According to a recently released Fact.MR analysis, the cloud managed services market revenues were expected to be US$ 86.1 Bn in 2021 and are projected to increase at a CAGR of 9.6% from 2022 to 2032. The market is anticipated to reach US$ 237.0 Bn by the end of 2032.
Due to the anticipated CAGR of 9.4% over the following ten years, the US market is expected to maintain its current trend of holding a market share of close to 34%. Massive network infrastructure and rising demand for high-speed data transport and storage are driving the demand for cloud-managed services, which is projected to fuel market expansion.
Important conclusions from the market study
By 2032, the global market for managed cloud services is anticipated to be worth US$ 237 billion.
The US to account for more than 34% of market sales in 2022.
Large businesses are anticipated to account for growth at a CAGR of 9.4% during the estimated period in cloud-managed services.
The service type segment’s managed network services have the most development potential. Between 2022 and 2032, its market is anticipated to expand at a rate of roughly 9.1%.
The key market, the U.S., is anticipated to continue to dominate the market and expand at a CAGR of 9.4% from 2022 to 2032.
In this market, a variety of local and international businesses are active. IBM, Ericsson, AWS, Cisco, Infosys, NTT Data, Fujitsu, Accenture, HPE, NEC, Google, Microsoft, Intel, and DigitalOcean are some of the major players in the market for cloud-managed services. To stay competitive, businesses use a range of tactics.
• In September 2021, DigitalOcean will purchase Nimbella, a provider of serverless platforms, to offer cloud services to support business operations scaling.
• Microsoft will purchase conversational AI and cloud-based healthcare provider Nuance Communications in April 2021 for the US $19.7 billion.
• In April 2020, IBM Corporation announced that it would separate its managed infrastructure services division from its Global Technology Services division to launch a new public company called “NewCo.”