HOME Top Market Reports Cloud Managed Services Market by Service Type (Managed Infrastructure, Managed Network, Managed Security, Managed Data Center, and Managed Mobility Services), Deployment Type, Organization Size, Industry Vertical, and Region - Global Forecast to 2022

Cloud Managed Services Market by Service Type (Managed Infrastructure, Managed Network, Managed Security, Managed Data Center, and Managed Mobility Services), Deployment Type, Organization Size, Industry Vertical, and Region - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: May 2017
Report Code: TC 3428

 

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The cloud managed services market size is projected to grow from USD 27.15 Billion in 2017 to USD 53.78 Billion by 2022, at an expected CAGR of 14.6%.

Objectives of the Study:

The main objective of this report is to define, describe, and forecast the cloud managed services market on the basis of segments which include component, deployment type, organization size, vertical, and region. The report provides detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges). The report forecasts the market size with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. The report strategically profiles key players and comprehensively analyzes their core competencies. This report also tracks and analyzes competitive developments such as mergers and acquisitions, new product developments, and Research and Development (R&D) activities in the cloud managed services market.

The research methodology used to estimate and forecast the cloud managed services market begins with the collection and analysis of data on key vendor product offerings and business strategies from secondary sources, such as IT service providers, technology providers, press releases, investor presentations of companies, white papers, technology journals, certified publications, and articles from recognized authors, directories, and databases. The vendor offerings have also been taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the total market size of the cloud managed services market from the revenue of the key market software tool providers and service providers. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of the primary participants is depicted in the figure below:

Cloud Managed Services Market

To know about the assumptions considered for the study, download the pdf brochure

Industry Ecosystem

The cloud-managed service ecosystem comprises vendors such as IBM technologies(US), Huawei Technologies (China), Alcatel-Lucent (Finland), NTT DATA Corporation (Japan), and Cisco Systems (US); service providers, system integrators, and enterprises. Other stakeholders of the cloud managed services market include cyber security vendors, distributors, IT security agencies, OEM, consulting service providers, IT service providers, resellers, telecom operators, enterprise users, and technology providers.

Key Target Audience

  • Speech analytics vendors
  • Workforce optimization solution providers
  • Customer experience solution providers
  • Contact center infrastructure vendors
  • Managed speech analytics service providers
  • Value added resellers

Scope of the Report

The research report categorizes the cloud managed services market to forecast the revenues and analyze the trends in each of the following sub-markets:

By Type

  • Managed infrastructure services
    • Managed print services
    • Managed desktop services
    • Managed backup and recovery services
    • Others
  • Managed network services
    • Virtual private network services
    • Network monitoring and maintenance services
    • Others
  • Managed security services
    • Threat management services
    • Vulnerability management services
    • Incident management services
    • Others
  • Managed data center services
    • Hosting services
    • Storage services
    • Others
  • Managed mobility services
  • Managed communication services
    • Unified communications services
    • Email communications services

By Deployment Type

  • Public cloud
  • Private cloud

By Organization Size

  • SMEs
  • Large enterprise

By Vertical

  • BFSI
  • Telecom and IT
  • Government
  • Healthcare
  • Retail
  • Manufacturing
  • Energy and utilities
  • Others

By Region

  • North America
  • Europe
  • Middle East and Africa (MEA)
  • Asia Pacific (APAC)
  • Latin America

Available Customization

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product matrix which gives a detailed comparison of the product portfolio of each company

Geographic Analysis

  • Further breakdown of the North American cloud managed services market into countries
  • Further breakdown of the European market into countries
  • Further breakdown of the APAC market into countries
  • Further breakdown of the Middle Eastern and African market into countries
  • Further breakdown of the Latin American market into countries

Company Information

  • Detailed analysis and profiling of additional market players

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
    1.4 Years Considered for the Study
    1.5 Currency
    1.6 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primary Interviews
                    2.1.2.2 Key Industry Insights
    2.2 Market Size Estimation
    2.3 Research Assumptions
    2.4 Limitations
    2.5 Vendor Dive Matrix
           2.5.1 Quadrant Description

