Cloud Managed Services Market

A type of IT outsourcing, cloud managed services involve an organization outsourcing the management of its cloud computing environment to a third-party provider. The provider is in charge of the day-to-day operations and maintenance of the cloud infrastructure and can provide a variety of services, including storage, networking, security, and compliance.

The market size for cloud managed services is projected to increase at a compound annual growth rate (CAGR) of XX% from USD XX billion in 2018 to USD XX billion by 2031. The market for cloud-managed services is mostly driven by the need for better operational efficiency, the lower total cost of ownership (TCO), and faster time-to-market delivery.

As a growing number of businesses migrate to the cloud, the market for cloud-managed services in the United States is expanding rapidly. Demand for cloud-managed services is expected to grow over the next few years as more businesses move their computing needs to the cloud.

Amazon Web Services, Inc., IBM Corporation, Microsoft Corporation, Rackspace Hosting, Inc., Fujitsu Limited, Google Inc., Hewlett-Packard Enterprise Company, NTT Communications Corporation, Virtustream (an EMC federation company), and Verizon Communications Inc. are some of the major market players.