United States Cloud Managed Services Market Size By Enterprise Size (Large Enterprises, SMEs), By End–User (BFSI, IT & Telecommunication, Manufacturing, Retail), And Forecast

United States Cloud Managed Services Market Size And Forecast

United States Cloud Managed Services Market size was valued at USD 23.16 Million in 2022 and is projected to reach USD 50.67 Million by 2030, at a CAGR of 11.01% from 2023 to 2030.

The growing need to manage critical business applications & IT systems is expected to boost the United States Cloud Managed Services Market. The United States Cloud Managed Services Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

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United States Cloud Managed Services Market Definition

Cloud Managed Services are responsibilities and tasks associated with the cloud delegated to a third-party service provider. These responsibilities might involve managing, monitoring over, and improving a company’s cloud applications and infrastructure. Managed service providers (MSPs) for the cloud handle the operational details of the cloud environment daily, allowing enterprises to concentrate on their core skills and long-term goals. This component includes managing cloud resources, including virtual computers, storage, networking, and databases.

Working with a team of technical specialists is one of the most significant advantages of cloud-managed services. These service providers possess strong knowledge of numerous cloud platforms, tools, and technologies. Through their experience, organizations can navigate complicated cloud environments and optimize their infrastructure for performance, security, and affordability. Assuring seamless operation of applications and services while minimizing risks and downtime is the goal of cloud-managed service providers, who provide continuous support, maintenance, and monitoring.

Furthermore, cloud-managed service providers play a significant part in enhancing cloud security by implementing best practices, installing strong security measures, and monitoring possible risks. They assist in adherence to compliance, ensuring the company complies with rules and standards for data protection that are particular to the industry. Cloud-managed services provide a higher level of security than many businesses can accomplish on their own to their capabilities for continuous monitoring and incident response. Additionally, Businesses may simplify their operations, increase productivity, and stay ahead in an increasingly highly competitive digital world by collaborating with a reputable cloud-managed service provider.

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United States Cloud Managed Services Market Overview

While companies and financial firms wade through the unpredictable economic and regulatory landscape of today, the pressure has been greater on the risk and compliance model. The adoption of managed services is increasing with companies seeking to improve their organization, operation, and security by providing more strategic responses.

Managed cloud services can result in significant economic savings, including cost savings and reduced capital expenditures for acquiring hosting infrastructure. As a result of cloud-managed services, organizations reduce capital expenditures by minimizing the cost of investing in physical IT resources. Businesses can cut operating costs by properly deploying cloud services, whether private, public, hybrid, or community clouds. Cloud-managed services can also provide a high return on investment, automatically increasing their businesses’ agility. In January 2022, according to FCW (The Business Federal Technology), more than 44% of companies believed that cloud-managed services could help them get a quick return on investment. As a result of such trends, the cloud-managed services market is expected to grow rapidly in the coming years.

As enterprises are formulating plans to fulfill their IT and network needs, managed cloud services will be at the forefront among all technologies. Organizations are running their IT applications on cloud servers including accounting, finance, customer relationship management, and other applications. The rapid adoption of cloud solutions to deploy and manage business operations is changing the state of cloud adoption in the U.S.. For instance, Betabrand, a clothing company headquartered in the US, migrated its operations to Google Cloud infrastructure Kubernetes in anticipation of Black Friday in 2017. With this migration, the company was able to manage peak loads with no issues. Thus, with businesses moving towards cloud infrastructure, the adoption of cloud-managed services is expected to witness a huge surge in demand.

The lack of IT and cybersecurity practitioners is a leading factor limiting the growth of this market. This shortcoming will prohibit organizations from fulfilling their IT security needs. Workforce planning may assist any business in weathering the storm of a shifting labor market and ensuring long-term success. Failure to accurately predict personnel and organizational structure demands, on the other hand, can detract from an organization’s growth ambitions and cause issues with employee productivity and engagement.

Technological advancements are the key trend gaining popularity in the cloud-managed services market. Major companies operating in the cloud-managed services market are developing innovative technological solutions to strengthen their market position.

Technologies such as Artificial Intelligence (AI), Machine Learning (ML), the Internet of Things (IoT), and Big Data are becoming pivotal for modern-day businesses. Challenges in the on-premise deployment of AI have encouraged enterprises to leverage cloud managed services. According to a January 2022 article by Nutanix, Inc. (U.S.), 70% of companies develop AI capabilities through cloud-based software, while 65% create AI apps using cloud managed services. Cloud services allow organizations to access big data cost-effectively, offering pay-per-use models and high scalability.

United States Cloud Managed Services Market: Segmentation Analysis

The United States Cloud Managed Services Market is segmented on the basis of Enterprise Size, and End–User.

United States Cloud Managed Services Market, By Enterprise Size

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Based on Enterprise Size, Large Enterprises accounted for the largest market share in 2022 and is projected to grow at a CAGR of 10.01% during the forecast period. Large businesses represent a significant share of the market for cloud-managed services. These businesses are frequently distinguished by their enormous resources, worldwide operations, and complicated IT infrastructure. Due to their requirement to manage enormous volumes of data and sophisticated applications, large businesses have frequently been among the initial ones to adopt cloud technology. These businesses may more effectively grow their operations, enhance performance, and optimize their cloud infrastructure by utilizing Cloud Managed Services. Large businesses must continuously improve the efficiency of their cloud infrastructure due to their extensive user bases and high workloads. Cloud-managed service providers track system performance, spot obstacles, and apply optimizations to maintain smooth operations.

United States Cloud Managed Services Market, By End–User

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Based on End–User, BFSI accounted for the largest market share in 2022 and is projected to grow at a CAGR of 11.38% during the forecast period. The BFSI (Banking, Financial Services, and Insurance) sector is essential to all economies to facilitate money transfers, risk management, and economic growth. BFSI organizations often turn to cloud-managed services to simplify operations, improve security, increase scalability, and cut costs as digitalization rapidly transforms the business environment. Data numbers in the BFSI sector fluctuate, especially during hectic periods like tax season, stock market events, or significant financial announcements. The traditional on-premises infrastructure frequently needs help maintaining up with impulsive spikes in demand, which causes performance problems and downtime. However, cloud-managed services offer unmatched scalability and flexibility. They enable BFSI institutions to flexibly modify their computer resources, assuring uninterrupted performance throughout peak times. This enables banks and financial institutions to satisfy consumer requests and maintain market competitiveness.

Key Players

The “United States Cloud Managed Services Market” study report will provide valuable insight with an emphasis on the market. The major players in the market include ALE USA Inc., Cloudticity Datacom Group Ltd., Atos SE, Amazon Web Services, Inc., Cisco Systems, Inc., Hewlett Packard Enterprise Development LP, NEC Corporation, IBM Corporation, and others. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players.

Key Developments

• In June 2022, AWS Managed Services (AMS) Accelerate is a new cloud operations offer that helps customers achieve operational excellence regardless of where they are in their cloud journey.
• In April 2021, Innovative Solutions, a top Amazon Web Services Premier Consulting Partner, launched three new AWS Managed Cloud Services. These offers are aimed at providing clients with options that meet their business requirements while utilizing cloud-based services.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes an in-depth analysis of the market from various perspectives through Porter’s five forces analysis
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