Managed Network Services Market Latest Industry Growth, Trends, Revenue, Key Suppliers and Demand Projections by 2028, The Insight Partners

According to our latest market study on "Managed Network Services Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type, Deployment, Organization Size and End-Use Vertical" the market is expected to grow from US$ 60358.48 million in 2022 to US$ 112,441.87 million by 2028; it is anticipated to grow at a CAGR of 10.9% from 2022 to 2028. Managed Network Services market report offers one of the best solutions to know the trends and opportunities in Managed Network Services industry. The report contains top to bottom analysis and estimation of various market related factors that are incredibly crucial for better decision making. Furthermore, this Managed Network Services research report takes into consideration several industry verticals such as company profile, contact details of manufacturer, product specifications, geographical scope, production value, market structures, recent developments, revenue analysis, market shares and possible sales volume of the company. Thus, the report makes businesses to focus on the more important aspects of the market.

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The digital transformation uses technologies to create new or modify existing business processes and customer experiences to meet the ever-changing business environment. Digital transformation has common goals, such as improving efficiency, adding value, and promoting innovation. As companies are increasingly adopting digital transformation to deliver better customer experiences and compete more effectively, there is a growing need for services that support such modernization of information technology (IT) within different enterprises. The rising digital transformation is also boosting certain other factors, such as migration of workloads to the cloud and rapid growth in data generation. Companies continually migrated their workloads to the cloud for better flexibility and portability. As such migrations are relatively complex, large enterprises and small and medium enterprises (SMEs) seek MSPs for managed network services. Considering the advantages provided by MSPs in aiding technology adoption, the fast digital transformation is expected to boost the managed network services market size strongly.

The Key Players In The Global Managed Network Services Market Are:

•Cisco Systems, Inc.
•Cognizant
•Fujitsu Limited
•Huawei Technologies Co., Ltd.
•Kyndryl Holdings, Inc.
•NTT Limited
•Tata Consultancy Services Limited
•Verizon
•HCL Technologies

Impact of COVID-19 Pandemic on Managed Network Services Market Growth

During the COVID-19 outbreak, the continuous growth in COVID-19 patient pool size compelled government authorities to impose stringent travel bans across the US and other regions in the first three quarters of 2020, which led to significant disruptions of the normal functioning of various enterprises. Implementing containment measures such as trade bans, travel restrictions, and workplace workforce limitations impacted various businesses' manufacturing, supply, and sales. Hence enterprises had to adapt to the changing environment to remain afloat and minimize losses. Hence enterprises strongly adopted work-from-anywhere (WFA) trends and digital transformation.

Since most enterprises could not handle such drastic changes, demand for managed network services increased profoundly. Such service providers aided enterprises, of different sizes, in efficiently adapting to the changed circumstances without the requirement for heavy investment in IT infrastructure. This strongly boosted managed network services market growth. Key managed network services market players witnessed a sharp increase in demand, increasing their market share. Post Q4 of 2020, most countries eased the restrictions, but enterprises continued their alignment with the service providers owing to the cost savings. Hence, the pandemic positively impacted the managed network services market growth.

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The Segments and Sub-Section of Managed Network Services Market are shown below:

By Type (Managed LAN, Managed Network Security, Managed Monitoring, Managed VPN, Managed WAN, and Managed Wi-Fi)

By Deployment (Cloud and On-Premise), Organization Size (Large Enterprises and SMEs)

By End-Use Vertical (BFSI, Government, IT & Telecommunication, Manufacturing, Media & Entertainment, Retail & e-Commerce, and Others)

The managed network services market, by deployment, is segmented into cloud and on-premise. On-premise is expected to remain the largest segment during the forecast period, despite recording much slower growth rates than the cloud segment. Hybrid setups have also been considered under the on-premise segment. The cloud segment is growing considerably due to several advantageous characteristics, such as scalability and cost-effectiveness, which are expected to propel the growth of the managed network services market. The cloud-managed network services platform also reduces repair and maintenance costs and enhances customer satisfaction. The subscription model (which includes the monthly or yearly model) is mostly used to deliver such services.

The managed network services market is segmented on the basis of type, deployment, organization size, and end-use vertical. Based on type, the market is segmented into managed LAN, managed network security , managed monitoring, managed VPN, managed WAN, and managed Wi-Fi. Based on deployment, the managed network services market is bifurcated into cloud and on-premise. By organization size, the market has been segmented into large enterprises and SMEs.

Based on application, the managed network services market has been segmented into BFSI, government, IT & telecommunication, manufacturing, media & entertainment, retail & e-commerce, and others. Based on geography, the managed network services market is primarily segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM).

According to the Regional Segmentation the Events Market provides the Information covers following regions:

•North America
•South America
•Asia & Pacific
•Europe
•MEA (Middle East and Africa)

Answers that the report acknowledges:

•Market size and growth rate during forecast period.
•Key factors driving the Managed Network Services Market.
•Key market trends cracking up the growth of the Managed Network Services Market.
•Challenges to market growth.
•Key vendors of Managed Network Services Market.
•Detailed SWOT analysis.
•Opportunities and threats faces by the existing vendors in Global Managed Network Services Market.
•Trending factors influencing the market in the geographical regions.
•Strategic initiatives focusing the leading vendors.
•PEST analysis of the market in the five major regions.

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