Steered by Rapid Digital Transformation, Global Managed Network Services Market Set to Expand by 2.2X Through 2031

NEW YORK, Oct. 28, 2021 /PRNewswire/ -- According to Fact.MR, the managed network services market is estimated to reach a valuation of US$ 60.4 Bn in 2021.

The overall demand is projected to rise at 8% CAGR between 2021 and 2031, surpassing a valuation of around US$ 130 Bn by the end of 2031. Growth of the market is attributed to the rising adoption of managed network services by various industries such as banking & securities and others in order to cut down the deployment costs and downtime.

Managed network services (MNS) are networking applications, functions, and services that enterprises outsource to be remotely operated, monitored and maintained by a managed service provider (MSP).

These services range from basic network access and transport services such as traditional leased WAN and LAN lines to newer software-defined WAN (SD-WAN) connections and virtual network services.

Managed network services also offer various advantages to enterprises with their flexible and cost-effective nature. Business enterprises often contract with MSPs because their internal resources are insufficient to handle certain processes and business functions. Employing MNS allows companies to run business effectively and to cope with changing market trends.

MSPs can handle enterprise networking issues that include integration, troubleshooting, technical support and policy setting. This also help companies to employ new technologies at low costs with minimum complexity.

Request a report sample to gain compressive insights at

https://www.factmr.com/connectus/sample?flag=S&rep_id=1586

As per the report, managed network services for security purposes will dominate the global market with a healthy share. Adoption of remote work culture and high technology penetration has left business vulnerable to cyber-attacks and phishing.

As a result, the demand for managed network services for security has been increasing rapidly and the trend is likely to continue in the future.

Regionally, China is projected to emerge as the most lucrative market for managed network services, accounting for around half market revenue through 2031. Growth in the region is attributed to the increasing penetration of internet, presence of key players, and rising adoption of digitalization across end-use industries.

"Rising penetration of 5G internet and increasing trend of remote working are projected to boost the managed network services market growth during the forecast period. Moreover, countries such as China and the U.S. will continue to remain the hub of managed network services," says the Fact.MR analyst.

Key Takeaways from Managed Network Services Market Survey

• The U.S. is expected to account for around 31% market share in 2021 as digital transformation continues to takeover businesses.
• China is projected to emerge as the fastest growing market for managed network services, accounting for around 50% of the global demand through 2031.
• In terms of service type, managed network security services segment is anticipated to surge at 8% CAGR between 2021 and 2031.
• Based on end use vertical, managed network services for healthcare providers is expected to grow at 7.5% CAGR until 2031.

Key Drivers

• Rising trend of digital transformation across enterprises is driving the managed network services market.
• Growing demand for managed network services among small and medium sized enterprises in order to cut down deployment costs, reduce complexities in the operations and boost up the agility, will bring new opportunities for managed network services players in the futures.
• Rapid advancements in artificial intelligence technology along with high penetration of mobility is expected to support the growth of the market.
• Increasing cyberattack and data breaches is prompting business enterprises to adopt services like managed network security services.

Key Restraints

• Data privacy and security issues might hamper the growth in the market.

To learn more about Managed Network Services Market, you can get in touch with our Analyst at

https://www.factmr.com/connectus/sample?flag=AE&rep_id=1586

Competitive Landscape

Key companies operating in the managed network services market are aiming at product innovation by means of integrating latest technologies in managed network service platforms. They are adopting various strategies such as establishing contracts, agreements and partnerships with business enterprises.

For instance,

• In October 2021, Ericsson and Belgian communication service provider, Telenet extended their managed services partnership through a five-year deal through which Ericsson will take responsibility for planning, design, operations and optimization. The deal also includes the deployment and seamless integration of 5G hardware into Telenet's mobile network.
• In October 2021, CloudWave, the largest independent cloud and managed services software hosting provider in healthcare, announced the launch of OpSus Cloud Services with seven additional healthcare institutions. CloudWave's cloud and managed services provide a multi-cloud approach to guarantee uptime, easy access and strong security to hospital users
• In April 2021, Fortinet partners with BT to expand their managed network services with secure SD-WAN. SD-WAN allows organizations of all sizes to improve application and user experience while enabling the flexibility and cost benefits of a hybrid network.

