The Cloud Managed Services Market is projected to reach $247.5 billion by 2030, at a CAGR of 14.2% from 2023 to 2030. The growth of the cloud managed services market is driven by the technological advances supporting the adoption of cloud services, the growing need for cloud services in the BFSI sector, and the increasing importance of managed cloud services in the healthcare sector. Moreover, the increasing focus on customized and managed cloud services, and integration of cloud technologies with in-house apps provide significant opportunities in the global cloud managed services market. However, the high cost of cloud managed services is a serious restraint to the growth of this market.
Here are the top 10 companies operating in Cloud Managed Services Market –
Microsoft Corporation (U.S.)
Founded in 1975 and headquartered in Redmond, Washington, U.S., Microsoft Corporation is a leading provider of cloud managed services. The company provides Microsoft Azure managed services and applications to easily build and deliver fully managed, turnkey applications to cloud managed services customers. Furthermore, the company provides comprehensive managed security services to help manage onboarding, advisory services, managed detection and response (MXDR), and recovery. It also offers cloud managed detection and response services, threat-hunting services, dedicated delivery manager, and cybersecurity advisory services. Microsoft operates in the market through three business segments, namely, Productivity and Business Processes; Intelligent Cloud; and More Personal Computing.
Google LLC (U.S.)
Incorporated in 1998 and headquartered in California, U.S., Google LLC is a leading provider of cloud managed services & solutions. The company provides a full life cycle of cloud services, including consultation, migration, modernization, and support services. Its cloud platform provides IaaS and PaaS, enabling enterprises to build and run applications on Google’s Cloud infrastructure where users can benefit from the performance, scale, reliability, ease of use, and a pay-as-you-go cost model. Google also offers cloud managed solutions to offer authentication, protection against cyber-attacks, and to ensure compliance. It offers data backup and recovery solutions, loss prevention, storage management, server management and provisioning as well. The company operates in the market through three business segments, namely, Google Services, Google Cloud, and Other bets.
International Business Machines Corporation (U.S.)
Founded in 1911 and headquartered in New York, U.S., IBM is a leading cloud platform and cognitive solutions company. The company provides managed hardware, operating system, database and ERP applications in a single customizable set of services. The company provides managed infrastructure, managed cybersecurity, managed network security, managed cybersecurity, and cloud application services. It operates in the market through five business segments, namely Software, Consulting, Infrastructure, Financing, and Other.
IBM’s cloud managed service is a fully managed IT Infrastructure Library (ITIL)-compliant solution for mission-critical workloads. The company’s cloud managed services portfolio comprises managed cloud managed services, endpoint security management services, security & consulting services, application threat modeling services, and DevSecOps services.
Oracle Corporation (U.S.)
Founded in 1977 and headquartered in California, U.S., Oracle is a leading provider of cloud managed services & solutions. The company’s Oracle Cloud Infrastructure provides industry-leading solutions for infrastructure, databases, middleware, and applications. Further, it provides oracle vulnerability and threat prevention, oracle database security, and oracle identity and access management services. Oracle’s managed integration cloud service is designed for the company’s integration cloud service customers. The company operates through three business segments, namely, Cloud and license, Hardware, and Services.
Amazon Web Services, Inc. (a subsidiary of Amazon.com, Inc.) (U.S.)
Founded in 1994 and headquartered in Washington, U.S., Amazon Web Services, Inc. is a global provider of cloud managed services & solutions. The company provides AWS Managed Services (AMS) to help customers adopt AWS at scale and operate more efficiently and securely. It also leverages standard AWS services and offers guidance and execution of operational best practices with specialized automation, skills, and experience contextual to the business environment and applications.
By implementing the next-gen AWS cloud managed services, business operations can be centralized on the cloud platform and avoid security risks. Furthermore, AWS Managed Services help automate common processes such as changing requests, monitoring, patch management, security, and backup services, and provide full-lifecycle services to provision, run, and support business infrastructure.
Meticulous Research in its latest publication on Cloud Managed Services Market has predicted the growth of 14.2% during the forecast year 2023-2030
Telefonaktiebolaget LM Ericsson (Sweden)
Founded in 1876 and headquartered in Stockholm, Sweden, Ericsson is a global provider of cloud managed services. Ericsson Managed Services are designed to handle the increased complexity of network and IT engineering, operations and optimization through a delivery model that uses AI, automation, data analytics and a wealth of processes, tools and human expertise in the telecom domain. The company provides cloud managed services such as cloud and IT service operations, automated business service management, cloud-native application development, and SD-WAN services. The company operates through four business segments, namely, Networks, Digital Services, Managed Services, and Emerging Business and Other. The Managed Services segment provides cloud managed services & solutions.
Accenture plc (Ireland)
Incorporated in 2009 and headquartered in Dublin, Ireland, Accenture is a global leader in end-to-end cloud managed services. The company provides the full spectrum of infrastructure managed services, including managing, hosting, migrating and evolving your infrastructure on-premises and in the cloud. The company provides managed security services on AWS, such as AWS infrastructure vulnerability scanning, AWS resource inventory visibility, AWS security best practices monitoring, AWS compliance monitoring, 24/7 incident alerting and response, distributed denial of service (DDOS) mitigation, managed intrusion detection/prevention system, and managed detection & response for AWS endpoints. Accenture operates in the market through five business segments, namely, Products; Communications, Media & Technology; Financial Services; Health & Public Service; and Resources.
NEC Corporation (Japan)
Founded in 1899 and headquartered in Tokyo, Japan, NEC Corporation is a global provider of cloud managed services & solutions. The company is one of the largest cloud computing solutions providers, and it aims to create and provide cloud solutions and services that contribute not only to the field of IT and networks but also to societal, individual and corporate activities. NEC’s comprehensive cloud solutions range from highly adaptable applications to platforms and data centers. The company provides services such as backup, disaster recovery, security, monitoring, support, migration, and storage services. The company operates through six business segments, namely, Public Solutions Business, Public Infrastructure Business, Enterprise Business, Network Services Business, Global Business, and Other.
Tata Consultancy Services Limited (India)
Founded in 1968 and headquartered in Maharashtra, India, Tata Consultancy is a global provider of cloud managed services & solutions. The company provides cloud managed services such as identity and access management, enterprise vulnerability management, governance, risk and compliance, managed security and network services, and data center and application managed services. TCS cyber security managed services implement, maintain, monitor and enhance enterprises’ cyber security posture. Further, it provides cloud managed services for cloud assessment, business case preparation, roadmap creation, ERP consolidation and migration, application and data modernization and cloud migration. TCS operates through six business segments, namely, Banking, Financial Services and Insurance; Manufacturing; Retail and Consumer Business; Communication, Media and Technology; Life Sciences and Healthcare; and Others.
Wipro Limited (India)
Founded in 1945 and headquartered in Bengaluru, Karnataka, India. Wipro Limited is a global provider of cloud managed services& solutions. The company provides cloud consulting, security, network managed, and managed mobility services. It also offers consulting, planning and deployment, service migration, engineering services, test environments, platform validation, unified NOC services and L1 to L4 support for network management. Wipro operates through three business segments, namely, IT Services, IT Products and India State Run Enterprises Services. The IT Services segment provides cloud managed services. The company’s cloud managed services focus on managing hybrid and public cloud environments. It enables customers to consume services from public cloud involving IaaS and PaaS services alongside the cloud native services, DevOps, microservices, containers, and data protection services. These services also provide cloud experts that deliver 24×7 ongoing management of cloud services.
Authoritative Research on the Cloud Managed Services Market – Global Opportunity Analysis and Industry Forecast (2023-2030)
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