The Managed Network Services Market thrives on enterprises seeking network security, 5G readiness, and seamless integration of hybrid cloud environments.

AUSTIN, TX, UNITED STATES, November 20, 2024 /EINPresswire.com/ -- Market Scope and Overview

The growing complexity of network infrastructures, rising cyber threats, and the increasing demand for effective network management are key factors driving the significant growth of the Managed Network Services Market in the coming years.

According to the SNS Insider report, the global Managed Network Services Market was valued at USD 67.90 billion in 2023 and is projected to reach USD 120.69 billion by 2032, expanding at a CAGR of 6.6% during the forecast period.

Demand for Scalable and Secure Network Solutions

The rapid digital transformation across industries such as manufacturing, healthcare, retail, and financial services has created a pressing need for managed network services that ensure seamless connectivity, enhanced network security, and improved network performance.

With expanding networks, organizations increasingly rely on external network management providers to improve scalability and handle growing data volumes and online transactions efficiently.

Network security has emerged as a pivotal driver of market growth. As organizations expand their digital footprints and adopt cloud services, the risk of cyber threats intensifies. Managed network services are now integral for mitigating security risks and ensuring compliance with ever-evolving regulations. These services help organizations reduce the risk of security breaches while maintaining operational integrity.

Get a Report Sample of Managed Network Services Market @ https://www.snsinsider.com/sample-request/2394

Some of the Major Key Players Studied in this Report are:

✦ Fujitsu
✦ IBM
✦ Ericsson
✦ Cisco
✦ Comarch SA
✦ Verizon
✦ BT Group
✦ Huawei
✦ Alcatel-Lucent
✦ Dell EMC (EMC Corporation)
✦ Others

Segment Analysis

By Type

The Managed Local Area Network (LAN) segment is expected to dominate the market. Businesses are outsourcing network management to third-party providers to reduce complexity.

✦ Increasing reliance on high-speed internet, cloud applications, and mobile devices has heightened the demand for secure and high-performing LAN networks.

✦ Managed LAN services enable businesses to achieve scalability, enhanced performance, and uninterrupted connectivity without substantial investments in on-premise infrastructure.

✦ Benefits such as cost reduction, improved productivity, and operational efficiency are driving the widespread adoption of Managed LAN solutions.

By Network Security

The Managed Firewall Services segment is anticipated to capture a significant market share.

✦ As businesses expand their digital ecosystems, firewalls are crucial for preventing unauthorized access, data breaches, and cyberattacks.

✦ These services offer centralized monitoring and proactive threat management, ensuring swift detection and response to potential threats.

Additionally, Managed Detection and Intrusion Prevention Systems (IDS/IPS) are witnessing increased adoption. These systems are vital for identifying unusual traffic patterns, detecting breaches, and mitigating security incidents. With growing cyber threats, the IDS/IPS segment is poised for rapid growth.

Market Segmentation and Sub-Segmentation Included Are:

By Type
✦ Managed LAN
✦ Managed Wi-Fi
✦ Managed VPN
✦ Managed WAN
✦ Network Monitoring
✦ Managed NFV
✦ Managed Network Security

By Network Security
✦ Managed Firewall
✦ Managed IDS/IPS
✦ Other Managed Network Security

By Verticals
✦ Banking, Financial Services and Insurance
✦ Retail and Ecommerce
✦ IT and Telecom
✦ Manufacturing
✦ Government
✦ Education
✦ Healthcare
✦ Media and Entertainment
✦ Other Verticals

Regional Analysis

North America led the market in 2023, accounting for 33.1% of the global revenue. This is attributed to:

✦ The presence of major players such as Cisco, IBM, and AT&T offering cutting-edge managed network and security solutions.

✦ Early adoption of advanced network technologies and growing concerns over cyberattacks and data breaches.

The Asia-Pacific region is expected to experience the fastest market growth. Factors driving this growth include:

✦ Rapid digitalization and increased adoption of cloud services in economies such as China, India, and Japan.

✦ Significant investments in IT infrastructure and the rise of small and medium-sized businesses (SMBs) opting for managed services to support digital transformation efforts.

Recent Developments

✦ Cisco’s Acquisition of Splunk (April 2024): Cisco acquired Splunk, a leading cybersecurity firm, to bolster its managed network security portfolio. This move aims to enhance Cisco's ability to offer comprehensive managed services focused on cybersecurity and network management.

✦ AT&T's Launch of AI-Powered Network Management (June 2024): AT&T introduced AI-driven managed network services to provide businesses with real-time visibility into network performance. This innovation uses machine learning to predict issues and optimize performance, ensuring robust security and operational efficiency.

✦ Huawei’s Expansion into Managed Network Security (March 2024): Huawei launched a new suite of managed network security services, including advanced managed firewall solutions, to address escalating cyber threats. This expansion strengthens Huawei's position in the global managed services market, particularly in emerging economies.

Enquire for More Details @ https://www.snsinsider.com/enquiry/2394

Table of Contents- Major Key Points

1. Introduction

2. Research Methodology

3. Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities
3.4. Challenges

4. Impact Analysis
4.1. Impact of Ukraine- Russia war
4.2. Impact of Ongoing Recession on Major Economies

5. Value Chain Analysis

6. Porter’s 5 Forces Model

7. PEST Analysis

8. Managed Network Services Market Segmentation, By Type
8.1. Introduction
8.2. Trend Analysis
8.3. Managed LAN
8.4. Managed Wi-Fi
8.5. Managed VPN
8.6. Managed WAN
8.7. Network Monitoring
8.8. Managed NFV
8.9. Managed Network Security

9. Managed Network Services Market Segmentation, By Network Security
9.1. Introduction
9.2. Trend Analysis
9.3. Managed Firewall
9.4. Managed IDS/IPS
9.5. Other Managed Network Security

10. Managed Network Services Market Segmentation, By Verticals
10.1. Introduction
10.2. Trend Analysis
10.3. Banking, Financial Services and Insurance
10.4. Retail and Ecommerce
10.5. IT and Telecom
10.6. Manufacturing
10.7. Government
10.8. Education
10.9. Healthcare
10.10. Media and Entertainment
10.11. Other Verticals

11. Regional Analysis
11.1. Introduction
11.2. North America
11.3. Europe
11.4. Asia-Pacific
11.5. The Middle East & Africa
11.6. Latin America

12. Company Profile

13. Competitive Landscape
13.1. Competitive Benchmarking
13.2. Market Share Analysis
13.3. Recent Developments

14. USE Cases and Best Practices

15. Conclusion

About Us

S&S Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

Our staff is dedicated to giving our clients reliable information, and with expertise working in the majority of industrial sectors, we're proud to be recognized as one of the world's top market research firms. We can quickly design and implement pertinent research programs, including surveys and focus groups, and we have the resources and competence to deal with clients in practically any company sector.

Akash Anand
SNS Insider | Strategy and Stats
+1 415-230-0044
email us here
Visit us on social media:
Facebook
X
LinkedIn
Instagram
YouTube

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.