Offerings/Business Segments

6.3. Key Details (Key details are subjected to data availability in public domain and/or on paid databases)

6.3.1. Employee Size

6.3.2. Past and Current Revenue

6.3.3. Geographical Share

6.3.4. Business Segment Share

6.4. Recent Developments

7. Annexure/Appendix

7.1. Global Cloud Managed Services Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027

7.1.1. By Service Type (Value)

7.1.1.1. Managed Business Services

7.1.1.2. Managed Network Services

7.1.1.3. Managed Infrastructure Services

7.1.1.4. Managed Security Services

7.1.1.5. Managed Mobility Services

7.1.1.6. Managed Communication and Collaboration Services

7.1.2. By Deployment (Value)

7.1.2.1. Public Cloud

7.1.2.2. Private Cloud

7.1.3. By Enterprise Size (Value)

7.1.3.1. SMEs

7.1.3.2. Large Enterprises

7.1.4. By Vertical (Value)

7.1.4.1. Banking, Financial Services, and Insurance (BFSI)

7.1.4.2. IT and Telecommunications

7.1.4.3. Government and Public Sector

7.1.4.4. Healthcare and Life Sciences

7.1.4.5. Retail and Consumer Goods

7.1.4.6. Manufacturing

7.1.4.7. Others (Energy and Utilities, and Aerospace and Defense, Etc.)

7.1.5. By Region (Value)

7.1.5.1. North America

7.1.5.2. South America

7.1.5.3. Europe

7.1.5.4. Middle East & Africa

7.1.5.5. Asia Pacific

Continued….!




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