What is the global market size of Managed Network Services Market?

Global Managed Network Services Market size was valued at USD 266.8 billion in 2021 and is poised to grow from USD 267.4 billion in 2022 to USD 656.90 billion by 2030, growing at a CAGR of 13.7% during the forecast period (2023-2030).

Who are the key vendors in the Global Managed Network Services Market?

Global Managed Network Services market is characterized by a diverse range of players offering comprehensive Managed Network Services solutions. These companies focus on providing customized value-added services, such as application testing, expert consultancy, and service catalog building. To gain a competitive edge, market players emphasize technological advancements and innovation in their service offerings. They also invest in research and development activities to enhance their capabilities and expand their service portfolios. Furthermore, strategic partnerships, collaborations, and mergers and acquisitions are common strategies employed by companies to strengthen their market position and meet the evolving demands of customers. 'IBM (US)', 'Cisco Systems (US)', 'Verizon Communications (US)', 'AT&T (US)', 'NTT Communications (Japan)', 'Orange Business Services (France)', 'BT Group (UK)', 'CenturyLink (US)', 'Deutsche Telekom (Germany)', 'Fujitsu (Japan)', 'Telefonica (Spain)', 'Tata Communications (India)', 'Cognizant (US)', 'Accenture (Ireland)', 'HCL Technologies (India)', 'Wipro (India)', 'Dimension Data (South Africa)', 'Huawei Technologies (China)', 'Fujitsu (Japan)', 'Infosys (India)'.

What is the key driver of Global Managed Network Services Market?

One significant driver for the global Managed Network Services market is the increasing preference for outsourcing management functions to specialized service providers. Businesses across various industries are recognizing the benefits of entrusting their network management to experts, allowing them to focus on core competencies while leveraging the expertise and advanced technologies offered by Managed Network Service providers. This driver is fueled by the need for improved operational efficiency, cost reduction, and access to a wide range of value-added services, contributing to the market's growth.

What is the key market trend for Global Managed Network Services Market?

One key market trend in the Managed Network Services market is the increasing adoption of cloud-based Managed Network Services. Businesses are leveraging cloud technologies to enhance their network infrastructure, reduce costs, and improve scalability. Cloud-based Managed Network Services offer flexible and on-demand access to network resources, allowing companies to easily scale up or down as per their requirements. This trend is driven by the growing need for agility, cost efficiency, and the ability to quickly adapt to changing business needs, contributing to the overall growth of the market.

Which region accounted for the largest share in Global Managed Network Services Market?

North America dominated the global Managed Network Services market. The region's dominance can be attributed to the presence of a robust technological infrastructure and a high adoption rate of advanced technologies among businesses. The United States, in particular, holds a significant share in the market due to the presence of major IT companies and a strong emphasis on digital transformation initiatives.

Managed Network Services Market Size, Share, Growth Analysis, By Type(Managed LAN (Local Area Network) and Managed WAN (Wide Area Network)), By End-User(IT and Telecom, and BFSI (Banking, Financial Services, and Insurance)), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45H2035 | Region: Global | Published Date: March, 2024
Pages: 197 | Tables: 62 | Figures: 75

Managed Network Services Market News

In February 2024, Nokia Corporation (NOK) announced a huge collaboration with Ucom to transform network connectivity in Armenia. This partnership includes upgrading Ucom's nationwide radio access network (RAN) and improving its core and IP network infrastructure to enable the future rollout of 5G services across the country.
In February 2024, NTT DOCOMO, INC. and NEC Corporation uncovered their intention to establish a joint venture company named OREX SAI, INC. by April 1. The purpose of this venture is to offer OREX Packages solutions for the comprehensive global deployment of Open RAN services.
In March 2024, Kyndryl, an IT infrastructure services provider, and Cloudflare, a cloud specialist, revealed a new global strategic alliance. Their collaboration aims to enhance and secure customers' connectivity to various clouds and data centers.

Managed Network Services Market Report Snapshots

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Global Managed Network Services Market size was valued at USD 267.4 billion in 2022 and is poised to grow from USD 304.03 billion in 2023 to USD 849.19 billion by 2031, growing at a CAGR of 13.7% in the forecast period (2024-2031).

The competitive landscape of the global managed network services market is characterized by a mix of established players and emerging firms, all striving to innovate and enhance service offerings. Major international companies like Cisco Systems, IBM, AT&T, and Accenture dominate the market, leveraging their extensive expertise in IT infrastructure and cybersecurity. Additionally, firms such as Verizon and Orange Business Services are expanding their portfolios to meet the growing demand for scalable, secure, and efficient managed network solutions across various industries. 'IBM (US)', 'Cisco Systems (US)', 'Verizon Communications (US)', 'AT&T (US)', 'NTT Communications (Japan)', 'Orange Business Services (France)', 'BT Group (UK)', 'CenturyLink (US)', 'Deutsche Telekom (Germany)', 'Fujitsu (Japan)', 'Telefonica (Spain)', 'Tata Communications (India)', 'Cognizant (US)', 'Accenture (Ireland)', 'HCL Technologies (India)', 'Wipro (India)', 'Dimension Data (South Africa)', 'Huawei Technologies (China)', 'Fujitsu (Japan)', 'Infosys (India)'

One key driver for the global managed network services market is the increasing complexity of IT infrastructure. As businesses expand their operations, the need for more sophisticated and scalable network solutions grows. Managed services offer centralized management, enabling organizations to focus on core activities while ensuring efficient and secure network performance.

Shift toward Cloud-Based Solutions: Increasing reliance on cloud technologies is driving demand for managed network services that offer seamless integration and scalability, enabling businesses to enhance operational efficiency and flexibility.

North America dominates the global managed network services market due to its advanced IT infrastructure, widespread cloud adoption, and strong presence of key technology providers. The region’s high concentration of large enterprises, coupled with increasing investments in digital transformation, fuels demand for managed services to streamline network management and enhance security. Additionally, rising cyber threats and stringent regulatory frameworks in sectors like finance and healthcare drive adoption of managed solutions. The proliferation of 5G and IoT technologies further accelerates growth, as businesses seek scalable, secure, and efficient network solutions to support expanding connectivity needs across diverse industries.

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Managed Network Services Market Size, Share, Growth Analysis, By Type(Managed LAN (Local Area Network) and Managed WAN (Wide Area Network)), By End-User(IT and Telecom, and BFSI (Banking, Financial Services, and Insurance)), By Region - Industry Forecast 2024-2031

Managed Network Services Market News

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What is the global market size of Managed Network Services Market?

Who are the key vendors in the Managed Network Services Market?

What is the key driver of Managed Network Services Market?

What is the key market trend for Managed Network Services Market?

Which region accounted for the largest share in Managed Network Services Market?

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