The cloud managed services market size is expected to grow from USD 86.1 billion in 2021 to USD 139.4 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 10.1% during the forecast period. Cloud managed services are important for all organizations, irrespective of their sizes, to grow. A general market scenario involves enterprises who can afford to outsource their services as it involves cost, but with the dynamically changing business frontiers, MSPs around the globe are offering specialized services even to SMEs by providing attractive subscription models. Low IT budgets and a lack of IT skill professionals among SMEs have increased the demand for cloud managed services. Cloud managed services help enterprises manage the risks associated with IT assets in an efficient, cost-effective fashion aligned with industry best practices. Contracting out IT requirements to MSPs enables enterprises to focus on their core competency without increasing the IT footprint. In the study, different service types are considered, such as managed business services, managed network services, managed security services, managed data center services and IT infrastructure, managed mobility services, and managed communication and collaboration.
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Managed Infrastructure services segment is estimated to have the largest market size during the forecast period
A managed infrastructure can be sourced from data center hosting, colocation, 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 power consumption as well as simplify the management of resources and data. MSPs offer comprehensive hosting capabilities and provide secure hosting of web or other application servers and related internet connectivity.
Large enterprises are adopting cloud managed services at a higher rate
The cloud managed services market is divided into SMEs and large enterprises segments on the basis of organization size. Cloud managed services are important for all organizations, irrespective of their sizes, to grow. A general market scenario involves enterprises who can afford to outsource their services as it involves cost, but with the dynamically changing business frontiers, MSPs around the globe are offering specialized services even to SMEs by providing attractive subscription models. Large enterprises preferred to have dedicated IT staff and only purchased broadband from other providers. Recently, these enterprises have started to employ their IT manpower in core activities while outsourcing support services; thus, managed services are gaining traction in large enterprises. Affordability of resources and high economies of scale enable these organizations to leverage the benefits of managed services.
The major players have implemented various growth strategies to expand their global presence and increase their market shares. Key players such as IBM (US), Ericsson (Sweden), AWS (US), Cisco (US), Infosys (India), NTT DATA (Japan), Fujitsu (Japan), Accenture (Ireland), HPE (US), 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 majorly adopted many growth strategies, such as new product launches, acquisitions, and partnerships, to expand their product portfolios and grow further in the cloud managed services market.
IBM has a large product portfolio, such as cloud computing, artificial intelligence, commerce, data and analytics, IoT, IT infrastructure, mobile, digital workplace, and cybersecurity. IBM Cloud has IaaS, SaaS, and PaaS, which are offered through public, private, and hybrid cloud delivery models. IBM also has IBM Bluemi PaaS that enables developers to quickly create complex websites on a pay-as-you-go model. It produces and sells computer hardware, middleware, and software and provides hosting and consulting services in areas ranging from mainframe computers to nanotechnology. The company is also into research organizations. It also holds a cloud computing and mobile technologies conference in InterConnect each year.
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Accenture Strategy provides business strategy, technology strategy, and operations strategy services. It also provides technology, business, and management consulting. Accenture Interactive (formerly Digital) provides digital marketing, analytics, and mobility services. Accenture Technology focuses on technology software, implementation, delivery, and R&D, including its Technology Labs for emerging technologies. Accenture Operations focus on an “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 provides its services in aerospace and defense, agribusiness, airlines, banking, automotive, chemicals, communication, energy, consumer goods and services, healthcare, retail, and R&D.
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