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Consumer Discretionary : Automobiles |
Based in China
Company profile

Nio, Inc. designs, manufactures and sells smart and connected electric vehicles. It manufactures autonomous driving electric vehicles integrated with next generation technologies and artificial intelligence. It manufactures ES8, which is a seven-seated all aluminum alloy body electric sports utility vehicle (SUV). It is equipped with e-propulsion system which is capable of accelerating from zero to 100 km per hour in 4.4 seconds and delivering a New European Driving Cycle driving range of up to 355 Kilometers (km) and a maximum range of up to 500 km in a single charge. It is also focused on providing vehicle charging solutions, which include Power Home, Power Swap, Power Mobile and Power Express service. It also offers various value-added services to its users, such as statutory and third-party liability insurance and car damage insurance through third-party insurers, repair and routine maintenance services, courtesy car during lengthy repairs and maintenance and roadside assistance.

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Closing Price
$56.27
Day's Change
-4.60 (-7.56%)
Bid
--
Ask
--
B/A Size
--
Day's High
60.22
Day's Low
55.67
Volume
(Below Average)
Volume:
132,247,850

10-day average volume:
164,950,704
132,247,850

Cloud Managed Services Market to Hit $129.26 Billion by 2027; Rising Emphasis of Businesses to Reduce Operational & Maintenance Costs to Boost Growth: Fortune Business Insights(TM)

9:59 am ET October 29, 2020 (Globe Newswire) Print

The global cloud managed services market size is projected to reach USD 129.26 billion by 2027, exhibiting a CAGR of 13.8% during the forecast period. Remote working trends triggered by the COVID-19 pandemic will rapidly expand the scope of this market, observes Fortune Business Insights(TM) in its report, titled "Cloud Managed Services Market Size, Share & COVID-19 Impact Analysis, By Service Type (Managed Business Services, Managed Network Services, Managed Infrastructure Services, Managed Security Services, Managed Mobility Services, and Managed Communication and Collaboration Services), By Deployment (Public Cloud, Private Cloud), By Enterprise Size (SMEs, Large Enterprises), By Vertical (Banking, Financial Services, and Insurance (BFSI), IT and Telecommunications, Government and Public Sector, Healthcare and Life Sciences, Retail and Consumer Goods, Manufacturing, Others), and Regional Forecast, 2020-2027". With strict social distancing norms imposed by governments around the globe, companies have been forced to set up work from home systems for employees. Cloud services have emerged as the key technology facilitating the transition from physical office environments to virtual working scenarios. The suddenness of events has caused the demand for cloud managed services to skyrocket in the past few months. For example, Microsoft witnessed a 775% increase in the adoption of its cloud services, while Microsoft Teams boasts of more than 44 million users daily. In India, Google has obtained several new clients including the National Payments Corporation of India, Wipro, and the travel company Cleartrip, indicating speedily rising demand for cloud services in the country.

Click here to get the short-term and long-term impact of COVID-19 on this market.

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As per the report findings, the global market value stood at USD 46.50 billion in 2019. The other highlights of the report include:

-- In-depth evaluation of the main market drivers, trends, and restraints;

-- Careful examination of the top market players and their dominant strategies;

-- Comprehensive analysis of each individual market segment; and

-- Exhaustive study of the regional developments impacting the market.

Market Restraint

Dangers Posed by Data Breaches to Impede Market Growth

One of the major concerns surrounding the adoption of cloud-based services and solutions is the constant threat of data breach and hacking posed by cyber-criminals. Cyber-attacks in the past few years have grown in scale and intensity with the increasing penetration of digital technologies in peoples' lives. For example, in July 2019, Capital One, one of the largest financial companies in the US, experienced a massive cyber-attack on its cloud computing system, resulting in the exposure of 160 million credit card user data. In the same month, the cloud service provider PCM faced a slew of hacking attacks, which led to the abuse of clearinghouses, money transfer services, and payment processing services provided by the company. Another large-scale hacking incident took place in April 2016, when the National Electoral Institute of Mexico's more than 93 million voter registration records, which were stored on an illegal Amazon cloud server, were compromised. Such instances may deter organizations and governments to fully adopt the cloud and thus hamper the cloud managed services market growth.

