Cloud Managed Wireless Networks Market
Cloud-managed LAN solutions perform functions of a normal WiFi controller and SDN Controller and facilitate coordination of network devices. It helps in unifying the wired and wireless elements of the network. Organizations are investing in cloud-managed LAN to support the ongoing trend of bring your own devices (BYOD) and choose your own devices (CYOD). Furthermore, the solution has also gained popularity due to increasing investments in smart city projects funded by the governments of developed and developing economies. The provision for internet facilities in public spaces is extensively supported by the growth of the cloud-managed LAN services.
The fact that cloud-managed LAN enables smooth functioning of heterogeneous networks (HetNets) is likely to attract investments in the coming years. It has been observed that a lack of standardization prevails in terms of connectivity and operability. It can be seen as a restraint for now, but, the vendors are working on sophistication of the technology. All these ensure that the future for cloud-based wireless LAN market is set to remain lucrative. In addition, the increasing inclination towards managed Wi-Fi solutions is also projected to encourage the adoption of cloud-managed LAN over the next couple of years.
Which Verticals Are Leveraging Cloud-managed LAN at Present?
Internet services have penetrated across all the major industries. Some of the industry domains that are prognosticated to prompt growth potential for cloud-managed LAN are - IT and telecom, BFSI, transportation and logistics, government and defense, travel and hospitality, education, manufacturing, and media and entertainment. Among these, it has been analyzed that the It and telecommunication industry is set to provide a major boost to the adoption rate of cloud-managed LAN solutions. With the rise in income levels, the sales for smartphones and other electronic gadgets have been skyrocketing. This, in turn, has called for an expansion of the network capacity to support the rising penetration of internet services. The leaders of the IT and telecommunications industry are investing in cloud-managed LAN to cater to the rising demand for network infrastructure.
Regional Analysis
The geographical analysis of the global cloud managed LAN market has been done for North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
North America accounted for the largest market share in the cloud-managed LAN market which can be attributed to the presence of tier I vendors and early adoption of cloud solution associated with highly skilled expertise. Additionally, the US is expected to be a dominant region in the market owing to increased demand for dynamic delivery of applications and services in real-time offered by tier I vendors.
Europe accounted for the second spot in the global cloud managed LAN market in terms of market size. The European market has been divided into the UK, Italy, Spain, Germany, France, and the rest of Europe. The UK accounted for the largest market share in 2018 and is expected to continue to dominate the market whereas Germany is expected to exhibit the highest CAGR during the forecast period. The market growth is attributed to the exponential growth of users and devices in highly connected ecosystems, access to data in hybrid cloud environments, and increasing demand for secure networks. The enterprises across the European region are witnessing the adoption of intent-based networking that enables them to expand its networks solution from SD-WAN to SD-LAN, offering multiple domain segmentation, automation and analytics solutions across verticals.
The market in Asia-Pacific is expected to be the fastest-growing from 2019 to 2025. The regional market has been classified as China, Japan, India, Australia, South Korea, Singapore, and the rest of Asia-Pacific. Emerging economies such as India and China are witnessing huge traction for cloud-based managed services. Apart from these economies, developed economies such as Australia, Singapore, and South Korea are witnessing a growing demand for cloud technology which has led to both their domestic and foreign IT vendors launching new cloud services for their end users.
Lack of technical expertise, interoperability issues, and emphasize on the modernization of legacy networks with the help of cloud-based solution are likely to give rise to a gradual growth of South America and the Middle East and Africa cloud-managed LAN market.
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Cloud Managed Wireless Networks Market The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Cloud Managed Wireless Networks Market.
The growth sectors of the Cloud Managed Wireless Networks Market are identified with precision for a better growth perspective.The cloud-managed LAN market is gaining much traction in the present years owing to the ongoing trend of BYOD in businesses across the globe.
On this, Market Research Future study claims the global cloud-managed LAN market to touted to rise by achieving a valuation of USD 1,183.8 Million by 2025 by attaining a CAGR of 12.3%, during the forecast period 2019-2025.
Apart from this, as the business requirements are dynamic, customers are beholding for new solutions and services that can be instigated in today’s unceasing changing technology.
The introduction of gen-next integrated ICT services includes a vast range of professional and integrated services that are now likely to grow to meet the rising demand from businesses operating in analytics, big data, IoT, and infrastructure management.
These factors have also equally contributed to driving the adoption of LAN technologies.On the flip side, the influence of lack of standards in terms of connectivity and operability of Wi-Fi solutions might hinder the growth of the overall cloud-managed LAN market during the assessment period.
The global managed services market size is expected to reach USD 376.13 billion by 2025, according to a new study conducted by Grand View Research, Inc.
It is anticipated to expand at a CAGR of 11.7% during the forecast period.
Growing dependence of enterprises on IT assets for driving their business productivity coupled with the need for specialized Managed Service Providers (MSPs) and cloud-based managed services is expected to drive the growth.
Growing need to reduce downtime of systems is expected to further fuel the market growth.The MSPs provide migration assistance to organizations moving their services from private to public cloud.
They also offer differentiated cloud managed services which help enterprises in their decision-making processes.
Implementation of these services considerably reduces the IT operational costs and helps improve organizational flexibility and efficiency.Increasing IT expenditure across the globe is anticipated to create growth opportunities for the managed services market over the forecast period.
