Press Release

Cloud Managed Services Market Share In-Depth Analysis of Industry Growth Trends & Forecast till 2028 | Fortune Business Insights

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, 2021-2027”. 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.

 

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 2021: 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 2021: 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
    • Definition, By Segment
    • Research Methodology/Approach
    • Data Sources
  2. Executive Summary
  3. Market Dynamics
    • Macro and Micro Economic Indicators
    • Drivers, Restraints, Opportunities and Trends
    • Impact of COVID-19
      • Short-term Impact
      • Long-term Impact
  1. Competition Landscape
    • Business Strategies Adopted by Key Players
    • Consolidated SWOT Analysis of Key Players
    • Porter’s Five Force Analysis
  2. Global Cloud Managed Services Market Key Players Market Share Insights and Analysis, 2019
  3. Companies Profiled (Covered for key 10 players only)
    • Overview
      • Key Management
      • Headquarters etc
    • Offerings/Business Segments
    • Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
      • Employee Size
      • Past and Current Revenue
      • Geographical Share
      • Business Segment Share
    • Recent Developments
  4. Annexure/Appendix
    • Global Cloud Managed Services Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027
      • By Service Type (Value)
        • Managed Business Services
        • Managed Network Services
        • Managed Infrastructure Services
        • Managed Security Services
        • Managed Mobility Services
        • Managed Communication and Collaboration Services
      • By Deployment (Value)
        • Public Cloud
        • Private Cloud 
      • By Enterprise Size (Value)
        • SMEs
        • Large Enterprises
      • By Vertical (Value)
        • Banking, Financial Services, and Insurance (BFSI)
        • IT and Telecommunications
        • Government and Public Sector
        • Healthcare and Life Sciences
        • Retail and Consumer Goods
        • Manufacturing
        • Others (Energy and Utilities, and Aerospace and Defense, Etc.)
      • By Region (Value)
        • North America
        • South America
        • Europe
        • Middle East & Africa
        • Asia Pacific

Continued….!

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An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

Click here to get the short-term and long-term impact of COVID-19 on this Market.

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Ruby Arterburn

Ruby is leading the team writing for artificial intelligence. She is a newcomer in the organization and has already made her base and reputation with her hard work and her efficiency towards her field. Being a student of computer science it has become easier for her to understand the objectives and the expected results of this column. She is also an excellent cook, and now and then, and we get the opportunity to taste her deliciously baked cookies.

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