The term Cloud Managed Services refers to an outsourcing function, where in house functionalities of a company are outsourced, to be managed by a managed service provider (MSP) on cloud. Furthermore, the services extended by a cloud managed service provider mainly include managed data center solutions, managed network solutions and others.
These outsourced services help enterprises become more competent by bringing in skills they lack. Managed service on cloud also helps business owners replace the functions that are expensive.
Besides this, emergence of cloud managed services has played a vital role in encouraging companies lower, in house information technology cost. The service further empowers an enterprise to increase its efficiency and concentrate on its key functions.
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Moreover, there are several drivers, restraints and opportunities that are shaping the future of the market. The market is observing a rapid growth in recent years owing to the major developments in big data, mobility services and more.
On the other hand, the market growth is hindered majorly by factors such as low awareness and absence of internet penetration in certain regions. Rising trend of digitalization and mobility among enterprises worldwide, would create immense opportunities for the market players to enhance their revenues.
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The market is segmented based on deployment model, company size, industries, applications and regions. In terms of deployment model, the market is segmented into on private and public cloud.
Industries deploying cloud managed services are BFSI, retail, healthcare, IT and telecom and others. SMBs and large enterprises are the two end customers of the service.
Some of the key applications of the service includes endpoint security, managed IDS & IPS, DDoS, UTM and similar others. Key geographic regions analyzed in the report include North America, Europe, Asia Pacific and Latin America, Middle East and Africa (LAMEA).
Prominent market players are observed entering into an agreement to co-operate or collaborate to add new services to their existing portfolio. Some cloud managed service brokers are also believed to have signed agreements with popular retail brands, educational institutions.
Major players covered in this market research report are Cisco, Atos, NTT Data Corporation, IBM, CSC, Fujitsu, Accenture, Ericsson, and Alcatel Lucent among others.
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