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Cloud Managed Services Market Share

Report ID: GMI10538
Published Date: Jul 2024
Report Format: PDF

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Cloud Managed Services Market Share

IBM Corporation, Cisco Systems, Inc. and Accenture are leading companies in the market, collectively commanding a share of 26%. These companies focus on offering a wide range of managed services, including infrastructure management, security, compliance, and application management, to cater to diverse client needs. They invest heavily in R&D to innovate and enhance their service offerings, ensuring to are at the forefront of technology advancements such as AI, machine learning, and automation. Further, partnerships and acquisitions are key components of their strategy, allowing them to expand their capabilities and market reach. Furthermore, these leaders emphasize providing customized solutions and high-quality customer support to ensure client satisfaction and retention in a competitive market.

Cloud Managed Services Market Companies

Major players operating in the market are:

Accenture PLC
AT&T Inc.
Cisco Systems, Inc.
Fujitsu Limited
IBM Corporation
NTT Data Corporation
Rackspace Technology, Inc.
Tata Consultancy Services Limited (TCS)
Verizon Communications Inc.
Wipro Limited

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of cloud managed services reached USD 107.1 billion in 2023 and is set to register 14% CAGR from 2024 to 2032, owing to the increasing integration of AI, machine learning, and automation within cloud services worldwide.

Cloud managed services industry from the public cloud segment held 52% share in 2023, due to its cost-effectiveness, scalability, and flexibility.

North America market accounted for 43% share in 2023, attributed to the presence of a large number of established cloud service providers offering advanced technologies and solutions in the region.

AT&T Inc., Cisco Systems, Inc., Fujitsu Limited, IBM Corporation, NTT Data Corporation, Rackspace Technology, Inc., Tata Consultancy Services Limited (TCS), Verizon Communications Inc., and Wipro Limited, are some of the major cloud managed services companies worldwide.