Managed cloud services spending to reach $63 bn in 2021

Oracle Cloud
The managed cloud services market spending will be reaching $62.8 billion in 2021 – achieving a 5-year compound annual growth rate (CAGR) of nearly 18 percent.

IDC said 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.

“The managed cloud services market is 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 Services program.