The cloud-managed network market was USD 21,212.2 million in 2022, and it will advance at an 11.5% compound annual growth rate, to touch USD 50,287.1 million, by 2030. The growth of the industry is mainly attributed to the advancing IT sector and the advancement in technologies.
A cloud-managed network offers scalability and flexibility to businesses and allows them to sustain their infrastructure without buying any hardware or physical devices. Their devices start functioning when connected to the network. By utilizing this infrastructure businesses can secure and manage their networks.
The cloud services category, based on offering, accounted for the largest share of the industry. This is because cloud services enable businesses to control and manage their infrastructure over a centralized interface. Moreover, utilizing cloud networking, SD-WAN connects businesses and enables for communication among their branch offices in remote locations.
The large enterprises category, based on organization size, holds the major cloud-managed network market share of the industry, and it is expected to continue this trend in the years to come. This is because cloud services allow large enterprises to increase their network infrastructure, by offering scalability and flexibility, because of which businesses can efficiently manage the increasing network traffic.
Whereas, the SMEs category will advance at a higher rate in the years to come. This can be attributed to the affordability of cloud-managed networking. Instead of spending money on expensive networking equipment and tools, SMEs can utilize cloud services in a subscription mode, therefore lessening their upfront expenditures.
The public cloud category, based on deployment model, is expected to advance at the highest rate, in the years to come. This is because public cloud providers provide high flexibility, allowing organizations to quickly build up their equipment and offerings in response to the requirement.
The North American cloud-managed industry accounted for the dominating share, primarily owing to the technological superiority of the region. Furthermore, some major businesses in different sectors of the continent have included digitization as an essential operational requirement. Those businesses were among the first to use cloud technologies, for instance, cloud network administration solutions.
The APAC cloud-managed industry is expected to observe the fastest growth, of 13%, in the years to come. This is because of the increasing investments in the advancement of technologies by various nations in the region to spur economic expansion and increase their competitiveness. Moreover, cloud-managed networking services, which provide adaptable and scalable network oversight solutions, are important for enabling the advancement of technology.
With the advancement in technologies coupled with the expansion of the information technology sector, the cloud-managed network industry will continue to advance in the years to come.
Cloud Managed Network MarketThe 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 Network Market.
The growth sectors of the Cloud Managed Network 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.Top Drivers & Key ChallengesThe market of cloud-managed LAN growth can be ascribed to the rise adoption of the trend of bring your own devices (BYOD) as well as choose your own devices (CYOD) is almost all business enterprises around the world.
With this, the rapid rise in the deployment of Wi-Fi solutions across public venues to influence the market to grow substantially.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.
As solutions are mounting in different markets, the requirement for services has equally become important.
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.
Cloud Managed Network MarketThe 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 Network Market.
The growth sectors of the Cloud Managed Network Market are identified with precision for a better growth perspective.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 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.
