This research report categorizes the managed network services to forecast revenue and analyze trends By Type, Deployment Mode, Organisation Size, Verticals
The report Managed Network Services Market size to grow from USD 57.4 billion in 2021 to USD 82.3 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 7.5% during the forecast period, according to new research report by MarketsandMarkets™
The presence of various key players in the ecosystem has led to competitive and diverse market. Businesses rely on outsourced network management to generate efficiencies, resulting in better usage of resources and reduced expenditure.
Organizations turn to MSPs for help rather than struggling to keep pace with technology. With managed network services, global network services are made available for organizations that do not have global resources available internally, eliminating the hassle of building, monitoring, and maintaining their network and giving them the freedom to focus on the core business.
Hence, managed network services are an attractive alternative to the costly, time-consuming business of in-house network management services, which are difficult to install and manage for SMEs where cost is a significant factor.
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247 - Tables
52 - Figures
270 - Pages
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The managed network security to record a higher growth rate during the forecast period
In the managed network services market by type, the managed network security is expected to record a higher growth rate during the forecast period. The threats to systems and data impede business innovation, limit productivity, and damage compliance efforts.
Managed network security services protect enterprise perimeter from all manner of security threats. MSPs employ strong security controls and safeguards to protect enterprise network services and customer information from external exploits, and continuously verify technologies and security operational processes through internal and external compliance audits.
Large Enterprises are expected to hold a larger market share during the forecast period
By Organisation size, large enterprises are expected to hold the largest market size. The major reason for large enterprises to adopt managed network services is consistent and reliable services with a global reach and operational cost reductions.
Large enterprises these days realize outsourcing some of the network operations is beneficial; hence, adopt managed network services. These enterprises work under tremendous pressure and time constraints to uphold their position in the market and maintain their customer base.
Cloud Deployment is expected to have a higher growth rate during the forecast period
By Deployment Mode, cloud is expected to have a higher growth rate. Cloud-managed network service providers manage an enterprise’s technology infrastructure or end-user systems.
Services are provided using the subscription model. MSPs monitor and manage servers and other hardware, software, and applications.
They offer helpdesk services and storage and backup of data and software. MSPs upload and configure the system components to ensure customers are fully operational with updated hardware and software.
Healthcare sector is expected to have a higher growth rate during the forecast period
By Verticals, Healthcare sector is expected to have a higher growth rate. Healthcare organizations have invested heavily in technology, such as cloud, mobility, and IoT, to deliver increased quality of care and reduce cost while maintaining regulatory compliance and a competitive position in the market.
This vertical is always under immense pressure where regulations, cost restrictions, skills/staffing issues, and compliance and cybersecurity challenges compete for resources and funding. Managed network services empower the healthcare institutions to easily manage the HIPAA-compliant networks for deploying and maintaining mobile healthcare applications and internet access for patients and visitors.
North America to hold the largest market size duringthe forecast period
North America is expected to hold the largest market size in the global managed network services market during the forecast period. North America is a frontrunner in terms of technology adoption and digitization of society.
Enterprises and service providers in this region are continuously changing their network infrastructure to cope with advanced technologies. The rapid changes in the IT infrastructure, such as cloud and virtualization, have significantly increased the pressure on network administrators to manage the network infrastructure.
Hence, enterprises are outsourcing network services with high standard network management and lower operating costs.
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Key Market Players
The key and emerging market players in the managed network services market include IBM (US), Cisco (US), Ericsson (Sweden), Verizon (US), Huawei (China), AT&T (US), BT Group (UK), Telefonica (Spain), T-Systems (Germany), NTT (Japan), Orange (France), Vodafone (UK), Fujitsu (Japan), Lumen (US), Masergy (US), Colt Technology Services (UK), Telstra (Australia), CommScope (US), Singtel (Singapore), GTT Communications (US), Global Cloud Xchange (UK), Brennan IT (Australia), Sify (India), Aryaka Networks (US), SCloudX (US), Optanix (US), DXC Technology (US), Oman Data Park (Oman), Servsys (US), FlexiWAN (Israel), Bigleaf (US), Wipro (India) and Comarch (Poland).
These players have adopted several organic and inorganic growth strategies, including new product launches, partnerships and collaborations, and acquisitions, to expand their offerings and market shares in the global managed network services market.
Regional Analysis for Managed Network Services Market
- North America: United States: Thanks to the adoption of cutting-edge technology, the existence of multiple IT enterprises, and a strong regulatory environment, the United States is a mature market for managed network services. Increased demand for cloud-based services and cybersecurity solutions could be two major trends. Canada: Much like the United States, Canada experiences a high demand for managed network services, with a particular emphasis on supporting the healthcare, financial, and telecommunications sectors.
- Europe: Western Europe: The market for managed network services is dominated by nations like the United Kingdom, Germany, and France. The use of IoT and digital transformation are emphasised, which is increasing demand for these services. As companies modernise their IT infrastructure, Eastern Europe is expanding steadily. Managed network services are crucial for businesses that are growing and using new technology.
- Asia-Pacific: China: Because of its fast increasing digital economy, China is experiencing an increase in demand for managed network services. The development of 5G infrastructure and the deployment of IoT in numerous industries are important factors. India: The rise of the IT and telecoms industries is fueling growth in the Indian market as well. The demand for managed network services is fueled in part by government initiatives for digitalization and smart cities.
- Latin America: Brazil: The need for managed network services is rising in Brazil, particularly in industries like banking, healthcare, and e-commerce. Government regulations and economic conditions have an impact on this sector.
- Middle East and Africa: UAE and Saudi Arabia: These nations are making significant investments in smart city and digital transformation initiatives, which is increasing demand for managed network services. South Africa: The country's market is expanding as a result of the development of the IT industry and rising cybersecurity concerns.
Factors that Drive Managed Network Services Market
- Increasing Complexity of Network Infrastructure: Network infrastructure is more complicated as businesses rely more on technology to run their businesses. Managed network services ease the workload on internal IT teams by assisting organisations in managing and optimising their networks.
- Digital Transformation: Strong and flexible network solutions are required due to the increasing digital transformation taking place across industries. Businesses are implementing IoT, cloud computing, and other digital technologies, all of which call for more sophisticated network management and security.
- Cost Efficiency: The requirement for internal network management and maintenance can be eliminated by managed network services, which can result in cost savings. Increasing the predictability of costs might also result from outsourcing network management.
- Scalability: The needs of an organisation can easily be scaled through managed network services. This is essential when firms grow and encounter changes in network demand.
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