Samsung SDS Co. was recognized as the largest cloud provider in South Korea for 2023, according to IDC’s 2023 Korea’s Managed Service Provider (MSP) Market Share Report.

The company secured the top spot with a 23.9 percent market share, the report said.

Managed cloud service providers offer efficient solutions for enterprise clients, including infrastructure management, security, and monitoring.

Samsung SDS also ranked second in IDC’s Cloud Service Provider (CSP) Market Share Report, with an 11 percent share, the highest among domestic providers. Amazon Web Services Inc. (AWS) maintained the top position in the CSP domestic market.

IDC recognized Samsung SDS for successfully transitioning its clients‘ systems to the Samsung Cloud Platform (SCP)-based cloud services, enhancing its market position and boosting customer satisfaction.

Samsung SDS aggressively expanded its cloud business in 2024, achieving 30 percent growth and reaching 1.72 trillion won ($1.17 billion) in sales by the third quarter.

The company was also recognized as a major player in the global cloud services sector in IDC’s MarketScape report, released in June, being the only domestic company included among global giants.

IDC MarketScape evaluates companies in a specific field by analyzing their product and service competitiveness, business strategies, and customer bases over the next 3-5 years.

IDC highlighted Samsung SDS’s differentiated consulting, cloud transition and deployment services, and SCP platform as key strengths, while also praising its business strategy and employee expertise.

“Based on our accumulated experience and capabilities, we will be a strategic partner in our customers’ business innovation and their cloud and generative artificial intelligence journey,” the company said.

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