Regional Insights

Speedy Adoption of Cloud Services to Accelerate Market Growth in North America

At USD 16.29 billion, North America dominated the cloud managed services market share in 2019 and is expected to sustain its top position during the forecast period. The primary growth driver for the regional market is the rapid uptake of managed cloud services by companies in the region to lower their operational costs and compensate for the lack of highly-skilled IT professionals.

In Europe, digitalization of business processes and heavy investments in strengthening of cloud infrastructures will be the two crucial factors fueling the regional market growth. On the other hand, the market in Asia Pacific is slated to grow dynamically owing to the increasing utilization of cloud services by the small- and medium-size enterprises in the region. In addition to this, rising adoption of cloud solutions by governments in the region is expected foster long-term growth of the regional market.

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Competitive Landscape

Key Players to Concentrate on Expanding & Diversifying Product Portfolios

As the demand for cloud managed services gets more variegated, especially amid the current pandemic, key companies are focusing on developing diverse solutions to cater to the needs of end-users. As a result, several players in the market are doubling down their investments in R&D to bring out novel cloud services for clients.

Industry Developments:

-- August 2020: Augmentt released a suite of solutions for managed cloud service providers (MSPs), becoming the first company to offer simple yet advanced software-as-a-service (SaaS) solutions to aid the transition of MSPs to the cloud. The suite includes Augmentt Discover, Augmentt Optimize, and Augmentt Manage.

-- March 2020: Lightstream and its strategic partner, CloudCheckr, launched the Lightstream Cloud Managed Services to help organizations with the day-to-day maintenance of their cloud infrastructure. The solution provides a comprehensive set of operational management, financial, technical, and security services.

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List of Key Companies Profiled in the Cloud Managed Services Market Report:

-- Wipro Limited (Bengaluru, India)

-- Taos Mountain LLC (California, United States)

-- Rackspace US, Inc. (Texas, United States)

-- NTT DATA Corporation (Tokyo, Japan)

-- NEC Corporation (Tokyo, Japan)

-- Logicworks (New York, United States)

-- IBM Corporation (New York, United States)

-- Hewlett Packard Enterprise Development LP (California, United States)

-- Google LLC (California, United States)

-- DXC Technology Company (Virginia, United States)

-- Deloitte Touche Tohmatsu Limited (London, United Kingdom)

-- Cognizant Technology Solutions Corporation (New Jersey, United States)

-- Cisco Systems Inc. (California, United States)

-- Bespin Global (Seoul, South Korea)

-- Atos (Bezons, France)

-- Alcatel-Lucent S.A. (Boulogne-Billancourt, France)

-- Telefonaktiebolaget LM Ericsson (Stockholm, Sweden)

-- Smartronix, LLC (Maryland, United States)

-- Progressive Infotech Pvt. Ltd. (Noida, India)

-- Nordcloud Oy (Helsinki, Finland)

-- Lumen Technologies, Inc. (CenturyLink) (Louisiana, United States)

-- Infosys Limited (Bengaluru, India)

-- Huawei Technologies Co., Ltd. (Shenzhen, China)

-- HCL Technologies Limited (Noida, India)

-- Fujitsu Ltd. (Tokyo, Japan)

-- DLT Solutions (Virginia, United States)

-- Datacom Group Ltd (Jakarta, Indonesia)

-- Cloudticity, LLC (Washington, United States)

-- Capgemini SE (Paris, France)

-- Augmentt Technology Inc. (Ontario, Canada)

-- Amazon Web Services, Inc. (Washington, United States)

-- Accenture PLC (Dublin, Ireland)

Quick Buy - Cloud Managed Services Market Research Report:

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Detailed Table of Content:

