Europe Managed Network Services Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Managed LAN, Managed Network Security, Managed Monitoring, Managed VPN, Managed WAN and Managed Wi-Fi), Deployment (Cloud and On-Premise), Organizat

Europe Managed Network Services Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Managed LAN, Managed Network Security, Managed Monitoring, Managed VPN, Managed WAN and Managed Wi-Fi), Deployment (Cloud and On-Premise), Organization Size (Large Enterprises and SMEs), and End-Use Vertical (BFSI, Government, IT & Telecommunication, Manufacturing, Media & Entertainment, Retail & e-Commerce, and Others)

The managed network services market in Europe is expected to grow from US$ 17,127.73 million in 2022 to US$ 32,256.71 million by 2028. It is estimated to grow at a CAGR of 11.1%from 2022 to 2028.
Rising Digital Transformation
The digital transformation uses technologies to create new or modify existing business processes and customer experiences to meet the ever-changing business environment. Digital transformation has common goals, such as improving efficiency, adding value, and promoting innovation. As companies are increasingly adopting digital transformation to deliver better customer experiences and compete more effectively, there is a growing need for services that support such modernization of information technology (IT) within different enterprises. Additionally, while companies seek to adopt digital transformation, the availability of skilled personnel and the cost of retaining them become hindrances for most enterprises. Managed network service providers, often termed managed service providers (MSPs), strongly aid in overcoming such hindrances. Enterprises can easily avail of their digital transformation service without the requirement of managing or maintaining an IT department within their enterprise.
The rising digital transformation is also boosting certain other factors, such as migration to the cloud and rapid growth in data generation. Companies have continually migrated their workloads to the cloud for better flexibility and workload portability. Hence, the public cloud is becoming an increasingly important asset for a company’s IT strategy. As such migrations are relatively complex, both large enterprises and small and medium enterprises (SMEs) are seeking MSPs for managed network services. By 2026, more than 85% of large enterprises are expected to seek assistance from managed network service providers for migrating applications to the cloud. Growth in data generation has paved the way for problems in managing such data. In 2021, enterprises contributed to creating, capturing, and replicating about 46 zettabytes of data. Most enterprises cannot derive valuable business insights from such huge amounts of generated data. Artificial intelligence (AI) and machine learning (ML) can be utilized for harnessing meaningful insights from such data; however, for doing so, companies first need to address certain critical aspects, including multicloud data management, data privacy, and data governance. For all such requirements, MSPs can strongly aid businesses by offering cost-effective solutions without requiring huge investments. Furthermore, while enterprises are willing to adopt digital transformation, they face a challenge in integrating their legacy systems with the technologically advanced newer technology. Either the required skill of the in-house IT team is inadequate, or integration cost becomes higher than expected. By partnering up with an MSP, all such challenges are easily transferred to the MSP without requiring additional investment in the workforce or infrastructure. Hence, the rising adoption of digital transformation is strongly aiding the Europe managed network services market growth.

Market Overview

Germany, France, Italy, UK, Russia, and Rest of Europe are the key contributors to the managed network services market in the Europe. The growing digital transformation in Europe supports the market growth for managed network services. Digital transformation offers several opportunities for European countries. There is a growing understanding that there is a need for action to foster the digital transformation of European businesses, especially for SMEs and traditional sectors. Moreover, Interreg Europe, co-funded by the European Union, is a cooperation program in Europe that strives to bring together the different regional and local government authorities to develop sustainable and innovative solutions to overcome regional developmental challenges. Several Interreg Europe projects tackle the digital transformation from different perspectives. Their policy aims to provide an overview of their good practices and policies on fostering SMEs' digital transformation, focusing on traditional sectors and SMEs with low digital maturity. Further, digital transformation drives the growth for higher agility in networks, which supports businesses in delivering better customer experience. Multiple European businesses plan to adopt new digital technologies as part of the digital transformation trend. As businesses progress with their digital efforts, every organization can be expected to partner with an MNS provider for its digital transformation. Furthermore, collaboration with such MNS providers can aid in understanding the needs of enterprises to bridge the skill gap of employees and enter new markets with advanced solutions. MNS providers have the required skill sets to support several facets of digital transformation. The increasing trend for digital transformation is expected to boost the Europe managed network services market.
Europe Managed Network Services Market Revenue and Forecast to 2028 (US$ Million) \

Europe Managed Network Services Market Segmentation

The Europe managed network services market is segmented into type, deployment, organization size, end-use vertical, and country.
Based on type, the market is segmented into managed lan, managed network security, managed monitoring, managed vpn, managed wan and managed wi-fi. The managed vpn segment registered the largest market share in 2022.
Based on deployment, the market is bifurcated into cloud and on-premise. The on-premise segment held a larger market share in 2022. Based on organization size, the market is bifurcated into large enterprises and SMEs. The large enterprises segment held the larger market share in 2022. Based on end-use vertical, the market is segmented into BFSI, government, it & telecommunication, manufacturing, media & entertainment, retail & e-commerce, and others. The IT & telecommunication segment registered the largest market share in 2022. Based on country, the market is segmented into Germany, France, Italy, UK, Russia, and rest of Europe. Germany dominated the market share in 2022. Accenture PLC; CISCO Systems, Inc; Cognizant Technology Solution Corporation; Fujitsu Limited; Huawei Technologies Co., Ltd; Kyndryl Inc; NTT Limited; Tata Consultancy Services Limited; Varizon Communication Inc; and HCl Technologies, Ltd are the leading companies operating in the managed network services market in the Europe.

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