Cloud managed services provides resources to the service providers that enable them to enhance their in-house functionalities. These services are extensively being utilized for managing IT infrastructure that formulates an alliance with a third-party service provider with the help of cloud computing technology.
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On the basis of organization size, the global cloud managed service market is divided into large enterprises and small and medium enterprises. Among the two categories, the small and medium enterprises category is expected to witness faster growth during the forecast period.
Global cloud managed service market has been driven by several key factors, predominantly increasing adoption of internet of things devices and increasing adoption of cloud services among various small and medium enterprises in both developed as well as developing economies.
Some of the key players operating in the global cloud managed service market are Accenture, Vodafone, Huawei, Alcatel-Lucent S.A., Fujitsu Ltd., Ericsson, IBM Corporation, Cisco Systems, Inc., and NEC Corporation.
Source: VynZ Research