The managed network services market is projected to grow from USD 65.7 billion in 2023 to USD 89.9 billion by 2028 at a CAGR of 6.5% during the forecast period. Adopting cloud computing drives the demand for managed network services, as organizations require reliable and secure connectivity to access cloud-based applications and services. Managed service providers offer solutions to optimize network connectivity to cloud environments and ensure seamless integration.
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The diverse and competitive landscape of managed network services empowers businesses through enhanced efficiency. By outsourcing network management, organizations unlock optimized resource utilization and reduced expenses. Leveraging Managed Service Providers (MSPs) alleviates the burden of keeping pace with technology, allowing internal resources to focus on core competencies. Managed networks further provide global reach even for resource-constrained organizations, eliminating the complexities of building, monitoring, and maintaining internal infrastructure. This frees them to concentrate on their core business objectives. Compared to the costly and time-consuming in-house approach, particularly challenging for SMEs where cost is paramount, managed services offer a compelling alternative. They eliminate installation and management complexities, paving the way for increased agility, cost-effectiveness, and freedom for businesses of all sizes.
By type, managed network security is expected to register the fastest growth rate during the forecast period.
The segment dedicated to managed network security is poised for the most significant growth within the managed network services market. This surge is driven by the ever-present threat landscape that compromises systems, hinders productivity, and disrupts compliance efforts. By partnering with Managed Security Providers (MSPs), businesses safeguard their perimeters against diverse security threats. These providers implement robust controls and protections to defend network services and customer data from external exploits, continually validating technologies and procedures through internal and external audits. This comprehensive approach empowers businesses to confidently pursue innovation and growth, unburdened by the complexities of modern cybersecurity challenges.
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Unique Features in the Managed Network Services Market
In addition to proactive maintenance and quick issue resolution, managed network service providers provide round-the-clock monitoring and assistance to guarantee network availability, performance, and security.
Providers provide specialised solutions that are in line with company objectives, financial restrictions, and scalability requirements by tailoring managed network services to each client’s unique needs and requirements.
Advanced security features like firewall management, intrusion detection and prevention, antivirus software, and data encryption are all part of managed network services, which guard against online threats and guarantee the confidentiality and integrity of data.
In order to ensure the best possible user experience and network efficiency, providers manage bandwidth, prioritise traffic, configure Quality of Service (QoS), and monitor network performance.
With managed network services, businesses can simply scale network resources up or down based on demand without having to make large infrastructure expenditures. This flexibility and scalability allow businesses to adapt to changing business needs.
Major Highlights of the Managed Network Services Market
The necessity for dependable connection and security, the growing complexity of networks, and the popularity of remote work are all driving substantial growth in the managed network services industry.
Managed network services are becoming more and more popular among businesses as a way to delegate network management tasks, save money on operations, and guarantee security and performance.
Managed network service providers are emphasising security in response to the expanding threat landscape. They provide sophisticated threat detection, prevention, and response capabilities to guard against cyberattacks and data breaches.
With the flexibility and scalability that managed network services provide, businesses can quickly and affordably scale their network infrastructure up or down in response to demand.
By utilising cutting-edge technologies like SD-WAN, QoS, and traffic optimisation, managed network services contribute to enhanced network performance by guaranteeing dependable and effective user connectivity.
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Top Companies in the Managed Network Services Market
The major vendors covered in the managed network services market include 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). These players have adopted various growth strategies to expand their managed network services market presence, such as partnerships, business expansions, agreements, collaborations, and new product launches.
AT&T is one of the largest communication companies across the globe. It offers telecommunications media and technology services, such as voice and data communications, to consumers, providers, and businesses. Managed network services from AT&T include AT&T Business Wi-Fi, AT&T Managed Threat Detection and Response, Premises-based Firewall, Managed LAN, AT&T Network-Base Firewall Service, Managed SD-WAN, Managed VPN, AT&T Business Wi-Fi, and Intrusion Detection and Prevention Service. AT&T Business Wi-Fi is a cloud-managed Wi-Fi solution. Network-based Firewall Service is a security management reporting tool that allows enterprises to review bandwidth usage, address security-related compliance issues, and configure their firewall security services according to its specific corporate security policies. Premises-based Firewall Service provides a fully managed end-to-end solution to help enterprises increase their network’s security. AT&T Managed Threat Detection and Response provides coordinated threat detection, incident response, and threat management to help protect enterprises against pervasive, potentially destructive cyberattacks and increase network security. Some of the key subsidiaries of AT&T are AT&T Teleholdings, Inc. (US), AT&T Corp. (US), AT&T Mobility LLC (US), AT&T Mobility Group BV (Netherlands), DIRECTV, LLC (US), DIRECTV Latin America, LLC (US), and SKY Brasil Services Ltd. (Brazil). It has a strong footprint in North America, especially in the US.
BT Group is the world’s oldest telecommunications company. The company develops and sells communications products and services and builds and operates networks essential to modern lives, businesses, and communities. The company focuses on four main product markets: fixed voice, mobile, converged connectivity, and networked IT services. Under Global Services, the company is one of the leading enterprise communications providers. It offers managed network and IT infrastructure services and serves enterprise customers in 180 countries to enable customers’ digital transformations. Under the Open Reach segment, the company builds and operates the fixed network that connects the UK’s homes and businesses. Managed network services from BT Group include Managed SD-WAN, Managed WAN, asand Ethernet VPN.
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