Cloud Managed Services Market

Key players adopted various growth strategies, including partnerships, agreements, collaborations, and product launches/enhancements, to expand their presence in the Cloud Managed Services Market

The global Cloud Managed Services (CMS) market size is projected to grow from USD 62.4 billion in 2020 to USD 116.2 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 13.3% during the forecast period. The major factor driving the growth of the market is the desire of companies to cut capital costs and transfer into operational costs. Organizations can avoid huge infrastructural capital investments by adopting CMS . The CMS also helps organizations to let their IT workforce to focus on main business functions and improve productivity.

Major CMS vendors include Cisco Systems Inc (US), Ericsson (Sweden), International Business Machines Corporation (US), Amazon Web Services (US), NTT DATA Corporation (Japan), Fujitsu Limited (Japan), Infosys Limited (India), Accenture PLC (Ireland), Hewlett Packard Enterprise Company (US), NEC Corporation (Japan), Alcatel Lucent (Finland), Rackspace (US), TCS (India), Wipro (India), Datacom (New Zealand). Huawei (China), Cloudticity (US), Connectria (US), DLT Solutions (US), Sirus Computer Solutions (US), Softchoice Corporation (Canada), and Cloudnexa (US)

These market players have adopted various growth strategies, including partnerships, agreements, collaborations, and product launches/enhancements, to expand their presence in the CMS market. Partnerships, agreements, and collaborations have been the most adopted strategies by major players from 2017 to 2020, which helped companies innovate their offerings and increase their customer base.

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Cisco (US) is one of the leading players in the CMS market. The company manufactures and sells hardware components, software and telecommunication equipment, and other technology products and services. It operates in various business segments, including infrastructure platforms, applications, services, security, and others. It provides CMS to customers worldwide. Cisco’s managed services include managed networks, managed data centers, managed collaboration, and managed security. Cisco Meraki is a cloud-managed product for Wi-Fi, routing, and security.

Cisco caters to different verticals, such as education, energy, financial services, government, healthcare, hospitality, manufacturing, professional services, real estate, retail, service providers, sports and entertainment, technology, telecommunication, and transportation. It also caters to customers in the Middle East North America, Africa, Asia Pacific (APAC), Europe, and Latin America. As of 2019, the company had 74,900 employees.

Infosys (India) is another leading vendor in the CMS market. The company provides business consulting, information technology, and outsourcing services. It also provides CMS to customers across the globe. The unique proposition of its cloud-based services is that they are artificial intelligence-driven self-healing processes and automation tools that meet the requirements of enterprise-grade workloads with ease. Infosys’ CMS spans across provisioning, operations, monitoring, security, performance management, support, and the sustenance of private, public, and hybrid infrastructure. The company caters to various verticals, including aerospace and defense, agriculture, automotive, communication services, consumer packed goods, education, financial services, healthcare, high technology, industrial manufacturing, information services and publishing, insurance, life sciences, logistics and distribution, media and entertainment, mining, oil and gas, professional services, public sector, retail, utilities, travel, and hospitality.

Related Reports:

Cloud Managed Services Market by Service Type (Managed Business, Managed Network, Managed Security, Managed Infrastructure, and Managed Mobility), Deployment Type, Organization Size, Industry Vertical, and Region - Global Forecast to 2025

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Report Code
TC 3428
RI Published ON
6/12/2020
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