The managed network services market is projected to grow from USD 52.7 billion in 2020 to USD 71.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 6.3% from 2020 to 2025
The managed network services market is projected to grow from USD 52.7 billion in 2020 to USD 71.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 6.3% from 2020 to 2025.
NEW YORK, June 1, 2020 /PRNewswire/ --
New connectivity demands increase complications in the IT environment boosting the adoption of managed network services
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The managed network services market is projected to grow from USD 52.7 billion in 2020 to USD 71.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 6.3% from 2020 to 2025. Managed network services offer a systematic approach to manage an organization's network and security needs. Managed network services enable effective monitoring and reduce support time, enabling enterprises to prevent network downtime and hiccups. The key managed network services types include managed Local Area Network (LAN), managed Wireless Fidelity (Wi-Fi), managed Virtual Private Network (VPN), managed Wide Area Network (WAN), network monitoring, and managed network security. The adoption of managed network services is gaining acceptance globally, as it offers reduction in operational as well as capital expenditure and helps manage network and security functions, effectively. Managed network service providers address the needs and expectations of enterprises in-depth, with respect to their changing needs and requirements. Partnerships of enterprises with managed network service providers help the provider monitor and maintain the enterprise network 24*7, proactively handle fault alert notification, reduce the Total Cost of Ownership(TCO), improve productivity, and maximize the network uptime, thus giving the enterprise opportunity to grow its businesses.
• By type, the managed WAN segment to account for a largest market size during the forecast period
By type, the managed WAN segment is expected to record at the largest market size during the forecast period.As WAN connects every part of the organization it is a mission-critical task of keeping the network operating at peak performance, which takes time, effort, and focus.
Hence, organizations outsource their network services.Managed WAN services help organizations easily collaborate with partners and suppliers, speed delivery of high-demand products, and create better experiences for customers by seamlessly connecting them with employees and self-service systems.
The managed SD-WAN solution allows managed service providers to deliver a comprehensive, cost-effective managed SD-WAN service, which includes advanced connectivity and security functions. MSPs help enterprises distribute WAN traffic securely over carrier services, including IPVPN and broadband, enabling them to route traffic on the most efficient channel without sacrificing application performance.
• By vertical, the BFSI vertical to hold the largest market size during the forecast period
The Banking, Financial Services and Insurance (BFSI)vertical offers tremendous opportunities for the growth of the managed network services market, as the vertical faces a significant need for improved connectivity and internet access to carry out financial transactions with ease and better security.The BFSI vertical is a highly regulated vertical with a large number of compliances and regulations.
To cope with the changing regulations, BFSI institutions must evolve in terms of technology adoption to meet the regulatory needs.Managed network services enable financial institutions to increase their productivity and provide improved services to their customers.
Financial institutions outsource their network to MSPs, which provide reliable networking and infrastructure management services to remotely manage the network.
• By region, Asia Pacific to grow at the highest CAGR during the forecast period
The market of Asia Pacific (APAC) is projected to grow at the highest CAGR during the forecast period.The vast and diverse geographies and a wide adoption of smart devices and internet are mandating the need for reliable and secure internet connectivity, thus driving the market for managed network services.
The major countries such as China, India, Australia, and Japan, would witness high growth rates in this region.APAC demonstrates a combination of high growth, developing economies, and increasing adoption of mobile and internet.
The number of internet users in this region have grown by a great extent; hence, several companies in the region have started deploying advanced communications solutions to cater the rising communication demand for high-speed data and superior voice quality. All these reasons increase the demand for better network management, network visibility and control, and wireless communication, leading to the adoption of managed network services in the region.
The breakup of the profiles of the primary participants is given below:
• By Company Type: Tier 1 – 15%, Tier 2 – 40%, and Tier 3 – 45%
• By Designation: C-Level – 40%, Director Level – 35%, Managers–15%, and others -10%
• By Region: North America – 45%, Europe – 15%, APAC – 30%, and RoW – 10%
The following key managed network services vendors are profiled in the report:
• IBM (US)
• Fujitsu (Japan)
• Cisco (US)
• Ericsson (Sweden)
• Verizon (US)
• Comarch SA (Poland)
• Huawei (China)
• BT Group (UK)
• AT&T (US)
• T-Systems (Germany)
• Orange Business Services (France)
• DXC Technology (US)
• NTT (Japan)
• CenturyLink (US)
• Global Cloud Xchange (UK)
• TATA Communications (India)
• Colt (UK)
• Sify (India)
• Telstra (Australia)
• Sprint (US)
• GTT (US)
• Brennan IT (Australia)
Research Coverage
The managed network services market is segmented into the managed network services market by type (Managed LAN, Managed Wi-Fi, Managed WAN, Managed VPN, Network Monitoring, and Managed Network Security [Managed Firewall and Managed Unified Threat Management(UTM)]), Organization Size (Large Enterprises and SMEs), Vertical (BFSI, Consumer Goods and Retail, Manufacturing, Healthcare and Life Sciences, Education, Telecom, IT, Energy and Utilities, Media and Entertainment, and Others [Transportation, Logistics, and Hospitality]), and Region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews; services; key strategies; new service and product launches; partnerships, agreements, and collaborations; business expansions; and competitive landscape associated with the managed network services market.
Reasons to Buy the Report
The report would help the market leaders and new entrants in the following ways:
• It comprehensively segments the managed network services market and provides the closest approximations of the revenue numbers for the overall market and its subsegments across different regions.
• It would help stakeholders understand the pulse of the market and provide information on the key market drivers, restraints, challenges, and opportunities in the market.
• It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes a competitor ecosystem, new service developments, partnerships, and acquisitions.
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