$116.2 Billion Worldwide Cloud Managed Services Industry to 2025 - Featuring Cisco, Ericsson & IBM Among Others
DUBLIN, July 2, 2020 /PRNewswire/ -- The "Cloud Managed Services Market by Service Type (Managed Business, Managed Network, Managed Security, Managed Infrastructure, and Managed Mobility), Deployment Type, Organization Size, Industry Vertical, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global CMS market is estimated to be USD 62,350 million in 2020 and is projected to reach USD 1,16,210 million by 2025, at a CAGR of 13.3% during the forecast period.
The major factor driving the growth of the market is the desire of companies to cut capital costs and transfer into operational costs. Organizations can avoid huge infrastructural capital investments by adopting CMS. The CMS also helps organizations to let their IT workforce to focus on main business functions and improve productivity.
The retail and consumer goods industry vertical is one of the fastest-growing industry verticals. Due to the rising consumer purchasing power, the industry vertical is attracting major companies around the world. The growing trends in mobile data consumption and the increasing usage of smartphones and tablets in countries have paved the way for the high demand for mobility solutions in the retail industry vertical. Security services have also become essential for retail organizations to protect their IT environments and customer-sensitive data. Hence, there are ample opportunities for CMS providers to cater to large enterprises as well as small businesses. The retail and consumer goods industry vertical deals with a large amount of customer data, which helps provide personalized experiences to customers. To cater to vast business requirements, organizations adopt CMS so that they can focus on their core business functions.
Europe is anticipated to be the second-largest region in the global CMS market due to the GDPR compliance. With the technological advancements in the Asia Pacific(APAC), several factors are expected to drive the impressive growth of the region. The factors include the increasing ICT spending, growing trend of big data and analytics, and rising need to focus more on main business activities.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
6 Effect of Covid-19
7 Cloud Managed Services Market, by Service Type
8 Cloud Managed Services Market, by Deployment Type
9 Cloud Managed Services Market, by Organization Size
11 Cloud Managed Services Market, by Region
12 Competitive Landscape
13 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/6jutrc
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