The global managed network services market was estimated USD 39.24 billion in 2016 and expected to reach USD 60.87 billion by the end of 2021, with a CAGR of 9.2% from 2015 to 2021.
Managed Network Services offers simplified and robust network to support enterprises in rapidly changing technical environment. These services help the organization to ensure optimal network performance to support increasingly demanding service performance needed to support business operations. Managed network service providers offer fool-proof network with 24/7 availability, flexibility, and scale up high performance to the organizations. Managed network services comprise technical expertise, sophisticated monitoring & management tools, and refined processes to ensure that all the devices attached to the organizations network infrastructure are proactively monitored and managed. Increasing demand of managed network services across all the industry verticals is result of economic advantage that it offers to the business. Apart from focussing on network management issues, it helps the businesses to strategically focus on their core operation to streamline business growth. However, uncertainty of service charges and concerns over exposure to sensitive information restraints the market growth.
Currently, telecom and IT vertical dominated the managed security service market and the trend is expected to continue over the forecast period. This is attributed to high amiability of telecom and IT industry towards evolving network technologies to support internal and external business operations and relationships with stakeholders.
The managed network services market for SMBs is anticipated to reflect significant growth over the forecast period. Nowadays, SMBs are very proactive in terms of realising benefits of managing and securing their network infrastructure for optimum performance using managed network services.
The report segments the global managed network services market by service, by vertical and by region. The service includesdata storage, hosted IP telephony, managed internet access and network infrastructure provisioning, managed network security, managed VPN, network monitoring, and among others. The vertical includes BFSI, energy and utilities, government, healthcare, manufacturing, media & entertainment, retail, telecomandIT, and among others.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. Currently, North America leads the global managed network services market followed by Europe and Asia-Pacific.The managed network services market in Asia-Pacific is projected to reflect highest CAGR over the forecast period.
The companies covered in the report includeAccenture, Alcatel-Lucent Enterprise, AT&T, Cisco Systems, Ericsson, HCL Technologies Limited, Hewlett Packard Enterprise Development Lp, Huawei Technologies Co. Ltd., International Business Machines Corporation, and among others.