3 Executive Summary (Page No. - 27)
    3.1 Evolution of the Cloud Managed Services Market

4 Premium Insights (Page No. - 30)
    4.1 Attractive Market Opportunities in the Global Cloud Managed Services Market
    4.2 Cloud Managed Services Market, By Service Type
    4.3 Global Market By Vertical  and By Region
    4.4 Lifecycle Analysis, By Region

5 Market Overview (Page No. - 33)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Trend of Cloud Analytics and Big Data
                    5.2.1.2 Increasing Adoption of Managed Services in SMES
                    5.2.1.3 Need to Focus on Enterprise Mobility
           5.2.2 Restraints
                    5.2.2.1 Concern Over Cloud Security and Privacy
                    5.2.2.2 Inefficiency of Cloud Managed Service Flow
           5.2.3 Opportunities
                    5.2.3.1 Rise in Adoption of Cloud
                    5.2.3.2 Increasing Need for Managed Services
                    5.2.3.3 New Business Proportions
           5.2.4 Challenges
                    5.2.4.1 Limited Availability of It Experts in Cloud

6 Industry Trends (Page No. - 37)
    6.1 Introduction
    6.2 Innovation Spotlight
    6.3 Strategic Benchmarking
           6.3.1 Strategic Benchmarking: New Product Launches and Partnerships of Top Vendors

7 Cloud Managed Services Market Analysis, By Service Type (Page No. - 39)
    7.1 Introduction
    7.2 Managed Infrastructure Services
           7.2.1 Managed Print Services
           7.2.2 Managed DesKTop Services
           7.2.3 Managed Backup and Recovery Services
           7.2.4 Others
    7.3 Managed Network Services
           7.3.1 Virtual Private Network
           7.3.2 Network Monitoring and Maintenance Services
           7.3.3 Others
    7.4 Managed Security Services
           7.4.1 Threat Management Services
           7.4.2 Vulnerability Management Services
           7.4.3 Incident Management Services
           7.4.4 Others
    7.5 Managed Data Center Services
           7.5.1 Hosting Services
           7.5.2 Storage Services
           7.5.3 Others
    7.6 Managed Mobility Services
    7.7 Managed Communication Services
           7.7.1 Unified Communications Services
           7.7.2 Email Communications Services

8 Cloud Managed Services Market Analysis,  By Deployment Type (Page No. - 57)
    8.1 Introduction
    8.2 Public Cloud
    8.3 Private Cloud

9 Cloud Managed Services Market Analysis,  By Organization Size (Page No. - 61)
    9.1 Introduction
    9.2 Large Enterprises
    9.3 Small and Medium Enterprises

10 Cloud Managed Services Market Analysis,  By Industry Vertical (Page No. - 65)
     10.1 Introduction
     10.2 Banking, Financial Services, and Insurance
     10.3 Telecom and IT
     10.4 Government
     10.5 Healthcare
     10.6 Retail
     10.7 Manufacturing
     10.8 Energy and Utilities
     10.9 Others

11 Geographic Analysis (Page No. - 73)
     11.1 Introduction
     11.2 North America
     11.3 Europe
     11.4 Asia Pacific
     11.5 Middle East and Africa
     11.6 Latin America

12 Competitive Landscape (Page No. - 98)
     12.1 Introduction
             12.1.1 Vanguards
             12.1.2 Innovator
             12.1.3 Dynamic
             12.1.4 Emerging
     12.2 CompetiTVe Benchmarking
             12.2.1 Product Offerings (For All 25 Players)
             12.2.2 Business Strategy (For All 25 Players)

*Top 25 Companies Analyzed for This Study are - Agile It, Akimeka, LLC, Centurylink, Eastlink, Netfast Technology Solutions Inc., Riverbed Technology, Accenture PLC, Capgemini, Cisco Systems, Inc., DXC Technology, Ericsson, Fujitsu Ltd., IBM Corporation, Nokia, Oracle, Rackspace, Blazeclan Technologies, Civica, Esri, It Convergence, Riskvision, Huawei Technologies, NEC Corporation, NTT Data Corporation, Verizon Enterprise

13 Company Profiles (Page No. - 102)
(Overview, Financials, Products & Services, Strategy, and Developments)*
     13.1 Cisco Systems, Inc.
     13.2 Ericsson
     13.3 IBM Corporation
     13.4 NTT Data Corporation
     13.5 Huwaei Technologies
     13.6 Accenture PLC 
     13.7 Nokia Corporation (Alcatel-Lucent Enterprise)
     13.8 Fujitsu Ltd.
     13.9 DXC Technology
     13.10 NEC Corporation
     13.11 Centurylink
     13.12 Civica

*Details on Overview, Financials, Product & Services, Strategy, and Developments Might Not Be Captured in Case of Unlisted Companies.

