Managed Network Services Market Worth $71.6 Billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, May 21, 2020 /PRNewswire/ -- According to the new market 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.
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127 – Tables
43 – Figures
198 – Pages
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Managed WAN segment to record the largest market size during the forecast period
Under 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. Hence, organizations outsource their network services. Managed WAN services help organizations easily collaborate with partners and suppliers, speed delivery of high-demand products, and create better experiences for customers by seamlessly connecting them with employees and self-service systems. The managed SD-WAN solution allows MSPs to deliver a comprehensive, cost-effective managed SD-WAN service, which includes advanced connectivity and security functions. MSPs help enterprises distribute WAN traffic securely over carrier services, including IPVPN and broadband, enabling them to route traffic on the most efficient channel without sacrificing application performance.
Healthcare and life sciences vertical to recod the highest CAGR during the forecast period
In the Managed Network Services Market by vertical, the healthcare and life sciences vertical is expected to record the highest CAGR during the forecast period. Healthcare organizations have invested heavily in technology, such as cloud, mobility, and IoT, to deliver increased quality of care and reduce cost while maintaining regulatory compliance and a competitive position in the market. This vertical is always under immense pressure where regulations, cost restrictions, skills/staffing issues, compliance and cybersecurity challenges compete for resources and funding. Managed network services empower the healthcare institutions to easily manage the Health Insurance Portability and Accountability Act (HIPAA)-compliant networks for deploying and maintaining mobile healthcare applications and the internet access for patients and visitors. Health Insurance Portability and Accountability Act
North America to hold the largest market size during the forecast period
North America is expected to hold the largest market size in the global Managed Network Services Market during the forecast period. The US has emerged as the largest country for the market in terms of market size, due to the heavy adoption of advanced technologies, such as 5G, cloud, analytics, and IoT, across the US organizations. The US is one of the most advanced countries in the world in terms of technology adoption, which is known for its innovative and disruptive startups.
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Key and emerging Managed Network Services Market players include IBM (US), Fujitsu (Japan), Cisco (US), Ericsson (Sweden), Verizon (US), Comarch SA (Poland), Huawei (China), BT Group (UK), AT&T (US), T-systems (Germany), Orange Business Services (France), DXC Technology (US), NTT (Japan), CenturyLink (US), Global Cloud Xchange (UK), TATA Communications (India), Colt (UK), Sify (India), Telstra (Australia), Sprint (US), GTT (US), and Brennan IT (Australia).
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