Latest News- Cloud Managed Services Market: Large enterprise is expected to lead the End-user segment during 2024-2028

The Cloud Managed Services Market is being driven by Rising adoption of cloud computing services

The Cloud Managed Services Market is expected to grow at a CAGR of 8.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 41.5 billion. In today's business landscape, enterprise mobility has become a priority as employees increasingly prefer to use their personal smartphones, tablets, and portable computers for work. This trend, known as Bring Your Own Device (BYOD), necessitates specialized management and IT service delivery frameworks to ensure secure and productive work environments. Companies are responding by providing the appropriate mobile devices to their employees, leading to an increase in the variety of operating systems and devices, such as iOS, Android, Windows, smartphones, and tablets, that can access secure corporate networks. This emerging trend of implementing BYOD policies is a global phenomenon, driven by the need to enhance employee productivity and flexibility while maintaining data security. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Large enterprise
  • Small and medium enterprise
• Service Type
  • Managed Security Services
  • Managed Network Services
  • Managed Infrastructure Services
  • Managed Business Services
• Deployment Type
  • Public Cloud
  • Private Cloud
  • Hybrid Cloud
• Technology
  • AI & Automation
  • Cloud-Native
  • IoT Integration
• Geography
  • North America
    • Canada
    • Mexico
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • South America
    • Brazil
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rising adoption of cloud computing services
• Increasing IT spending of companies
• Growth in anything-as-a-service technologies

However, the market also witnesses some limitations, which are as follows:

• Data privacy and security risk in cloud-based services
• Lack of quality standards in SLAs
• Shortage of skilled IT professionals

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Market Scope in Cloud Managed Services Market Research Report

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Research Analysis Overview

In the dynamic Cloud Managed Services Market, Managed Service Providers, Cloud Service Brokers, and Automation Platforms collaborate to deliver optimized cloud solutions. Orchestration Tools and Compliance Frameworks ensure adherence to Governance Policies and Security Standards, backed by Certifications and continuous Training. Security Awareness, Monitoring, Auditing, and Analytics fortify Cloud Security, driving Innovation and Automation in Cloud Security Compliance and Governance.

Market Research Overview

In the dynamic and evolving Cloud Managed Services Market, businesses require efficient and reliable management of Cloud Infrastructure, Security, Monitoring, Optimization, Migration, Cost Management, Governance, Compliance, DevOps Automation, and Serverless Computing. Companies invest in strategic partnerships and advanced technologies to source and evaluate various Cloud Service Providers based on cost, coverage, and quality. Professionals in management and marketing roles oversee these operations, ensuring seamless integration and optimal utilization of these services. Data sourcing and collection are crucial in this context, with businesses inventorying and evaluating Cloud-based data sources and metadata to drive informed decision-making and business growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/