Managed Network Services Market Set to Surpass $103.9 Billion by 2030

[Redding, California , 27-02-2024] - Meticulous Research®, a frontrunner in global market research, has unveiled its latest comprehensive report titled "Managed Network Services Market by Service Type, Organization Size, Deployment Mode, Industry Vertical, and Geography-Global Forecast to 2030."

According to this groundbreaking analysis, the managed network services market is poised to achieve a staggering valuation of $103.9 billion by the year 2030, exhibiting a robust CAGR of 8.1% from 2023 to 2030.

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The ascent of this market is propelled by the widespread adoption of modern campus networks, catalyzing service delivery acceleration, and an escalating demand for managed SD-WAN services, all geared towards boosting productivity. However, challenges such as mounting security and compliance concerns pose potential hurdles to market expansion. Nonetheless, significant growth avenues emerge from the rising demand for managed network services among small and medium-sized enterprises (SMEs) and the exponential surge in global IP and cloud traffic. Concurrently, complexities in monitoring multi-technology physical and virtual networks, coupled with impediments in service providers' marketing and sales endeavors, present challenges for market growth. Moreover, the market is witnessing notable trends, including the automation of network monitoring tools and the advent of cloud-managed network services.

The managed network services market is meticulously segmented based on service type, organization size, deployment mode, industry vertical, and geographical landscape. The report further provides comprehensive analyses of industry competitors, offering nuanced insights at regional and country levels.

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Key Insights:

Service Type Analysis:

In 2023, the managed network security services segment is anticipated to command the largest market share, attributed to a surge in demand for intrusion detection and prevention systems, and unified threat management systems. Furthermore, enterprises' escalating demand for real-time visibility into their security posture to mitigate risks and enhance regulatory compliance is bolstering segment growth, with projections indicating the highest CAGR during the forecast period.

Organization Size Analysis:

The large enterprises segment is anticipated to dominate the market in 2023, driven by an increasing demand for managed network services among major telecommunication service providers and large data centers. Conversely, the small and medium-sized enterprises (SMEs) segment is forecasted to exhibit a higher CAGR, fueled by the imperative to create agile, secure, and efficient work environments.

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Deployment Mode Analysis:

In 2023, the on-premise deployment segment is expected to seize a larger market share, propelled by robust acceptance among large enterprises and a growing demand for comprehensive security and control solutions. However, the cloud-based deployment segment is projected to witness a higher CAGR, driven by burgeoning complexities in network management and the need for streamlined network communications and security.

Industry Vertical Analysis:

The IT and telecommunications segment is poised to command the largest market share in 2023, driven by a pressing need to implement end-to-end managed LAN, WAN, and Wi-Fi services. Additionally, managed network services offer various benefits, including increased agility and operational efficiency, driving segment growth. Conversely, the BFSI segment is forecasted to register the highest CAGR, propelled by a growing focus on compliance and information security within the sector.

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Geographical Analysis:

North America is expected to lead the market in 2023, owing to established economies such as the U.S. and Canada and advanced IT infrastructure across the region. However, Asia-Pacific is projected to witness the highest CAGR during the forecast period, fueled by significant growth potential, especially in countries like China, India, and Japan, and a burgeoning adoption of cloud-based managed network services among SMEs.

Key Players:

Leading players in the managed network services market include IBM Corporation, Cisco Systems Inc., Microsoft Corporation, Telefonaktiebolaget LM Ericsson, Verizon Communications Inc., Huawei Technologies Co., Ltd., AT & T Inc., Fujitsu Limited, GTT Communications, Inc., Global Cloud Xchange, Sify Technologies, Wipro Limited, Lumen Technologies, T-Systems International GmbH, and Aryaka Networks, Inc.

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