Press release
Managed Network Services: A Booming Market for Effortless Network Management
The unique selling proposition (USP) of MNS lies in its ability to deliver a cost-effective and scalable solution. Businesses can leverage the expertise of MNS providers without the need to invest in expensive hardware, software, or specialized personnel. This translates into significant cost savings, improved network efficiency, and enhanced security posture.
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Managed Network Services Market Overview:
The managed network services market size is expected to register an significant CAGR of ~10% during the forecast period and is projected to reach a market value of USD 134.7 billion by 2030. Managed network services are networking applications, operations, and services that businesses contract to a managed service provider (MSP) to be remotely run, monitored, and maintained. Basic network access and transport services, such as classic leased WAN and LAN lines, to modern software-defined WAN (SD-WAN) connections and virtual network services, are all part of managed network services.
Competitive Landscape
The global market for managed network services has witnessed significant growth over the forecast period due to the growing number of managed network services players. There are several domestic, regional, and global players operating in the managed network services market who continuously strive to gain a significant share of the overall market. The key market participants are investing in research & development activities to drive organic growth and increase their market shares. In addition, these players are engaging in new product developments to expand and strengthen their existing portfolios and acquire new consumers.
Key Players
• Cisco Systems Inc.
• Tata Communications Inc.
• Colt Technology Services
• BT Group PLC
• DXC Technology Company
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Latest News:
The recent acquisition of MSP Company X by leading IT solutions provider Company Y signifies the ongoing consolidation within the MNS market. This move is expected to create a stronger entity with expanded service offerings and a wider customer base.
Market USP:
The managed network services market sets itself apart by offering comprehensive solutions and expert management of network infrastructure. Its USP lies in its ability to provide end-to-end management and support, covering network design, implementation, monitoring, troubleshooting, and security. This holistic approach allows organizations to focus on their core competencies while leveraging the expertise of managed service providers (MSPs) to ensure network reliability, performance, and security. From small businesses to large enterprises, the market caters to a wide range of industries, tailoring solutions to meet specific needs and requirements.
Advantages of Managed Network Services:
Implementing managed network services brings several advantages to organizations. Firstly, it allows businesses to access a team of experts with specialized knowledge and experience in network management, ensuring optimal performance and minimizing downtime. Secondly, organizations can benefit from cost savings by leveraging the economies of scale offered by managed service providers, eliminating the need for substantial upfront investments in network infrastructure and ongoing maintenance costs. Additionally, managed network services enhance network security by implementing robust measures such as firewalls, intrusion detection systems, and continuous monitoring to detect and prevent potential threats. Moreover, businesses can focus on their core competencies and strategic initiatives, knowing that their network infrastructure is in capable hands.
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Regional Insights:
The managed network services market has a global presence, with North America leading the market share due to the high adoption rate of managed services and the presence of major MSPs. Europe and Asia Pacific are also significant players in the market, driven by the increasing demand for network optimization, digital transformation initiatives, and the emergence of cloud-based services. Latin America and the Middle East are witnessing steady growth, with businesses recognizing the benefits of outsourcing network management to focus on driving innovation and growth.
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