MarketsandMarkets forecasts 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.
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MSPs ensure organizations’ IT infrastructure is upgraded and updated on par with the latest technological innovations and help them stay ahead of the curve. They put efforts into securing the IT infrastructure of organization. MSPs currently are focusing on accelerating acceptance and implementation of Secure Access Service Edge (SASE). MSPs help enterprises in converging networking and security across every network edge to ensure consistent threat protection, better user experience, and high performance, as they are armed with large teams of network and security professionals. Thus, managed network services offer a systematic approach to manage an organizations network and security needs. The increased hostility of threats and attacks on the network, and the advent of sophisticated cybercriminals are compelling businesses to upgrade their network security systems constantly. These network threats and attacks are fast-moving and increasing by number and severity. Factors such as the cost of employing in-house network security staff and the lack of network experts drive the adoption of managed network services among enterprises.
The report covers the competitive landscape and profiles of major market 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), 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.
Cisco provides managed network services such as Cisco Meraki, Managed Security Services, SD-WAN and Cloud OnRamp. Cisco Meraki protects user data and constantly innovates to help safeguard user data and devices. This is a powerful defense feature provided by Cisco. It includes cloud managed security, SD-WAN, and cloud managed wireless. Managed security efficiently manages, detects, and responds to network threats. Cisco have an active threat analytics team, with Security Operations Center (SOC), which offers 24 hours managed security services. These services include incident response services. Cisco SD-WAN lets the clients take control of their business from anywhere. It is based upon internet, cloud, and software-as-a-service and would provide right security to the network, which can be in on-premises or cloud-hosted. It is powered by Viptela/IOS XE.
Cisco focuses on Y-o-Y growth with organic and inorganic growth strategies. For instance, in May 2021, Cisco acquired Kenna Security Inc. With this acquisition, Cisco would help reduce the attack surface and the time to detect and respond. In the same year in March, Cisco announced an expanded engagement with AMD to help businesses accelerate advanced digital experiences and improve hybrid cloud operations.
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Ericsson is one of the prominent players in the managed network services market. The firm intends to provide Ericsson operations engine, which is an AI and data-driven solution, providing intelligent, predictive, mobile networks. This advances network and IT operations and enable Communication Service Provide (CSP) and businesses to establish effective connection to their customers.
Managed Network Services Market by Type ( Managed LAN, Managed Wi-Fi, Managed WAN, Managed Network Security, Managed VPN, Network Monitoring), Organization Size (Large Enterprises and SMEs), Deployment Mode, Vertical, and Region - Global Forecast to 2026
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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.
According to a research report "Managed Network Services Market by Type ( Managed LAN, Managed Wi-Fi, Managed WAN, Managed Network Security, Managed VPN, and Network Monitoring), Organization Size (Large Enterprises and SMES), Vertical, and Region - Global Forecast to 2025" published by MarketsandMarkets, The global managed network services market size is expected 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% during the forecast period.
The major factors expected to drive the growth of the managed network services market are the need for lowering Capital Expenditure(CAPEX) and Operating Expenditure(OPEX), Increasing trend of digital transformation across the globe, and new connectivity demands increasing complications in IT environment.
The availability of immense new opportunities for managed network service providers is further expected to shape the future of this market.
These opportunities include exponential growth in IP traffic, a chance to provide value-added service and becoming business partner, and growth in the demand from SMEs.Browse 127 market data Tables and 43 Figures spread through 198 Pages and in-depth TOC on "Managed Network Services Market - Global Forecast to 2025"Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=901Managed WAN segment to record the largest market size during the forecast periodUnder the type segment, the managed WAN segment is expected to record 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.
The managed SD-WAN solution allows MSPs to deliver a comprehensive, cost-effective managed SD-WAN service, which includes advanced connectivity and security functions.
