According
to the new market research report "Managed
Network Services Market
by Service (Managed Internet Access and Network Provisioning, VPN, Data
Storage, Network Monitoring, Network Security, and Hosted IP Telephony),
Organization Size, End-Use Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets™,
the managed network services market size is expected to grow
from USD 38.60 Billion in 2016 to USD 59.38 Billion by 2021, at an estimated
Compound Annual Growth Rate (CAGR) of 9.0%.
Increasing
need for managed network services, effective management of business processes,
reduced operating cost, and need for security are main drivers of the managed
network services market.
Browse and
in-depth TOC on "Managed
Network Services Market"
62
- Tables
49
- Figures
159
- Pages
“Managed network security services are expected to grow at the
highest CAGR during the forecast period”
The managed
network services market of the software solutions is expected to grow at an
impressive CAGR during the forecast period, as there is an increasing demand
for network security services with data backup solutions. The managed network
service providers are responsible for creating managed network services, in
compliance with the industry requirements and in providing comprehensive
support for their clients. The managed network services provide operational
efficiencies along with security. They also help in driving new businesses and
providing better experience for end-users.
“Telecom and IT vertical is expected to grow at a higher growth
rate during the forecast period of 2016–2021”
The telecom
and IT end-use vertical is estimated to hold the largest market share in 2016.
The telecom and IT vertical requires high connectivity for connecting users and
collaborating with partners as well as customers. The vertical is highly
competitive due to the increasing number of small and medium businesses and
enhancements in across its segments.
“Asia-Pacific region is expected to witness a high growth during
the forecast period”
North
America is estimated to hold the largest market share in 2016, while APAC will
be the fastest growing region in terms of CAGR. As various vendors such as
networking providers, telecom carriers, and technology vendors are trying to
capture the APAC market. Moreover, number of emerging market players are
hosting from the APAC region.
The
major application providers in the managed network services market include
Accenture (Dublin, Ireland), Alcatel-Lucent Enterprise (Paris, France),
AT&T Inc. (Texas, U.S.), Cisco Systems, Inc. (California, U.S.), Ericsson
(Stockholm, Sweden), HCL Technologies Limited (Noida, India), Hewlett Packard
Enterprise Development LP (California, U.S.), Huawei Technologies Co., Ltd.
(Shenzhen, China), International Business Machines (IBM) Corporation (New York,
U.S.), LG Networks, Inc. (Dallas, U.S.), and Wipro Limited (Bangalore, India).
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