MSP TODAY NEWS

Global Cloud Professional Services Space to Reach $30B by 2018

By Rory Lidstone

The cloud market saw growth varying from solid to incredible last year, depending on the segment. For example, Gartner predicted that global public cloud services alone would jump to $131 billion last year, up from $111 billion in 2012. What’s really incredible, though, is that some areas of the cloud space are expected to continue this level of growth this year and beyond.

In particular, new data presented in Technology Business Research’s Cloud Professional Services Customer Report states that demand for cloud professional services “continues to escalate” with more than 74 percent of enterprise clients purchasing or considering the purchase of such services. By comparison, only 59 percent of enterprise clients did so in 2011.

Along with this general increased interest in cloud professional services also comes a shift in the nature of this interest. Indeed, it seems that the professional services demands of clients have shifted of late toward a need for assistance in system integration and implementation.

Regardless of its focus, however, TBR claims that the cloud professional services market revenue increased 50.4 percent in 2013 to reach $17 billion, up from $5 billion in 2010. More importantly, the market will maintain a compound annual growth rate of 12 percent over the next few years, taking it to $30 billion in 2018. Leading this growth will be emerging markets, namely the Asia Pacific region, which require the use of cloud professional services more than established markets like North America.

“Emerging markets require the assistance of cloud professional services to maximize the benefits of cloud technologies due to their inability to maintain cloud services on their own. The report indicates budgets for cloud professional services are highest in APAC,” said TBR analyst Cassandra Mooshian in a statement.

The Cloud Professional Services Customer Report gathered its data from a survey of 900 end users of cloud professional services across North America, Europe and Asia.




Edited by Cassandra Tucker

Contributing Writer

SHARE THIS ARTICLE
Related Articles

MDR Provider for MSPs Huntress Tracks Down $18 Million Funding Round

By: Laura Stotler    2/21/2020

Huntress, a company that provides SaaS managed detection and response (MDR) solutions for MSPs and VARs to deliver to SMBs, has scored an $18 million …

Read More

Pax8 and Novacoast Announce Security Operations Center Strategic Partnership at ITEXPO

By: Arti Loftus    2/21/2020

With all its benefits, cloud hosting, storage, and computing are increasingly vulnerable to cyber threats, and at ITEXPO this week in Ft. Lauderdale, …

Read More

As Digital Transformation Continues in the Enterprise Cybersecurity World, One Company Reaches for the Cloud to Supercharge Analyst Productivity

By: Arti Loftus    2/21/2020

It's no secret that managing security within enterprises, organizations, and small and medium businesses have become exponentially more complex as mor…

Read More

Federated Wireless Launches 4G/5G Private Networks Through Azure and AWS

By: Ken Briodagh    2/21/2020

Federated Wireless recently announced a new Connectivity-as-as-Service offering that reportedly lets U.S. enterprises buy and deploy private 4G and 5G…

Read More

When Labor Markets are Tight, a Blended Workforce Could be the Answer

By: Bill Yates    2/20/2020

Managed Services Providers (MSPs) can gain flexibility and operational efficiency by moving to a blended workforce. By combining full-time staff with …

Read More