The global cloud managed services market size is expected to reach USD 82.51 billion by 2025

LONDON, May 29, 2018 /PRNewswire/ -- Cloud Managed Services Market Size, Share & Trend Analysis Report By Service Type (Business, Network), By Deployment, By End-user, By Vertical, By Region, And Segment Forecasts, 2018 - 2025

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The global cloud managed services market size is expected to reach USD 82.51 billion by 2025, according to a study conducted by Grand View Research, Inc. The focus of enterprises on primary business operations is resulting into higher cloud managed services adoption. Business services, security services, network services, data center services, and mobility services are major categories in cloud managed services market. Implementation of these services will help enterprises to reduce IT and operations costs and will also enhance productivity of those enterprises.

Availability of developed IT infrastructure will drive the managed cloud services adoption in North America.The regional markets of APAC and Middle East & Africa will witness significant growth.

This growth will be a result of increased cloud adoption and increase in significant investments from prominent players.

The market will observe some restraints as well, such as data privacy & security, and poor connectivity.These factors are expected to hamper the market growth during the forecast period.

Data security will be a major restraining factor as it will affect cloud adoption and cloud managed services market as well. It will lead service providers to focus more on including security features to acquire customers.

Further key findings from the study suggest:
• Increasing mobile device adoption will drive the growth rate of mobility services segment
• High security and increased service level will drive private cloud deployment with an expected CAGR of 16% during the forecasted period
• Customization along with reduction in IT costs will drive adoption in small and medium enterprises
• Increasing levels of data security will drive the growth of healthcare segment in the market
• Increased investment in cloud technologies by countries such as China and India will drive the Asia Pacific regional market growth rate
• The major industry players include Cisco Systems Inc., IBM, Verizon Communications Inc., Ericsson, and NTT Data Corporation

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