A recently published report by Fact.MR predicts that demand for managed network services will accelerate impressively, registering a CAGR of 8% to reach US$ 130 Bn by the end of the forecast period 2021-2031. Need to establish a robust online security apparatus to streamline workflows and prevent data breaches is spurring sales.
Historical estimates suggest that the industry has been flourishing impressively, with a documented CAGR of a staggering 10% from 2016 to 2020. Prospects have further heightened since the COVID-19 pandemic. With nearly every organization switching over to remote working, the need for advanced data protection solutions during the pandemic has majorly inclined.
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Key Takeaways from the Market Study
- Managed network security services to be most demanded, growing at 8% CAGR
- Managed VPN services expected to be valued at nearly US$ 50 Bn by 2031
- MNS for healthcare providers to be fastest growing, registering a 7.5% CAGR
- High telehealth dependence to widen MNS deployment in the U.S, capturing 31% revenue
- China to emerge as the largest MNS market, accounting for half of global sales
- Global managed network services market to surpass US$ 60 Bn by 2021
“Growing workflow complexities arising as a result of diversifying operations is heightening security concerns, prompting them to avail managed network security services, heightening expansion prospects,” says a Fact.MR analyst.
Key Segments Covered
- Service Type
- Managed Voice Network Services
- Managed VPN Services
- Managed Network Security Services
- Managed Network Conferencing Services
- Managed WAN/SD WAN Services
- Enterprise Type
- MNS for Small Enterprises
- MNS for Medium Enterprises
- MNS for Large Enterprises
- End Use Vertical
- MNS for Banking & Securities
- MNS for Insurance
- Health Insurance (Payer)
- Insurance (Other than Health)
- MNS for Communication, Media & Services
- Entertainment
- Publishing and Advertising
- Broadcasting and Cable
- Telecommunications
- Other Business, Technical and Consumer Services
- IT Services & Software
- MNS for Healthcare Providers
- Physician
- Hospitals
- MNS for Manufacturing & Natural Resources
- Automotive
- Consumer Nondurable Products
- Energy Resources & Processing
- Heavy Industry
- IT Hardware
- Life Sciences and Healthcare Products
- Natural Resources & Materials
- MNS for Retail
- General Retailers
- Grocery
- Restaurants and Hotels
- Specialty Retailers
- MNS for Wholesale Trade
- MNS for Transportation
- MNS for Transport
- Motor Freight
- Pipelines
- Rail & Water
- Warehousing, Couriers and Support Services
- MNS for Utilities
- MNS for Education
- MNS for Government
Competitive Landscape
Key managed network services providers are leveraging strategies such as partnerships with government authorities or regional service providers, introduction of new management services and acquiring existing small and medium-scale service providers.
- In April 2021, South Korea, Asia’s fourth-largest economy, and Cisco announced the launch of a collaborative framework under Cisco’s Country Digital Acceleration (CDA) program in April 2021 to accelerate digitization across the country and power an inclusive recovery from the COVID-19 pandemic.
- In October 2021, AT&T Inc. announced that the U.S Air Force has selected the company’s FirstNet® high-speed broadband communications platform to deliver reliable and on-priority communications to its public safety personnel and first responders across 15 bases