Managed Network Services Market By Type (Managed LAN, Managed Wi-Fi, Managed VPN, Managed WAN, Network Monitoring), By Network Security (Managed Firewall, Managed IDS/IPS), By Verticals (Banking, Financial Services & Insurance, Retail & Ecommerce, IT & Telecom, Manufacturing, Government, Education, Healthcare, Media & Entertainment) and By Region; Global Insights & Forecast (2024 – 2030)

As per Intent Market Research, the Managed Network Services Market was valued at USD 63.2 billion in 2023 and will surpass USD 96.9 billion by 2030; growing at a CAGR of 6.3% during 2024 - 2030.

The Managed Network Services Market is poised for significant growth as organizations increasingly seek to enhance operational efficiency and reduce IT infrastructure costs. Managed network services encompass a variety of solutions, including network monitoring, management, and support, allowing businesses to offload network-related tasks to specialized providers. This shift not only facilitates better performance and reliability but also enables organizations to focus on their core competencies. The growing demand for cloud-based solutions, the need for improved network security, and the rising complexity of IT environments are driving this market's expansion.

Cloud Managed Services Segment is Fastest Growing Owing to Increased Adoption of Cloud Technologies

The Cloud Managed Services segment within the managed network services market is witnessing rapid growth, fueled by the escalating adoption of cloud technologies across various industries. As organizations increasingly migrate their operations to the cloud, they require robust management services to ensure seamless integration, performance, and security. Cloud Managed Services encompass a range of offerings, including cloud infrastructure management, application management, and data storage solutions. The convenience and scalability that cloud services provide are appealing to businesses aiming to optimize costs and improve operational efficiency.

Furthermore, the COVID-19 pandemic accelerated the shift to remote work and cloud solutions, prompting organizations to prioritize cloud-managed services. As businesses adapt to a hybrid work environment, the demand for flexible and scalable managed services is expected to surge. By 2030, the Cloud Managed Services segment is projected to dominate the market, driven by ongoing digital transformation initiatives and the growing reliance on cloud-based applications.

Network Security Services Segment is Largest Owing to Heightened Cybersecurity Concerns

The Network Security Services segment stands out as the largest within the managed network services market, primarily due to the escalating concerns surrounding cybersecurity threats. Organizations are increasingly investing in managed security services to protect their critical data and infrastructure from cyberattacks, data breaches, and other malicious activities. Network Security Services encompass solutions such as firewalls, intrusion detection and prevention systems, and security information and event management (SIEM). The heightened awareness of cybersecurity risks and compliance mandates across industries further contribute to the growth of this segment.

In addition, the rise in remote work arrangements has led to an expanded attack surface, prompting organizations to seek comprehensive security solutions. Managed Network Security Services provide businesses with the expertise and resources to monitor and manage their security posture effectively. This segment is projected to maintain its position as the largest within the market through 2030, driven by continuous advancements in cybersecurity technologies and the increasing necessity for organizations to safeguard their digital assets.

Network Monitoring Segment is Fastest Growing Owing to Demand for Proactive Network Management

The Network Monitoring segment is emerging as the fastest-growing component of the managed network services market, as organizations recognize the critical importance of proactive network management. With the increasing complexity of network infrastructures and the proliferation of connected devices, real-time monitoring has become essential for maintaining optimal performance and minimizing downtime. Network Monitoring services provide organizations with insights into network traffic, performance metrics, and potential issues, enabling them to address problems before they escalate.

As businesses adopt more sophisticated technologies, such as the Internet of Things (IoT) and edge computing, the demand for comprehensive network monitoring solutions is expected to rise. By 2030, the Network Monitoring segment is projected to experience significant growth, driven by the need for enhanced visibility and control over network performance, as well as the desire to improve user experiences and operational efficiency.

Network Infrastructure Services Segment is Largest Owing to Foundation of Managed Services

The Network Infrastructure Services segment is recognized as the largest within the managed network services market, serving as the backbone for all managed service offerings. This segment encompasses the design, implementation, and management of network infrastructure, including routers, switches, and other hardware components. The growing need for reliable and high-performance networks is driving organizations to invest in comprehensive infrastructure services that can support their digital transformation initiatives.

With the rising demand for high-speed connectivity and the transition to cloud-based applications, businesses are increasingly turning to managed network infrastructure services. These solutions provide organizations with the expertise needed to design and deploy robust networks that can accommodate increasing data traffic and bandwidth demands. As businesses continue to expand their digital capabilities, the Network Infrastructure Services segment is expected to maintain its leadership position in the market through 2030.

Geographical Insights: North America Leads Owing to Advanced Technological Infrastructure

North America is projected to be the largest region in the Managed Network Services Market, driven by its advanced technological infrastructure and a high concentration of managed service providers. The region's enterprises are at the forefront of adopting innovative technologies, leading to increased demand for managed network services that can ensure seamless operations. Factors such as robust internet connectivity, a mature IT landscape, and heightened cybersecurity concerns further contribute to the region's growth.

Moreover, the presence of key market players in North America, coupled with significant investments in digital transformation initiatives, is expected to bolster the managed network services market in this region. By 2030, North America is anticipated to maintain its position as the dominant region in the managed network services market, supported by ongoing advancements in technology and a strong emphasis on security and performance optimization.

Competitive Landscape: Leading Companies Shaping the Managed Network Services Market

The Managed Network Services Market is characterized by a competitive landscape with several key players vying for market share. Leading companies such as IBM, Cisco Systems, AT&T, and Accenture are at the forefront of this industry, providing a wide range of managed services to meet the diverse needs of businesses. These companies leverage their extensive expertise, technological capabilities, and strong customer relationships to deliver innovative solutions and maintain a competitive edge.

In addition to established players, several emerging companies are also entering the market, bringing fresh perspectives and innovative offerings. The competitive dynamics in the managed network services market are further influenced by factors such as technological advancements, service differentiation, and strategic partnerships. As organizations continue to seek reliable and efficient managed network services, the competitive landscape is expected to evolve, with both established and new players contributing to the market's growth.

Report Objectives:

The report will help you answer some of the most critical questions in the Managed Network Services Market. A few of them are as follows:

1. What are the key drivers, restraints, opportunities, and challenges influencing the market growth?
2. What are the prevailing technology trends in the Managed Network Services Market?
3. What is the size of the Managed Network Services Market based on segments, sub-segments, and regions?
4. What is the size of different market segments across key regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa?
5. What are the market opportunities for stakeholders after analyzing key market trends?
6. Who are the leading market players and what are their market share and core competencies?
7. What is the degree of competition in the market and what are the key growth strategies adopted by leading players?
8. What is the competitive landscape of the market, including market share analysis, revenue analysis, and a ranking of key players?

Report Scope: