Managed Network Services Market Worth $103.9 Billion by 2030

According to this latest publication from Meticulous Research®, the managed network services market is projected to reach $103.9 billion by 2030, at a CAGR of 8.1% from 2023 to 2030. The growth of this market is driven by the increasing implementation of modern campus networks to accelerate service delivery and the surging demand for managed SD-WAN services and managed network services to increase productivity. However, growing security and compliance concerns may restrain the market's growth. The rising demand for managed network services among small & medium-sized enterprises and the exponential growth in global IP & cloud traffic are expected to offer significant growth opportunities for the stakeholders in the managed network services market. Furthermore, the need to monitor complex multi-technology physical & virtual networks and obstacles in service providers' marketing & sales efforts are expected to create challenges for the growth of the managed network services market. Additionally, the automation of network monitoring tools and cloud-managed network services are prominent trends in this market.

Download Free Sample Report Here : https://www.meticulousresearch.com/download-sample-report/cp_id=5439

The managed network services market is segmented by service type (managed LAN services, managed Wi-Fi services, managed WAN services, managed network security services, managed IP VPN services, managed network monitoring services, managed data network services, managed SD-WAN services, managed NFV services, and other managed network services [infrastructure managed services, cloud-managed network services]), organization size (large enterprises and small & medium-sized enterprises), deployment mode (on-premise deployment and cloud-based deployment), and industry vertical (BFSI, retail & e-commerce, IT & telecommunications, manufacturing, government, education, healthcare, media & entertainment, and other industry verticals [transportation and energy & utilities]). The study also evaluates industry competitors and analyzes the market at the regional and country levels.

Based on service type, in 2023, the managed network security services segment is expected to account for the largest share of the managed network services market. The large market share of this segment is attributed to the surge in demand for intrusion detection and prevention systems and unified threat management systems and the growing need to resolve security issues in expedient and cost-effective processes. Furthermore, enterprises' rising demand for real-time visibility into their security posture to reduce risks, improve regulatory compliance, and ensure preemptive protection from known and emerging security threats supports the growth of this segment. Additionally, this segment is projected to register the highest CAGR during the forecast period.

Based on organization size, in 2023, the large enterprises segment is expected to account for the larger share of the managed network services market. The large market share of this segment is attributed to the growing demand for managed network services among large telecommunication service providers, the increasing demand for managed SD-WAN and managed VPN services among large data centers and campuses, and enterprises rising need to outsource their network infrastructure and operations.

However, the small & medium-sized enterprises segment is projected to register the higher CAGR during the forecast period. The growth of this segment is driven by factors such as the rising need to create agile, secure, and efficient work environments and the growing demand for SD-WAN & managed LAN services among SMEs operating in the education, retail, healthcare, and manufacturing industries. Small and medium-sized enterprises focus more on creating an agile and secure work environment. Hence, SMEs seek affordable managed network services to be more efficient in their business operations. With the emergence of automated managed network services, enterprises can effectively manage their IT operations while maintaining high efficiency. These factors drive the growth of this segment.

Speak to Analyst: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5439

Based on deployment mode, in 2023, the on-premise deployment segment is expected to account for the larger share of the managed network services market. The large market share of this segment is attributed to the high acceptance of managed network services among large enterprises, the rising demand for comprehensive security and control solutions, and the increasing deployment of managed network security services across on-premise data centers.

However, the cloud-based deployment segment is projected to register the higher CAGR during the forecast period. The growth of this segment is driven by factors such as the surging need to manage complex network requirements, manage & monitor network devices and service experience through cloud services, the growing need for smooth network communications, security, maintenance, migration operations, and reducing the complexity of security-related concerns.

Based on industry vertical, in 2023, the IT & telecommunications segment is expected to account for the largest share of the managed network services market. The large market share of this segment is attributed to the rising need to implement end-to-end managed LAN, WAN, and Wi-Fi services, automate routine workflows and processes of data centers through managed network services, the rising deployment of managed VPN and SD-WAN services among telecommunication data centers, and the growing need to reduce repetitive or mundane tasks, speed up processes, and drive down overheads. Furthermore, managed network services provide various benefits such as increased agility, operational efficiency, better security, and compliance, and automate routine procedures like patching, updating, reporting, scheduling, and monitoring, which has encouraged the adoption of managed network services in the IT & telecommunications industry, driving the growth of this segment.

However, the BFSI segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by factors such as the growing focus on compliance and information security in the BFSI sector, the increasing demand for automated IT infrastructure across the BFSI industry, the growing demand for cost-effective network monitoring services in the BFSI sector, and the rising need to monitor distributed network infrastructure.

Based on geography, the managed network services market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the managed network services market. North America's large market share is attributed to the presence of established economies such as the U.S. and Canada, the growing trend of outsourcing network infrastructure services in these countries, and advanced IT infrastructure implemented across the region. The North American market is growing due to the region's changing IT infrastructure landscape, especially among small and medium-sized enterprises (SMEs) that are continually focusing on outsourcing network infrastructure & security services.

However, Asia-Pacific is projected to register the highest CAGR during the forecast period due to the significant growth potential in APAC countries, such as China, India, and Japan, the increasing adoption of cloud-based managed network services among small & medium-sized enterprises, and the proliferation of small and medium-sized enterprises across various industries. Furthermore, the surging need to outsource management functions to cloud & managed services providers is anticipated to propel the growth of this regional market.

Key Players:

The key players operating in the managed network services market are IBM Corporation (U.S.), Cisco Systems Inc. (U.S.), Microsoft Corporation (U.S.), Telefonaktiebolaget LM Ericsson (Sweden), Verizon Communications Inc. (U.S.), Huawei Technologies Co., Ltd. (China), AT & T Inc. (U.S.), Fujitsu Limited (Japan), GTT Communications, Inc. (U.S.), Global Cloud Xchange (U.K.), Sify Technologies (India), Wipro Limited (India), Lumen Technologies (U.S.), T-Systems International GmbH (Germany), and Aryaka Networks, Inc. (U.S.).

Buy Now: https://www.meticulousresearch.com/Checkout/12225625

Key Questions Answered in the Report:

Which are the high-growth market segments based on service type, organization size, deployment mode, and industry vertical?

What is the historical market size for managed network services across the globe?

What are the market forecasts and estimates for 2023-2030?

What are the major drivers, restraints, opportunities, challenges, and trends in the global managed network services market?

Who are the major players in the global managed network services market, and what are their market shares?

About Us:

We are the trusted research partners for leading businesses around the world, providing market intelligence focused towards building revenue transformation strategies. Our research is used by Fortune 500 organizations to attain success by scouting next generation revenue opportunities well ahead of their competition.

Contact Us:
Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research

This release was published on openPR.