The managed third party cloud market continues to develop. While it is still early days, the aggressive growth of the public cloud makes this type of offering an inevitable addition to infrastructure service provider portfolios. But how viable is the model and is there meaningful upside potential? This report attempts to size the total addressable market and analyzes the impact of spin-off sales within service provider portfolios. We also take a look at managed third party cloud customer demographics, buying patterns and the rate at which the spin-off effect is occurring. For context, we begin this report with a look at the size and growth trajectory of the public cloud market and how it is shaping the current competitive landscape and portfolios of service providers.