Global Cloud Managed Services Market is valued USD 23.8 billion in 2016 is anticipated to grow USD 44.7 billion with the compounded annual growth of 14.8 % over the forecast period 2018-2025.
New York 10 October 2018, As per the new research study conducted by Bizwit Research & Consulting, Global Cloud Managed Services Market industry is poised to raise USD 82.4 billion by 2025. The focus of enterprises on primary business operations is resulting into higher cloud managed services adoption. Business services, security services, network services, data center services, and mobility services are major categories in cloud managed services market. Implementation of these services will help enterprises to reduce IT and operations costs and will also enhance productivity of those enterprises. Availability of developed IT infrastructure will drive the managed cloud services adoption in North America. The regional markets of APAC and Middle East & Africa will witness significant growth. This growth will be a result of increased cloud adoption and increase in significant investments from prominent players.
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Global Cloud Managed Services Market Size study by Type (Public, Private), by Vertical (Government & Education, IT & Telecom, BFSI, Retail & Consumer, Healthcare Manufacturing & Automotive, Others) and by Regional Forecasts 2018-2025
The industry is seeming to be fairly competitive. Some of the leading market players Cisco System, IBM, Ericsson., Accenture PLC, Verizon Communications Inc, NTT Data Corporation., CenturyLink, China Huaxin, Fujitsu Limited and so on. The fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- Asia Pacific (APAC) is expected to grow at the highest CAGR from 2017 to 2025 in the cloud managed services market.
- North America being the most advanced region in cloud technology has higher adoption of managed services due to the increased organizational and communication activities.
Bizwit Research & Consulting LLP has considered following segments for the study:
- Telecom & IT
- Government & Education
- Retail & Consumer
- Manufacturing & Automotive
- North America
- Asia Pacific
- Latin America
- Rest of the World