Cloud Managed Network Market to Reach $36.3 Billion by 2027

(IT-NEWSWIRE.COM, October 14, 2024 ) 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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Emerging Trends in Cloud Managed Network Market:

AI-Driven Network Management: Artificial intelligence (AI) and machine learning (ML) are playing a pivotal role in cloud-managed networks, enabling predictive analytics, automation, and self-healing capabilities. AI helps to optimize network performance, detect and respond to anomalies, and improve overall efficiency.

Increased Adoption of SD-WAN: Software-Defined Wide Area Network (SD-WAN) is becoming a core component of cloud-managed networking solutions. SD-WAN enables flexible, scalable, and secure connections between branch offices and cloud resources, simplifying management and reducing operational costs.

Edge Computing Integration: Edge computing is increasingly being integrated into cloud-managed networks. This allows data processing to occur closer to the source (edge devices), reducing latency, bandwidth usage, and enhancing real-time decision-making, which is critical for IoT and other time-sensitive applications.

Zero Trust Security Models: With the rise of remote work and IoT devices, Zero Trust security is becoming essential in cloud-managed networks. Zero Trust ensures that all users and devices, whether inside or outside the network, are authenticated and continuously monitored, enhancing security and reducing vulnerability to cyberattacks.

5G Integration for Enhanced Connectivity: 5G networks are revolutionizing cloud-managed networks by providing faster speeds, lower latency, and improved reliability. As more businesses adopt 5G, cloud-managed networks will be critical in optimizing connectivity for devices and applications across geographically dispersed locations.

Automation and Self-Optimization: Network automation tools within cloud-managed networks are on the rise, allowing businesses to automate routine tasks, such as configuration, monitoring, and troubleshooting. Self-optimizing networks can dynamically adjust resources based on traffic demand, ensuring seamless performance.

Unified Network Management Solutions: Businesses are seeking unified network management platforms that consolidate various network functions—such as monitoring, troubleshooting, security, and compliance—into a single interface. This trend simplifies network operations and reduces administrative overhead.

Multi-Cloud and Hybrid Cloud Strategies: As businesses adopt multi-cloud and hybrid cloud strategies, the need for cloud-managed networks that can efficiently manage and integrate across multiple cloud environments is growing. These networks ensure seamless connectivity and management across public and private clouds.

IoT Expansion and Connectivity: The rapid growth of IoT devices is driving the demand for cloud-managed networks that can handle large-scale, distributed device connectivity. These networks need to be capable of managing device onboarding, data flows, and ensuring network security in real-time.

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A cloud managed network is managed from the cloud. It constitutes an innovative network management mode that take advantage of the cloud management platform to manage and monitor network devices and service experience based on emerging technologies such as big data, AI, and cloud computing. The complete lifecycle of the network can be managed on the cloud, encompassing procurement, planning, provisioning, deployment, maintenance, and operation phases.

The growing regulatory policies and compliance standards across regions and integration risks while migrating their existing IT infrastructure to a new one could pose a challenge to the adoption of cloud managed network during the forecast period. The major factor that may restrain the growth of the cloud managed network market is the lack of appropriate infrastructure in developing and underdeveloped economies. Enterprises are concerned about sharing their crucial business information with MSPs; hence, they are partnering with them to bypass regulatory compulsions.

Unique Features in the Cloud Managed Network Market:

This growth reflects the increasing shift toward cloud solutions as businesses aim for flexibility, scalability, and improved operational efficiency.

Cloud managed networks offer the unique ability to streamline and centralize IT asset management. Organizations can efficiently oversee, monitor, and optimize their network operations from a single platform, reducing the complexity associated with managing on-premise networking infrastructure.

A core feature of cloud managed networks is their contribution to boosting business productivity. By outsourcing network management to the cloud, enterprises can focus on their core operations while enjoying enhanced network performance, reduced downtime, and improved overall efficiency.

One of the standout features of cloud managed networks is their inherent scalability. Businesses can easily scale their network infrastructure to meet growing demands without needing to invest in additional hardware. This flexibility allows organizations to adapt quickly to changes in business needs and technological advancements.

Cloud managed networks are highly cost-efficient, as they eliminate the need for significant upfront investments in hardware and ongoing maintenance. Organizations can reduce their IT overhead by leveraging cloud services, allowing them to allocate resources more effectively while maintaining a reliable and secure network.

Organizations across verticals are undergoing high-level business transformation to attain operational excellence. Regardless of their size, organizations are turning to MSPs to manage their IT requirements to deliver services faster and more efficiently. New and disruptive technologies are forcing organizations to redefine their business strategies and emphasize information security. Cloud managed network help enterprises manage the risks associated with IT assets in an efficient, cost-effective fashion aligned with industry best practices. Contracting IT requirements to MSPs enable enterprises to focus on their core competency without increasing their IT footprint.

List of Key Players in Cloud Managed Network Market:

Key and innovative vendors in 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). These vendors have adopted many organic as well as inorganic growth strategies, such as new product launches, and partnerships and collaborations, to expand their offerings and market shares in the cloud managed network market.

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Cloud Managed Network Market to Reach $36.3 Billion by 2027