The North America Cloud Managed Network Market would witness market growth of 9.1% CAGR during the forecast period (2022-2028).
It is projected that demand for cloud managed network will be driven by enterprises' growing need to reduce operational and infrastructure costs associated with business processes. Organizations can concentrate on their core capabilities by outsourcing cloud services to third parties, which increases overall productivity. Demand for managed analytics and cloud storage services increased as the amount of data increased. Also, the requirement for stability and scalability drives up the demand for these services, allowing businesses to expand by offering tailored versions of the current services.
As more businesses use Software-as-a-Service (SaaS) programs and other cloud-based services, such as American Red Cross, Netflix, and Rovio, the need for cloud-based managed security services is expected to rise. Furthermore, the trend of BYOD in many enterprises and the rising use of mobile devices are also projected to fuel demand for the market, which manages these devices for usage and security requirements. In addition, adopting personal devices by a large proportion of the workforce may further fuel the expansion of the cloud managed network market.
North America's solid financial standing enables it to spend substantially on innovative solutions and technology, giving regional businesses a competitive edge in the marketplace. In addition, the region is home to several important cloud managed services providers, including CenturyLink Inc., IBM Corporation, and Cisco Systems Inc., among others. The increased implementation of big data solutions by major IT companies, such as Google and Microsoft, to improve efficiency and optimize their business processes is pushing the regional adoption of cloud managed networks. As a result of all these factors, the market for cloud managed networks would witness growth in the region.
The US market dominated the North America Cloud Managed Network Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $9,906.6 million by 2028. The Canada market is poised to grow at a CAGR of 11.6% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 10.6% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Vertical, the market is segmented into IT & ITeS, BFSI, Manufacturing, Retail & Ecommerce, Media & Entertainment, Healthcare & Life Sciences, Transportation & Logistics, Energy & Utilities, and Others. Based on Organization size, the market is segmented into Large Enterprises and SMEs. Based on Deployment Mode, the market is segmented into Public Cloud and Private Cloud. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Cloud Managed Network Market is Projected to reach USD 39.9 Billion by 2028, at a CAGR of 10.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cisco Systems, Inc., IBM Corporation, Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), NTT Data Corporation, Hewlett Packard Enterprise Company (HP Development Company L.P.), Juniper Networks, Inc., Accenture PLC, Fujitsu Limited, NEC Corporation and Extreme Networks, Inc.
By Component
By Vertical
By Organization size
By Deployment Mode
By Country
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