The managed network services market was valued at USD 79.69 billion in the previous year, and it is expected to record a CAGR of 12.19%, reaching USD 149.28 billion over the forecast period. Increasing business process efficiency by cost optimization and high penetration of mobility, cloud computing, and big data technology are some of the major factors driving the market growth.
The managed network services market is fragmented with small players and dominated by major players, such as IBM Corporation, HCL Technologies Limited, Dell, Verizon, Accenture PLC, and others, with a strong client base. These players are constantly providing increased and enhanced offerings, along with newer expansions, partnerships, and acquisitions; the level of market penetration is favorable to the market, and it is providing major competitiveness.
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