Pune, India., June 29, 2023 (GLOBE NEWSWIRE) -- According to our latest study on “Managed Network Services Market Forecast to 2030 – COVID-19 Impact and Global Analysis – by Type, Deployment, Organization Size, End-Use Vertical, and Geography,” the managed network services market is projected to reach US$ 143.4 billion by 2030 from US$ 60.9 billion in 2022; it is expected to grow at a CAGR of 11.5% during 2023–2030. The increasing complexity of network infrastructure, and increased demand for effective security solutions. However, the security concerns and issues is expected hinder the growth of the market.
Download Sample Pages: https://www.theinsightpartners.com/sample/TIPTE100000653/
The US held the largest share of the North American managed network services market in 2020. The US has dominated North America's managed network service market due to its large investment in research and development, technological advancements, and many established players. The country's focus on innovation has resulted in the developing of cutting-edge technologies that have contributed to the market's growth. Additionally, the US has a highly developed IT infrastructure, which has helped to support the growth of the managed network service market. The growth of the managed network service market in the US can also be attributed to the increasing adoption of cloud-based services. As more businesses move to the cloud, the need for managed network services has grown. Managed network services help businesses to streamline their IT infrastructure, lower costs, and enhance operational efficiency. Another factor contributing to the growth of the managed network service market in the US is the increasing demand for cybersecurity services. With the rise of cyber threats, businesses are increasingly shifting to managed service providers to help them protect their networks and data. Managed service providers offer cybersecurity services, including threat detection and response, vulnerability management, and compliance management. Overall, the US's dominance in the managed network service market can be attributed to a combination of factors, including its investment in research and development, technological advancements, and many established players in the market. The market is expected to grow in the forthcoming years, driven by factors such as the increasing adoption of cloud-based services and the growing demand for cybersecurity services.
Proliferation of IoT devices across various industries Provides Lucrative Opportunities for Managed Network Services Market:
The proliferation of IoT devices across industries presents significant growth opportunities for the managed network services market. As businesses struggle with managing, securing, and integrating IoT devices into their networks, managed service providers can offer specialized services to address these challenges. They can assist with device provisioning, connectivity management, and remote troubleshooting, ensuring the smooth operation of IoT networks. Moreover, managed service providers can design network solutions that optimize connectivity, manage increased data traffic, and implement robust security measures tailored to IoT environments. Additionally, by developing industry-specific solutions, managed network service providers can cater to various industries' unique network requirements and compliance regulations. The market will ultimately profit greatly from technologies such as the internet of things or connected devices. Internet of things technology makes it possible to collect data in more ways and boosts operational effectiveness in terms of costs and data analytics. Even running analytics is made simpler by IOT. As the adoption of IoT devices continues to rise, the demand for managed network services is expected to grow, creating opportunities for providers to expand their offerings and deliver value to their customers.
Global Managed Network Services Market: Segmental Overview
Based on type, the managed network services market is segmented into managed LAN, managed network security, managed monitoring, managed VPN, managed WAN, and managed Wi-Fi. The managed LAN segment held the largest share of the market in 2020, whereas the managed WAN segment is anticipated to register the highest CAGR in the market during the forecast period. On the basis of deployment, the managed network services market is bifurcated into cloud and on-premise. The on-premise segment held the largest share of the managed network services market in 2020, whereas the cloud segment is anticipated to register the highest CAGR in the market during the forecast period. Based on organization size, the managed network services market is segmented into large enterprises and SMEs. The large enterprises segment held the largest share of the market in 2020, whereas the SMEs segment is estimated to register the highest CAGR in the market during the forecast period. On the basis of application, the managed network services market is segmented into BFSI, government, IT & telecommunication, manufacturing, media & entertainment, retail & e-commerce, and others. The IT & telecommunication segment held the largest share of the market in 2020 and is estimated to register the highest CAGR in the market during the forecast period.
Purchase Premium Copy of Managed Network Services Market Growth Report (2023-2030) at: https://www.theinsightpartners.com/buy/TIPTE100000653/
Global Managed Network Services Market Analysis: Competitive Landscape and Key Developments
Accenture PLC; Cisco Systems, Inc.; Cognizant Technology Solutions Corporation; Fujitsu, Ltd.; HCL Technologies Ltd.; Huawei Technologies Co., Ltd.; Kyndryl Holdings Inc.; NTT Ltd.; Tata Consultancy Services; and Verizon Communications, Inc. are a few of the key companies operating in the managed network services market. The market leaders focus on new product launches, expansion and diversification, and acquisition strategies, which allow them to access prevailing business opportunities.
In July 2022 - AWS Cloud WAN, a new managed wide area network (WAN) solution that connects colocation facilities, on-premises data centers, cloud resources, and branch offices, was made available by Amazon Web Services, Inc. Customers may establish their configuration settings, evaluate the health of their worldwide network, and automate regular setup and security operations using a centralized management dashboard embedded into AWS Cloud WAN. Enterprises may use AWS Cloud WAN to connect to the AWS global network and create a unified network for their company to enhance network health, security, and performance.
In May 2022, Nokia Corporation (Finland) and stc (South Africa) announced the launch of a managed SD-WAN solution, stc SD-WAN, based on Nuage Networks from Nokia’s Virtualized Network Services (VNS) platform. It will enable rapid ordering and automated configuration of network services and increase visibility and control based on the individual requirements of enterprises.
In April 2022, Prevailing, a leading player in Compromise Breach MonitoringTM, announced the official release of ARKTOS, the only malware replica platform that enables businesses to securely test their information security preparedness against the world's most difficult early-stage malware.
In April 2021, the global WAN across 17 nations would be made available to ERIKS by AT&T. A Dutch company called ERIKS develops digital capabilities. ERIKS' US transport network will be converted to an entirely AT&T Managed network by AT&T.
Go through further research published by The Insight Partners: (Purchase with 10% Instant Discount):
Managed VPN Services Market Forecast to 2028 - Covid-19 Impact and Global Analysis
Managed Security Services Market Forecast to 2025 – Global Analysis
Managed Wi-Fi Services Market Forecast to 2028 - Covid-19 Impact and Global Analysis
Cloud Managed Services Market Forecast to 2028 - COVID-19 Impact and Global Analysis
Digital Transformation Market to 2025 - Global Analysis and Forecasts
Digital Transformation Services Market Forecast to 2028 - Covid-19 Impact and Global Analysis
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Ankit Mathur
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/managed-network-services-market