14 Appendix (Page No. - 136)
     14.1 Key Industry Insights
     14.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     14.4 Introducing RT: Real-Time Market Intelligence
     14.5 Available Customizations
     14.6 Related Reports
     14.7 Author Details


List of Tables (85 Tables)

Table 1 Cloud Managed Services Market Size and Growth Rate, 2015–2022 (USD Billion, Y-O-Y %)
Table 2 Market Size, By Service Type, 2015–2022 (USD Billion)
Table 3 Managed Infrastructure Services: Cloud Managed Services Market Size,  By Type, 2015–2022 (USD Billion)
Table 4 Managed Print Services Market Size, By Region, 2015–2022 (USD Billion)
Table 5 Managed Desktop Services Market Size, By Region, 2015–2022 (USD Billion)
Table 6 Managed Backup and Recovery Services Market Size, By Region, 2015–2022 (USD Billion)
Table 7 Other Managed Infrastructure Services Market Size, By Region, 2015–2022 (USD Billion)
Table 8 Managed Network Services: Market Size, By Type, 2015–2022 (USD Billion)
Table 9 Virtual Private Network Services Market Size, By Region, 2015–2022 (USD Billion)
Table 10 Network Monitoring and Maintenance Services Market Size, By Region,  2015–2022 (USD Billion)
Table 11 Other Managed Network Services Market Size, By Region, 2015–2022 (USD Billion)
Table 12 Managed Security Services: Cloud Managed Services Market Size, By Type, 2015–2022 (USD Billion)
Table 13 Threat Management Services Market Size, By Region, 2015–2022 (USD Billion)
Table 14 Vulnerability Management Services Market Size, By Region, 2015–2022 (USD Billion)
Table 15 Incident Management Services Market Size, By Region, 2015–2022 (USD Billion)
Table 16 Other Managed Security Services Market Size, By Region, 2015–2022 (USD Billion)
Table 17 Managed Data Center Services: Market Size, By Type, 2015–2022 (USD Billion)
Table 18 Hosting Services Market Size, By Region, 2015–2022 (USD Billion)
Table 19 Storage Services Market Size, By Region, 2015–2022 (USD Billion)
Table 20 Other Managed Data Center Services Market Size, By Region, 2015–2022 (USD Billion)
Table 21 Managed Mobility Services Market Size, By Region, 2015–2022 (USD Billion)
Table 22 Managed Communication Services: Cloud Managed Services Market Size,  By Type, 2015–2022 (USD Billion)
Table 23 Unified Communications Services Market Size, By Region, 2015–2022 (USD Billion)
Table 24 Email Communications Services Market Size, By Region, 2015–2022 (USD Billion)
Table 25 Cloud Managed Services Market Size, By Deployment Type, 2015–2022 (USD Billion)
Table 26 Public Cloud: Market Size, By Region, 2015–2022 (USD Billion)
Table 27 Private Cloud: Market Size, By Region, 2015–2022 (USD Billion)
Table 28 Market Size, By Organization Size, 2015–2022 (USD Billion)
Table 29 Large Enterprises: Market Size, By Region,  2015–2022 (USD Billion)
Table 30 Small and Medium Enterprises: Market Size,  By Region, 2015–2022 (USD Billion)
Table 31 Cloud Managed Services Market Size, By Industry Vertical, 2015–2022 (USD Billion)
Table 32 Banking, Financial Services, and Insurance: Market Size, By Region, 2015–2022 (USD Billion)
Table 33 Telecom and IT: Cloud Managed Services Market Size, By Region, 2015–2022 (USD Billion)
Table 34 Government: Market Size,  By Region, 2015–2022 (USD Billion)
Table 35 Healthcare: Market Size,  By Region, 2015–2022 (USD Billion)
Table 36 Retail: Market Size, By Region, 2015–2022 (USD Billion)
Table 37 Manufacturing: Market Size,  By Region, 2015–2022 (USD Billion)
Table 38 Energy and Utilities: Market Size, By Region,  2015–2022 (USD Billion)
Table 39 Others: Market Size, By Region, 2015–2022 (USD Billion)
Table 40 Cloud Managed Services Market Size, By Region, 2015–2022 (USD Billion)
Table 41 North America: Cloud Managed Services Market Size, By Service Type,  2015–2022 (USD Billion)
Table 42 North America: Cloud Managed Infrastructure Services Market Size, By Type, 2015–2022 (USD Billion)
Table 43 North America: Cloud Managed Network Services Market Size, By Type,  2015–2022 (USD Billion)
