Global Cloud Managed Service Market, By Service (Managed Network Service, Managed Security Service, Managed Mobility, IT Infrastructure Management Service) By End User (Large Enterprises, Small and Medium Enterprises (SMEs)) By Industry (BFSI, IT and Telecom, Healthcare, Government), and opportunities and forecast 2020-2027

Cloud Managed Service Market Overview

The growing trend of cloud automation has had a big impact on the global market for cloud managed services. The increased adoption of managed services by small and mid-sized businesses (SMEs) over traditional services, owing to their extra benefits, is propelling this market to significant growth. This market is also benefiting from the large increase in ICT spending, the growing trend of big data analytics, and the growing requirement for businesses to focus on their core business.
 
During the forecast period, the increased use of cloud managed services by large IT organizations to minimize capital expenses and convert them to operational costs may provide significant potential prospects for the cloud managed service market. The widespread adoption of big data analytics and the growing demand for various enterprises to focus on their core competencies could propel the cloud managed service market to new heights.

Report Metric	Details
Market size available for years	2019–2027
Base year considered	2019
Forecast period	2020–2027
Forecast unit	Value (USD Million)
Segments covered	Service, End User, Industry, and Region.
Regions covered	North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA)
Companies covered	NTT Data Corp., NEC Corp., Rackspace, Cisco Systems Inc., Hewlett Packard Enterprises, VMWare, Huawei Technologies, AT&T, Microsoft Corp., and IBM Corp.

Covid-19 Impact on Cloud Managed Service Market

Like many other industries, COVID-19 badly knocked the electronic and semiconductor industries. This unprecedented event has impacted nearly 230 countries in just a few weeks, resulting in the forced shutdown of manufacturing and transportation activities within and across the countries. This has directly affected the overall sector's growth. It is estimated that COVID-19 to leave more than USD 30 billion impacts on the electronics and semiconductor industry. The sector is majorly affected due to transport restrictions on major electronics and semiconductor raw material providers. However, the emerging need for semiconductors in several industries will offer rapid market recovery over the future period.

Cloud Managed Service Market Segment Overview



According to Service, Managed Network Service is one of the most prominent segments in the global Cloud Managed Service Market. Globally, demand for managed network services is substantially larger than demand for other cloud managed services, and studies estimate that this trend will continue in the next years. However, as the use of mobile data security services grows rapidly in developing enterprises, cloud-based security services are expected to create a place for themselves in the near future.
 
Cloud Managed Service Market, By Service
·       Managed Network Service
·       Managed Security Service
·       Managed Mobility
·       IT Infrastructure Management Service
 
Cloud Managed Service Market, By End User
·       Large Enterprises 
·       Small and Medium Enterprises (SMEs)

Cloud Managed Service Market, By Industry
·       BFSI
·       IT and Telecom
·       Healthcare
·       Government

Cloud Managed Service Regional Overview

In terms of geography, the global Cloud Managed Service market is classified into North America, Europe, Asia Pacific, South America, Middle East & Africa. North America has risen to the top of the list and is anticipated to maintain its position in the coming years. Over the last few years, the existence of a large pool of notable managed service providers across the United States and Canada has boosted this regional market. Over the forecast period, the market for cloud managed services in North America is expected to grow at a strong CAGR.

Europe and the Asia Pacific excluding Japan, among other regions, are likely to see strong growth in their respective markets for cloud managed services. Europe will profit from the presence of advanced IT infrastructure, whilst APEJ will benefit from the abundance of untapped market growth potential.
 
Cloud Managed Service Market, By Geography

·       North America (US & Canada)
·       Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
·       Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
·       LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
 
Cloud Managed Service Market Competitor overview

Some key developments and strategies adopted by manufacturers in Cloud Managed Service are highlighted below.

·       In February 2022,  Vultr, a leading independent provider of cloud infrastructure,  announced the general availability of its partner program. Soft-launched in 2021, Vultr has already attracted more than 500 managed service providers (MSPs), resellers, and technology innovators who are frustrated by the limited margins, high prices, and restrictive programs of the Big Tech cloud providers.
 
·       In February 2022, LEAN, the leading national cloud solutions provider, announced its Cloud Managed Services launch.  The newly launched service offers a unique solution for organizations looking to focus their IT resources on achieving business objectives.
 
Cloud Managed Service Market, Key Players

·       NTT Data Corp.
·       NEC Corp.
·       Rackspace
·       Cisco Systems Inc.
·       Hewlett Packard Enterprises
·       VMWare
·       Huawei Technologies
·       AT&T
·       Microsoft Corp.
·       IBM Corp.

Frequently Asked Questions (FAQ) :

Q1. What are the driving factors for the global Cloud Managed Service market?

Q2. Which Segments are covered in the global Cloud Managed Service market report?

Q3. Which segment is projected to hold the largest share in the global Cloud Managed Service market?

Q4. Which region holds the largest share in the global Cloud Managed Service market?

Q5. Which are the prominent players in the global Cloud Managed Service market?