Low Code Platform: Global Industry Overview and Forecast (2022-2030)

Overview:

The global Cloud Managed Services size is expected to cross a valuation of around USD 145.6 billion by 2030, with a 13.40% CAGR during the forecast period of 2022 to 2030. Market Research Future (MRFR) reviewed the market and revealed that the global market could depend on factors like growing demand for simplified services across industries, need for different access points to ease the workflow, ability to curb the IT maintenance cost, technological inclusion, support from the end user industries, digitalization, urbanization, a surge in intake of the system in developed and developing countries, and others.

However, the Cloud Managed Services may suffer a setback due to the high initial installation cost and the lack of experts who can deter market growth.

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Segmentation:

The global report studying various details of the Cloud Managed Services has a segmentation based on organization size, deployment, type, and end-user. MRFR’s analysts have reviewed the market on a microscopic level to come up with insights that can help in chalking out better plans for the coming years.

By type, the study of the global market includes managed infrastructure services, managed network services managed security services and managed data center services, managed mobility services managed communication services.

By deployment type, the global market study includes public cloud and private cloud.

By organization, the global study of the market includes small medium enterprises and large enterprises.

By vertical, the market study comprises telecommunication and IT, BFSI, healthcare, retail, government, energy utilities, manufacturing, and others.

By Deployment:

Private Cloud
Public Cloud

By Organisation Size:

Medium and Small Enterprises
Large Enterprises

By Type:

Managed Network Services
Managed Infrastructure Services
Managed Communication Services
Managed Mobility Services
Managed Data Centre Services
Managed Security Services

By End-User:

Government
Retail
IT and Telecommunication
Manufacturing
BFSI
Healthcare
Energy and Utilities

By Region:

Europe
North America
Asia-Pacific
Rest of the world

Regional Analysis:

Structural benefits and financial capacity are allowing the North American market to dominate the global market. Asia Pacific is showing ample opportunities for leaving others behind in terms of growth speed. The regional market would benefit from countries like China, Japan, India, South Korea, and others.

Competitive Landscape:

Alcatel-Lucent (Finland), IBM technologies (U.S.), Huawei Technologies (China), Ericsson (U.S.), NTT DATA Corporation (Japan), Cisco Systems (U.S.), Accenture PLC (Ireland), Verizon Communications (U.S.), Fujitsu Ltd. (Japan), NTT DATA Services (U.S.), and others are eminent names involved in the global Cloud Managed Services. These companies are implementing strategic moves that cover methods like a merger, tie-up, acquisition, branding, launching, and others to make sure their individual stand turns stronger, and the market benefits from it. MRFR recorded these latest changes to understand how well the market would perform in the coming years and what trends are dominating the market.

Industry News:

In August 2020, Pure Health, a UAE-based company known for its laboratory network with around 117 laboratories in the country, announced that it has inked a deal with BIOS Middle East, a company known as a cloud and managed service provider for Infrastructure-as-a-Service (IaaS). This would be a collaboration of Pure Health’s core Laboratory Information System (LIS) on BIOS’s CloudHPT.

In August 2020, MSRCosmos, announced that it had received the SAP on Microsoft Azure advanced specialization. This validates their extensive experience, deep knowledge, and proven success at implementing SAP solutions on platforms like Azure. In fact, this also shows that the company has a comprehensive and professional SAP to cloud-managed service that they can offer to their clients.

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COVID-19 pandemic triggered the uptaking of several developments that would help in streamlining the workflow and ensure minimum contact points. That is why a lot of companies are now relying on cloud managed services. This creates scope for the market to operate in bigger fields and it will help in fetching more revenues.

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About Market Research Future (MRFR):

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.

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