Global cloud managed services to shine through to 2025

The global cloud managed services market size is expected to reach US$82.51 billion by 2025, says Grand View Research. 

Growth is fuelled by enterprises adopting cloud managed services for business operations. Cloud managed services for business, security, networking, data centres, and mobility help enterprises to reduce IT and operations costs and enhance productivity, Grand View said.

Challenges over the forecast period (2018-2025) include data privacy, security, and poor connectivity.

The regional markets of Asia Pacific and the Middle East and Africa will also see significant growth in cloud adoption, the consultancy said. In Asia Pacific, increased investment in cloud technologies by China and India will drive regional growth.

Study highlights include:

- Increasing mobile device adoption will drive the growth rate of mobility services segment

- High security and increased service level will drive private cloud deployment, with an expected CAGR of 16% during the forecast period

- Customisation along with reduction in IT costs will drive adoption in small and medium enterprises

- Increasing levels of data security will drive the growth of healthcare segment in the market

- Major players include Cisco Systems, IBM, Verizon Communications, Ericsson, and NTT Data 

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Grand View's cloud managed services research (April 2018)