Table 44 North America: Cloud Managed Security Services Market Size, By Type,  2015–2022 (USD Billion)
Table 45 North America: Cloud Managed Data Center Services Market Size, By Type, 2015–2022 (USD Billion)
Table 46 North America: Cloud Managed Communication Services Market Size, By Type, 2015–2022 (USD Billion)
Table 47 North America: Market Size, By Deployment Type, 2015–2022 (USD Billion)
Table 48 North America: Market Size, By Organization Size, 2015–2022 (USD Billion)
Table 49 North America: Market Size, By Industry Vertical, 2015–2022 (USD Billion)
Table 50 Europe: Cloud Managed Services Market Size, By Service Type, 2015–2022 (USD Billion)
Table 51 Europe: Cloud Managed Infrastructure Services Market Size, By Type,  2015–2022 (USD Billion)
Table 52 Europe: Cloud Managed Network Services Market Size, By Type, 2015–2022 (USD Billion)
Table 53 Europe: Cloud Managed Security Services Market Size, By Type, 2015–2022 (USD Billion)
Table 54 Europe: Cloud Managed Data Center Services Market Size, By Type,  2015–2022 (USD Billion)
Table 55 Europe: Cloud Managed Communication Services Market Size, By Type,  2015–2022 (USD Billion)
Table 56 Europe: Market Size, By Deployment Type,  2015–2022 (USD Billion)
Table 57 Europe: Market Size, By Organization Size,  2015–2022 (USD Billion)
Table 58 Europe: Market Size, By Industry Vertical,  2015–2022 (USD Billion)
Table 59 Asia Pacific: Cloud Managed Services Market Size, By Service Type,  2015–2022 (USD Billion)
Table 60 Asia Pacific: Cloud Managed Infrastructure Services Market Size, By Type, 2015–2022 (USD Billion)
Table 61 Asia Pacific: Cloud Managed Network Services Market Size, By Type,  2015–2022 (USD Billion)
Table 62 Asia Pacific: Cloud Managed Security Services Market Size, By Type, 2015–2022 (USD Billion)
Table 63 Asia Pacific: Cloud Managed Data Center Services Market Size, By Type,  2015–2022 (USD Billion)
Table 64 Asia Pacific: Cloud Managed Communication Services Market Size, By Type, 2015–2022 (USD Billion)
Table 65 Asia Pacific: Market Size, By Deployment Type,  2015–2022 (USD Billion)
Table 66 Asia Pacific: Market Size, By Organization Size, 2015–2022 (USD Billion)
Table 67 Asia Pacific: Market Size, By Industry Vertical, 2015–2022 (USD Billion)
Table 68 Middle East and Africa: Cloud Managed Services Market Size, By Service Type, 2015–2022 (USD Billion)
Table 69 Middle East and Africa: Cloud Managed Infrastructure Services Market Size, By Type, 2015–2022 (USD Billion)
Table 70 Middle East and Africa: Cloud Managed Network Services Market Size,  By Type, 2015–2022 (USD Billion)
Table 71 Middle East and Africa: Cloud Managed Security Services Market Size,  By Type, 2015–2022 (USD Billion)
Table 72 Middle East and Africa: Cloud Managed Data Center Services Market Size,  By Type, 2015–2022 (USD Billion)
Table 73 Middle East and Africa: Cloud Managed Communication Services Market Size, By Type, 2015–2022 (USD Billion)
Table 74 Middle East and Africa: Market Size, By Deployment Type, 2015–2022 (USD Billion)
Table 75 Middle East and Africa: Market Size, By Organization Size, 2015–2022 (USD Billion)
Table 76 Middle East and Africa: Market Size, By Industry Vertical, 2015–2022 (USD Billion)
Table 77 Latin America: Cloud Managed Services Market Size, By Service Type,  2015–2022 (USD Billion)
Table 78 Latin America: Cloud Managed Infrastructure Services Market Size, By Type, 2015–2022 (USD Billion)
Table 79 Latin America: Cloud Managed Network Services Market Size, By Type,  2015–2022 (USD Billion)
Table 80 Latin America: Cloud Managed Security Services Market Size, By Type,  2015–2022 (USD Billion)
Table 81 Latin America: Cloud Managed Data Center Services Market Size, By Type, 2015–2022 (USD Billion)
Table 82 Latin America: Cloud Managed Communication Services Market Size, By Type, 2015–2022 (USD Billion)
Table 83 Latin America: Market Size, By Deployment Type, 2015–2022 (USD Billion)
Table 84 Latin America: Market Size, By Organization Size, 2015–2022 (USD Billion)
Table 85 Latin America: Market Size, By Industry Vertical, 2015–2022 (USD Billion)
 
