Growing demand for greater network security and enhanced network accessibility along with need to decrease the deployment expenses drives the demand for managed network services market
The global managed network services (MNS) market size is projected to reach at USD 57 billion by 2025. Growing demand for outsourcing management functions through the managed and cloud service providers is expected to encourage the MNS adoption. Moreover, growing security concerns along with application in managing the IT functions by governing over the IT infrastructure and networks of enterprises is projected to positively influent the industry growth..
Enhancing profit margin and proficiently meeting the requirements of the varying business environment is likely to spur the MNS industry growth. The key industry participants constantly engage in customizing and upgrading their services to survive in the competitive environment, which in turn offers lucrative prospects for market expansion. Moreover, the companies are also concentrating on providing advisory expert services to tackle intricate business problems.
Based on the component segment, the market is bifurcated into managed IP stelephony, managed LAN/WAN networks, managed IP/VPN, managed video conferencing/telepresence, and managed ethernet links. In 2019, the managed LAN/WAN networks segment gathered the largest market revenue and it is projected to govern the managed network services market throughout the forecast period. However, the managed video conferencing/telepresence segment is anticipated to grow at a substantial growth rate over the forecast period.
The global managed network services market has strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
The global managed network services market is a wide range to North America, Europe, APAC, South America, and the Middle East & Africa. North America is considered a mature market in the managed network services applications, owing to an outsized presence of organization with the availability of technical expertise and advanced IT infrastructure. The US and Canada are the highest contributory countries to the expansion of the managed network services market in North America.
The major players of the global managed network services market are Accenture, Alcatel-Lucent Enterprise, AT&T Inc., Cisco Systems, Inc., Ericsson, HCL Technologies Limited, Hewlett Packard Enterprise, Huawei Technologies, IBM, LG Networks, and more. The managed network services market is fragmented with the existence of well-known global and domestic players across the globe.
Segment Overview of Global Managed Network Services Market
Component Overview, 2018-2025 (USD Billion)
- Managed LAN/WAN Networks
- Managed IP Stelephony
- Managed IP/VPN
- Managed Ethernet Links
- Managed Video Conferencing/Telepresence
Organization Size Overview, 2018-2025 (USD Billion)
- Large Enterprises
End-User Overview, 2018-2025 (USD Billion)
- Telecom & IT
- Government & Utilities
- Media & Entertainment
Regional Overview, 2018-2025 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America