The Asia Pacific Managed Network Services Market would witness market growth of 8.9% CAGR during the forecast period (2021-2027).
Managed network services are IT services offered by outsourced organizations to manage the infrastructure, technical support, and software that are needed to operate a company’s network. Additionally, these services comprise everything from installing and managing software like applications, operating systems & firewalls, and offering security for network infrastructure & the data which exists in it to managing and providing hardware like routers, switches, and servers. Moreover, several companies shifting to managed network services to enhance performance, minimize costs, and accelerate productivity.
Managed service providers monitor, operate, and manage the company’s network services at their premises and data centers, where they can also perform virtual network functions. In addition, MSPs may differ in size from small niche service vendors to large conventional national and global telecommunications vendors. Moreover, MSPs provide managed network services with service-level agreements (SLAs) for users that come under contractual arrangements. These services enhance the performance & quality metrics of their customer’s business. Additionally, several business customers think that outsourcing their network and service management to MSP is both risky as well as beneficial. Thus, to reduce the chances of risks, customers specify their needs and expectations in service-level agreements (SLAs) to their managed service providers. Moreover, after outsourcing the network and service management, businesses continuously monitor the performance of their MSP and ensure that they are operating according to the signed agreement.
The managed network services market is witnessing a significant growth in Asia-Pacific region. The major factors boosting the growth of the market are growing deployment of managed network services, technological proliferations, and rising technological advancements in cloud-based technologies. In addition, there is surge in demand for outsourcing management functions from cloud & managed services providers, which is anticipated to propel the growth of the regional market.
Moreover, managed network services assist in minimizing operation cost, enhancing operational efficiency, and e helping the companies to focus on their core business. Further, rise in technological advancements like cloud computing, mobility services, and big data analytics would offer new opportunities for the regional market. However, factors such as increasing integration and regularity issues, concerns related to breaching of confidential information and data are accountable to hamper the growth of the regional managed network services market in the coming years.
The China market dominated the Asia Pacific Healthcare Managed Network Services Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $1014.9 million by 2027. The Japan market is showcasing a CAGR of 9.5% during (2021 - 2027). Additionally, The India market is anticipated to grow at a CAGR of 10.8% during (2021 - 2027).
Based on Type, the market is segmented into Managed VPN, Managed WAN, Managed LAN, Managed Network Security, Managed WiFi and Others. Based on Deployment Mode, the market is segmented into On-premise and Cloud. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into BFSI, Retail & eCommerce, Media & Entertainment, Healthcare, Government, Telecom & IT and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Managed Network Services Market is Projected to reach USD 87.7 Billion by 2027, at a CAGR of 7.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include BT Group plc, Telefónica, S.A., T-Systems International GmbH, IBM Corporation, DXC Technology Company, Verizon Communications, Inc., NTT Data Corporation, Cisco Systems, Inc., Huawei Technologies Co., Ltd., and Ericsson AB.
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