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Managed Network Services Market Expands as Businesses Seek Outsourced IT Solutions for Network Management and Optimization


Managed Network Services Market Report Scope and Overview

The SNS Insider report highlights a market size of USD 67.90 billion in 2023, with a projected CAGR of 6.6% from 2024 to 2031. This growth signifies a growing focus on managed network services across various industries. The global Managed Network Services Market is poised for significant growth, reaching an estimated value of USD 113.22 billion by 2031. This expansion is primarily driven by the increasing demand for expertise in managing complex and critical networks that underpin modern businesses. As organizations undergo digital transformation and embrace cloud computing, the need for robust and secure network infrastructure becomes paramount. Managed network services offer a cost-effective solution, providing businesses with access to specialized skills and resources to handle network management tasks.

The rise of Small and Medium Enterprises (SMEs) is fueling the demand for managed network services. As SMEs invest more in IT to support their growth, they’re turning to managed services to leverage cloud computing, automate tasks, and explore new technologies. This frees up their limited internal IT resources to focus on core business activities. Additionally, the ongoing digital transformation trend creates complex network needs for businesses. Managed network services offer expertise, scalability, security, and efficiency in managing these critical networks, allowing companies to focus on their digital initiatives. Finally, the modern workforce is increasingly distributed, with employees working remotely from various locations and devices. Managed network service providers offer solutions to address the evolving security and network needs of such a scattered workforce, ensuring a reliable and secure connection for everyone.

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Some of the Major Key Players Studied in this Report are:

  • Fujitsu
  • IBM
  • Ericsson
  • Cisco
  • Comarch SA
  • Verizon
  • BT Group
  • Huawei
  • Alcatel-Lucent
  • Dell EMC (EMC Corporation)
  • Others

Geopolitical Tensions and Economic Slowdown

The Russia-Ukraine war has significantly impacted global markets and supply chains, with implications for the managed network services market. Disruptions in supply chains and increased commodity prices could affect the costs and operational efficiency of managed network services.

An economic slowdown could also dampen market growth. Reduced IT spending by businesses during an economic downturn could potentially hinder market expansion.

Managed Network Services Market Report

Market Segmentation and Sub-Segmentation Included Are:

By Type

  • Managed LAN
  • Managed Wi-Fi
  • Managed VPN
  • Managed WAN
  • Network Monitoring
  • Managed NFV
  • Managed Network Security

By Network Security

  • Managed Firewall
  • Managed IDS/IPS
  • Other Managed Network Security

By Verticals

  • Banking, Financial Services and Insurance
  • Retail and Ecommerce
  • IT and Telecom
  • Manufacturing
  • Government
  • Education
  • Healthcare
  • Media and Entertainment
  • Other Verticals

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Regional Developments

North America dominated the market in 2023, with a projected rise in demand driven by the increasing number of technology startups and continued adoption of cloud-based solutions. The Asia Pacific region is expected to witness the fastest growth rate, driven by substantial investments in data protection and cloud solutions. In Europe, the growth is attributed to the need for secure networking solutions for Software as a Service providers complying with data protection regulations.

Future Growth and Recent Developments

The future of the Managed Network Services Market appears promising. As businesses prioritize digital transformation and data security, the demand for managed network services is likely to remain robust. The recent launch of a new managed services division by Cloud5 Communications to support various industries further reinforces the growing market potential.

Key Takeaways

  • It offers a detailed segmentation analysis, enabling businesses to identify the most promising segments.
  • The report explores the impact of geopolitical tensions and economic slowdown on the market.
  • It highlights recent developments in the industry, keeping businesses informed about the latest trends.

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Table of Contents- Major Key Points

  1. Introduction
  2. Research Methodology
  3. Market Dynamics
    • Drivers
    • Restraints
    • Opportunities
    • Challenges
  4. Impact Analysis
    • COVID-19 Impact Analysis
    • Impact of Ukraine- Russia war
    • Impact of Ongoing Recession on Major Economies
  5. Value Chain Analysis
  6. Porter’s 5 Forces Model
  7. PEST Analysis
  8. Managed Network Services Market Segmentation, By Type
    • Introduction
    • Trend Analysis
    • Managed LAN
    • Managed Wi-Fi
    • Managed VPN
    • Managed WAN
    • Network Monitoring
    • Managed NFV
    • Managed Network Security
  9. Managed Network Services Market Segmentation, By Network Security
    • Introduction
    • Trend Analysis
    • Managed Firewall
    • Managed IDS/IPS
    • Other Managed Network Security
  10. Managed Network Services Market Segmentation, By Verticals
    • Introduction
    • Trend Analysis
    • Banking, Financial Services and Insurance
    • Retail and Ecommerce
    • IT and Telecom
    • Manufacturing
    • Government
    • Education
    • Healthcare
    • Media and Entertainment
    • Other Verticals
  11. Regional Analysis
    • Introduction
    • North America
    • Europe
    • Asia-Pacific
    • The Middle East & Africa
    • Latin America
  12. Company Profile
  13. Competitive Landscape
    • Competitive Benchmarking
    • Market Share Analysis
    • Recent Developments
  14. USE Cases and Best Practices
  15. Conclusion

About Us

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