You’ve heard the term but what is Cloud Managed Services? Cloud Managed Services provides skilled resources that augment in-house functionalities and IT infrastructure to be managed in collaboration with a third-party managed service provider (MSP) via cloud platforms. The services available in the Cloud Managed Services market include the managed network operations, managed security operations, managed cloud, IT life cycle management and managed mobility and applications. Cloud Managed Services enable organizations to augment competences that they lack or to replace functions or processes that incurred huge recurring costs. These services optimize recurring in-house IT costs, transform IT systems and automate business processes allowing Cloud Managed Services customers to achieve their business objectives.
The Cloud Managed Services market is witnessing accelerated growth in recent years due to the advancements in cloud computing, big data, and mobility services. Cloud Managed Services is estimated to become a $120 billion business by the year 2020.
Many Cloud Managed Services providers including Netfast segment their offerings by service module.
Small and medium-sized businesses are expected to be the main users of cloud managed services through 2020, the research organization suggested. Vendors in this sector are competing to retain clients, reduce costs and achieve new revenue streams.