Pune, India, April 2022, MRFR Press Release/Market Research Future has published a Half- Cooked Research Report on the Global Managed Network Services Market.
The global managed network services market is expected to register a CAGR of ~10% during the forecast period, 2022–2030. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the managed network services market to offer a better glimpse into the coming years.
The growth of the managed network services market is mainly driven by the increasing need to minimize capital expenditure and operational expenditure, increasing trends of digital transformation and the software-baseed network boosts for enterprises. Moreover, the growing demand for managed network service providers in SMEs, growing IP traffic and cloud traffic and ability of managed service providers to solve complexity issues associated with SD-WANs presents lucrative opportunities for market growth. However, the growing concerns over data security and privacy coupled with increasing compliances and regulations across different verticals may slow the growth of the managed network services market during the forecast period.
The global Managed Network Services market has been segmented based on service type, organization size, deployment mode, vertical, and region.
Based on the service type, the market has been segmented into managed LAN/ WPN networks, managed wi-fi, managed VPN/ IP, managed WAN, managed network security, managed network monitoring, and other services. During the forecast period 2022 to 2030, the managed network security segment is likely to grow with the highest CAGR. Third-party service providers, solution providers, or value-added resellers who provide managed network security services can be hired to outsource responsibilities or procedures connected to network security.
By organization size, the market has been segmented into small and medium enterprises (SMEs) and large enterprises. During the study period, the small and medium enterprises segment is predicted to have the highest CAGR. The complexity of network infrastructure has increased, putting a strain on many firms' finances and IT resources. Improving the integrity of network and IT operations is increasingly difficult, if not impossible, for businesses that are unable to keep up with the demands that new services place on their networks, as well as growing compliance and security requirements, particularly for SMEs.
By deployment mode, the market has been segmented into on-cloud and on-premises. The video surveillance segment is expected to gain the largest market size during the forecast period. Cloud-based managed services have become a standard practise for outsourcing IT resources and administration via the cloud. The outsourcing of cloud resources to third parties improves an organization's competitiveness by allowing it to focus on its core capabilities.
By vertical, the market has been segmented into bfsi, IT & telecommunications, retail & E-commerce, manufacturing, government, healthcare, and others. The IT & telecommunications segment is expected to gain the largest market share during the forecast period while the healthcare segment is expected to have the highest CAGR during the forecast period.
The global managed network services market is characterized by the presence of several regional and local providers. Some of the key players in the market are Cisco Systems Inc. (US), Tata Communications In. (India), AT&T Inc. (US), Telefonaktiebolaget LM Ericsson (Sweden), BT Group PLC (UK), Verizon Communications Inc. (US), IBM Corporation (US), Hughes Network Systems LLC (US), T-Systems International GmbH (Germany), Telefonica SA (Spain), NTT Limited (Japan), Sify Technologies Limited (Indian), DXC Technology Company (US), Wipro Limited (India), Colt Technology Services (UK), Fujitsu (Japan), Commarch SA (Poland), ManageEngine (India), Lumen Technologies (US), and HCL Technologies Limited (India).
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Geographically, the global managed network services market has been categorized into five regions, namely North America, Europe, the Asia-Pacific, the Middle East & Africa, and South America.
North America is likely to be the dominant regional market due to the faster adoption of innovative technologies in developed countries in the region—the US, Canada, and Mexico. This is mostly owing to the fact that the region is one of the most technologically advanced, with a plethora of market participants such as IBM Corporation, Cisco Systems Inc., AT&T Inc., DXC Technology Company, and others. With the development of cloud computing, there has been an increase in the demand for secure networking among businesses, which is projected to fuel demand for managed network services. Customers that want assistance for their on-premises and cloud-based resources are turning to managed network service providers in greater numbers. Service providers are finding greater pricing and profit stability as a result of this increasing demand, which is likely to fuel the growth of the Managed Network Service Market throughout the forecast period.
The European market has been segmented into the UK, Germany, France, and the rest of Europe. The UK is projected to be the leading country-level market in the region, while Germany is projected to register the highest growth during the review period. As the European Union moves toward digitization, several nations in the area are investing extensively in information technology and cloud computing. The utilisation of hybrid cloud has become critical in the transition of industries to digitalization. New, creative initiatives and ideas are constantly created and executed using cloud-based infrastructure. Key participants in the industry are also investing extensively in R&D to equip organisations with multichannel cloud strategies and to keep up with the rapidly changing digital environment.
The Asia-Pacific is expected to be the fastest-growing regional market during the forecast period. The regional market has been being segmented into China, Japan, India, and the rest of Asia-Pacific. The APAC area is experiencing tremendous growth due to a variety of factors, including the expansion of local businesses and government programmes aimed towards digitization. The major APAC countries are technologically advanced and provide significant investment and income potential. The area's increased use of cloud management services by SMEs would lead Asia-Pacific to become the most disruptive region throughout the projection period.The growing volume of data generated by edge devices across multiple industrial verticals, as well as increased consumer spending on smart solutions in countries such as China, Japan, Australia, and India, are driving the growth of the Managed Network Services market in the APAC region.