The North America Managed Network Services Market would witness market growth of 5.7% CAGR during the forecast period (2021-2027).
Managed network services are often considered as an outsourced network solution, which are monitored, operated, and secured by managed service providers (MSPs) or third-party service providers. Moreover, managed network service refers to a communication network that can accelerate agility, minimize complications, and reduce installing costs. Though, the low adoption rate of outsourced managed services and uncertainty over the service charge are some of the factors that are anticipated to hamper the growth of the market. Likewise, insufficient IT infrastructure in emerging and unevolved nations, privacy & data security concerns, and lack of trained expertise or skilled personnel are other determinants that would slow down the growth of the managed network services market in the forthcoming years.
The managed network services market is anticipated to witness prominent growth in North America. The organizations across this region are benefitted from the use of managed network services as they help in preparing network infrastructure to boost business performance. The network engineers provide careful planning and testing that assist IT companies to work efficiently by managing the company’s networks delicately. Additionally, regional small and medium-sized enterprises in this region are able to boost their process efficiency by utilizing an on-demand model and pay for only for the needed services.
In North America, managed service providers offer fully managed & secured managed network services and infrastructure. These services are charged on the basis of fixed cost and its up-gradation cost is also minimal. Moreover, the best part of deploying these services is that they provide network protection against spam, malware, viruses, and other intrusions. Further, managed service providers are focused on providing a high-level network availability that will help in fueling the productivity of the business. Hence, MSPs are offering these benefits through network services, which is attracting numerous business customers towards it. Therefore, these factors are creating new growth avenues for the regional managed network services.
The managed network services market is witnessing a stiff competition due to the presence of numerous market players in the business ecosystem. The companies are largely depending on third parties to enhance their working efficiency, thereby leading to optimal utilization of resources and decreased expenditure. In addition, companies are taking help from managed service providers instead of facing challenges to remain parallel with emergence of latest technologies. Moreover, these network services enabled companies to make use of global resources that are not available to them. This helps companies in reducing the inconvenience of developing, monitoring, and maintaining their network and allows them to operate their business more efficiently. Thus, managed network services have emerged as the best substitute for in-house network management services that are comparatively higher in prices, consume a lot of time, and hard to manage & install by small and medium enterprises.
The US market dominated the North America Managed Network Services Managed WAN Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $4807.5 million by 2027. The Canada market is experiencing a CAGR of 7.3% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 6.3% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Managed Network Services Market is Estimated to reach $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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