FRAMINGHAM, Mass., November 27, 2017 – In a newly published study, International Data Corporation (IDC) forecasts that the worldwide managed cloud services market will grow at a five-year compound annual growth rate (CAGR) of nearly 18% with spending reaching $62.8 billion in 2021.
“The managed cloud services market is creating fundamental changes in the outsourcing industry involving the entrance of new providers, partnership ecosystems, investment requirements and opportunities, though also bringing with it some critical challenges to players shifting from a world of non-cloud (legacy) outsourcing to managed cloud services,” said David Tapper, vice president, IDC’s Outsourcing and Managed Cloud S ervices program.
IDC’s study, Worldwide Managed Cloud Services Forecast, 2017-2021: An Extraction View of Technology Outsourcing Services Markets (IDC # US41967817), provides a forecast of managed cloud services involving private, public, and hybrid markets across eight major regions. The study also includes advice to providers of IT services, an analysis of market and industry trends by key managed cloud services markets and regions, key market drivers and inhibitors, and significant market developments.
“From a market perspective, the increased buyer adoption of managed cloud services and evolution to mature users of these services will translate to a substitution effect that not only displaces traditional outsourced-managed services but requires providers to make fundamental changes to their business operations,” Tapper said.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC’s analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world’s leading media, data and marketing services company that activates and engages the most influential technology buyers. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn.