Global Managed Network Services Market to Surpass USD 110.56 Billion by 2030, Recording a CAGR of 10.20%, Driven by Rapid Digital Transformation, States Kings Research

DUBAI, UAE, Nov. 21, 2023 /PRNewswire/ -- As per the latest report published by Kings Research, the global Managed Network Services Market size was recorded at USD 55.87 billion in 2022 and is estimated to grow to USD 110.56 billion by 2030, exhibiting a 10.20% CAGR over the forecast period of 2023-2030. The demand for managed network services is increasing as firms seek to improve their efficiency by outsourcing infrastructure and technical support. This includes managing critical components such as servers, routers, switches, and communication systems. This trend reflects the importance of reliable network services in modern communication.

Managed network services entail the outsourcing of an organization's network management, which includes design, deployment, monitoring, maintenance, and support. This allows organizations to focus on core activities while specialists handle network management. This approach benefits diverse industries, streamlining network operations, minimizing downtime, and increasing production. It provides proactive monitoring, quick issue response, and minimal disruptions.

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Global Managed Network Services Market Report Snapshot:

Trending Now: Verizon Business and HCLTech Forge Global Partnership for Managed Network Services

On August 10, 2023, Verizon Business announced a worldwide strategic partnership, designating HCLTech as its primary collaborator for Managed Network Services (MNS) across all global enterprise customer networking deployments. This alliance unites two global enterprise networking giants, leveraging Verizon's networking expertise and scale with HCLTech's top-tier Managed Service capabilities, heralding a new era of extensive wireline service delivery for enterprises.

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Competitive Landscape

Key players operating in the global managed network services industry are focusing on product innovation in order to maintain their market standing. For instance, Lumen Technologies launched its main feature on its Network-as-a-Service (NaaS) platform in July 2023, marking a huge step forward in its plan to revolutionize the telecom industry.

Key participants in the global managed network services market include:

• Verizon
• Telefonaktiebolaget LM Ericsson
• Fujitsu
• Accenture
• Amazon Web Services, Inc.
• Wipro
• Lumen Technologies
• Kyndryl Inc.
• Sierra Wireless
• Telstra Corporation Limited
• NTT Ltd

The global Managed Network Services Market is segmented as:

By Type

• Managed LAN
• Managed WiFi
• Managed WAN
• Network Functions Virtualization
• Others

Increased Connectivity Requirements to Boost Demand for Managed WAN Services

In terms of type, the managed WAN segment accounted for the largest share of the global managed network services market in 2022. Global businesses increasingly need powerful managed WAN services to keep up with their increased connectivity requirements. Managed WAN services are critical for businesses to achieve consistent connectivity, optimize bandwidth utilization, and boost overall network performance. As businesses continue to develop globally, the demand for efficient and effective managed WAN services that enable smooth communication and data transmission across different sites has increased substantially.

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By Deployment

• On-premises
• Cloud-based

Rising On-Premises Deployment to Bolster Managed Network Services Market Expansion

On the basis of deployment, the on-premises segment dominated the global managed network services market in 2022 due to its advantages, such as not requiring an internet connection and enabling tailored software for specific business processes. Additionally, on-premises deployment aids in improving operational performance and establishing a command and control center for efficiently coordinating and managing various project management tasks and business activities inside an organization.

Growing Importance of AI for Managing Complex Networks to Drive Market Growth

The global managed network services market is experiencing significant growth as a result of the growing importance of Artificial Intelligence (AI) and automation for managing complex networks. Managed network service providers are integrating AI-powered solutions and automation tools to elevate network monitoring, troubleshooting, and optimization. For instance, in February 2023, Steven Zhao, the Vice President of the Data Communication Product Line at Huawei, unveiled the Digital Managed Network Solution, along with a suite of products designed specifically for carriers' B2B services at MWC Barcelona 2023. This offering empowers carriers to seize the opportunities presented by digital transformation and forge new paths for expansion. The solution equips carriers with digitally managed network capabilities and an extensive range of products, facilitating their shift from being Internet Service Providers (ISPs) to becoming Managed Service Providers (MSPs).