Some of the prominent players operating in the managed network services market profiled by Fact.MR are:

• Accenture Plc
• Alcatel-Lucent Enterprise
• AT&T Inc.
• CenturyLink Inc.
• Cisco Systems Inc.
• Ericsson
• GTT Communications Inc.
• HCL Technologies Ltd.
• Hewlett Packard Enterprise Company
• Huawei Technologies Co. Ltd.
• International Business Machines (IBM) Corporation
• LG Networks Inc.
• Reliance Communications Limited (Global Cloud Xchange)
• TATA Communications Ltd.
• Wipro Limited

More Insights on the Global Managed Network Services Sales Outlook

Fact.MR provides an unbiased analysis of managed network services market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for managed network services with a detailed segmentation on the basis of:

Service Type

• Managed Voice Network Services
• Managed VPN Services
• Managed Network Security Services
• Managed Network Conferencing Services
• Managed WAN/SD WAN Services

Enterprise Type

• MNS for Small Enterprises
• MNS for Medium Enterprises
• MNS for Large Enterprises

End Use Vertical

• MNS for Banking & Securities
• MNS for Insurance
• Health Insurance (Payer)
• Insurance (Other than Health)
• MNS for Communication, Media & Services
• Entertainment
• Publishing and Advertising
• Broadcasting and Cable
• Telecommunications
• Other Business, Technical and Consumer Services
• IT Services & Software
• MNS for Healthcare Providers
• Physician
• Hospitals
• MNS for Manufacturing & Natural Resources
• Automotive
• Consumer Nondurable Products
• Energy Resources & Processing
• Heavy Industry
• IT Hardware
• Life Sciences and Healthcare Products
• Natural Resources & Materials
• MNS for Retail
• General Retailers
• Grocery
• Restaurants and Hotels
• Specialty Retailers
• MNS for Wholesale Trade
• MNS for Transportation
• MNS for Transport
• Motor Freight
• Pipelines
• Rail & Water
• Warehousing, Couriers and Support Services
• MNS for Utilities
• MNS for Education
• MNS for Government

Key Questions Covered in the Managed Network Services Market Outlook Report

• The report offers insight into managed network services demand outlook for 2021-2031
• The market study also highlights projected sales growth for managed network services market between 2021 and 2031
• Managed network services market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
• Managed network services market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others

Explore Fact.MR's Coverage on the Technology Domain –

SD WAN Managed Services Market- SD-WAN Managed Services demand is expected to expand at a moderate to high CAGR in the coming years. This rise is expected because many sectors and software companies are exhibiting interest in SD-WAN Managed Services in the current environment (MS). Because traditional WAN architecture has latency and stability issues when connecting to data centers and cloud-based applications, SD-WAN has gained traction in a variety of industries. SD-WAN MS, on the other hand, not only solves these issues but also adds features like security, underlay and overlay connectivity, and more, boosting demand for SD-WAN.

LPWAN Market- LPWAN (Low Power Wide Area Network) is a term that is used to describe a network that is meant to interact wirelessly with less power than other networks, such as satellite, cellular, or WiFi. In recent years, LPWAN wireless technology has gained prominence as a prominent wireless connectivity solution for the Internet of Things (IoT). Because of its superior performance features, LPWAN is a better choice than traditional wireless technologies. The expanding use of LPWAN in machines is due to its fundamentally different ways of working than previous connectivity options.

Network Access Control Market- Companies in the network access control market are likely to see new opportunities as information security criteria continue to evolve. With the rapid advancement of technology, growth in new security solutions for data protection against malicious attacks is on the horizon, and it will most likely manifest itself in a variety of ways. Network access control (NAC) has gone a long way, and a number of industry leaders have developed solutions to help it continue to evolve throughout the years. With an ever-increasing number of major and small and medium-sized businesses, North America will continue to be the most attractive market for network access control.

About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, technology to even the most niche categories. 80% of Fortune 1000's trust us in critical decision making.

MarketNgage is powered by Fact.MR – our Unified Intelligence Engine, a revolutionary Market Research Subscription platform with a flexible pricing to suit your needs.

You can access all our technology research reports by signing up with MarketNgage's Market Research Subscription with FREE credits. MarketNgage is powered by Fact.MR – A Fully integrated research solution for seamless single-window access Widest coverage on emerging markets, nascent products, and disruptive technologies.

Contact:

Mahendra Singh
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E: sales@factmr.com

Logo: https://mma.prnewswire.com/media/713666/FactMR_Logo.jpg