The global Cloud Managed Network Market size is poised to grow from $21.6 billion in 2022 to $36.3 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 10.9% during the forecast period, according to MarketsandMarkets.
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Solutions segment to hold the highest market share during the forecast period
Companies are rapidly adopting cloud managed network solutions to streamline their business procedures, along with delivering better and agile services to their customers. Also, benefits, such as cost-saving, increased efficiency and flexibility, and reduced downtime, have increased the demand for cloud managed network solutions and services.
Private Cloud segment to grow at the highest CAGR during the forecast period
Private clouds are created for specific groups or organizations that require customization and control over their data. Enterprises opt for private cloud, as it provides a highly secure and centralized storage infrastructure. The need to enable companies to have a better control of the data and can reduce the risk of data loss and issues connected to the regulatory compliance, will drive the segment growth.
Asia Pacific (APAC) region to record the highest growth rate in the cloud managed network market in 2022
Asia Pacific is an emerging region in the cloud managed network market. The region consists of major economies, such as China, Japan, Singapore, South Korea, and India. The ICT applications are key elements for socio-economic development in the region, and it has significant expertise in the ICT field. The efforts by public and private institutions to bring ICT and telecommunications by developing ICT infrastructure inorder to increase efficiency and improve productivity for businesses operating in different verticals in the region will drive the market growth. Also the need to support next-generation offerings such as cloud services, AI, IoT and edge computing, will drive digital economic growth and innovation within the region.
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Key and innovative vendors in Key and innovative vendors in the cloud managed network market include Cisco (US), HPE(US), IBM (US), Ericsson (Sweden), Huawei (Japan), Juniper Networks (US), Fujitsu (Japan), Accenture (Ireland), NTT Data (Japan), NEC(Japan), Extreme Networks (US), CommScope (US), Zyxel Networks (Taiwan), Infoblox (US), D-Link (Taiwan), Veracloud (Malta), Accrets International (Singapore), Mindsight (US), Kalyx (India), Iricent (Ireland), Total Communications (US), Cloudscape Technologies (US), DynTek (US), Inhand Networks (US), Engenius Technologies (US). These vendors have adopted many organic as well as inorganic growth strategies, such as new product launches, and partnerships and collaborations, to expand their offerings and market shares in the cloud managed network market.
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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.
