Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by
Infinium Global Research on managed network services market provides an in-depth
analysis of segments and sub-segments in the global as well as regional managed
network services market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional managed network
services market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecast and dollar values of the global
managed network services market. According to the report, the global managed
network services market is projected to grow at a CAGR of 7.82% over the
forecast period of 2021-2027.
The managed network services
market was valued at USD 53.69 billion in 2020 and is expected to reach USD 89.83
billion in 2027, with a CAGR of 7.82% during the forecast period. Managed
network services are the practice of transferring day-to-day related management
responsibility as a strategic method for improved, effective, and efficient
inbuilt operations. These service providers have offered managed services for
broadband connections, VPNs, security services, as well as IP communications
for years. Managed network services are usually offered by an MSP (managed
services provider) on a subscription basis, with some fee that imitates the
network services, bandwidth, number of users, equipment, and service level
agreement (SLA) performance levels covered by the customer contract.
The factors such as the need to
unburden the IT staff, saving capital expenditure, and operational expenditure
are driving the global managed network services market. Organizations are more
concerned with IT cost reduction which will drive the demand in the near
future. Reduction in cost helps to monitor and manage the complete
telecommunication services as well as it improves the evolution and development
of new services as per the consumer’s preference. Furthermore, managed network
services are more time effective, reliable, and efficient as compared to the traditional
network infrastructure. Conversely, data privacy and security concerns hinder
the global market growth. One of the chief issues companies cite with managed
services is security and the potential for data leaks. Moreover, exponential
growth in global IP traffic and cloud traffic provides opportunities to market
players. Increasing demand among companies to manage business procedures is one
of the major factors pouring the growth of the market. The spread of COVID-19
has created an unprecedented situation for MSPs worldwide. The quality of
collaboration and communication is having a profound impact on both
productivity and employee output as businesses adapt to drastically changed
work environments. However, MSPs and IT consultancies are in a strong position
due to the pandemic period and in demand now more than ever. On the other side,
the effects of the pandemic on network traffic, and remote working, are causing
pressure on smaller service providers and captive centers. These service providers and captive centers
have not been as resilient as MSPs to handle the massive increases in workload.
Among the geographies, the North
American region is expected to hold the largest share in the global managed
network services market owing to the presence of numerous key players in the
region. Further, the region is also projected to account for the largest share
in the global managed network services market and is considered the most
advanced region in terms of cloud, AI, and machine learning technologies.
Moreover, the Asia Pacific region is projected to witness the fastest growth in
the global managed network services market during the forecast period owing to
the rising IT infrastructure. Additionally, the Asia Pacific region is home to
a creditable amount of cloud service providers, which are progressively
embracing the adoption of advanced technologies, such as cloud services in
developing economies such as China and India drive the managed network services
market in this region.
The report on global managed
network services market covers segments such as type, deployment type,
organization size, and application. On the basis of type, the sub-markets
include managed local area network [LAN], managed virtual private network [VPN],
managed wide area network [WAN], managed wi-fi, managed security, and managed
monitoring. On the basis of deployment type, the sub-markets include
on-premise, and cloud. On the basis of organization size, the sub-markets
include large enterprises, and SMEs. On the basis of application, the
sub-markets include IT & Telecom, BFSI, healthcare, manufacturing,
government, and retail & consumer goods.
The report provides profiles of
the companies in the market such as AT&T Inc., BT Group Plc, CenturyLink
(Lumen), China Telecommunication Corporation Ltd., Cisco Systems, Huawei
Technologies Co., Ltd., IBM Corporation, Colt Technology, Services Group Ltd.,
and DXC Technology Company.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of managed network services market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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