Cloud Managed Services Market: Trends, Growth, and Forecast 2023-2030
The global cloud-managed services market was valued at USD 102.19 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 14.7% from 2023 to 2030. This growth is primarily driven by the increasing focus on mobility, which enables employees to access company data and applications remotely, and the need for businesses to concentrate on their core functions rather than managing IT infrastructure. These factors are expected to propel demand for cloud-managed services, which allow businesses to delegate IT management to service providers, thus freeing up resources for other strategic initiatives. One of the key factors contributing to market growth is the rising demand for scalability and reliability in cloud services. Cloud solutions provide the flexibility for businesses to scale their operations up or down based on demand. The ability to customize cloud services according to the unique needs of an enterprise—whether it’s related to storage, processing ...