HOME Research Insight New Product Developments to Achieve Growth in the Cloud Managed Services Market.

New Product Developments to Achieve Growth in the Cloud Managed Services Market.

Cloud managed services show an increasing trend in the adoption, by companies across the globe in order to reduce the rising costs and to standardize the business processes across the organization. Thus, due to the increase in digitization and mobility among enterprises, the cloud managed services providers are increasing their efforts to boost their revenues. Strategic acquisition is an important strategy adopted by the market players providing companies with greater capital and resources, helping them invest more in Research and Development (R&D) to develop new services and gain traction in the cloud managed services market. MarketsandMarkets forecasts the cloud managed services market size to grow from USD 27.15 Billion in 2017 to USD 53.78 Billion by 2022, at a CAGR of 14.6%.

Cloud managed services include managed business, network, security, data center, and mobility services. There are several renowned vendors in the cloud managed services market, such as Cisco Systems (US), Ericsson (Sweden), Huawei Technologies (China), IBM Corporation (US), and NTT Data Corporation (Japan) are some of the top key players in the cloud managed services market. These players have adopted various strategies, such as partnerships, collaborations, agreements, mergers and acquisitions, and new product developments to achieve growth in the cloud managed services market.

Cisco Systems, with great prominence in the managed services market space around the globe, is aspiring to become the top market provider of cloud managed services specializing in business and network services. The company provides disaster recovery as a service, unified workspace services, managed services for data center, and managed services for security as well. In March 2016, Cisco acquired Jasper enhancing its cloud-based Internet of Things (IoT) service platform enabling its customers to rapidly and cost-effectively launch, manage, and monetize IoT services. In October 2013, Cisco acquired Sourcefire, a prominent provider of intelligent cyber security solutions and services. This acquisition helped Cisco to provide more comprehensive advanced threat protection solutions and services.

IBM Corporation is another top market player catering the cloud managed services market. The company provides workspace services, business resiliency services, the network managed services, mobility services, and security services. It has a huge focus on strategic acquisition and expansion strategies to maintain its leadership in the market. In March 2016, IBM announced its Bluemix Garage in Nice, France assisting European organizations and industries in the development and design of next-generation apps on IBM Cloud. In the same month, IBM announced its plan to acquire Bluewolf Group LLC, a prominent company in cloud consulting and implementation services.

Related 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

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