Analyzing the Managed Network Services Market Size and Trends
Introduction to Managed Network Services
Managed Network Services (MNS) refer to the outsourcing of a company’s IT network management and support functions to a third-party service provider. This enables businesses to focus on their core functions while delegating network management tasks such as maintenance, monitoring, and security to experts. MNS providers can deliver these services either remotely or on-premise, depending on the client’s needs and requirements.
Market Size and Growth of Managed Network Services
The global market size of Managed Network Services is projected to grow from USD 52.7 billion in 2020 to USD 71.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 6.3%. The growth can be attributed to the increasing demand for managed network services from Small and Medium Enterprises (SMEs). SMEs are looking for cost-effective solutions to enhance their IT infrastructure and support their growth. Additionally, the rise of cloud computing, IoT, and digital transformation has also contributed to the growth of MNS.
Types of Managed Network Services Offered
Managed Network Services can be broadly classified into four categories: Network Infrastructure Management, Network Security Management, Network Monitoring and Management, and Mobility and Wireless Management. Network infrastructure management includes tasks such as installation, configuration, and maintenance of network components such as routers, switches, and firewalls. Network security management involves securing the network against cyber threats and protecting sensitive data. Network monitoring and management include monitoring network performance, troubleshooting issues, and ensuring network uptime. Mobility and wireless management refer to the management of mobile devices, wireless networks, and Bring Your Own Device (BYOD) policies.
Key Players in the Managed Network Services Market
Some of the key players in the MNS market include IBM Corporation, Cisco Systems, Inc., Ericsson AB, Huawei Technologies Co., Ltd., DXC Technology Company, NEC Corporation, Nokia Corporation, Dimension Data Holdings PLC, HCL Technologies Limited, and Accenture PLC. These companies offer a wide range of managed network services and have a strong global presence. They invest heavily in research and development to offer innovative solutions to their clients.
Future Outlook and Trends in Managed Network Services
As organizations continue to embrace digital transformation, the demand for managed network services is expected to grow. Additionally, the rise of 5G technology is expected to create new opportunities for MNS providers. 5G offers higher bandwidth, lower latency, and improved network availability, making it ideal for applications such as IoT, Virtual Reality (VR), and Augmented Reality (AR). MNS providers are expected to leverage 5G to offer new and innovative solutions to their clients. Other trends that are expected to shape the MNS market include the adoption of Artificial Intelligence (AI), Machine Learning (ML), and Automation. These technologies can help MNS providers to enhance their service delivery and improve customer experience.