 
List of Figures (61 Figures)
 
Figure 1 Cloud Managed Services Market: Market Segmentation
Figure 2 Regional Scope
Figure 3 Global Cloud Managed Services Market: Research Design
Figure 4 Breakdown of Primary Interviews: By Company Type, Designation,  and Region
Figure 5 Data Triangulation
Figure 6 Market Size Estimation Methodology: Bottom-Up Approach
Figure 7 Market Size Estimation Methodology: Top-Down Approach
Figure 8 Cloud Managed Services Market: Assumptions
Figure 9 Vendor Dive Matrix: Criteria Weightage
Figure 10 Vendor Dive Matrix
Figure 11 Top Three Categories for the Global Cloud Managed Services Market During the Period 2017
Figure 12 North America is Expected to Hold the Largest Share of the Market in 2017
Figure 13 Increased Demand for Infrastructure Services is Expected to Boost the Market in the Forecast Period
Figure 14 Services to Grow at the Highest CAGR During the Forecast Period
Figure 15 BFSI is Expected to Hold the Largest Market Share in 2017
Figure 16 Asia-Pacific Market is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 17 Cloud Managed Services Market: Drivers, Restraints, Opportunities, and Challenges
Figure 18 Strategic Benchmarking: New Product Launches and Partnerships of Top Vendors
Figure 19 Managed Security Services Segment is Gaining Traction Due to the Increase in Cyber Threats
Figure 20 Public Cloud Managed Services is Expected to Show Tremendous Increase in Adoption During the Forecast Period
Figure 21 Small and Medium Enterprises Will Show Tremendous Increase in the Adoption of Cloud Managed Services
Figure 22 Banking, Financial Services, and Insurance Set to Dominate the Cloud Managed Services Market During the Forecast Period
Figure 23 Asia Pacific to Show the Highest Growth in the Market Due to Increasing Cloud Adoption and Business Services
Figure 24 Asia Pacific is Expected to Show Considerable Growth Rate in the Coming Years
Figure 25 North America Market Snapshot
Figure 26 Asia Pacific Market Snapshot
Figure 27 Dive Chart
Figure 28 Cisco Systems, Inc.: Company Snapshot
Figure 29 Cisco Systems: Product Offering Scorecard
Figure 30 Cisco Systems: Business Strategy Scorecard
Figure 31 Ericsson: Company Snapshot
Figure 32 Ericsson: Product Offering Scorecard
Figure 33 Ericsson: Business Strategy Scorecard
Figure 34 IBM Corporation: Company Snapshot
Figure 35 IBM Corporation: Product Offering Scorecard
Figure 36 IBM Corporation: Business Strategy Scorecard
Figure 37 NTT Data Corporation: Company Snapshot
Figure 38 NTT Data Corporation: Product Offering Scorecard
Figure 39 NTT Data Corporation: Business Strategy Scorecard
Figure 40 Huawei Technologies.: Company Snapshot
Figure 41 Huawei Technologies: Product Offering Scorecard
Figure 42 Huawei Technologies: Business Strategy Scorecard
Figure 43 Accenture PLC: Company Snapshot
Figure 44 Accenture PLC: Product Offering Scorecard
Figure 45 Accenture PLC: Business Strategy Scorecard
Figure 46 Nokia Corporation (Alcatel-Lucent Enterprise): Company Snapshot
Figure 47 Nokia Corporation (Alcatel-Lucent Enterprise): Product Offering Scorecard
Figure 48 Nokia Corporation (Alcatel-Lucent Enterprise): Business Strategy Scorecard
Figure 49 Fujitsu Ltd.: Company Snapshot
Figure 50 Fujitsu: Product Offering Scorecard
Figure 51 Fujitsu: Business Strategy Scorecard
Figure 52 DXC Technology: Product Offering Scorecard
Figure 53 DXC Technology: Business Strategy Scorecard
Figure 54 NEC Corporation: Company Snapshot
Figure 55 NEC Corporation: Product Offering Scorecard
Figure 56 NEC Corporation: Business Strategy Scorecard
Figure 57 Centurylink : Company Snapshot
Figure 58 Centurylink: Product Offering Scorecard
Figure 59 Centurylink: Business Strategy Scorecard
Figure 60 Civica: Product Offering Scorecard
Figure 61 Civica: Business Strategy Scorecard

