Cloud management includes the software and technologies designed for operating and monitoring applications, data and services residing in the cloud. Cloud management tools assure that the cloud computing-based assets are working optimally and properly interacting with users and other services. Cloud managed services enable organizations to augment competencies that they lack or to replace operations or processes that incurred huge recurring costs. These services optimize recurring in-house IT costs, transform IT systems and automate business processes allowing enterprises to achieve their business objectives. Effective management continues to be the key priority for most organizations as the cloud adoption continues to rise. To address this challenge, organizations choose different ways to manage their cloud infrastructure. Some manage it on their own, while some bring in a Cloud MSP to ease their immediate complexities, while others choose to have an MSP who can handle broader mission with clear vision on managing hybrid environments and resources. With the help of round-the-clock management and an efficient network infrastructure, cloud managed services gives strong infrastructure support. They can monitor, scan, report, update patches, integrate and align network operations with the core business objectives.
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MSPs manage all applications and services at a centralized data center. Thus, there will be a lot of potential for remote data access, improved productivity, efficient resource exploitation, effective storage and backup, among other advantages. Under effective Service Level Agreements (SLA), Cloud MSPs ensure better control across service levels and help your business gain service continuity. Longer association with MSPs offers better results. Cloud managed services assure data safety and early access through timely backups and faster recovery across all cloud services and applications. Thus, the core objective of business continuity is achieved. In case of cloud managed services, the responsibility lies with service providers in ensuring quick response times in case of any issue. This can take more time if done locally. The Global Cloud Managed Services market is expected to grow from $25.49 billion in 2016 to reach $69.87 billion by 2023 with a CAGR of 15.5%.
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Cloud technologies are one of the mandatory implementations for growing organizations. Cloud computing improves the efficiency of the infrastructure by dropping TCO by offering business agility, quicker innovations, and mobility. With the help of cloud managed services such as mobility services, network services, and security services, organizations can handle their mobile devices, manage network security, and can also focus on providing better services and gain customer loyalty. Because of the increasing trend in cloud managed services, the industry giants across the world are strategically expanding by partnering with or acquiring companies, which can provide the right solutions to overcome the challenges of cloud managed services. For example, the Asia Pacific, with its commercially diverse region has some of the advanced economies in the world such as Australia, Hong Kong, and Singapore with China and India as the fastest growing economy. The organizations in this region are witnessing a rise in new ways of working and an increase in cloud computing trends. This leads to increase in demand for cloud managed services to help organizations manage the changes.
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North America is leading the market for cloud managed service market due to high adoption of digital technologies among small and medium business. The adoption of cloud application and cloud platform is also impacting the market for cloud managed services in a positive manner. Companies such as IBM is also working towards the development of cloud managed service platforms with the partnerships and acquisitions in this market to enhance market opportunities. North America’s financial strength helps it to invest profoundly in advanced solutions and technologies, which has provided organizations in the region a competitive edge in the market. Moreover, the region has the presence of several key cloud managed services vendors, such as IBM Corporation (US), CenturyLink Inc., (US) and Cisco Systems Inc. (US), among others. The increasing deployment of big data solutions by major IT enterprises, such as Google and Microsoft, to enhance the efficiency and streamline their business operations is driving the adoption for the “Cloud Managed Services market” in this region. The increased sale of smart phones and penetration of mobile device has resulted in the high adoption of BYOD in this region, which is also driving companies to adopt cloud managed services. With many end-user industries, such as healthcare, implementing IoT to enable better operations, the usage of the cloud is increasing, which, in turn, promotes the growth of this market in North America.
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