Managed Network Services Market Size & Share Report, Growth, Trends, 2032

Managed Network Services Market Insights

Zion Market Research has published a report on the global Managed Network Services Market, estimating its value at USD 68.37 Billion in 2023, with projections indicating that it will reach USD 119.48 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 6.4% over the forecast period 2024-2032. The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Managed Network Services Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Managed services are the outsourced services such as functions, networking and services that can be remotely operated, maintained and monitored by managed service provider.

The managed network services market is likely to observe growth during the projected period, owing to the transformation of businesses to streamline their processes. Nowadays, every single organization depends on their IT departments and wants it to run systems at their finest level. The businesses are in need for extremely robust and scalable hardware and software so that they can achieve operational excellence. To overcome the burden of operations, the organizations are adopting managed services so as to reduce the burden. The demand is also subjected to rise owing to the increasing requirement of user identity authentication, transaction security, and more.

Owing to the availability of customization services, the key market vendors customize their services according to user needs; this is anticipated to promote market growth. Fast pace development in automation technology, increasing investment in ICT sector by government and private individual are eventually, expanding network services demand. Investments in numerous sectors such as retail, BFSI, telecommunication & IT and public sector are anticipated are anticipated to boost market growth in the long run. Network services market will undergo growth owing to the technologies such as big data, cloud computing and mobility across the globe. Increasing development in software-defined networking (SDN) and internet of things IoT are anticipated to offer growth opportunities for the managed network services market.

Managed Network Services Market: Segmentation

The managed network services market is segmented into service, organization size and vertical. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032. 

By service segment analysis includes managed VPN, data storage, network monitoring, managed network security, hosted IP telephony and others.

By organization size segment analysis includes SMBs and large enterprises.

By vertical segment analysis includes retail & e-commerce, TELECOM & IT, BFSI, media & entertainment, healthcare, healthcare manufacturing, government and utilities and others.

On the basis of region the managed network services market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East and Africa.

North American market holds the significant market share of the market share in the managed network services, due to the presence of numerous multinational companies within the region and is anticipated to stimulate growth in the long run.

Asia Pacific region is anticipated to offer profitable opportunities to managed network services providers, due to the rising investments for security and adoption of cloud-based solutions by numerous companies in the region. This region is anticipated to hold substantial share in the forecast period.

Managed Network Services Market: Report Scope

Renowned managed network services market key players

HCL Technologies Limited
Cisco Systems Inc.
Ericsson
International Business Machines Corporation
Accenture
Hewlett Packard Enterprise Development LP
AT&T Inc.
Alcatel-Lucent Enterprise
Wipro Limited

The report segments managed network services market as follows:

Global Managed Network Services Market: Service Segment Analysis

• Managed VPN
• Data storage
• Network monitoring
• Managed network security
• Hosted IP telephony
• Others

Global Managed Network Services Market: Organization Size Segment Analysis

• SMBs
• Large Enterprises

Global Managed Network Services Market: Vertical Segment Analysis

• Retail & E-commerce
• Telecom & IT
• BFSI
• Media & entertainment
• Healthcare
• Healthcare manufacturing
• Government and utilities
• Others

Global Managed Network Services Market: Regional Segment Analysis

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa