According to a new report, published by KBV research, The Global Cloud Managed Network Market size is expected to reach $39.9 billion by 2028, rising at a market growth of 10.4% CAGR during the forecast period.
The Services segment is showcasing a CAGR of 11.3% during (2022 - 2028). Cloud managed network services are the outsourcing of day-to-day IT management for cloud-based services as well as technical support to a third party, which automates and enhances company processes. As businesses attempt to lower operational and infrastructure costs connected with business operations, this market segment is anticipated to expand.
The IT & ITeS segment acquired maximum revenue share in the Global Cloud Managed Network Market by Vertical in 2021 thereby, achieving a market value of $9.6 billion by 2028. Constant emphasis is placed by IT companies on enhancing customer experiences. These companies are spending extensively on product innovation to promote digital transformation & innovation. Providers of cloud managed networks help these businesses achieve digital transformation by enhancing customer service and managing IT infrastructure, expenses, and network outages.
The SMEs segment has shown the growth rate of 12.1% during (2022 - 2028). The recent upsurge in small & medium-sized businesses also boosts the demand for managed solutions for satisfying network requirements and security compliance. In addition, SMBs confront obstacles such as a shortage of qualified IT employees, unplanned downtime, and cybersecurity threats. Providers of cloud managed networks can assist SMEs in overcoming these obstacles and controlling their IT expenditures.
The Public Cloud segment is leading the Global Cloud Managed Network Market by Deployment Mode in 2021 thereby, achieving a market value of $25 billion by 2028. This is due to the increasing number of startups all over the world. The market is expanding in this segment as public cloud services are specifically designed for SMEs.
The North America market dominated the Global Cloud Managed Network Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $13.7 billion by 2028. The Europe market is exhibiting a CAGR of 9.7% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 11.3% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/cloud-managed-network-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 Geography
Companies Profiled
Unique Offerings 
