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Steered by Rapid Digital Transformation, Global Managed Network Services Market Set to Expand by 2.2X Through 2031NEW YORK, Oct. 28, 2021 /PRNewswire/ -- According to Fact.MR, the managed network services market is estimated to reach a valuation of US$ 60.4 Bn in 2021.  The overall demand is projected to rise at 8% CAGR between 2021 and 2031, surpassing a valuation of around US$ 130 Bn by the end of 2031. Growth of the market is attributed to the rising adoption of managed network services by various industries such as banking & securities and others in order to cut down the deployment costs and downtime. Managed network services (MNS) are networking applications, functions, and services that enterprises outsource to be remotely operated, monitored and maintained by a managed service provider (MSP). These services range from basic network access and transport services such as traditional leased WAN and LAN lines to newer software-defined WAN (SD-WAN) connections and virtual network services. Managed network services also offer various advantages to enterprises with their flexible and cost-effective nature. Business enterprises often contract with MSPs because their internal resources are insufficient to handle certain processes and business functions. Employing MNS allows companies to run business effectively and to cope with changing market trends. MSPs can handle enterprise networking issues that include integration, troubleshooting, technical support and policy setting. This also help companies to employ new technologies at low costs with minimum complexity. Request a report sample to gain compressive insights at https://www.factmr.com/connectus/sample?flag=S&rep_id=1586 As per the report, managed network services for security purposes will dominate the global market with a healthy share. Adoption of remote work culture and high technology penetration has left business vulnerable to cyber-attacks and phishing. As a result, the demand for managed network services for security has been increasing rapidly and the trend is likely to continue in the future. Regionally, China is projected to emerge as the most lucrative market for managed network services, accounting for around half market revenue through 2031. Growth in the region is attributed to the increasing penetration of internet, presence of key players, and rising adoption of digitalization across end-use industries. "Rising penetration of 5G internet and increasing trend of remote working are projected to boost the managed network services market growth during the forecast period. Moreover, countries such as China and the U.S. will continue to remain the hub of managed network services," says the Fact.MR analyst. Key Takeaways from Managed Network Services Market Survey
Key Drivers
Key Restraints
To larn more about Managed Network Services Market, you can get in touch with our Analyst at https://www.factmr.com/connectus/sample?flag=AE&rep_id=1586 Competitive Landscape Key companies operating in the managed network services market are aiming at product innovation by means of integrating latest technologies in managed network service platforms. They are adopting various strategies such as establishing contracts, agreements and partnerships with business enterprises. For instance,
Some of the prominent players operating in the managed network services market profiled by Fact.MR are:
More Insights on the Global Managed Network Services Sales Outlook Fact.MR provides an unbiased analysis of managed network services market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for managed network services with a detailed segmentation on the basis of: Service Type
Enterprise Type
End Use Vertical
Key Questions Covered in the Managed Network Services Market Outlook Report
Explore Fact.MR's Coverage on the Technology Domain – SD WAN Managed Services Market- SD-WAN Managed Services demand is expected to expand at a moderate to high CAGR in the coming years. This rise is expected because many sectors and software companies are exhibiting interest in SD-WAN Managed Services in the current environment (MS). Because traditional WAN architecture has latency and stability issues when connecting to data centers and cloud-based applications, SD-WAN has gained traction in a variety of industries. SD-WAN MS, on the other hand, not only solves these issues but also adds features like security, underlay and overlay connectivity, and more, boosting demand for SD-WAN. LPWAN Market- LPWAN (Low Power Wide Area Network) is a term that is used to describe a network that is meant to interact wirelessly with less power than other networks, such as satellite, cellular, or WiFi. In recent years, LPWAN wireless technology has gained prominence as a prominent wireless connectivity solution for the Internet of Things (IoT). Because of its superior performance features, LPWAN is a better choice than traditional wireless technologies. The expanding use of LPWAN in machines is due to its fundamentally different ways of working than previous connectivity options. Network Access Control Market- Companies in the network access control market are likely to see new opportunities as information security criteria continue to evolve. With the rapid advancement of technology, growth in new security solutions for data protection against malicious attacks is on the horizon, and it will most likely manifest itself in a variety of ways. Network access control (NAC) has gone a long way, and a number of industry leaders have developed solutions to help it continue to evolve throughout the years. With an ever-increasing number of major and small and medium-sized businesses, North America will continue to be the most attractive market for network access control. About Fact.MR Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, technology to even the most niche categories. 80% of Fortune 1000's trust us in critical decision making. MarketNgage is powered by Fact.MR – our Unified Intelligence Engine, a revolutionary Market Research Subscription platform with a flexible pricing to suit your needs. You can access all our technology research reports by signing up with MarketNgage's Market Research Subscription with FREE credits. MarketNgage is powered by Fact.MR – A Fully integrated research solution for seamless single-window access Widest coverage on emerging markets, nascent products, and disruptive technologies. Contact: Mahendra Singh
SOURCE Fact.MR 
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