Managed Network Services Market is Anticipated to Generate Significant Revenues by 2027

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Managed Network Services Market Development
Trends and Growth Drivers Analysis by 2027

• The global managed network services market is
  poised to record appreciable growth through 2027,
  given the rising focus of industry players
  towards the introduction of technological
  advancements. According to the latest study by
  Global Market Insights, Inc., the global managed
  network services market share is estimated to
  exceed USD 95 billion by 2027.
• Citing a recent collaboration between prominent
  market players, Verizon Business, an IT and
  communication service provider, and Cisco were in
  news in February 2021 for the expansion of their
  longstanding strategic partnership. These managed
  network services providers have added three new
  SD-WAN managed services offerings to their
  extensive product portfolio.

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• Impelled by such initiatives, the market is
  further driven by increasing demand for managed
  VPN services that help in the configuration,
  designing, and management of a firewall and a
  secure encrypted tunnel for the transmission of
  data over the internet. The managed VPN service
  segment is expected to depict a remarkable CAGR
  of nearly 10 per cent through 2027.

• This is because several mid and large-sized
  enterprises are considering the deployment of VPN
  services across their business operations for
  resilient, fast, and scalable networks. The rise
  in demand is also attributed to a number of
  reliable features comprising integrity, data
  confidentiality, and authentication. In addition,
  these services are also gaining traction due to
  the rising inclination towards high enterprise
  mobility and remote access.

• The IT telecom segment in the managed network
  service market is expected to account for a
  remarkable share of the overall revenue through
  2027 due to rising internet penetration and the
  increasing number of smartphones. Network
  operators are also focusing on the provision of
  adequate bandwidth and the upgradation of network
  infrastructure for the removal of network
  congestion. The launch of 5G network services
  coupled with the increasing demand for
  cloud-based services is expected to drive the
  demand for managed services over the coming years.

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• Regional Analysis

• North America managed network services industry
  is slated to expand at an appreciable CAGR of 5
  per cent through the estimated period. This
  growth is ascribed to the rising competition
  amongst major players for the provision of a
  better customer experience and the surging demand
  for high-speed networks. The increasing adoption
  of cloud networking is a significant factor
  fostering the growth of managed network services
  in the region.

• Competitive Analysis

• The regional industry is further propelled by the
  extensive presence of eminent managed network
  services companies, comprising Cisco Systems,
  Inc., ATT Inc., and IBM Corporation.

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