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AI has the capability to forecast and preempt network complications, while automation excels at optimizing everyday tasks such as configuration management and security updates. These advancements not only elevate network efficiency but also ease the burden on IT personnel, which is positioning them as pivotal trends in the managed network services sector. This comes as organizations pursue heightened efficiency and dependability in their network operations.

Asia Pacific Leads Managed Network Services Market with Surging Data Centre Expansion 

Asia Pacific led the global managed network services market in 2022, primarily due to the increased deployment of 5G network services and rapid growth of data centers in the region, which has brought about a boom in demand for network services in China. For instance, China has seen a staggering rise in its 5G infrastructure, with over 960,000 base stations deployed, including 190,000 in the first half of 2021 alone. The number of linked 5G devices has surpassed 360 million, with 128 million 5G phones sold. These improvements have driven organizations to seek the support of MNS providers in navigating the complexities of technologies such as 5G, assuring optimal security and scalability while managing their operations.

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Key Points from TOC:

Chapter 1 Introduction of the Global Managed Network Services Market 

1.1 Market Definition

1.2 Market Segmentation

1.3 Research Timelines

1.4 Limitations

1.5 Assumptions

Chapter 2 Executive Summary

Chapter 3 Research Methodology

3.1 Data Collection

3.1.1 Secondary Sources

3.1.2 Primary Sources

3.1.3 Research Flow

3.2 Subject Matter Expert Advice

3.3 Quality Check

3.4 Final Review

3.5 Bottom-Up Approach

3.6 Top-down Approach

Chapter 4 Global Managed Network Services Market Outlook

4.1 Market Evolution

4.2 Overview

4.3 Market Dynamics

4.4 Pricing Analysis

4.5 Porter's Five Forces Analysis

4.6 Value Chain Analysis

4.7 Macroeconomic Analysis

Chapter 5 Impact of Russia-Ukraine War

Chapter 6 Global Managed Network Services Market, By Type

Chapter 7 Global Managed Network Services Market, By Deployment

Chapter 8 Global Managed Network Services Market, By Organization Size

Chapter 9 Global Managed Network Services Market, By Vertical

Chapter 10 Global Managed Network Services Market, By Geography

Chapter 11 North America 

Chapter 12 Europe 

Chapter 13 Asia Pacific 

Chapter 14 Middle East & Africa 

Chapter 15 Latin America 

Chapter 16 Global Managed Network Services Market Competitive Landscape

Chapter 17 Company Profiles

17.1 Verizon

17.1.1 Key Facts

17.1.2 Financial Overview

17.1.3 Product Benchmarking

17.1.4 Recent Developments

17.1.5 Winning Imperatives

17.1.6 Current Focus & Strategies

17.1.7 Threat from competition

17.1.8 SWOT Analysis

17.2 Telefonaktiebolaget LM Ericsson

17.2.1 Key Facts

17.2.2 Financial Overview

17.2.3 Product Benchmarking

17.2.4 Recent Developments

17.2.5 Winning Imperatives

17.2.6 Current Focus & Strategies

17.2.7 Threat from competition

17.2.8 SWOT Analysis

17.3 Fujitsu

17.3.1 Key Facts

17.3.2 Financial Overview

17.3.3 Product Benchmarking

17.3.4 Recent Developments

17.3.5 Winning Imperatives

17.3.6 Current Focus & Strategies

17.3.7 Threat from competition

17.3.8 SWOT Analysis

17.4 Accenture

17.4.1 Key Facts

17.4.2 Financial Overview

17.4.3 Product Benchmarking

17.4.4 Recent Developments

17.4.5 Winning Imperatives

17.4.6 Current Focus & Strategies

17.4.7 Threat from competition

17.4.8 SWOT Analysis

17.5 Amazon Web Services, Inc.

17.5.1 Key Facts

17.5.2 Financial Overview

17.5.3 Product Benchmarking

17.5.4 Recent Developments

17.5.5 Winning Imperatives

17.5.6 Current Focus & Strategies

17.5.7 Threat from competition

17.5.8 SWOT Analysis

Continued........

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