Cloud Managed Services Market Size, Share & Trends Analysis Report By Service Type (Business, Network), By Cloud Deployment (Public, Private), By End-user, By Verticals, By Region, And Segment Forecasts, 2023 - 2030

Cloud Managed Services Market Size, Share & Trends Analysis Report By Service Type (Business, Network), By Cloud Deployment (Public, Private), By End-user, By Verticals, By Region, And Segment Forecasts, 2023 - 2030

Cloud Managed Services Market Growth & Trends

The global cloud managed services market size is expected to reach USD 305.16 billion by 2030, according to a study conducted by Grand View Research, Inc. The market is expected to expand at a CAGR of 14.7% from 2023 to 2030. The focus of enterprises on primary business operations is resulting into higher cloud managed services adoption. Business services, security services, network services, data center services, and mobility services are major categories in cloud managed services market. Implementation of these services will help enterprises to reduce IT and operations costs and will also enhance productivity of those enterprises.

Availability of developed IT infrastructure will drive the managed cloud services adoption in North America. The regional markets of APAC and Middle East & Africa will witness significant growth. This growth will be a result of increased cloud adoption and increase in significant investments from prominent players.

The market will observe some restraints as well, such as data privacy & security, and poor connectivity. These factors are expected to hamper the market growth during the forecast period. Data security will be a major restraining factor as it will affect cloud adoption and cloud managed services market as well. It will lead service providers to focus more on including security features to acquire customers.

Cloud Managed Services Market Report Highlights

• The mobility services segment accounted for the largest revenue share of 37.9% in 2022. Increasing the adoption of portable and mobile devices in enterprises will further drive the growth of this segment.
• The private segment accounted for the largest revenue share of around 86.4% in 2022. The private cloud offers several benefits to enterprises, such as increased data security and access control.
• The SMEs segment is expected to grow at the fastest CAGR of 18.0% over the forecast period. Customizations provided to organizations by service providers enable them to experience flexibility. These factors are expected to drive SMEs' adoption of cloud managed services.
• The healthcare segment held a significant revenue share in 2022. The increased cloud adoption in the healthcare industry drives the demand for cloud managed services.
• Asia Pacific is expected to grow at the fastest CAGR of 19.1% during the forecast period, owing to the growing adoption of cloud managed services by small and medium-sized enterprises, which are expected to drive market growth.

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