Dublin, May 17, 2023 (GLOBE NEWSWIRE) -- The "Managed Network Services Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global managed network services market is expected to grow from $63.51 billion in 2022 to $70 billion in 2023 at a compound annual growth rate (CAGR) of 10.2%. The managed network service market is expected to grow to $102.27 billion in 2027 at a CAGR of 9.9%.
Increasing adoption of mobile and internet is expected to propel the growth of the managed network services market going forward. The internet is a globally linked network system that allows for global communication and access to digital resources. Managed network services is the monitoring and upkeep of a company's information technology and is benificial for internet users or IT field consumers with controlled costs and also reduces risks.
For instance, in January 2023, according to the Cyber crew, a UK-based non-profit organization that works in computers, mobile phones, and gaming, in 2020, approximately 87% of adults in the UK owned smartphones and it has the second-highest smartphone penetration rate in the world at 78.9%. Additionally, the percentage of mobile internet users was 72% in 2020. Therefore, the increasing adoption of mobile and the internet is driving the growth of managed network services.
Technological advancements are a key trend gaining popularity in the managed network services market. Major companies operating in the managed network services market are focused on developing new technological solutions to strengthen their position. For instance, in February 2022, Fujitsu, a Japan-based company operating in managed network services, introduced a new software virtualized radio access network (vRAN) technology with support for 5G Standalone (SA).
This includes AI and quantum-inspired Digital Annealer technologies for enhancing computing resources. The developed vRAN technology would address the challenges of conventional vRANs, delivering high performance with low energy consumption and provide the potential to reduce overall system CO2 emissions by 50% while offering users high-quality, stable communications.
In March 2022, Magna5, a US-based IT service management company, acquired TCG Network Services for an undisclosed amount. This acquisition strengthens Magna5's position as a powerful competitor in the lower middle market for cybersecurity, data recovery, and cloud services. This move strengthens their capacity to provide best-in-class technology. TCG Network Services is a US-based company operating in managed network services.
North America was the largest region in the managed network services market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the managed network services report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the managed network services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
- Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis
Scope
Markets Covered:
1) By Type: Managed LAN; Managed Wi-Fi; Managed VPN; Managed WAN; Network Monitoring; Managed Network Security
2) By Organization Size: Small Businesses; Medium Businesses; Large Enterprises
3) By Deployment Mode: On-Premises; Cloud
4) By Verticals: Banking, Financial Services and Insurance; Retail and Ecommerce; IT and Telecom; Manufacturing; Government; Education; Healthcare; Media and Entertainment; Other Verticals
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $70 billion |
| Forecasted Market Value (USD) by 2027 | $102.27 billion |
| Compound Annual Growth Rate | 9.9% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Managed Network Services Market Characteristics
3. Managed Network Services Market Trends And Strategies
4. Managed Network Services Market - Macro Economic Scenario
5. Managed Network Services Market Size And Growth
6. Managed Network Services Market Segmentation
7. Managed Network Services Market Regional And Country Analysis
A selection of companies mentioned in this report includes
- International Business Machines Corporation
- Cisco Systems Inc.
- Telefonaktiebolaget LM Ericsson
- Verizon Communications Inc.
- Huawei Technologies Co Ltd
- AT&T Inc
- BT Group plc
- T-Systems International GmbH
- NTT DATA Corporation
- Fujitsu Limited
- Lumen Technologies Inc
- Colt Technology Services Group Limited
- Telstra Corporation Limited
- Singtel Optus Pty Limited
- GTT Communications Inc.
- Telefonica S.A
- Brennan IT
For more information about this report visit https://www.researchandmarkets.com/r/tqwagv
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
