Global Cloud Managed Network Market Size To Exceed USD 97.14 Billion by 2033 | CAGR of 13.48%
Category: Information & TechnologyGlobal Cloud Managed Network Market Size To Exceed USD 97.14 Billion by 2033 | CAGR of 13.48%
According to a research report published by Spherical Insights & Consulting, The Global Cloud Managed Network Market Size is Expected to Grow from USD 27.43 Billion in 2023 to USD 97.14 Billion by 2033, at a CAGR of 13.48% during the forecast period 2023-2033.
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Browse key industry insights spread across 230 pages with 110 Market data tables and figures & charts from the report on the "Global Cloud Managed Network Market Size, Share, and COVID-19 Impact Analysis, By Cloud Deployment (Public and Private), By Enterprise Size (Large Enterprises and SMEs), By End User (Telecom & ITES, Government, BFSI, Retail & Consumer, Healthcare, Manufacturing & Automotive and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/cloud-managed-network-market
The cloud managed network market represents the industry dealing with the delivery of network management solutions through the cloud, monitoring, and maintaining them. The solutions enable organizations to remotely manage their IT infrastructure, like LAN, WAN, Wi-Fi, and security elements through centralized cloud-hosted platforms. Moreover, companies of all sizes are migrating to the cloud to enjoy scalability, cost-effectiveness, and agility. This transition fuels the need for cloud-managed networks, which provide centralized control, simplified operation, and ease of integration with cloud-based applications, facilitating faster deployment and better performance of enterprise-wide IT infrastructure. Cloud-managed networks enable distributed teams by providing secure remote access, real-time monitoring, and centralized policy enforcement, critical capabilities for ensuring productivity and cybersecurity in decentralized workforce models. However, the demand for cloud-managed networks has increased faster than the supply of experts in deployment, monitoring, and security. Numerous organizations are unable to locate or finance competent specialists in cloud architecture, cybersecurity, and network automation, which derail effective implementation and continuous optimization of these sophisticated systems.
The public segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on the cloud deployment, the cloud managed network market is divided into public and private. Among these, the public segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The growth is driven by public cloud providers operating across many regions, enabling organizations to deploy managed network services near end users for improved performance and availability for global locations. Public cloud providers take care of infrastructure security, updates, and maintenance, taking pressure from internal IT teams yet maintaining enterprise-grade security requirements.
The large enterprises segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the enterprise size, the cloud managed network market is divided into large enterprises and SMES. Among these, the large enterprises segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The segmental growth is due to large businesses usually require sophisticated features like AI-powered network analytics, bandwidth optimization, and automated resolution. Cloud-managed platforms offer these resources, enabling IT teams to achieve better performance at lower manual workloads.
The telecom & ITES segment accounted for the biggest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the end user, the cloud managed network market is divided into telecom & ITES, government, BFSI, retail & consumer, healthcare, manufacturing & automotive, and others. Among these, the telecom & ITES segment accounted for the biggest share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The growth is attributed to telecom and ITES companies handling enormous amounts of data and needing extremely scalable, always-on network infrastructure to support services like VoIP, cloud computing, data centers, and customer support platforms. Cloud-managed networks ensure centralized control and flexibility to address these needs.
North America is expected to hold the majority share of the global cloud managed network market during the forecast period.
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North America is expected to hold the majority share of the global cloud managed network market during the forecast period. North America has a developed digital ecosystem and extensive use of cloud across industries, particularly in the U.S., facilitating the adoption of cloud-managed network solutions across various industries. Large and mid-sized enterprises in industries such as finance, healthcare, and retail depend heavily on the cloud for remote work, data analysis, and IoT installations. Such dependency drives the demand for cloud-managed networks offering centralized management and scalability.
Asia Pacific is anticipated to grow at the fastest pace in the global cloud managed network market during the forecast period. APAC nations such as India, China, and Southeast Asian nations are quickly turning digital, contributing to huge demand for cost-effective and agile network management solutions. National digitalization initiatives such as India's "Digital India," Singapore's Smart Nation, and China's AI initiatives are pushing cloud and networking innovations. Upgrades in government-supported infrastructure fuel rapid uptake of managed network services.
Major vendors in the global cloud managed network market are Accenture, Tata Communications Limited, IBM, Microsoft, Rackspace Technology, Infosys Limited, NTT DATA Group Corporation, Spark NZ, Cisco Systems, Inc., Locuz, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
In September 2024, Airtel Business and Cisco launched the Airtel Software-Defined (SD) Branch, a cloud-managed network solution designed for businesses. Based on Cisco Meraki, the solution provides centralized management of LAN, WAN, and security in an easy-to-manage network, improving application performance
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the cloud managed network market based on the below-mentioned segments:
Global Cloud Managed Network Market, By Cloud Deployment
- Public
- Private
Global Cloud Managed Network Market, By Enterprise Size
- Large Enterprises
- SMEs
Global Cloud Managed Network Market, By End User
- Telecom & ITES
- Government
- BFSI
- Retail & Consumer
- Healthcare
- Manufacturing & Automotive
- Others
Global Cloud Managed Network Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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