Managed tables are the tables in which files, metadata and statistics etc are managed by internal Hive processes. Hive creates Managed tables by default. When we drop a managed table or partition, then all the metadata and data associated with the table is also deleted.
We use Managed tables, when we want Hive to manage the lifecycle of a table. Even for temporary tables, we use managed tables in Hive.
When we run DESCRIBE FORMATTED tableName statement, it displays whether a table is MANAGED_TABLE or EXTERNAL_TABLE.