The Cloud Managed Services Market is projected to reach $247.5 billion by 2030, at a CAGR of 14.2% from 2023 to 2030. Cloud managed services are IT service offerings that provide for the day-to-day management and operational responsibility for cloud service environments. These services are designed to enable organizations to focus on their core business activities, while the cloud service provider manages the cloud environment. The market is driven by the increasing demand for cloud-based services, cost-effectiveness of cloud managed services, and the growing need for data security and compliance.
