Managed Network Services Market by Type ( Managed LAN, Managed Wi-Fi, Managed WAN, Managed IP/VPN, Managed Network Security), Vertical, and Region( North America, Asia Pacific, Europe, Middle East Africa, Latin America) - Global Forecast to 2028

Managed Network Services Market by Type ( Managed LAN, Managed Wi-Fi, Managed WAN, Managed IP/VPN, Managed Network Security), Vertical, and Region( North America, Asia Pacific, Europe, Middle East Africa, Latin America) - Global Forecast to 2028

The Managed Network Services market is estimated to be USD 65.7 billion to USD 89.9 billion at a CAGR of 6.5% from 2023 to 2028. Outsourcing to Managed Service Providers empowers organizations to bypass technology struggles and access global network reach even without dedicated resources. This liberates them from building, monitoring, and maintaining networks, allowing them to focus on core business. Compared to the costly, time-consuming, and challenging setup of in-house management, especially for cost-conscious SMEs, managed network services provide an attractive, efficient, and agile alternative.

By type, managed network security registers the highest growth rate in the Managed Network Services market during the forecast period.

Security emerges as the frontrunner for growth in the evolving managed network services landscape, driven by an ever-escalating threat landscape. Malicious actors pose a significant risk to business innovation, productivity, and compliance, demanding robust defenses. Fortunately, managed network security services offer a shield against these threats. By partnering with Managed Security Providers, enterprises can fortify their perimeters with stringent controls and safeguards, protecting mission-critical data and infrastructure from external exploits. Moreover, MSPs employ rigorous verification processes, conducting both internal and external compliance audits to ensure the continuous efficacy of their security technologies and operational procedures. This comprehensive approach empowers businesses to confidently navigate the cyber landscape, fostering innovation and growth unhindered by security concerns.

“By vertical, BFSI to account for largest market share in the Managed Network Services market during the forecast period.”

The BFSI sector stands poised to dominate the managed network services landscape, driven by a potential mix of opportunities. Financial institutions and insurance firms engage with the ever-increasing demand for seamless connectivity and internet access to facilitate secure and efficient financial transactions. Simultaneously, they are responsible for safeguarding sensitive data like transaction passwords, account numbers, and credit/debit card details, making robust security an absolute priority. Managed network services offer a compelling solution to these intertwined challenges. By outsourcing network management, BFSI institutions can ensure consistent, high-performance connectivity for online transactions, fostering customer satisfaction and operational efficiency. More importantly, partnering with managed service providers unlocks access to advanced security expertise, allowing them to fortify their defenses against cyber threats and data breaches. This tailored approach empowers BFSI organizations to focus on their core competencies while ensuring the utmost security and performance of their critical network infrastructure, ultimately bolstering their competitive edge in the dynamic financial landscape.

""Asia Pacific will register the highest growth rate in the Managed Network Services market during the forecast period.”

Driven by a growing population and skyrocketing mobile subscribers, Asia Pacific experiences explosive growth in internet users and communication demands. To address this surge, companies across the region are rapidly deploying advanced communications solutions, prioritizing high-speed data and superior voice quality. Leading vendors leverage their expertise to provide industry-specific services, incorporating cutting-edge security measures and stringent compliance standards. These tailored solutions empower organizations to maximize their IT investments, driving enhanced business outcomes. CenturyLink, a prominent managed network service provider, exemplifies this approach, aiding Asia Pacific customers in navigating their IT complexities and achieving successful digital transformation. Their robust portfolio enables limitless scalability, optimized cost-efficiencies, enhanced productivity, and on-demand service delivery, empowering enterprises to confidently navigate the region's dynamic network landscape.

Breakdown of primaries

The study contains insights from various industry experts, from solution vendors to Tier 1 companies. The break-up of the primaries is as follows:

By Company Type: Tier 1 – 62%, Tier 2 – 23%, and Tier 3 – 15%

By Designation: C-level –38%, D-level – 30%, and Others – 32%

By Region: North America – 40%, Europe – 15%, Asia Pacific – 35%, Middle East & Africa- 5%, Latin America-5%

The major players in the Managed Network Services market are IBM (US), Cisco (US), Ericsson (Sweden), Verizon (US), Huawei (China), AT&T (US), BT Group (UK), Telefonica (Spain), T-Systems (Germany), NTT (Japan), Orange (France), Vodafone (UK), Fujitsu (Japan), Lumen (US), Masergy (US), Colt Technology Services (UK), Telstra (Australia), CommScope (US) etc. These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, product enhancements, and acquisitions to expand their footprint in the Managed Network Services market.

Research Coverage

The study covers the Managed Network Services market size across different segments. It aims to estimate the market size and the growth potential across different segments, including type, vertical, and region. The study includes an in-depth competitive analysis of the leading market players, their company profiles, key observations related to product and business offerings, recent developments, and market strategies.

Key Benefits of Buying the Report

The report will help the market leaders/new entrants with information on the closest approximations of the global Managed Network Services market's revenue numbers and subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. Moreover, the report will provide insights for stakeholders to understand the market's pulse and provide them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (Need to unburden the IT staff, New connectivity demands increase complications in the IT environment), restraints (Concerns over data privacy and security, Increase in regulations and compliances), opportunities (Exponential growth in the global IP traffic and cloud traffic, Opportunity to provide value-added services above and beyond core network infrastructure and become true business partners) and challenges (Monitoring complex, multi-technology physical and virtual networks across customer networks, Managed network service providers struggling with marketing and sales efforts) influencing the growth of the Managed Network Services market. Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product and service launches in the Managed Network Services market. Market Development: Comprehensive information about lucrative markets – the report analyses the Managed Network Services market across various regions. Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the Managed Network Services market. Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like IBM (US), Cisco (US), Ericsson (Sweden), Verizon (US), Huawei (China), AT&T (US), BT Group (UK), Telefonica (Spain), T-Systems (Germany), NTT (Japan), Orange (France), Vodafone (UK), Fujitsu (Japan), Lumen (US), Masergy (US), Colt Technology Services (UK), Telstra (Australia), CommScope (US) etc.