Acumen Research and Consulting estimates that global managed network services market is expected to reach the market value of around US$ 75 Bn by 2027 and is anticipated to grow at a CAGR of around 6.2% in terms of revenue during the forecast period 2020 – 2027.
A managed network services is a communications network where a third party business provider maintains, builds, secures and controls. A diverse number of parties including lead network operators, system integrators and end users collectively create a network, whether through cloud networks or internally. Nevertheless, service providers are also responsible for the transfer of threats and uncertainties to third parties, allowing businesses to more directly concentrate on their key market priorities. Buying in one managed network service company helps the organization, at several times servers, switches, routers, firewall devices, etc, to outsource hardware, support and technological maintenance.
The report provides analysis of global Managed Network Services market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.
Decreasing operational expenses, growing workforce capabilities and versatility in personalized demands are some of the drivers of success for the global market of management network services. Besides, due to the penetration of the technologies, including cloud computing, mobility and big data, the managed network services market is experiencing increased growth across different vertical industries. The increased customer loyalty and productivity in business operations and are some of the key drivers of growth in the global managed network services market during the forecast era. The network access operated by service providers is offered by a cloud system or operated in-house. Manage network services promote the proper operation of the network in any enterprise, from big data to digital cloud, e-commerce and hosting. Emerging technologies such as SDN and the Internet of Things ( IoT) should provide the managed network services market with huge opportunities for growth in the immediate future.
In 2019, North America dominated the overall distribution market with significant market share. The rise can be due to a large number of MSPs in the field. In terms of ability to adopt new and evolving technology, the national market is known as competitive.
Asia Pacific is expected to experience substantial growth in the timeframe predicted. Cloud technologies are planned to be introduced and investments are gradually being made in data protection by many companies in the field. In fact, expanded investment for their business advancement is also expected to lead to growth through the introduction of new innovations such as cloud computing technology. The development of the managed services sector is expected to further fuel increasing demand in SMEs through emerging economies such as China and India.
The market research study on “Managed Network Services Market (Managed Network Services Market By Deployment: Cloud, On-Premise; Managed Network Services Market By End Use: Government and Public Sector, IT & Telecommunication, Healthcare and Life Sciences, BFSI, Manufacturing, Transportation & Logistics, Retail & Consumer Goods, Others; Managed Network Services Market By Organization Size: Large Enterprises, Small & Medium Enterprises) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers a detailed insights on the global Managed Network Services market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report covers global Managed Network Services market size, and segment markets by type, application, and geography along with the information on companies operating in the market. The Managed Network Services market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
The global Managed Network Services market is segmented as below:
Managed Network Services Market By Deployment
Managed Network Services Market By End Use
Government and Public Sector
IT & Telecommunication
Healthcare and Life Sciences
Transportation & Logistics
Retail & Consumer Goods
Managed Network Services Market By Organization Size
Small & Medium Enterprises
Managed Network Services Market By Geography
Middle East & Africa
Participants include major global players such IBM Corporation, Cisco, Accenture, LG Networks, Inc., Hewlett Packard Enterprise Development LP, AT&T Intellectual Property, HCL Technologies Limited, Huawei Technologies Co., Ltd., Wipro Limited, Others.
Rising need to cut down the deployment cost and downtime is a key driver of the market.
The market value of managed network services is anticipated to be around US$ 75 Bn in 2027.
It is anticipated to grow around 6.2% CAGR amid the forecast period 2020-2027.
The key players operating in managed network services market such as IBM Corporation, Cisco, Accenture, LG Networks, Inc., Hewlett Packard Enterprise Development LP, AT&T Intellectual Property, HCL Technologies Limited, Huawei Technologies Co., Ltd., Wipro Limited,, Others.
Asia Pacific is projected to grow at a fast pace during forecast period 2020-2027.
North America held maximum share in 2019.
Lack of skilled personnel and technicians.