1. Introduction

1.1. Definition, By Segment

1.2. Research Methodology/Approach

1.3. Data Sources

2. Executive Summary

3. Market Dynamics

3.1. Macro and Micro Economic Indicators

3.2. Drivers, Restraints, Opportunities and Trends

3.3. Impact of COVID-19

3.3.1. Short-term Impact

3.3.2. Long-term Impact

4. Competition Landscape

4.1. Business Strategies Adopted by Key Players

4.2. Consolidated SWOT Analysis of Key Players

4.3. Porter's Five Force Analysis

5. Global Cloud Managed Services Market Key Players Market Share Insights and Analysis, 2019

6. Companies Profiled (Covered for key 10 players only)

6.1. Overview

6.1.1. Key Management

6.1.2. Headquarters etc

6.2. Offerings/Business Segments

6.3. Key Details (Key details are subjected to data availability in public domain and/or on paid databases)

6.3.1. Employee Size

6.3.2. Past and Current Revenue

6.3.3. Geographical Share

6.3.4. Business Segment Share

6.4. Recent Developments

7. Annexure/Appendix

7.1. Global Cloud Managed Services Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2016-2027

7.1.1. By Service Type (Value)

7.1.1.1. Managed Business Services

7.1.1.2. Managed Network Services

7.1.1.3. Managed Infrastructure Services

7.1.1.4. Managed Security Services

7.1.1.5. Managed Mobility Services

7.1.1.6. Managed Communication and Collaboration Services

7.1.2. By Deployment (Value)

7.1.2.1. Public Cloud

7.1.2.2. Private Cloud

7.1.3. By Enterprise Size (Value)

7.1.3.1. SMEs

7.1.3.2. Large Enterprises

7.1.4. By Vertical (Value)

7.1.4.1. Banking, Financial Services, and Insurance (BFSI)

7.1.4.2. IT and Telecommunications

7.1.4.3. Government and Public Sector

7.1.4.4. Healthcare and Life Sciences

7.1.4.5. Retail and Consumer Goods

7.1.4.6. Manufacturing

7.1.4.7. Others (Energy and Utilities, and Aerospace and Defense, Etc.)

7.1.5. By Region (Value)

7.1.5.1. North America

7.1.5.2. South America

7.1.5.3. Europe

7.1.5.4. Middle East & Africa

7.1.5.5. Asia Pacific

Continued....!

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Have a Look at Related Research Insights:

Managed Services Market Size, Share & Covid-19 Impact Analysis, By Services (Voice Services, Non-voice Services and IT Managed Services), By Function (Finance and Accounting (F&A), Marketing, Procurement, Supply Chain, Human Resource (HR) and Information Technology (IT)), By End-user (Medical, Financial, Government, Audit & Consulting, Corporate, Telecommunication, and Insurance & Re-insurance) and Regional Forecast, 2020-2027

Cloud Computing Market Size, Share & COVID-19 Impact Analysis, By Type (Public Cloud, Private Cloud, Hybrid Cloud), By Service (Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS)), By Industry (Banking, Financial Services, and Insurance (BFSI), IT and Telecommunications, Government, Consumer Goods and Retail, Healthcare, Manufacturing, Others), and Regional Forecast, 2020-2027

Cloud Security Market Size, Share & COVID-19 Impact Analysis, By Application (Identity and Access Management, Email and Web Security, Data Encryption and Prevention), By Security Type (Workload Security, Network Security, Platform Security), By Enterprise (Large Enterprises, SMEs), By Deployment (Public, Hybrid, Private), By End-User (IT and Telecom, BFSI, Healthcare and Life Sciences, Manufacturing), and Regional Forecast, 2020-2027

Cloud Analytics Market Size, Share & Industry Analysis, By Deployment Type (Public Cloud, Private Cloud, and Hybrid Cloud), By Organization Size (Small And Medium-Sized Enterprises (SMEs) and Large Enterprises), By End-User (BFSI, IT and Telecommunications, Retail and Consumer Goods, Healthcare and Life Sciences, Manufacturing, Education, and Others) and Regional Forecast, 2019-2026

Cloud Storage Market Size, Share & Industry Analysis, By Component (Storage Model, and Services), By Deployment (Private, Public, and Hybrid), By Enterprise Size (SMEs, and Large Enterprises), By Vertical (BFSI, IT and Telecommunication, Government and Public Sector, Manufacturing, Healthcare and Life Sciences, Retail and Consumer Goods, Media and Entertainment, and Others), and Regional Forecast, 2020-2027

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Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

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