Cloud Managed Services Global Forecast – A ‘USD 116 Billion’ Market By 2025!
One thing that always has a growth path in the technology industry is ‘Cloud adoption’.
The growing inclination to digital transformation is giving a due rise to cloud adoption, taking it to further levels.
But the rising cloud adoption is also throwing a challenge to organizations with regard to handling cloud abilities. This is contributing to the demand for ‘Cloud Managed Services (CMS)’.
The global CMS market is poised to grow from USD 62.4 billion in 2020 to USD 116.2 billion by 2025. The CMS market is expected to progress at a CAGR of 13 percent over the forecast period (2020-25).
A strategic shift in spending preference from capital costs to operational costs is driving the CMS demand.
By doing so, organizations feel they would get to focus more on core business activities and overall productivity. Digital initiatives and growing partnerships between global and local players will add to the CMS demand.
Moreover, increasing investment in the startup ecosystem is another key driving factor, offering a boost to tailored offerings in CMS.
To meet the emerging demands, market vendors are more likely to focus on advanced CMS capabilities, AI, ML, and analytics to fight the market competition.
By Segment, managed communication and collaboration services are likely to see more demand within the global CMS market. Given the COVID-19 crisis, most organizations have preferred remote working culture and encouraging the same, given the reported rise in employee productivity and focus.
[Also Read: COVID-19 Crisis: Cloud Migration on Demand!]
Moreover, ease in collaboration for easy writing, editing, access permissions, and collaboration tools have proven to be very successful in driving productivity.
- By Size of Business, Small and Medium Enterprises (SMEs) are likely to see higher adoption of CMS for reduced operational costs and streamlining business processes.
- By Region, Asia-Pacific is poised to show the highest growth rate for CMS adoption, while North America is expected to hold the largest market share.
More than any other past scenarios, the COVID-19 crisis unleased the cloud potential in driving business continuity, making it need of the hour and the most crucial choice of the future. Contact Us Today!Published on