Managed Network Services Market To Profit From the Growing Need To Minimize Capital Expenditure

Managed Network Services Market To Cross USD 134.7 Billion By 2030

According to the research reports by MRFR, the global market for managed network services market is anticipated to bolster substantially during the assessment timeframe from 2022 to 2030 at a healthy growth rate of approximately 10%. The report anticipates the market to atta/in a size of around USD 134.7 billion by the end of 2030.

Managed network services market refer to networking applications, services, and operations businesses contract to a managed service provider (MSP) to be run, maintained, and monitored. The global market for managed network services has displayed a massive expansion in recent times owing to the aspects such as the increasing need to minimize capital expenditure & operational expenditure, increasing compliances & regulations, growing IP traffic & cloud traffic, growing demand for managed network service providers in SMEs, and increasing trends of digital transformation. On the other hand, the growing concerns over data security and privacy are likely to restrict the market’s growth.

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Managed Network Services Market Report Scope:

Segment Analysis

The global market for managed network services has been segregated into segments based on vertical, service type, deployment, organization size, and region.

Based on the service type, the global market for managed network services is split into managed network monitoring, managed LAN/ WPN networks, managed network security, managed wi-fi, managed WAN, managed VPN/ IP, and other services.

Based on the organization size, the global market for managed network services is divided into large enterprises and small and medium enterprises (SMEs).

Based on the deployment mode, the global market for managed network services is fragmented into on-premises and on-cloud.

Based on the vertical, the global market for managed network services is slit into healthcare, bfsi, manufacturing, government, retail & E-commerce, IT & telecommunications, and others.

Regional Analysis

The global market for managed network services is analyzed across five significant geographies: Europe, South America, North America, the Middle East & Africa, and Asia-Pacific.According to the research reports by MRFR, the North American region is predicted to secure the top spot across the global market for managed network services over the assessment era. The region dominated the global market in 2020. The presence of various vital organizations operating across the region offering modern solutions to all of the region’s industry verticals is considered the main parameter is supporting the growth of the regional market. Furthermore, many R&D operations, partnerships, and various investments are also anticipated to boost the regional market’s growth over the review era.

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Competitive Analysis

The global market for managed network services has a robust and competitive landscape. The market is anticipated to show considerable growth over the review era because of the rising number of managed network services players. Numerous global, regional, and domestic players in the managed network services market struggle to gain a substantial share of the overall market. The prime growth contributors across the global market heavily invest in research & development activities to boost the growing global market footprint. Additionally, the players are participating in new product developments to strengthen and expand their existing portfolios and acquire new consumers. The list of leading participants across the global market for managed network services includes players such as DXC Technology Company, Colt Technology Services, Cisco Systems Inc., BT Group PLC, Tata Communications Inc., HCL Technologies Limited (India), ManageEngine (India), Fujitsu (Japan), Wipro Limited (India), NTT Limited (Japan), Hughes Network Systems LLC (US), Verizon Communications Inc. (US), AT&T Inc. (US), Lumen Technologies (US), Colt Technology Services (UK), Telefonica SA (Spain), IBM Corporation (US), Commarch SA (Poland), Sify Technologies Limited (Indian), T-Systems International GmbH (Germany), Telefonaktiebolaget LM Ericsson (Sweden), and several others.

Recent Developments

• October 2022- A prominent global provider of managed network and security services to multinational organizations, GTT Communications Inc., announced the upgradation of the international network for Hamelin, a prominent European manufacturer of school and office products.
• October 2022- Batelco has announced an agreement with a cloud networking company offering connectivity, communication services, and software-defined infrastructure neutrality.one (N1).

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