Managed Cloud As A Service Market – Expecting An Outstanding Growth by 2029

Rise in adoption of cloud technology due to COVID-19 outbreak, increasing spending on cloud technology in developing economies, and growing IT spending drives the growth of the managed cloud as a service market.

However, issues related to data security, lack of efficient cloud managed service, and lack of supporting IT infrastructure restrains the growth of the market. Furthermore, growing adoption of managed cloud as a service among small and medium size businesses is opportunistic for the market. 

Managed cloud as a service provides scalability and reliability to the organizations due to which growing demand for scalability and reliability will further increase the demand for these services.

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Also, it enable organizations in scaling-up and down their operations by offering custom-made offerings to the available services which further fuels its adoption. Moreover, other benefits of these services include enhanced IT functionality, customized IT services, and others. 

The adoption of cloud technology is increasing in the healthcare industry which is boosting the demand for managed cloud as a service. A significant amount of data has been generated due to healthcare operations and research-related activities in the recent past.

The management of this data requires expertise in cloud due to which healthcare service providers are taking help of cloud managed service providers as it helps them to focus on their core processes.

Impact of COVID-19 on Managed Cloud As A Service Market

  • Solution providers see the potential for greater opportunities in cloud, security, managed services and other solutions needed in the transformed business landscape.
  • As businesses shutter their brick-and-mortar operations and, where they can, transition to a remote workforce, it is clear how important the cloud is for continuity of operations. The organization’s focus should be on making the information security a part of the overall design. 
  • Managed cloud as a service provide business continuity and agility, which are extremely valuable for companies in periods of uncertainty and crisis. Some have been very agile in adapting and launching new managed cloud services to respond to their customers’ needs.

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Key Market Players

  • Fujistu Ltd.
  • IBM Corp.
  • Cisco Systems Corp.
  • HP development company LP
  • AT&T Inc.
  • NTT data corp.
  • Verizon communications Inc.
  • Huawei Technologies.
  • NEC Corp.
  • DXC Technology Inc.

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