CHICAGO, September 28, 2021 / PRNewswire / – According to New Market Research Report “Managed network services Market by Type (Managed LAN, Managed Wi-Fi, Managed WAN, Managed Network Security, Managed VPN, Network Monitoring), Organization Size (Large Enterprises & SMBs), Mode of Deployment, Vertical & Region – Global Forecast until 2026 “, published by MarketsandMarkets â¢, the size of the managed network services market is expected to increase from $ 57.4 billion in 2021 to $ 82.3 billion by 2026, at a compound annual growth rate (CAGR) of 7.5% over the forecast period.
The presence of various key players in the ecosystem has led to a competitive and diverse market. Businesses rely on outsourced network management to drive efficiency gains, which translates into better use of resources and lower expenses. Organizations look to MSPs for help rather than struggling to keep pace with technology. With Managed Network Services, Global Network Services are made available to organizations that do not have global resources available in-house, eliminating the hassle of building, monitoring and maintaining their network and giving them the freedom to focus on their core business. Therefore, managed network services are an attractive alternative to the expensive and time-consuming activities of in-house network management services, which are difficult to install and manage for SMBs where cost is a major factor.
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247 – Tables
52 – Figures
270 – Pages
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Managed network security to record higher growth rate over the forecast period
In the Type Managed Network Services market, Managed Network Security is expected to register higher growth rate during the forecast period. Threats to systems and data hamper business innovation, limit productivity, and hamper compliance efforts. Managed Network Security Services protect the corporate perimeter against all kinds of security threats. MSPs use strong security controls and safeguards to protect corporate network services and customer information from external exploits, and continually verify security technologies and business processes through compliance audits. internal and external.
Large companies are expected to hold a larger market share during the forecast period
By organization size, large companies should hold the largest market size. The main reason large enterprises are adopting managed network services is for consistent and reliable services with global reach and lower operating costs. Nowadays, large companies are realizing that outsourcing certain network operations is beneficial; therefore, adopt managed network services. These companies work under enormous pressure and time constraints to maintain their market position and retain their customers.
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Cloud Deployment Expected To Have Higher Growth Rate During Forecast Period
In deployment mode, the cloud is expected to have a higher growth rate. Cloud-managed network service providers manage the technology infrastructure or end-user systems of an enterprise. Services are provided using the subscription model. MSPs monitor and manage servers and other hardware, software, and applications. They provide support and storage and backup services for data and software. MSPs download and configure system components to ensure clients are fully operational with updated hardware and software.
The healthcare sector is expected to have a higher growth rate during the forecast period
By verticals, the health sector is expected to have a higher growth rate. Healthcare organizations have invested heavily in technology, such as cloud, mobility and IoT, to deliver increased quality of care and reduce costs while maintaining regulatory compliance and a competitive position in the market. This vertical is still under immense pressure where regulations, cost restraints, skills / personnel issues, and compliance and cybersecurity challenges compete for resources and funding. Managed Network Services allow healthcare facilities to easily manage HIPAA compliant networks for the deployment and maintenance of mobile healthcare applications and Internet access for patients and visitors.
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North America 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. North America is a forerunner in terms of technology adoption and the digitization of society. Companies and service providers in this region are constantly modifying their network infrastructure to adapt to advanced technologies. Rapid changes in IT infrastructure, such as cloud and virtualization, have dramatically increased the pressure on network administrators to manage network infrastructure. As a result, companies outsource network services with high level network management and lower operating costs.
Key and emerging players in the managed network services market include IBM (US), Cisco (US), Ericsson (Sweden), Verizon (United States), Huawei (China), AT&T (United States), BT Group (United Kingdom), Telefonica (Spain), T systems (Germany), NTT (Japan), Orange (France), Vodafone (UK), Fujitsu (Japan), Lumen (United States), Masergy (United States), Colt Technology Services (United Kingdom), Telstra (Australia), CommScope (United States), Singtel (Singapore), GTT Communications (United States), Global Cloud Xchange (United Kingdom), Brennan IT (Australia), Sify (India), Aryaka Networks (United States), SCloudX (United States), Optanix (United States), DXC Technology (United States), Oman Data Park (Oman), Servsys (United States), FlexiWAN (Israel), Bigleaf (United States), Wipro (India) and Comarch (Poland). These players have adopted several organic and inorganic growth strategies, including new product launches, partnerships, collaborations and acquisitions, to expand their offerings and market share in the global managed network services market.
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