Global Cloud Managed Network Market size was valued at USD 27.56 billion in 2022, and is projected to reach USD 42.57 billion by 2032 at a CAGR of 10.5% from 2023 to 2032.
The cloud managed network market refers to a type of network infrastructure that is managed through cloud-based platforms and services. This approach offers numerous benefits, including increased scalability, flexibility, and cost-effectiveness. In essence, it allows organizations to outsource their network management responsibilities to a third-party provider who can manage and monitor their network infrastructure remotely. One of the key trends in the cloud managed network market is the growing adoption of cloud-based networking solutions. This is due to the increasing demand for agile and scalable network infrastructures that can support the needs of modern digital businesses. Additionally, the rising popularity of cloud computing and software-as-a-service (SaaS) applications has also contributed to the growth of this market.
Another trend in this market is the increasing use of software-defined networking (SDN) and network function virtualization (NFV) technologies. These technologies allow for greater automation and orchestration of network functions, which can help reduce the complexity of network management and improve overall efficiency. There are also numerous opportunities in the cloud managed network market. For example, there is a growing demand for managed network services among small and medium-sized businesses (SMBs) who lack the resources to manage their own network infrastructures. Additionally, there is a significant opportunity for cloud managed network providers to offer value-added services such as security, analytics, and optimization. One of the challenges facing the cloud managed network market is the complexity of migrating existing network infrastructures to a cloud-based model. This can be particularly challenging for large enterprises with complex network environments. Additionally, there are concerns around data security and privacy when outsourcing network management responsibilities to a third-party provider.
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Growing increasing demand for digital transformation among businesses. is propelling the market growth.
In today’s digital age, organizations are under pressure to adopt new technologies and processes that can help them stay competitive and meet the evolving needs of their customers. As a result, many businesses are investing heavily in digital transformation initiatives, which often require a modern and agile network infrastructure to support them.
Cloud managed network services offer a number of benefits that are particularly attractive to businesses undergoing digital transformation. For example, they can provide a scalable and flexible network infrastructure that can support the rapid deployment of new applications and services. Additionally, they can help reduce the burden on in-house IT teams, freeing up resources that can be allocated to more strategic initiatives. Another factor driving the demand for cloud managed network services is the increasing complexity of network infrastructures. Today’s networks are more complex than ever before, with a wide variety of devices, applications, and services all needing to be connected and managed. This can be a significant challenge for in-house IT teams, who may lack the resources or expertise to manage these complex environments effectively. Cloud managed network services can help alleviate this burden by providing a centralized management platform that can monitor and manage all aspects of the network from a single interface.
Impact of COVID-19 on the global Cloud Managed Network Market:
The COVID-19 pandemic has accelerated the adoption of cloud-based technologies and remote work practices, as many businesses have had to rapidly shift to remote work in order to maintain operations during the pandemic. This has increased the demand for cloud managed network services, as organizations look to ensure that their network infrastructure can support remote work practices and the increased use of cloud-based applications and services. The pandemic has also had an impact on the supply chain and manufacturing operations of cloud managed network vendors, which has led to disruptions in the market. Additionally, the economic uncertainty caused by the pandemic has led some businesses to delay or reduce their investment in IT infrastructure and services, which could impact the growth of the cloud managed network market in the short term.
Market Segmentation:
By Deployment
• Cloud
• On Premise
By Organization size
• Small and medium-sized enterprises (SMEs)
• Large enterprises.
Key Player:
- Cisco Systems, Inc.
• Hewlett Packard Enterprise Company
• IBM Corporation
• Juniper Networks, Inc.
• NEC Corporation
• NTT Communications Corporation
• Verizon Communications, Inc.
• Amazon Web Services, Inc.
• Microsoft Corporation
• Google LLC
• AT&T, Inc.
• Dell Technologies, Inc.
• BMC Software, Inc.
• BMC Networks, Inc.
• Rackspace Technology, Inc.
• Orange S.A.
• Vodafone Group Plc.
Regional Analysis:
Currently, North America dominates the cloud managed network market, followed by Europe and the Asia-Pacific region. This is due to the high adoption of cloud-based technologies in North America, particularly in the United States, as well as the presence of major cloud service providers and network management companies in the region. Additionally, the large number of SMEs in North America has also contributed to the growth of the market, as these organizations often lack the resources to manage their own network infrastructures and are therefore more likely to outsource to cloud managed network service providers.
However, the Asia-Pacific region is expected to show the highest growth rate in the cloud managed network market in the coming years, due to the increasing adoption of cloud-based technologies and digital transformation initiatives in countries such as China and India. Additionally, the growing number of SMEs in the region is expected to drive demand for cloud managed network services, as these organizations look to outsource their network management responsibilities to third-party providers in order to focus on core business activities.
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