Global Cloud Managed Services Market: Market Analysis by Knowledge Sourcing Intelligence
The cloud managed services market is largely driven by increasing adoption of managed services by SMEs and rising ICT spending. Moreover, the competitive business environment with a growing trend of big data analysis is further spurring market growth. In addition to this, factors like the adoption of BYOD policies and proliferation of mobile device coupled with the growing number of SME’s, especially in developing countries, is providing impetus to the adoption of cloud-based solutions, and in turn, is positively impacting the Cloud Managed Services market growth. The ongoing technological advancement and innovation has led to the development of cloud automation solutions, due to its seamless benefits like increasing delivery speed, organized control and many others. These factors are expected to drive the demand for Cloud Managed Services over the forecast period. Government initiatives and support for ICT development across the globe is propelling ICT spending. Moreover, factors like continuous innovation, rising need for automation in businesses, emerging digital competition, and changing customer behavior is spurring the need for better infrastructure while augmenting the need for robust IT infrastructure capable of meeting the rapidly evolving need of enterprises and customers alike. The improving ICT infrastructure leads to a persistent upwards trajectory in the number of internet users while propelling the cloud managed service market growth. In addition, with the introduction of next-generation ICT infrastructure, the cloud managed services market is expected to grow further in years ahead.
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| Sample View of Global Cloud Managed Services Forecast |
Global Cloud Managed Services Market by Geography:
Geographically, cloud managed services market has been segmented as Americas, Europe Middle East and Africa, and the Asia Pacific. These regions are further segmented into countries which are important markets for Cloud Managed Services. North America Cloud Managed Services Market is projected to grow at a CAGR of XX% during the forecast period to reach a total market size of US$X.XXX billion by 2021 from US$X.XXX billion in 2015. The majority of the market growth is highly driven by the presence of major players in the U.S. and Canada, coupled with the growing computing services over the forecast period. North America is one of the most technologically advanced regions and also one of the first regions to adopt cloud technology. The presence of major players in the market coupled with the increasing deployment of cloud computing technologies, big data, and mobility services are favoring the market growth over the forecast period.
Due to the intense competition between the top players, the players are continuously investing in research for the improvisation of security for data, and also establishing more data centers in this region. Recently in 2016, Microsoft started cloud services to the clients in Canada by opening two new data centers in Quebec City, and Toronto, thereby increasing its customer base. Also, companies like IBM, Microsoft, Cisco Systems have already established their operations in this region. The growing support from the providers to their customers such as 24X7 support and real cloud support are attracting more clients in this region, thereby giving an additional boost to the cloud managed services market growth over the forecast period. the market research provides a detailed analysis of global cloud managed services market on the basis of the various segment like- by service type, by deployment model, by geography, etc. |
| Sample View of Global Cloud Managed Services Market Share by Geography |
Global Cloud Managed Services Market by Service Type:
By service type, the market for security services being followed by mobility services is projected to grow at the highest CAGR of X.XX% during the forecast period owing to surge in demand of safe and secure data transmission and network sharing by various end users industry. The increasing proliferation of mobile devices and surge in trend of BYOD by various organizations has made organizations to opt for services that could help them to manage these devices along with the data generated through it for better utilization and more security. Furthermore, the high growth rate of IoT adoption and big data trend has led to a sudden requirement of data security, which further leads to high demand for managed security services.
Major factors driving the security services segment are increasing theft of intellectual property, rise in cybercrimes, and high proliferation of mobile devices. Furthermore, the need for meeting compliance and data protection laws, limiting budgets of SMEs, and the need for security staffing are other key factors complementing the demand for cloud managed services. With a significant increase in the outsourcing of secure cloud managed services amongst Small and Medium Enterprises (SMEs), this segment is estimated to witness a significant growth rate over the forecast period.
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Hybrid cloud services are combinational services of private and public type. Organizations use these models for big data processing. Sales and business-related data can be limited to private model, and analytical queries can be performed on public models.
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