Market Overview:
Managed Cloud as a Service Market Size Was Valued at USD 109.49 Billion in 2023, and is Projected to Reach USD 271.14 Billion by 2032, Growing at a CAGR of 10.6 % From 2024-2032.
Managed cloud as a Serviceare services that provide management of cloud resources or infrastructure of the client. Management responsibilities may include migration, configuration, optimization, security, and maintenance. These services are deployed over private, public, and hybrid cloud environments and are provided by the Managed Cloud as a Service Provider, the service provider chooses and provides the optimal cloud resources that will meet the user’s IT infrastructure, by designing the most suitable cloud environment, the Managed Cloud as a Service Provider benefits the Clients by helping them with cloud integration and resource optimization. With the help of these services, the company gets free to outsource the tasks such as operations management, constant support, hosting, etc., and pay attention to more core initiatives and functions of the business.
Top Key Players in the Managed Cloud as a Service Market:
IBM (US), Ericsson (Sweden), Cisco (US), Fujitsu (Japan), NEC (Japan), Accenture (Ireland), AWS (US), AT&T (US), Atos (France), TCS (India), NTT DATA (Japan), Infosys (India), HPE (US), Wipro (India), Deloitte (UK) and Other Major Players.
Market Dynamics and Factors for Managed Cloud as a Service Market:
Drivers:
Increased Cloud Adoption Due to Enhanced Security, Professional Solutions, Flexibility and Scalability, And Cost Saving
Cloud service providers invest heavily in state-of-the-art security measures to protect their infrastructure and customer data. This level of security often surpasses what many businesses can achieve on-premises. As a result, organizations are increasingly turning to managed cloud services to leverage the expertise of cloud providers in maintaining robust security measures and compliance standards. Managed cloud service providers offer specialized expertise in cloud infrastructure and management. Businesses, especially those lacking in-house cloud expertise, turn to MCaaS to ensure their cloud environments are set up, optimized, and managed professionally.
Opportunities:
Increasing Number of Small and Mid-Sized Companies Adopting Cloud-Managed Services
Small and mid-sized companies constitute a vast and largely untapped market for cloud services. As cloud technology becomes more accessible and affordable, these businesses are recognizing the benefits of migrating to the cloud and seeking managed services to ease their transition and ongoing operations. Many small and mid-sized companies may not have the resources to build and maintain an in-house IT team with expertise in cloud infrastructure management. Managed cloud services allow these businesses to leverage the knowledge and skills of experienced cloud professionals without the need for significant upfront investments.
Segmentation Analysis of the Managed Cloud as a Service Market:
By Service, the Managed Business segment is Anticipated to Dominate the Market Over the Forecast period. Large enterprises are often early adopters of cloud technologies and have complex IT infrastructures. Due to their scale and specific requirements, they may heavily rely on managed cloud services to optimize their cloud operations and ensure security, compliance, and performance.
By Deployment mode, the Public Cloud segment is Anticipated to Dominate the Market Over the Forecast period. Public cloud adoption has been on the rise due to its flexibility, scalability, and cost-effectiveness. Many businesses are moving their workloads and applications to public cloud platforms like Amazon Web Services (AWS), Microsoft Azure, Google Cloud Platform (GCP), and others.
Regional Analysis of the Managed Cloud as a Service Market:
North America Region holds the largest market share of the Global Managed Cloud as a Service. Growing demand for cloud technologies due to early technological development in the region is driving the market in North America. Countries like the United States and Canada being the largest tech houses are the ones with the most smartphone penetration and have led the development of many data-demanding applications which has, after all, resulted in the adoption of managed cloud services in the region.
Key Industry Development:
In June 2022, Hewlett Packard Enterprise announced that Eclit a Turkish provider of manageable IT solutions has selected the HPE GreenLake edge-to-cloud platform to launch a new cloud portfolio and expand its infrastructure as a service and managed IT services offering. The services suite makes it possible for customers to deploy custom-built solutions with an agile, scalable, pay-per-use cloud experience across all workloads.
In October 2021, Deloitte and IBM together launched DAPPER, a new AI-based managed analytics platform. DAPPER is designed to help enterprises in obtaining insights from their data through a very secure, easy-to-use managed service solution based on AI and Hybrid Cloud.
