The global Managed Network Services Market size to grow from USD 57.4 Billion in 2021 to USD 82.3 Billion by 2026, at a Compound Annual Growth Rate (CAGR) of 7.5% during the forecast period. The presence of various key players in the ecosystem has led to competitive and diverse market. Businesses rely on outsourced network management to generate efficiencies, resulting in better usage of resources and reduced expenditure. Organizations turn to MSPs for help rather than struggling to keep pace with technology. With managed network services, global network services are made available for organizations that do not have global resources available internally, eliminating the hassle of building, monitoring, and maintaining their network and giving them the freedom to focus on the core business. Hence, managed network services are an attractive alternative to the costly, time-consuming business of in-house network management services, which are difficult to install and manage for SMEs where cost is a significant factor.
The managed network security to record a higher growth rate during the forecast period In the managed network services market by type, the managed network security is expected to record a higher growth rate during the forecast period.The threats to systems and data impede business innovation, limit productivity, and damage compliance efforts.
Managed network security services protect enterprise perimeter from all manner of security threats. MSPs employ strong security controls and safeguards to protect enterprise network services and customer information from external exploits, and continuously verify technologies and security operational processes through internal and external compliance audits.
Large Enterprises are expected to hold a larger market share during the forecast period By Organisation size, large enterprises are expected to hold the largest market size.The major reason for large enterprises to adopt managed network services is consistent and reliable services with a global reach and operational cost reductions.
Large enterprises these days realize outsourcing some of the network operations is beneficial; hence, adopt managed network services. These enterprises work under tremendous pressure and time constraints to uphold their position in the market and maintain their customer base.
Cloud Deployment is expected to have a higher growth rate during the forecast period By Deployment Mode, cloud is expected to have a higher growth rate.Cloud-managed network service providers manage an enterprise’s technology infrastructure or end-user systems.
Services are provided using the subscription model.MSPs monitor and manage servers and other hardware, software, and applications.
They offer helpdesk services and storage and backup of data and software. MSPs upload and configure the system components to ensure customers are fully operational with updated hardware and software.
BFSI segment is expected to have a larger market size during the forecast period By Verticals, BFSI segment is expected to hold the larger market size during the forecast period.BFSI 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.
Financial institutions and insurance firms handle crucial commercial data, such as transaction passwords, account numbers, and credit/debit card details, which need the utmost security.
APAC to have a higher growth rate during the forecast period By region, APAC to grow at the highest CAGR during the forecast period.The enormous population in the region has led to an extensive pool of subscriber base for companies.
The vast and diverse geographies and the wide adoption of smart devices and internet mandate the need for reliable and secure internet connectivity, driving the market for managed network services. The number of internet users in this region has grown by a great extent; hence, several companies in the region have started deploying advanced communications solutions to cater to the rising communication demand for high-speed data and superior voice quality. • By Company Type: Tier 1 – 15%, Tier 2 – 40%, and Tier 3 – 45% • By Designation: C-level – 40%, Directors – 35%, Managers – 15% and Others – 10% • By Region: North America –45%, Europe –15%, APAC – 30%, ROW -10%
The report covers the competitive landscape and profiles major market players, including 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), Singtel (Singapore), GTT Communications (US), Global Cloud Xchange (UK), Brennan IT (Australia), Sify (India), Aryaka Networks (US), SCloudX (US), Optanix (US), DXC Technology (US), Oman Data Park (Oman), Servsys (US), FlexiWAN (Israel), Bigleaf (US), Wipro (India) and Comarch (Poland). These players have adopted several organic and inorganic growth strategies, including new product launches, partnerships and collaborations, and acquisitions, to expand their offerings and market shares in the global managed network services market.
Research coverage The market study covers the Managed Network Services market across different segments.It aims at estimating the market size and the growth potential of this market across different segments based on type, deployment mode and organization size with regions covered.
The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key benefits of buying the report The report is expected to help the market leaders/new entrants in this market by providing them information on the closest approximations of the revenue numbers for the overall Managed Network Services market and its segments.This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and to plan suitable go-to-market strategies.
The report also aims at helping stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
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