Press release
Managed Network Services Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Managed Network Services Market
The managed network services market size is expected to see rapid growth in the next few years. It will grow to $115.14 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to unified communication and collaboration services, managed wi-fi services expansion, focus on network performance optimization, security integration, computing growth. Major trends in the forecast period include focus on network performance monitoring, managed wi-fi services, unified communication services, 5g implementation, sd-wan adoption.
Market Overview -
A managed service provider (MSP) is a third-party organisation that administers a customer's IT infrastructure, operations, and services remotely. These are used by firms that provide clients with access to teams of professionals in a wide variety of network-related capabilities.
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Surging Adoption Of Mobile And Internet Fuels Growth In The Managed Network Services Market
Increasing adoption of mobile and internet is expected to propel the growth of the managed network services market going forward. The internet is a globally linked network system that allows for global communication and access to digital resources. Managed network services is the monitoring and upkeep of a company's information technology and is beneficial for internet users or IT field consumers with controlled costs and also reduces risks. For instance, in February 2023, according to a report published by Uswitch Limited, a UK-based online and telephone comparison, and switching service, 71.8 million mobile connections were active in 2022, which is an increase of 3.8% from 2021. There will be 68.3 million people living in the UK by 2025, and 95% of them will have smartphones in their hands. Additionally, in November 2022, according to a report published by the International Telecommunication Union, a Switzerland-based specialized agency, an estimated 5.3 billion people, accounting for 66 percent of the global population, use the Internet in 2022. This reflects a 6.1 percent growth rate from 2021. Therefore, the increasing adoption of mobile and the internet is driving the growth of managed network services.
Competitive Landscape -
Major companies operating in the managed network services market report are International Business Machines Corporation, Cisco Systems Inc., Telefonaktiebolaget LM Ericsson, Verizon Communications Inc., Huawei Technologies Co.Ltd., AT&T Inc., BT Group plc, T-Systems International GmbH, NTT DATA Corporation, Fujitsu Limited, Lumen Technologies Inc., Colt Technology Services Group Limited, Telstra Corporation Limited, Singtel Optus Pty Limited, GTT Communications Inc., Telefonica S.A, Brennan IT, Infosys Limited, Nokia Corporation, Dimension Data Holdings, Unisys Corporation, Capgemini SE, Cognizant Technology Solutions Corporation, Masergy Communications Inc., Windstream Holdings Inc., Zayo Group Holdings Inc., Comcast Corporation, Spectrum Enterprise, Orange S.A., Tata Consultancy Services Limited
Leads Technological Innovation In The Managed Network Services Market
Technological advancements are a key trend gaining popularity in the managed network services market. Major companies operating in the managed network services market are focused on developing new technological solutions to strengthen their position. For instance, in February 2022, Fujitsu, a Japan-based company operating in managed network services, introduced a new software virtualized radio access network (vRAN) technology with support for 5G Standalone (SA). This includes AI and quantum-inspired Digital Annealer technologies for enhancing computing resources. The developed vRAN technology would address the challenges of conventional vRANs, delivering high performance with low energy consumption and provide the potential to reduce overall system CO2 emissions by 50% while offering users high-quality, stable communications.
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Key Segments -
The managed network services market covered in this report is segmented -
1) By Type: Managed LAN, Managed Wi-Fi, Managed VPN, Managed WAN, Network Monitoring, Managed Network Security
2) By Deployment Mode: On-Premises, Cloud
3) By Organization Size: Small Businesses , Medium Businesses, Large Enterprises
4) By Verticals: Banking, Financial Services and Insurance, Retail and Ecommerce, IT and Telecom, Manufacturing, Government, Education, Healthcare, Media and Entertainment, Other Verticals
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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