ReportsnReports.com adds Global Cloud-based Managed Services Market 2016-2020 latest research report, the analysts forecast global cloud-based managed service market to grow at a CAGR of 19.7% during the period 2016-2020. Enterprises tend to choose managed services over traditional services due to their added advantages. Managed services offer benefits such as risk sharing and reduced IT cost for organizations. Outsourcing these solutions allows enterprises to concentrate more on their core competencies, which enables enterprises to generate more revenue and increase operational efficiencies. Also, outsourcing helps reduce CAPEX for enterprises and frees up their internal resources for core business functions.
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According to the cloud-based managed service market report, an organization's core functions are that they provide value to the company and its customers. Non-core functions include secondary functions that can be outsourced by organizations. Both core and non-core functions help an organization gain a competitive advantage. One of the major strategies organizations implement to gain a competitive advantage is the outsourcing of non-core businesses. This helps them reduce their operational costs and gain high productivity. Outsourcing non-core functions to managed service providers allows companies to focus more on their core competencies.
Segmentation by application and analysis of the cloud-based managed services market
- Cloud-based managed security services
- Cloud-based managed mobility services
- Cloud-based managed hosting services
- Cloud-based managed network services
The global cloud-based managed security services segment dominates this market and is expected to grow at a CAGR of over 19% by the end of the forecast period. With a rise in the use of mobile data security services, cloud-based security services have become an inseparable part of growing organizations. Furthermore, with the increasing utilization of a large number of SaaS applications and other cloud-based services, numerous organizations have been encouraged to adopt cloud-based managed security services.
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The Americas currently dominate the global cloud-based managed services market and is anticipated to retain its hold over the market until 2020 owing to the rising adoption of cloud-based managed mobility services to boost workforce mobility. In addition, factors such as the increased adoption of cloud-based solutions in the financial sector to improve productivity and customer experience will also result in the strong growth of this market in the Americas during the estimated period.
The global cloud-based managed services market is highly fragmented due the presence of many large and niche players. The market is also characterized by the presence of many region-specific players that have limited geographical reach. To survive in this market, some large vendors acquire regional companies as it will help them to boost their revenue generating capacity.
Key players in the global cloud-based managed services market: Cisco Systems Inc., HP Co., IBM Corp., and NTT Data Corp.
Other Prominent Vendors in the market are: Civica, Aricent, Atos, BT Global Services, CenturyLink, Digital Realty, Equinix, Expedient, HOSTING, Huawei, Intermec, Level 3 Communications, Lockheed Martin, Microsoft, Netmagic, Rackspace, Stratix, Tangoe, TCS, Tech Mahindra, TelecityGroup, Telefonica, Telehouse, Unisys, Verizon, Vox Mobile, WidePoint, Wipro, and Zayo Group.
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