MarketsandMarkets forecasts the global Managed Network Services Market size to grow from USD 57.4 Billion in 2021 to USD 82.3 Billion by 2026, at a Compound Annual Growth Rate (CAGR) of 7.5% during the forecast period. The presence of various key players in the ecosystem has led to competitive and diverse market. Businesses rely on outsourced network management to generate efficiencies, resulting in better usage of resources and reduced expenditure. Organizations turn to MSPs for help rather than struggling to keep pace with technology. With managed network services, global network services are made available for organizations that do not have global resources available internally, eliminating the hassle of building, monitoring, and maintaining their network and giving them the freedom to focus on the core business. Hence, managed network services are an attractive alternative to the costly, time-consuming business of in-house network management services, which are difficult to install and manage for SMEs where cost is a significant factor.
The managed network security to record a higher growth rate during the forecast period
In the managed network services market by type, the managed network security is expected to record a higher growth rate during the forecast period. The threats to systems and data impede business innovation, limit productivity, and damage compliance efforts. Managed network security services protect enterprise perimeter from all manner of security threats. MSPs employ strong security controls and safeguards to protect enterprise network services and customer information from external exploits, and continuously verify technologies and security operational processes through internal and external compliance audits.
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Large Enterprises are expected to hold a larger market share during the forecast period
By Organisation size, large enterprises are expected to hold the largest market size. The major reason for large enterprises to adopt managed network services is consistent and reliable services with a global reach and operational cost reductions. Large enterprises these days realize outsourcing some of the network operations is beneficial; hence, adopt managed network services. These enterprises work under tremendous pressure and time constraints to uphold their position in the market and maintain their customer base.
MSPs ensure organizations’ IT infrastructure is upgraded and updated on par with the latest technological innovations and help them stay ahead of the curve. They put efforts into securing the IT infrastructure of organization. MSPs currently are focusing on accelerating acceptance and implementation of Secure Access Service Edge (SASE). MSPs help enterprises in converging networking and security across every network edge to ensure consistent threat protection, better user experience, and high performance, as they are armed with large teams of network and security professionals. Thus, managed network services offer a systematic approach to manage an organizations network and security needs. The increased hostility of threats and attacks on the network, and the advent of sophisticated cybercriminals are compelling businesses to upgrade their network security systems constantly. These network threats and attacks are fast-moving and increasing by number and severity. Factors such as the cost of employing in-house network security staff and the lack of network experts drive the adoption of managed network services among enterprises.
The report covers the competitive landscape and profiles of major market players, such as 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), Singtel (Singapore), GTT Communications (US), Global Cloud Xchange (UK), Brennan IT (Australia), Sify (India), Aryaka Networks (US), SCloudX (US), Optanix (US), DXC Technology (US), Oman Data Park (Oman), Servsys (US), FlexiWAN (Israel), Bigleaf (US), Wipro (India) and Comarch (Poland). These players have adopted several organic and inorganic growth strategies, including new product launches, partnerships and collaborations, and acquisitions, to expand their offerings and market shares in the global managed network services market.
Cisco provides managed network services such as Cisco Meraki, Managed Security Services, SD-WAN and Cloud OnRamp. Cisco Meraki protects user data and constantly innovates to help safeguard user data and devices. This is a powerful defense feature provided by Cisco. It includes cloud managed security, SD-WAN, and cloud managed wireless. Managed security efficiently manages, detects, and responds to network threats. Cisco have an active threat analytics team, with Security Operations Center (SOC), which offers 24 hours managed security services. These services include incident response services. Cisco SD-WAN lets the clients take control of their business from anywhere. It is based upon internet, cloud, and software-as-a-service and would provide right security to the network, which can be in on-premises or cloud-hosted. It is powered by Viptela/IOS XE.
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Cisco focuses on Y-o-Y growth with organic and inorganic growth strategies. For instance, in May 2021, Cisco acquired Kenna Security Inc. With this acquisition, Cisco would help reduce the attack surface and the time to detect and respond. In the same year in March, Cisco announced an expanded engagement with AMD to help businesses accelerate advanced digital experiences and improve hybrid cloud operations.
Ericsson is one of the prominent players in the managed network services market. The firm intends to provide Ericsson operations engine, which is an AI and data-driven solution, providing intelligent, predictive, mobile networks. This advances network and IT operations and enable Communication Service Provide (CSP) and businesses to establish effective connection to their customers.
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