Press release
Strong Growth Ahead: Managed Network Services Market Size To Grow At Arecord 12.4% Cagr By 2029
Managed Network Services
How Big Is the Managed Network Services Market Size Expected to Be by 2034?
There has been a robust expansion in the market size of managed network services in the past few years. It is projected to surge from $75.18 billion in 2024 to $81.78 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.8%. This growth during the historical period can be linked to challenges related to cybersecurity, upgrades to legacy infrastructure, the shift to cloud platforms, the rise of telecommuting and remote jobs, as well as the increase in bandwidth demand.
The market size for managed network services is forecasted to experience swift expansion in the coming years, increasing to $130.59 billion in 2029 with a compound annual growth rate (CAGR) of 12.4%. This predicted growth within the forecasted period is due to factors like the enhancement of unified communication and collaboration services, expansion of managed wi-fi services, efforts towards network performance optimization, security integration, and computing growth. Notable trends during this projected period will be a concentration on network performance monitoring, managed wi-fi services, unified communication services, 5G implementation, and the adoption of SD-wan.
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What Are the Emerging Segments Within the Managed Network Services Market?
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
Subsegments:
1) By Managed LAN: Local Area Network Design, LAN Management And Support, LAN Optimization
2) By Managed Wi-Fi: Wi-Fi Network Design, Wi-Fi Access Point Management, Guest Wi-Fi Solutions
3) By Managed VPN: Site-To-Site VPN Services, Remote Access VPN Services, VPN Configuration And Management
4) By Managed WAN: Wide Area Network Design, WAN Optimization, SD-WAN Solutions
5) By Network Monitoring: Performance Monitoring, Traffic Analysis, Network Health Monitoring
6) By Managed Network Security: Firewall Management, Intrusion Detection And Prevention, Security Policy Management
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What Long-Term Drivers Are Shaping Managed Network Services Market Trends?
The expanding use of mobile devices and the internet is projected to fuel the managed network services market's growth. The internet, a network system connected globally, facilitates worldwide communication and access to digital resources. Managed network services encompass the monitoring and maintenance of a firm's IT infrastructure and are advantageous for internet consumers or individuals in the IT sector since they have regulated costs and minimized risks. For example, a report published by Uswitch Limited, an online and telephone comparison and switching service based in the UK, stated in February 2023 that an impressive 71.8 million mobile connections were active in 2022, marking a 3.8% increase from the previous year. By 2025, the UK's population is anticipated to reach 68.3 million, 95% of whom will own smartphones. Moreover, a report from the Switzerland-based International Telecommunication Union published in November 2022 highlighted that an estimated 5.3 billion individuals, or 66 percent of the world's population, utilized the internet in 2022, marking a 6.1 percent rise from 2021. Consequently, the increasing usage of mobile technology and the internet is responsible for the growth of managed network services.
Who Are the Top Competitors in Key Managed Network Services Market Segments?
Major companies operating in the managed network services market 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, accenture* PLC, 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
What Managed Network Services Market Trends Are Gaining Traction Across Different Segments?
The growing emphasis on technological development is an emerging trend in the managed network services market. Major players in the market are focusing on the invention of new tech solutions to solidify their market standing. For example, Fujitsu, a managed network services firm from Japan, launched a new software-supported virtualized radio access network (vRAN) technology designed for 5G Standalone (SA) in February 2022. The advanced technology, which incorporates AI and quantum-inspired Digital Annealer technologies, is designed to boost computing resources. The newly developed vRAN technology can address the issues related to traditional vRANs. It offers high performance, low energy usage, and could potentially cut system-wide CO2 emissions by 50%, ensuring users enjoy reliable, high-quality communication.
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Which Regions Are Becoming Hubs for Managed Network Services Market Innovation?
North America was the largest region in the managed network services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the managed network services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Managed Network Services Market?
2. What is the CAGR expected in the Managed Network Services Market?
3. What Are the Key Innovations Transforming the Managed Network Services Industry?
4. Which Region Is Leading the Managed Network Services Market?
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