Managed Network Services Market - By Type (Managed Local Area Network, Managed Virtual Private Network, Managed Wide Area Network, Managed Wi-Fi, Managed Security, Managed Monitoring), By Organization Size, Deployment Model, By Application & Forecast, 202

Managed Network Services Market - By Type (Managed Local Area Network, Managed Virtual Private Network, Managed Wide Area Network, Managed Wi-Fi, Managed Security, Managed Monitoring), By Organization Size, Deployment Model, By Application & Forecast, 2023 - 2032

Managed network services market size is slated to expand at over 6.5% CAGR from 2023 to 2032, driven by the increasing complexity of IT infrastructures and the escalating demand for efficient network management solutions.

The ongoing digital transformation across industries is necessitating robust network solutions, further fostering the adoption of managed network services to meet the evolving technological demands and ensure seamless connectivity and performance. For instance, in February 2023, Huawei, a prominent ICT infrastructure provider, launched its Digital Managed Network solution and products for B2B services to assist carriers in capitalizing on digital transformation opportunities and fostering new growth prospects. The proliferation of cloud computing, IoT devices, and the greater need for scalable and agile networks will push the industry growth.

The managed network services market is segregated based on type, organization size, deployment model, operator, and region.

With respect to type, the industry share from the managed VPN segment is projected to increase at appreciable CAGR from 2023 to 2032, owing to the increased demand for secure and scalable network solutions. The rising concerns about data security is prompting the need for remote connectivity and the growing demand for efficient management of virtual private networks.

Based on organization size, the managed network services industry revenue share from the SMEs segment is estimated to rise at significant CAGR during 2023-2032. The growth can be attributed to the rising adoption of cost-effective and scalable network solutions. SMEs increasingly deploy managed services to boost network performance, enhance security, and streamline IT operations.

In terms of deployment model, the cloud segment is expected to accumulate sizeable market share by 2032, driven by the increasing preference for scalable and flexible solutions. The surging demand for cost-effective and centralized network management systems will accelerate the segment growth.

Regionally, the Europe managed network services industry is projected to grow at rapid pace by 2032. This is due to the increasing focus on digital transformation, the rising demand for efficient network management, and the growing emphasis on cybersecurity in the region. The adoption of advanced technologies and the incessant need for seamless connectivity solutions will further boost the regional market development.