Cloud Managed Services (CMS) Market Scenario:
The global cloud managed services market is projected to witness a rapid growth during the forecast period. The growing demand for cloud managed services among industries helps in optimizing the IT cost and improvise business efficiency.
The global cloud managed services market, by geography, is segmented into North America, Europe, Asia Pacific, and Rest of the World. As compared to other regions, the Cloud Managed Services market in North America region is expected to witness a significant growth and hold the largest market share during the forecast period. Owing to the presence of large number of established key players such as the availability of advanced IT infrastructure is expected to drive the adoption of cloud managed services. And presence of other market players such as Cisco Systems (U.S.), Ericsson (U.S.), Verizon Communications (U.S.) and IBM technologies (U.S.) is further aiding the market growth.
In the global Cloud Managed Services Market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions as enterprises are shifting toward the cloud based services and major technology providers, such as IBM, Microsoft and Google, are making momentous investments for the same.
The global cloud managed services market is projected to reach USD 55 billion at a CAGR of over 15% by the end of the forecast period 2017-2023.
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The commencement of new technology is furthering the growth capability of the market. Considerable reductions in administrative finances are bringing more developments to the market. The making of a strong value chain is additionally encouraging the development of the market. The market contestants find themselves in a promising position with the capacity to handle the pace of change. The market has the elements for displaying a better comparative or differential value. The market trends indicate promising growth of the products due to the improvements in the product range and address the customer needs in a better way. The incidence of productive units is projected to generate more sales or greater margins as compared to its market adversaries.
The central competitors in the cloud managed services market globally are IBM technologies (U.S.), Cisco Systems (U.S.), Huawei Technologies (China), NTT DATA Corporation (Japan), Alcatel-Lucent (Finland), Ericsson (U.S.), Accenture PLC (Ireland), Verizon Communications (U.S.), NTT DATA Services (U.S.), Fujitsu Ltd. (Japan) among others.
The segmentation analysis of the cloud managed services market is carried out on the basis of type, organization size, deployment, region, and end user. The type-based segment comprises of managed network services, managed mobility services, managed security services, managed data center services, managed infrastructure services, and managed communication services.
On the basis of deployment, the market for cloud managed services consists of private cloud and public cloud. Based on organization size, the cloud managed services market consists of large enterprises and small & medium enterprises. Based on vertical segment, the cloud managed services market comprises of telecommunication and IT, BFSI, government, retail, healthcare, energy & utilities, manufacturing, and others. The regions included in the cloud managed services market are Asia Pacific, Europe, North America, and Rest of the World.
Detailed Regional Analysis:
The regional analysis of the cloud managed services market globally includes regions such as Asia Pacific, North America, Europe, and Rest of the World. It has been noticed that the North American region is responsible for the principal share in the cloud managed services market. Due to technological improvement, robust infrastructure, and unified internet connectivity, the market is growing steadily. Additionally, the incidence of key players such as Verizon Communications, Cisco Systems, and NTT DATA Services (U.S.) is enhancing the market’s development. The European region controls the second position in the cloud managed service market trailed by the Asia Pacific region.
The Asia Pacific region is estimated to have the highest development rate in the forecast years due to the growing implementation of cloud-based business application and evolution of the cloud service providers service range.
Feb 2019 Nordea Bank which is a Nordic-based financial services group has announced that it will outsource its IBM Z infrastructure facilities to IBM.As per the $540 million multi-year agreement, the bank will contract out a chunk of its IBM Z mainframe servers and software processes to IBM.The latest agreement will also help Nordea accelerate its leadership as one of the major financial services organizations in the Nordics and offer a genuine path to bringing novel efficiencies in their digital transformation.
Table of Content:
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
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List of Tables
Table 1 Global Cloud Managed Services Market: By Region, 2017-2023
Table 2 North America Cloud Managed Services Market: By Country, 2017-2023
Table 3 Europe Cloud Managed Services Market: By Country, 2017-2023
List of Figures
Figure 1 Global Cloud Managed Services Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Five Forces Analysis of Global Cloud Managed Services Market
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