The cloud managed services market is expected to grow from USD 27.15 Billion in 2017 to USD 53.78 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 14.6%. Increasing ICT spending and growing trend of big data analytics, increasing adoption of managed services by SMEs, and need for companies to focus on their core business are the major drivers of this market.

Mobility services and security services are the fastest growing managed service in the market. The proliferation of mobile devices and trend of BYOD in various organizations has made companies to seek for services that could help them to manage these devices along with the data generated through it, for better utilization and security need. Moreover, IoT adoption and big data trend has led to sudden requirement of data security due to which, managed security services is witnessing high demand among customers. Moreover, these requirements have led SMEs to opt and demand for managed services and focus on their core business to incur better results.

Private cloud-based deployments is gaining high traction in the market as it provides better control of the data and can reduce the risk of loss of data and issues connected to the regulatory compliance. Moreover, due its seamless benefits such as organization control, cost and energy efficiency, and improved reliability, companies prefer to deploy private cloud in their environment.

Large enterprises had the highest market size, whereas, SMEs are expected to gain high traction of cloud managed service during the forecast period of 2017-2022. Unlike large enterprises, SMEs have resource crunch and need to manage their processes with limited budget. Managed services help them to outsource their less important activities and focus on their core business requirements. Furthermore, security and compliance, reduction in downtime are some of the major benefits small enterprises are experiencing through the adoption of managed services.

Cloud Managed Services Market

Asia Pacific (APAC) is expected to grow at the highest CAGR from 2017 to 2022 in the cloud managed services market. With the companies rapidly outsourcing IT related functions in the APAC region, cloud and managed service model has become of utmost importance to them for better productivity and cost-effectiveness. This has increased the demand for managed services. Moreover, North America being the most advanced region in cloud technology has higher adoption of managed services due to the increased organizational and communication activities.

Concerns for privacy and security and inefficiency of cloud model facing issues of connectivity and high bandwidth cost are some of the restraints of the market. The pace with which companies are embracing IT technology, solutions, and platform, it is important for the companies to opt for better privacy and security services and thus companies are relying on managed service. However, companies feel the deployment of cloud managed services would result in the loss of control over their infrastructure. Thus, this factor remains a constraint for organizations before deploying these services.

However, due to the increasing cloud adoption, many companies are able to provide huge number of managed service with ease to cater to the customer requirements. The major vendors in the cloud managed services market include IBM Corporation (US), Cisco Systems (US), Ericsson (Sweden), Accenture PLC (Republic of Ireland), NTT Data Corporation (Japan), Fujitsu Ltd. (Japan), Huawei Technologies(China), and NEC Corporation(Japan). These players adopted various strategies such as new product development, mergers and acquisitions, collaboration, and partnerships to serve the cloud managed services market. With the help of cloud and big data technologies, the current dominant market players in cloud managed services are able to innovate a number of services to cater to demands of the customers. Improving economy and internet use across all the regions is giving chance to these companies to serve customers with better services.

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