Cloud Managed Services Market Grows At 10.1% CAGR |  Key Player Ericsson, Cisco, Infosys, Fujitsu, Accenture

Cloud Managed Services Market Grows At 10.1% CAGR | Key Player Ericsson, Cisco, Infosys, Fujitsu, Accenture

Cloud Managed Services Market Grows At 10.1% CAGR |  Key Player Ericsson, Cisco, Infosys, Fujitsu, Accenture

IBM (US), Ericsson (Sweden), AWS (US), Cisco (US), Infosys (India), NTT DATA (Japan), Fujitsu (Japan), Accenture (Ireland), HPE (US) and NEC (Japan), Atos (France), Alcatel-Lucent (France), TCS (India), Wipro (India), Rackspace (US), Datacom (New Zealand), Huawei (China), Cloudicity (Washington), Connectria (US), DLT Solutions (US), Sirius Compture Solutions (US)”.

Cloud Managed Services Market with Impact of COVID-19, by Service Type (Managed Business, Managed Network, Managed Security, Managed Infrastructure, Managed Mobility), Enterprise Size, Verticality, and Region – Global Forecast to 2026

The cloud managed services market size is expected to grow from USD 86.1 billion in 2021 to USD 139.4 billion by 2026, with a compound annual growth rate (CAGR) of 10.1% during the forecast period. Cloud-managed services are critical to growth for all organizations, regardless of size. The general market scenario includes companies that can afford to outsource their services because it involves cost, but with dynamically changing business frontiers, medium and small businesses around the world offer specialized services even to small and medium businesses by providing attractive subscription models. Low IT budgets and a shortage of IT skills professionals among SMBs has increased the demand for cloud-managed services. Cloud-managed services help organizations manage the risks associated with their IT assets in an efficient and cost-effective manner in line with industry best practices. Contracting IT requirements with MSPs enables companies to focus on their core competency without increasing the impact of IT. In the study, different types of services are considered, such as managed business services, managed network services, managed security services, managed data center and IT infrastructure services, managed mobility services, and managed communications and collaboration.

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The managed infrastructure services sector is estimated to have the largest market size during the forecast period

Managed infrastructure can be obtained from data center hosting, co-location, or through a cloud-based Data Center as a Service (DCaaS) platform. Managed infrastructure services help organizations reduce the cost involved in cooling requirements and energy consumption as well as simplify the management of resources and data. MSPs offer comprehensive hosting capabilities and provide secure hosting for web or other application servers and related internet connectivity.

Large companies are adopting cloud-managed services at a higher rate

The cloud managed services market is segmented into SMEs and large corporations based on enterprise size. Cloud-managed services are critical to growth for all organizations, regardless of size. The general market scenario includes companies that can afford to outsource their services because it involves cost, but with dynamically changing business frontiers, medium and small businesses around the world offer specialized services even to small and medium businesses by providing attractive subscription models. Large companies prefer to have specialized IT staff and only buy broadband from other providers. Recently, these companies have started hiring their IT workforce for core activities while outsourcing support services; Hence, managed services are gaining momentum in large organizations. The affordability of resources and the high economies of scale enable these organizations to take advantage of the advantages of managed services.

The major players have implemented various growth strategies to expand their global presence and increase their market shares. Major players such as IBM (US), Ericsson (Sweden), AWS (US), Cisco (US), Infosys (India), NTT DATA (Japan), Fujitsu (Japan), Accenture (Ireland), and HPE (US United), NEC (Japan), Atos (France), Alcatel-Lucent (France), TCS (India), Wipro (India), Rackspace (US), Datacom (New Zealand), Huawei (China), Cloudicity (Washington) , Connectria (US), DLT Solutions (US), Sirius Compture Solutions (US) have largely adopted several growth strategies, such as new product launches, acquisitions, and partnerships, to expand their product portfolios and grow further in the managed services market across the cloud.

IBM owns a wide range of products, such as cloud computing, artificial intelligence, commerce, data and analytics, Internet of Things, IT infrastructure, mobile, digital workplace, and cybersecurity. IBM Cloud contains IaaS, SaaS, and PaaS, which are delivered through public, private, and hybrid cloud delivery models. IBM also owns the IBM Bluemi PaaS system that enables developers to quickly create complex websites on a pay-as-you-go model. It produces and sells computers, middleware, and software, and provides hosting and consulting services in areas ranging from mainframe computers to nanotechnology. The company is also in research organizations. The Cloud Computing and Mobile Technologies Conference is held at InterConnect every year.

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Accenture Strategy provides business strategy, technology strategy, and operations strategy services. It also provides consultancy in the areas of technology, business and management. Accenture Interactive (formerly Digital) provides digital marketing, analytics, and mobility services. Accenture Technology focuses on technology programs, implementation, delivery, and research and development, including its technology labs for emerging technologies. Accenture’s operations focus on the “as a service” model of service delivery. This includes business process outsourcing, IT services, cloud services, managed operations, and security. The company provides services and solutions across more than 40 industries in five industry groups. It has leading partners, such as SAP, Microsoft, Oracle, Salesforce and Workday. Accenture serves aerospace and defense, agribusiness, airline, banking, automotive, chemicals, telecommunications, energy, consumer goods and services, healthcare, retail, and research and development.

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