According to a research report "Managed Network Services Market by Type ( Managed LAN, Managed Wi-Fi, Managed WAN, Managed IP/VPN, Managed Network Security), Vertical, and Region( North America, Asia Pacific, Europe, Middle East Africa, Latin America) - Global Forecast to 2028" published by MarketsandMarkets, the Managed Network Services market is expected to reach USD 89.9 billion by 2028 from USD 65.7 billion in 2023, at a CAGR of 6.5 % during 2023–2028.
Browse 300 market data Tables and 50 Figures spread through 290 Pages and in-depth TOC on "Managed Network Services Market - Global Forecast to 2028"
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The diverse and competitive landscape of managed network services empowers businesses through enhanced efficiency. By outsourcing network management, organizations unlock optimized resource utilization and reduced expenses. Leveraging Managed Service Providers (MSPs) alleviates the burden of keeping pace with technology, allowing internal resources to focus on core competencies. Managed networks further provide global reach even for resource-constrained organizations, eliminating the complexities of building, monitoring, and maintaining internal infrastructure. This frees them to concentrate on their core business objectives. Compared to the costly and time-consuming in-house approach, particularly challenging for SMEs where cost is paramount, managed services offer a compelling alternative. They eliminate installation and management complexities, paving the way for increased agility, cost-effectiveness, and freedom for businesses of all sizes.
By type, managed network security is expected to register the fastest growth rate during the forecast period.
The segment dedicated to managed network security is poised for the most significant growth within the managed network services market. This surge is driven by the ever-present threat landscape that compromises systems, hinders productivity, and disrupts compliance efforts. By partnering with Managed Security Providers (MSPs), businesses safeguard their perimeters against diverse security threats. These providers implement robust controls and protections to defend network services and customer data from external exploits, continually validating technologies and procedures through internal and external audits. This comprehensive approach empowers businesses to confidently pursue innovation and growth, unburdened by the complexities of modern cybersecurity challenges.
By vertical, Healthcare is expected to register the fastest growth rate in the Managed Network Service market during the forecast period.
The healthcare vertical within the managed network services market anticipates accelerated growth driven by its significant technology investments. Cloud, mobility, and IoT adoption seek to enhance care quality, minimize costs, and maintain regulatory compliance and market competitiveness. Yet, healthcare institutions face immense pressure from competing resource demands, including regulations, budget constraints, staffing/skill gaps, compliance burdens, and cybersecurity threats. Managed network services offer a solution, empowering healthcare providers to effortlessly manage HIPAA-compliant networks, securely deploy and maintain mobile health applications, and seamlessly grant internet access to patients and visitors. This tailored approach enables healthcare institutions to navigate complex IT challenges while focusing on their core mission of delivering quality patient care.
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Based on region, Asia Pacific is projected to register the fastest growth rate during the forecast period.
The Asia Pacific region is compelling in the MNS market and is poised for significant growth over the forecast period. Key drivers include high-growth populations, burgeoning economies, and widespread adoption of mobile and internet technologies. This dynamic demography translates to a vast subscriber base for companies, further amplified by diverse geographies and the booming use of smart devices. To accommodate this surge, reliable and secure internet connectivity becomes paramount, propelling the demand for MNS. Notably, managed network security services reign supreme within the region, driven by the prevalence of cyberattacks and emerging infrastructure vulnerable to breaches. This underscores the critical role MNS plays in empowering businesses to navigate the complexities of connectivity and security in the fast-paced Asia Pacific market.
The report profiles key players such as IBM (US), Cisco (US), Ericsson (Sweden), Verizon (US), Huawei (China), AT&T (US), BT Group (UK), Telefonica (Spain), T-Systems (Germany), NTT (Japan), Orange (France), Vodafone (UK), Fujitsu (Japan), Lumen (US), Masergy (US), Colt Technology Services (UK), Telstra (Australia), CommScope (US) etc.
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Managed Network Services Market report published by Value Market Research, which studies the future outlook of the market.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the managed network services market include Accenture, Alcatel-Lucent Enterprise, AT Inc., CenturyLink Inc., Cisco Systems Inc., Ericsson, GTT Communications Inc., HCL Technologies, Hewlett Packard Enterprise Development LP, Huawei Technologies Co. Ltd., and International Business Machines Corporation (IBM).
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Managed Network Services Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/managed-network-services-market/download-sampleMarket DynamicsKey factors driving managed network services market growth are increasing digitization, increasing utilization of Cloud Business Intelligence (BI) and Analytics in various sectors, such as BFSI, and increasing incidence of cyber-attacks and data loss.
Other factors boosting market growth are dearth of skilled IT professionals, increasing demand for cost-effective solutions, and low IT budget to reduce cost.
Besides, increasing adoption of cloud and growing demand for managed network services in SMEs will create significant growth opportunities for managed network service providers.
