The managed network services market is estimated to be appraised at USD 61.9 Billion in 2022, anticipated to reach USD 130.9 billion by 2032 with a CAGR of 7.8% during the forecast period from 2022 to 2032.
| Report Attribute | Details |
|---|---|
| Managed Network Services Market Value (2022) | USD 61.9 Billion |
| Managed Network Services Market Anticipated Forecast Value (2032) | USD 130.9 Billion |
| Managed Network Services Market Projected Growth Rate (2022 to 2032) | 7.8% |
Demand for managed network services rises as it is widely used for communicating network that is built, operated, secured and managed by a third-party service provider, which is anticipated to propel the managed network services market growthduring the forecast period from 2022 to 2032.
Rising in prime network providers (generally a telecom company), system integrators and end-use enterprises together in collaboration to set up a network, either over cloud infrastructure or in-house, are estimated to increase in the managed network services market share.
However, the service is always managed by the service providers, thus, transferring the risk and complexities associated with the third party, enabling businesses to focus more on their core business objectives which rising the managed network services market trends & forecasts.
The adoption of managed network services increases as the provider allows the organization to outsource the infrastructure, support and technical maintenance, also much time inclusive of servers, routers, switches, firewall software, and more.
Managed network services include managing Ethernet WAN, MPLS, Internet Leases Line, etc. As these forms are the basis of modern-day IP-based communication in most organizations, demand for managed network servicesis on the rise.
Increasing the digital transformation is another factor to be expected to grow in themanaged network market statisticsin the forthcoming year. Several companies are likely to adopt digital technologies to rise in the adoption of managed network services.
Lack of IT budget, cybercrime and an increase in the number of small & medium enterprises are boosting the managed network services market size in the coming year.
The North American region is likely to dominate the managed network services market statistics with a share of 32.1% all around the region and is likely to enlarge the market during the forecast period.
All these factors are likely to increase the sales of managed network services during the forecast period from 2022 to 2032.
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The major factors boosting managed network services market trends are rising globalization, digitization and increasing use of cloud and BI/Analytics across all industry verticals.
With rising operational complexity due to organizations integrating more cloud, social, mobile, and big data, most CIOs are increasingly considering managed network services as a part of their network strategy, which increases the managed network services market key trends & opportunities.
The networks become more complex, and the need for managed services is getting higher in preference as financial companies and banks continue to integrate advanced technologies with their operations and expand their geographical reach to increase managed network services future trends in coming years.
Managed network services are expected to see high adoption in the BFSI sector. Furthermore, with increasing incidences of network security breaches, companies increasingly prefer adopting managed network services in-house maintenance to ensure high expertise deployment.
Lack of IT workforce skilled with expertise in the cloud era is another factor for organizations triggering them to deploy in the sales of managed network services.
Over the forecast period, as an organization become dependent on technologies such as IoT, AI, Augmented and Virtual Reality, Robotics and Automation, Network Services, Security, and Network Uptime is of crucial importance to rise the managed network services market growth.
The North American region is likely to dominate the managed network services market statistics with a share of 32.1% all around the region and is likely to enlarge the market during the forecast period.
Europe is expected to grow with the managed network services market share of 21.7% during the forecast period.
The Europe managed network services market by country 2020 was dominated by the German market. The increased investment in cloud computing technologies is what essentially propels Europe's managed network services market.
The changing market and technologies are causing a change in business paradigms. With their contemporary techniques and enhanced technology, new managed network service market competitors are providing fierce rivalry to established participants.
Cloud-based network management software is offered by Ciena. It offers software tools that support network planning and infrastructure management across the course of the infrastructure's life. WDM solutions and photonic layer solutions make up its optical technology offering.
A network performance management system is offered by SevOne. To guarantee application performance and dependability, it provides real-time monitoring, debugging, and performance reporting solutions.
Several key competitors in the managed network services market are focusing on building a lion’s share in the market by adopting their various methodologies and plans. Some of the key competitors in the growth of managed network services market trends are
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In 2021, South Korea and Cisco announced their collaboration in the Cisco country’s digital acceleration program all around the country as it is a worldwide leader in technology.
In 2021, AT&T provides the ERIKS in the digital transport networks to rise in the managed network in the US.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 7.8% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
Service, End User, Region |
| Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Verizon Communications Inc.; Telstra Global; AT&T Inc.; China Telecom; NTT Communications; HCL Technologies; Wipro Limited; Nokia Corporation; IBM Corporation; Cisco Systems Inc.; Vodafone Group plc; Tata Communication; Bharti Airtel; Reliance Communication; Sift Technologies Ltd. |
| Customization | Available Upon Request |
The managed network services market is likely to advance at a CAGR of 7.8% through 2032.
North America region is set to hold a managed network services market share of 32.1% by 2032.
Managed network services market is expected to account for USD 130.9 billion by 2032.
| Estimated Market Value (2022) | USD 2.4 Billion |
|---|---|
| Projected Market Value (2033) | USD 35.3 Billion |
| CAGR (2023 to 2033) | 27.8% |
| Market CAGR (2022 to 2032) | 12.5% |
|---|---|
| Market Size (2022) | USD 1.3 Billion |
| Market Size (2032) | USD 8.9 Billion |
| Market Size (2022E) | USD 4.1 Billion |
|---|---|
| Projected Market Value (2032F) | USD 7.8 Billion |
| Market Growth Rate (2022 to 2032) | 6.6% |
| Market Size (2022) | USD 2,157.34 Million |
|---|---|
| Market Revenue Forecast (2032) | USD 3,673.0 Million |
| Market CAGR (2022 to 2032) | 5.5% |
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