Cloud Managed Services Market to Soar at 13.8% CAGR till 2027; Increasing Preference for Private Cloud Systems by Enterprises to Support Market Growth

The global cloud managed services market size is projected to reach USD 129.26 billion by 2027 owing to the rising demand for advanced cloud security solutions among large businesses, finds Fortune Business Insights™ in its report, titled “Cloud Managed Services Market Size, Share & COVID-19 Impact Analysis, By Service Type (Managed Business Services, Managed Network Services, Managed Infrastructure Services, Managed Security Services, Managed Mobility Services, and Managed Communication and Collaboration Services), By Deployment (Public Cloud, Private Cloud), By Enterprise Size (SMEs, Large Enterprises), By Vertical (Banking, Financial Services, and Insurance (BFSI), IT and Telecommunications, Government and Public Sector, Healthcare and Life Sciences, Retail and Consumer Goods, Manufacturing, Others), and Regional Forecast, 2020-2027”. The report states that the market value stood at USD 46.50 billion in 2019 and is expected to surge at 13.8% CAGR from 2020 to 2027.

The COVID-19 pandemic outbreak is anticipated to favor the cloud managed services market growth as remote working has pushed companies to shift their operations to cloud platforms. Moreover, cloud services are enabling smooth communication and exchange of information within organizations, thus ensuring worker productivity and organizational growth.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/cloud-managed-services-market-104034

Synamedia Introduces Novel VN Cloud Managed Services

Synamedia, the UK-based video software specialist, announced the launch of the Synamedia VN Cloud, its managed cloud service for its entire video network range, in September 2020. Through the VN Cloud, Synamedia intends to bring the whole gamut of benefits offered by cloud systems to its video portfolio, bringing together the latest cloud technologies to allow video service providers and broadcasters to flexible operate their services. As the industry’s first solution to deliver end-to-end functionality to video networks across any cloud system, VN Cloud is a major milestone achievement by Synamedia, creating a single platform for both broadcasters and over the top (OTT) providers.

Convergence of AI and Cloud to Broaden Market Outlook

The complementary nature of artificial intelligence (AI) and cloud systems and services has led companies to harness their combined capabilities are create groundbreaking, cutting-edge solutions. Behemoths of the tech industry such as Google and Microsoft have been consistently developing sophisticated AI-powered cloud services that can be deployed across diverse businesses and industries. The Google Cloud Machine Learning Platform, for instance, can be leveraged to build predictive models. Microsoft’s Cognitive Services allows developers to enhance their apps with advanced search, speech, language, knowledge, and vision capabilities. These large companies are veterans in the field of technology, but the real potential of the market lies in the cloud-based service startups that are proliferating across the globe. For example, Finland-based Aiven in a cloud data platform provider, offering fully-managed cloud services for open source projects such as Apache and Cassandra. Another example is the New York-based Cockroach Labs, which moves and manages critical transactional data in the cloud. The emergence of cloud service startups will, therefore, open a new growth dimension for the market.

Strategic Alliances among Key Players to Heat up Market Competition

The competitive landscape of this market is dotted with the presence of well-established companies in the technological universe. These companies, in order to widen their offerings and expand their presence in the market, are actively collaborating with other competitors and even smaller companies, which is mutually beneficial for both parties. Furthermore, the big companies, with their strong financials, are consistently increasing their investments in research and development activities to introduce innovative products for customers.

Industry Development:

• April 2019: Hewlett Packard Enterprise entered into a partnership with Nutanix to develop and deliver an integrated hybrid cloud as a service (CaaS) for businesses. The solution will leverage Nutanix’s Enterprise OS, which will be provided through Hewlett Packard’s HPE GreenLake, a hybrid cloud system that lowers total ownership cost and enhance service value.

List of Key Players Covered in this Market Report:

• Telefonaktiebolaget LM Ericsson (Stockholm, Sweden)


• Smartronix, LLC (Maryland, United States)


• Progressive Infotech Pvt. Ltd. (Noida, India)


• Nordcloud Oy (Helsinki, Finland)


• Lumen Technologies, Inc. (CenturyLink) (Louisiana, United States)


• Infosys Limited (Bengaluru, India)


• Huawei Technologies Co., Ltd. (Shenzhen, China)


• HCL Technologies Limited (Noida, India)


• Fujitsu Ltd. (Tokyo, Japan)


• DLT Solutions (Virginia, United States)


• Datacom Group Ltd (Jakarta, Indonesia)


• Cloudticity, LLC (Washington, United States)


• Capgemini SE (Paris, France)


• Augmentt Technology Inc. (Ontario, Canada)


• Amazon Web Services, Inc. (Washington, United States)


• Accenture PLC (Dublin, Ireland)


• Wipro Limited (Bengaluru, India)


• Taos Mountain LLC (California, United States)


• Rackspace US, Inc. (Texas, United States)


• NTT DATA Corporation (Tokyo, Japan)


• NEC Corporation (Tokyo, Japan)


• Logicworks (New York, United States)


• IBM Corporation (New York, United States)


• Hewlett Packard Enterprise Development LP (California, United States)


• Google LLC (California, United States)


• DXC Technology Company (Virginia, United States)


• Deloitte Touche Tohmatsu Limited (London, United Kingdom)


• Cognizant Technology Solutions Corporation (New Jersey, United States)


• Cisco Systems Inc. (California, United States)


• Bespin Global (Seoul, South Korea)


• Atos (Bezons, France)


• Alcatel-Lucent S.A. (Boulogne-Billancourt, France)

Further Report Findings:

• The managed network services segment led the overall market with a share of 28.4% and commanded the US market with a share of 25.1% in 2019 on account of increasing adoption of cloud managed services for administration of networks.


• North America is expected to dominate the market share during the forecast period owing to the extensive deployment of cloud services by government agencies in the region. The market size of the region in 2019 stood at USD 16.29 billion.

Table of Segmentation: