The Latin America, Middle East and Africa Cloud Managed Network Market would witness market growth of 16.0% CAGR during the forecast period (2022-2028).
Networking applications or network management software used to be entirely purchased and maintained by a firm internally, along with all related costs, including purchasing new hardware and servers and paying employees. If a business only has one location, they can see how expensive this can be. Still, if they have multiple branches and need to deploy & maintain networking equipment at each one, the resources will be at their absolute maximum. This is where cloud networking is useful.
A company can build and control private, secure online networks utilizing a cloud architecture. Everything the businesses currently use for their network, including connection, management, security, and control, will be available in the cloud. These networks can be set up and managed without investing extra money in hardware and employees to handle them. Cloud networking is effective and infinite in providing solutions that can benefit the organization in various ways.
Companies in South America are shifting their focus from investing in technology to leveraging digital transformation initiatives for business growth. As a result, IT and cloud sourcing see several opportunities in the new environment that this competitive approach is generating. As a result, providers of cloud services are expanding their product & service offerings. In addition, the governments of regional nations are widely supporting companies to adopt advanced solutions. For example, the government of Israel and Brazil are boosting investments in advanced and innovative technologies such as 5G, artificial intelligence, big data, machine learning, and others. This all is predicted to offer growth prospects to the cloud managed network market in the LAMEA region.
The Brazil market dominated the LAMEA Cloud Managed Network Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $971 million by 2028. The Argentina market is experiencing a CAGR of 16.6% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 15.7% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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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