The Worldwide Cloud Managed Network Market is Projected to reach USD 39.9 Billion by 2028, at a CAGR of 10.4%

Cloud Managed Network Market Growth, Trends and Report Highlights

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.

Global Cloud Managed Network Market Segmentation

By Component

• Solution
• Services

By Vertical

• IT & ITeS
• BFSI
• Manufacturing
• Retail & Ecommerce
• Media & Entertainment
• Healthcare & Life Sciences
• Transportation & Logistics
• Energy & Utilities
• Others

By Organization size

• Large Enterprises
• SMEs

By Deployment Mode

• Public Cloud
• Private Cloud

By Geography

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Companies Profiled

• 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
• Extreme Networks, Inc.

Related Reports:

North America Cloud Managed Network Market Size by 2022-2028

• March-2023
• 108 Pages

LAMEA Cloud Managed Network Market Size & Share by 2022-2028

• March-2023
• 122 Pages

Europe Cloud Managed Network Market Size, Forecast to 2028

• March-2023
• 121 Pages

Asia Pacific Cloud Managed Network Market Size & Share, 2028

• March-2023
• 121 Pages