The global managed network services market is subject to witness a substantial growth due to the growing demand for cloud of security solutions systems for enterprises and performing primary business operations. The recent technological advancement in clod services industry such as development of wireless sensor network technology, are propelling market growth, in the recent years.
In addition, shifting trends towards of Internet of Things (IoT) technology, soaring in demand for high performance & secure systems, and growing penetration of smartphones across the globe are anticipated to fuel the growth of market over the forecast period. Globally, the market is predicted to grow at a CAGR of 4.80% in the forecast period, providing numerous opportunities for market players to invest for research and development in the managed network services market.
Increasing adoption of managed network services is attributed to the mounting implementation of the multi-tenancy cloud approaches amongst enterprises, centralized program agencies, easier installation of circulated business processes, and uniform scalability and cheaper functional costs. The other key reasons thrusting the development of this sector constitutes the advantages like addition of centralized visibility and governing high cloud services.
A managed network services diminish the threats to the data secrecy and residency landmines with smart access management and automated security analysis. A managed network services incapacitates multi-tenancy security flaws by separating various business processes from shared environment. A managed network services allows only permitted access to database by securing access controls.
The market is broadly categorized into two major segments based on the application type such as telecommunication sector and IT vertical. The IT vertical was looked upon as one of the fastest growing segment in the managed network services with substantial revenue generation in the last few years. Growing popularity of managed network services the IT services segment is attributed to the network security services with data backup solutions.
The managed network services market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies, increase in the number of research & development activities in the region and existence of well-established IT infrastructure. Asia-Pacific region is predicted to hold the major market share in the managed network services with massive growth in forecast period.
Countries such as China, Singapore, India, and Australia are leading the Asia-Pacific market with better security compliant offerings by vendors, growing need for enhanced control and visibility mechanisms, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the managed network services are 3T systems, Acropolis Technology Group, Inc., AT&T, Inc., Cisco Systems, Inc., Aricent, Inc., Huawei Technologies Co., Ltd., Glowpoint, Inc., Hewlett and Packard (HP) Enterprises, Ericsson Ltd., Nokia Co., Alcatel-Lucent S.A., and International Business Machines (IBM) Co.
The market is divided into the following segments based on geography:
Global Managed Network Services Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
• Cisco Systems
• Huawei Technologies
Research Support Specialist, USA