The Cloud Managed Services Global Market Report 2023, provides comprehensive information on the cloud managed services market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global landscape of cloud managed services is poised for substantial expansion, with estimations indicating a growth from $80.03 billion in 2022 to $89.68 billion in 2023, showcasing a commendable Compound Annual Growth Rate (CAGR) of 12.1%. Despite this promising trajectory, the global economic recovery, already challenged by the aftermath of the COVID-19 pandemic, encountered additional hurdles due to the ongoing Russia-Ukraine conflict. This geopolitical tension instigated widespread economic sanctions, triggering a domino effect of commodity price surges and intricate supply chain disruptions. These complexities reverberated across diverse markets, resulting in inflationary pressures on goods and services globally.
In the face of these challenges, the cloud managed services sector is anticipated to exhibit resilience, with a projected market size of $141.03 billion by 2027, sustaining a steady CAGR of 12.0%. This evolution underscores the industry’s adaptability and strategic prowess, emphasizing the pivotal role of innovation and agility in navigating intricate global landscapes. As the market continues to expand, stakeholders are urged to stay abreast of dynamic market forces, leveraging innovative solutions and data-driven insights to capitalize on emerging opportunities, ensuring sustained growth and competitiveness in an ever-evolving digital era.
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The cloud-managed services sector is currently witnessing a prominent and transformative trend, characterized by a growing emphasis on technological advancements. Leading companies within this domain are dedicating their resources and expertise to the development of innovative technological solutions, positioning themselves as vanguards of this dynamic evolution. An illustrative example of this forward-thinking approach is exemplified by Red Hat Software, a renowned U.S.-based software company.
In April 2021, Red Hat Software unveiled a trio of cutting-edge cloud services: Red Hat OpenShift API Management, Red Hat OpenShift Streams for Apache Kafka, and Red Hat OpenShift Data Science. These offerings represent a significant stride in empowering organizations by providing a fully-managed and seamless user experience. They enable businesses to design, deploy, oversee, and expand cloud-native applications across hybrid environments with unmatched efficiency and agility.
These innovations not only underscore the market’s commitment to enhancing operational excellence but also herald the advent of a new era in cloud-managed services. As organizations strive for increased competitiveness and flexibility, these novel solutions are integral in reshaping the landscape of cloud management. They embody the spirit of technological innovation, propelling the industry forward into a realm of enhanced capabilities and possibilities. In a rapidly evolving digital world, such advancements serve as a testament to the industry’s commitment to progress and continuous improvement, reinforcing its position at the forefront of the technology landscape.
The cloud managed services market is segmented:
1) By Service Type: Managed Business Services, Managed Network Services, Managed Security Services, Managed Infrastructure Services, Managed Mobility Services, Managed Communication and Collaboration Services
2) By Deployment: Public cloud, Private cloud
3) By Organization Size: Large Enterprises, Small and Medium-Sized Enterprises (SMEs)
4) By End-User: Government, Retail, IT and Telecommunication, Manufacturing, BFSI, Healthcare, Energy and Utilities
North America was the largest region in the cloud managed services market in 2022.
The table of contents in TBRC’s cloud managed services market report includes:
- Executive Summary
- Cloud Managed Services Market Characteristics
- Cloud Managed Services Market Trends And Strategies
- Cloud Managed Services Market – Macro Economic Scenario
- Cloud Managed Services Market Size And Growth
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- Africa Cloud Managed Services Market
- Cloud Managed Services Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Cloud Managed Services Market
- Cloud Managed Services Market Future Outlook and Potential Analysis
- Appendix
Top 5 Major Key Players Are:
- International Business Machines Corporation
- Ericsson
- Amazon Web Services Inc
- Cisco Systems Inc
- Infosys Limited
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