Boston, MA -- (SBWIRE) -- 03/20/2017 -- 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
"Growing demand for managed network services, greater network accessibility, and superior network security, and the need for improving the business process at a minimum cost are driving the managed network services market"
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%. The managed network services market is driven by factors such greater network accessibility, management of the complex networks, and the need for improving the business process at a minimum cost. However, the managed network services market lacks in ensuring network security.
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"SMBs are expected to have the largest market share during the forecast period"
SMBs are expected to have the largest market share during the forecast period. SMBs have budget constraints and it is one of the major factors driving them to outsource their network functions to save additional installation, implementation, and maintenance-related expenses. Irrespective of size, both large enterprises and SMBs are selecting managed network services to gain benefits, such as reduction in network downtime and proactive monitoring & maintenance of their networks.
"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. The high demand for network security services with data backup solutions is increasing. The managed network services providers are responsible for creating managed network services, in compliance with the industry requirement and in providing comprehensive support for their clients. The managed network services are beneficial for operational efficiencies along with security, which helps drive new businesses and creates a better experience for end-users. Managed network services have enabled improved transactions such as greater network accessibility and superior network security at a minimum cost.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of profiles of primary participants is given below as:
-By Company Type: Tier 1 - 12%, Tier 2 - 32%, and Tier 3 - 56%
-By Designation: C level - 16%, Director level - 33%, Others - 51%
-By Region: North America - 25%, Europe - 49%, APAC - 15%, RoW- 11%
The various key managed network services vendors and service providers profiled in the report are as follows:
1. Accenture Plc (Dublin, Ireland)
2. Alcatel-Lucent Enterprise (Paris, France)
3. AT&T Inc. (Texas, U.S.)
4. Cisco Systems, Inc. (California, U.S.)
5. Ericsson (Stockholm, Sweden)
6. HCL Technologies Limited (Noida, India)
7. Hewlett Packard Enterprise Development LP (California, U.S.)
8. Huawei Technologies Co., Ltd. (Shenzhen, China)
9. International Business Machines (IBM) Corporation (New York, U.S.)
10. LG Networks, Inc. (Dallas, U.S.)
11. Wipro Limited (Bangalore, India)
-The report aims to analyze the managed network services market segmented on the basis of services, organization sizes, end-use verticals, and regions.
-It analyzes the opportunities for the stakeholders through the study of the competitive landscape in the managed network services market.
-It provides insights on core competencies and key growth strategies of companies in the managed network services market.
-The report forecasts the market size of the managed network services market and its various submarkets with respect to five regions: North America, Asia-Pacific (APAC), Europe, Middle-East and Africa (MEA), and Latin America.
Reasons to buy this report:
From an insight perspective, this research report has focused on various levels of analysis-industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the managed network services market; high-growth regions; and market drivers, restraints, challenges, and opportunities.
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