Need for Mobility Solutions in Retail Sector Necessitates Cloud Managed Services Market at 9.6% CAGR through 2032

North America to Remain at the Epicenter of Cloud Managed Services Market with Improvements in IT Infrastructure

The cloud managed services market analysis offered by Fact.MR scrutinizes key growth factors that are impacting sales. The report provides in-depth insights covering vital factors such as drivers, opportunities, key players' strategies, and demand outlook for the market. In addition to this, the study analyzes latest trends across segments including service type, vertical, organization size, and region for the forecast period (2022-2032).

NEW YORK, Oct. 19, 2022 /PRNewswire/ -- The global cloud managed services market size was valued at US$ 86.1 Billion in 2021 and is likely to exhibit growth at a CAGR of 9.6% between 2022 and 2032. Rapid expansion of cloud-based industries is one of the primary drivers of the market for cloud managed services.

Companies are increasingly utilizing managed services as they want to strengthen their operations, security, and organizational capabilities. The ability to avoid expensive system integration services and contribute to the establishment of a well-thought-out solution to guarantee cloud sustainability and economics are two benefits that cloud-based managed services offer to enterprises.

Additionally, businesses are finding it possible to promote company success because of the growing acceptance of managed services. Also, they are adopting new strategies to meet their network and IT requirements, with managed cloud services leading the pack of technologies. The global state of cloud adoption is evolving as a result of the quick adoption of cloud computing to install and manage commercial operations.

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Retail industry is one of the fastest-growing verticals owing to increased consumer spending power. In the retail sector, there is a high need for mobility solutions due to the rising trend for mobile data consumption and increased use of smartphones & tablets in developing countries.

North America is expected to generate the largest cloud managed services market share out of all the regions. Ongoing technological advancements and improvement of IT infrastructure are a couple of major factors that would foster sales of cloud managed services across North America.

Key Takeaways:

• By service type, the managed network services segment is anticipated to grow at a CAGR of 9.1% in the next ten years.
• The managed infrastructure service segment is projected to showcase growth at a CAGR of 9.1% in the global cloud managed services market.
• During the historical period from 2015 to 2021, the global cloud managed services market exhibited steady growth at a CAGR of 11.2%.
• In 2021, the U.S. dominated the North America cloud managed services market with a share of more than 34%.
• Revenues in the global cloud managed services market are expected to surge 2.5x during 2022 to 2032.

Growth Drivers:

• Emerging trend of workplace transformation, efficient collaborations, and rising digitization are projected to drive the global market.
• Emergence of managed service providers to offer 24x7 monitoring is set to attract companies to utilize cloud services in the evaluation period.

Restraints:

• Lack of integrated personnel management and data management capabilities of cloud managed services may hinder the global market.
• Cloud managed services require numerous third-party firms to outsource their abilities, which may cause confidentiality and security concerns.

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Competitive Landscape:

Key players in the cloud managed services market are creating novel products because of the modern technology's potential future. Some of the other major players are forming strategic alliances with competing companies in an effort to boost their market share and initiate effective brand promotion.

For instance,

• In October 2021, IBM and Palo Alto Networks collaborated to introduce their first joint, fully functional solution. Both companies are aiming to introduce 5G network slicing equipped with response, threat detection, security orchestration, and validation capabilities.
• In June 2021, MyNav Green Cloud Advisor was introduced by Accenture to assist businesses in achieving sustainability objectives by using the cloud. MyNav Green Cloud Advisor assists businesses in developing cloud solutions that cut carbon emissions and create a solid groundwork for ethical innovation.

Key Companies Profiled by Fact.MR 

• IBM
• Ericsson
• AWS
• Cisco
• Infosys
• NTT Data
• Fujitsu
• Accenture
• HPE
• NEC
• Google
• Microsoft
• Intel
• DigitalOcean

More Valuable Insights on Cloud Managed Services Market

In the latest study, Fact.MR offers a detailed study on global cloud managed services market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of cloud managed services through detailed segmentation as follows:

By Service Type:

• Business Services
• Network Services
• Security Services
• Infrastructure Services
• Mobility Services
• Communication and Collaboration Services

By Vertical:

• BFSI
• Telecom
• Government and public sector
• Healthcare and life sciences
• Retail and Consumer goods
• Manufacturing
• Energy and Utilities
• IT
• Others (Transport, Education, and Travel and Hospitality)

By Organization Size:

• Large Enterprises
• Small and Medium-Sized Enterprises

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• MEA

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Key Questions Covered in the Cloud Managed Services Market Report

• What is the projected value of the cloud managed services market in 2022?
• At what rate will the global cloud managed services market grow until 2032?
• Which are the factors hampering the growth in the cloud managed services market?
• Which region is expected to lead in the global cloud managed services market during 2022-2032?
• Which are the factors driving the cloud managed services market during the forecast period?

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