Chicago, March 07, 2023 (GLOBE NEWSWIRE) -- The global Cloud Managed Network Market size is projected to grow from USD 21.6 billion in 2022 to USD 36.3 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 10.9% during the forecast period, according to a new report by MarketsandMarkets™.
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192 - Tables
51 - Figures
218 - Pages
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Scope of the Report:
|Market Size Value in 2022||US$ 21.6 billion|
|Revenue Forecast Size Value in 2027||US$ 36.3 billion|
|Growth Rate||10.9% CAGR|
|Key Market Drivers||Need to streamline network operations|
|Key Market Opportunities||More AI and ML will create more opportunities|
|Market size available for years||2018-2027|
|Base year considered||2021|
|Forecast units||Value (USD Million/USD Billion)|
|Segments covered||Component, Deployment Model, Organization Size Vertical, and Region|
|Regions covered||North America, Europe, Asia Pacific, Middle East and Africa, and Latin America|
|Companies covered||Cisco (US), HPE(US), IBM (US), Ericsson (Sweden), Huawei (Japan), Juniper Networks (US), Fujitsu (Japan), Accenture (Ireland), NTT Data (Japan), NEC(Japan), Extreme Networks (US), CommScope (US), Zyxel Networks (Taiwan), Infoblox (US), D-Link (Taiwan), Veracloud (Malta), Accrets International (Singapore), Mindsight (US), Kalyx (India), Iricent (Ireland), Total Communications (US), Cloudscape Technologies (US), DynTek (US), Inhand Networks (US), Engenius Technologies (US)|
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A cloud managed network is managed from the cloud. It constitutes an innovative network management mode that take advantage of the cloud management platform to manage and monitor network devices and service experience based on emerging technologies such as big data, AI, and cloud computing. The complete lifecycle of the network can be managed on the cloud, encompassing procurement, planning, provisioning, deployment, maintenance, and operation phases.
The growing regulatory policies and compliance standards across regions and integration risks while migrating their existing IT infrastructure to a new one could pose a challenge to the adoption of cloud managed network during the forecast period. The major factor that may restrain the growth of the cloud managed network market is the lack of appropriate infrastructure in developing and underdeveloped economies. Enterprises are concerned about sharing their crucial business information with MSPs; hence, they are partnering with them to bypass regulatory compulsions.
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Organizations across verticals are undergoing high-level business transformation to attain operational excellence. Regardless of their size, organizations are turning to MSPs to manage their IT requirements to deliver services faster and more efficiently. New and disruptive technologies are forcing organizations to redefine their business strategies and emphasize information security. Cloud managed network help enterprises manage the risks associated with IT assets in an efficient, cost-effective fashion aligned with industry best practices. Contracting IT requirements to MSPs enable enterprises to focus on their core competency without increasing their IT footprint.
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