DUBLIN, June 6, 2017 /PRNewswire/ --

Research and Markets has announced the addition of the "Cloud Managed Services Market by Service Type , Deployment Type, Organization Size, Industry Vertical, and Region - Global Forecast to 2022" report to their offering.

The cloud managed services market is expected to grow from USD 27.15 Billion in 2017 to USD 53.78 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 14.6%.

Increasing ICT spending and growing trend of big data analytics, increasing adoption of managed services by SMEs, and need for companies to focus on their core business are the major drivers of this market.

Mobility services and security services are the fastest growing managed service in the market. The proliferation of mobile devices and trend of BYOD in various organizations has made companies to seek for services that could help them to manage these devices along with the data generated through it, for better utilization and security need. Moreover, IoT adoption and big data trend has led to sudden requirement of data security due to which, managed security services is witnessing high demand among customers. Moreover, these requirements have led SMEs to opt and demand for managed services and focus on their core business to incur better results.

Private cloud-based deployments is gaining high traction in the market as it provides better control of the data and can reduce the risk of loss of data and issues connected to the regulatory compliance. Moreover, due its seamless benefits such as organization control, cost and energy efficiency, and improved reliability, companies prefer to deploy private cloud in their environment.

Large enterprises had the highest market size, whereas, SMEs are expected to gain high traction of cloud managed service during the forecast period of 2017-2022. Unlike large enterprises, SMEs have resource crunch and need to manage their processes with limited budget. Managed services help them to outsource their less important activities and focus on their core business requirements. Furthermore, security and compliance, reduction in downtime are some of the major benefits small enterprises are experiencing through the adoption of managed services.

Market Dynamics

Drivers

• Increasing Trend of Cloud Analytics and Big Data
• Increasing Adoption of Managed Services in SMES
• Need to Focus on Enterprise Mobility

Restraints

• Concern Over Cloud Security and Privacy
• Inefficiency of Cloud Managed Service Flow

Opportunities

• Rise in Adoption of Cloud
• Increasing Need for Managed Services
• New Business Proportions

Challenges

• Limited Availability of It Experts in Cloud

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Cloud Managed Services Market Analysis, By Service Type

8 Cloud Managed Services Market Analysis,  By Deployment Type

9 Cloud Managed Services Market Analysis,  By Organization Size

10 Cloud Managed Services Market Analysis,  By Industry Vertical

11 Geographic Analysis

12 Competitive Landscape

13 Company Profiles

• Accenture PLC
• Centurylink
• Cisco Systems, Inc.
• Civica
• DXC Technology
• Ericsson
• Fujitsu Ltd.
• Huwaei Technologies
• IBM Corporation
• NEC Corporation
• NTT Data Corporation
• Nokia Corporation (Alcatel-Lucent Enterprise)

For more information about this report visit http://www.researchandmarkets.com/research/6qnk8g/cloud_managed

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SOURCE Research and Markets