Cloud Managed LAN Market Size, Share, Growth Analysis, By Organization Size(Medium Enterprises and Large Enterprises), By Services(Professional Service and Managed Service), By Solutions(Network Management, Monitoring Performance Management, Onboarding Services, Configuration Solution), By Application(Information Technology, BFSI, Manufacturing, Retail), By Region - Industry Forecast 2024-2031

Global Cloud Managed LAN Market size was valued at USD 1.9 Billion in 2022 and is poised to grow from USD 2.07 Billion in 2023 to USD 4.19 Billion by 2031, growing at a CAGR of 9.20% in the forecast period (2024-2031).

The growing need for solutions to transport high-speed data volumes and the increasing demand for high-speed internet in a small geographic area are the key factors driving the market. Increasing adoption of Fi solutions is driving the global cloud managed LAN market to grow rapidly. Cloud computing enhancements, M2M connectivity and centralized big data and IT and cloud-hosted voice and customer engagement applications are widely used by large mid-sized enterprises to gain competitive advantage and drive confidential IoT devices of the global cloud managed LAN market. Consumer penchant towards technology as they are known to analyze data, allocate collection resources, identify patterns and trends and provide insights to improve network performance is also driving the global cloud managed LAN market. Additionally, concerns about cybersecurity threats as these technologies protect against network attacks and attacks, devices are easily connected to home or corporate networks, the greater need for computers and resources if storage that is scalable and offers value, as well as cost positively impacts the global cloud managed LAN market.