Global Cloud Managed Services Market

The cloud managed services market is projected to witness the growth at a CAGR of 12.54% during the forecast period to reach a total market size of US$66.550 billion by 2023, increasing from US$32.757 billion in 2017.Cloud managed services has been segmented as public, private, and hybrid type on the basis of deployment model. Cloud managed services have grown significantly as they are cost effective than the traditional solutions. The public cloud model refers to the cloud model type in which cloud services are delivered over the network and is open for public use. Mainly this type of cloud solutions are owned by business organizations, government organization, and educational institutions.