DUBLIN--(BUSINESS WIRE)--The "Cloud Managed Services Market - Forecasts from 2018 to 2023" report has been added to ResearchAndMarkets.com's offering.
The cloud managed services market is projected to witness the growth at a CAGR of 12.54% during the forecast period to reach a total market size of US$66.550 billion by 2023, increasing from US$32.757 billion in 2017.
Increasing adoption of managed services by SMEs, higher ICT spending, increasing adoption of big data analytics and need for companies to focus on their core business are the key factors driving the growth of cloud managed services market.
Other factors include burgeoning proliferation of mobile devices and adoption of BYOD policies in various organizations. Due its seamless benefits such as organization control, cost and energy efficiency, and improved reliability, cloud managed services are gaining traction.
Conversely, some of the major restraints of the market are concerns over privacy and security, high bandwidth cost and perception of cloud managed services resulting loss of control over the company's infrastructure.
APAC is expected to grow at the fastest rate during the forecasted period owing to rapid outsourcing IT related functions by enterprises across different industry verticals.
The competitive intelligence section of this report deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of the report are Cisco, IBM, Ericsson, NTT Data Corporation along with others.
Key Topics Covered
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Cloud Managed Services Market Forecast by Service Type (US$ billion)
7. Cloud Managed Services Market Forecast by Enterprise Size (US$ billion)
8. Cloud Managed Services Market Forecast by End-User Industry (US$ billion)
9. Cloud Managed Services Forecast Market by Geography (US$ billion)
10. Competitive Intelligence
11. Company Profiles
- Cisco Systems
- IBM Corporation
- NTT Data Corporation
- Huawei Technologies
- NEC Corporation
For more information about this report visit https://www.researchandmarkets.com/research/x8bkjg/global?w=4