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. The major factors that are expected to drive the growth of the cloud managed network market include the growing need for cloud managed networks and the increasing reliance of organizations on IT assets to enhance their business productivity.
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Solutions segment to hold the highest market share during the forecast period
Companies are rapidly adopting cloud managed network soltutions to streamline their business procedures, along with delivering better and agile services to their customers. Also, benefits, such as cost-saving, increased efficiency and flexibility, and reduced downtime, have increased the demand for cloud managed network solutions and services.
Private Cloud segment to grow at the highest CAGR during the forecast period
Private clouds are created for specific groups or organizations that require customization and control over their data. Enterprises opt for private cloud, as it provides a highly secure and centralized storage infrastructure. The need to enable companies to have a better control of the data and can reduce the risk of data loss and issues connected to the regulatory compliance, will drive the segment growth.
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Unique Features in the Cloud Managed Network Market
Regardless of location, administrators may configure, monitor, and troubleshoot network devices and services from a single interface thanks to cloud managed network solutions’ centralised management interfaces or dashboards.
With the flexibility and scalability these solutions offer, businesses may quickly add or remove network resources, modify bandwidth, and scale infrastructure in response to changing business needs and network demands.
With the help of cloud managed network solutions, network devices can be configured remotely and have their firmware updated, keeping them up to date with the newest security patches, features, and features without the need for human intervention.
With the help of providers’ automated provisioning capabilities, businesses may launch new apps and services more rapidly, improve workflows for network resource deployment, and shorten the time it takes to launch new apps and services.
Cloud managed network solutions enable enterprises to make data-driven choices and optimise network operations by giving them access to sophisticated analytics and reporting tools that provide insights into usage patterns, network performance, security risks, and user behaviour.
Major Highlights of the Cloud Managed Network Market
As more businesses use cloud-managed network solutions to improve scalability, ease network management, and cut operating costs, the market is expected to rise significantly.
Because managing distributed network infrastructure requires centralised control, agility, and cost-effectiveness, there has been a noticeable shift towards cloud-based network management systems.
Scalability and flexibility are provided by cloud managed network solutions, which enable businesses to quickly scale their network infrastructure up or down in response to shifting business requirements without having to make large capital expenditures.
With the use of a centralised dashboard or management console, these solutions enable administrators to remotely monitor and control network devices and services at any time, from any location.
In order to help businesses automate repetitive network administration processes like configuration, provisioning, and troubleshooting and minimise human error, providers place a strong emphasis on automation and orchestration features.
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Top Companies in the Cloud Managed Network Market
Key and innovative vendors in the cloud managed network market include 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).
Cisco specializes in designing and selling a broad range of technologies that power the internet. The company offers products and technologies in the different categories such as infrastructure platforms; applications; security; and other products. In addition to the product offerings, it provides a wide range of service offerings, including technical support and advanced services. It also offers services to businesses of all size, public institutions, governments, and service providers, including large web-scale providers. The company also provides comprehensive advisory services focused on responsive, preventive, and consultative support of technologies for specific networking needs. It also offers support and maintenance services to help the customers inoder to operate their products efficiently. The services offered by the company enables the customers to protect their network investments, manage risks, and minimize downtime for systems running mission-critical applications. Cisco’s customers primarily operate in the following markets: enterprise, commercial, service provider, and public sector. The company conducts its business globally and has geographical presence across the Americas; Europe, Middle East, and Africa (EMEA); and Asia Pacific, Japan, and China (APJC).
IBM is of the leading providers of cloud platform services and cognitive solutions, IBM works across the cloud, IT infrastructure, security, services, and research domains. The company operates in more than 175 countries and caters to various industries across the world. It functions through six main segments: Global Technology Services, Cloud and Cognitive Software, Global Business Services, Systems, Global Financing, and Other. IBM offers infrastructure, hosting, and consulting services in the areas of customer relationship management, business analytics optimization, outsourcing, software, and security. The company is focused on developing solutions and products that are powered by the latest technologies, including AI and ML, analytics, big data, and IoT. It also offers services to help clients transform their businesses. IBM cloud managed network allow organizations to utilize the agility and efficiency of cloud with a secure, scalable infrastructure designed for enterprise-grade workloads.
Ericsson is one of the leading providers of information and communication technology to service providers. It makes its customers successful in a fully connected world by innovating game-changing technology and solutions that are easy to use. It offers solutions for networks, cloud software solutions, and emerging businesses, helping customers improve their efficiency and digital experience and capture new revenue streams. Ericsson had been operated in more than 180 countries, and it had over 57,000 granted patents. Ericsson’s Network Design and Optimization portfolio include services and software enabled by the Ericsson Operations Engine. With big data, AI, and crowdsourced data analytics, the solutions deliver superior performance while limiting costs by monitoring numerous KPIs, building an end-user experience-centric model, and enabling targeted CAPEX investments.
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