Cloud Managed Network Market Overview
As per MRFR analysis, the Cloud Managed Network Market Size was estimated at 24.08 (USD Billion) in 2022.The Cloud Managed Network Market Industry is expected to grow from 27.48 (USD Billion) in 2023 to 90.2 (USD Billion) by 2032. The Cloud Managed Network Market CAGR (growth rate) is expected to be around 14.12% during the forecast period (2024 - 2032).
Key Cloud Managed Network Market Trends Highlighted
Key Market Drivers: The adoption of cloud computing and the need for uninterrupted network connectivity are the main drivers behind the growth of the market for managed networks on clouds. The demand for stable as well as secure network infrastructure that is controlled from a primary cloud platform increases when many companies switch to cloud-based services and applications. Moreover, there is an increasing distribution of enterprise networks and remote work patterns that make centralized network management and control necessary.
Opportunities to be Explored or Captured: There is great potential for software vendors in this market due to the rise in demand for cloud-based network management systems. Such opportunities can be seized through designing new products and service packages that cater to new business needs, such as increased security levels, better performance monitoring tools and multi-cloud support. Additionally, collaborations between providers of cloud services could enable easy access to more customers hence a faster penetration into the market.
Trends in Recent Times: Recent trends in the cloud managed network market include artificial intelligence (AI) and machine learning (ML) integration with automated network optimization as well as predictive analytics. Trends showing a rise include software-defined networking (SDN) and Network Function Virtualization (NFV), which enhances flexibility and scalability in managing networks. Also, there is an ever-increasing focus on sustainability as well as green solutions for power efficient networking devices, leading to opportunities that exist within this aspect for companies operating within this industry.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Cloud Managed Network Market Drivers
Rising Adoption of Cloud-Based Services
One of the Cloud Managed Network Market Industry drivers is the growing adoption of cloud-based services, including Software-as-a-Service , Infrastructure-as-a-Service , and Platform-as-a-Service. As an increasing number of companies choose to move their applications and data to the cloud, they require reliable and secure network connectivity to ensure their data remains accessible and their applications run smoothly. Cloud managed networks offer a centralized and automated method to manage and optimize all network infrastructure.
Growing Demand for Network Automation
The growing demand for network automation is another key driver of the Cloud Managed Network Market Industry. As networks become increasingly complex and distributed, manual network management tasks become more challenging and time-consuming. Network automation tools and technologies enable organizations to automate various network management functions, such as configuration, monitoring, and troubleshooting, reducing operational costs and improving network efficiency.
Increasing Adoption of IoT and Edge Computing
The increasing adoption of IoT devices and edge computing is also driving the growth of the Cloud Managed Network Market Industry. IoT devices and edge computing require reliable and low-latency network connectivity to function effectively. Cloud managed networks provide the necessary infrastructure and management capabilities to support the connectivity and data processing needs of IoT devices and edge computing applications.
Cloud Managed Network Market Segment Insights
Cloud Managed Network Market Network Type Insights
The Cloud Managed Network Market is segmented by Network Type into Wired Networks and Wireless Networks. Wired Networks held the largest market share in 2023, accounting for over 60% of the market. This dominance is attributed to the widespread adoption of wired networks in enterprise and data center environments, which provide high bandwidth and reliability. Wireless Networks, on the other hand, are expected to witness significant growth over the forecast period, owing to the increasing popularity of mobile devices and the adoption of wireless technologies such as Wi-Fi 6 and 5G.The Cloud Managed Network Market for Wired Networks is expected to reach a value of USD 35.48 billion in 2024, growing at a CAGR of 12.5% from 2023 to 2032. The growth of this segment is driven by the increasing demand for high-speed and reliable network connectivity in enterprise and data center environments. The adoption of cloud-based network management solutions is also contributing to the growth of this segment, as it enables organizations to centrally manage and monitor their wired networks from a single platform. The Cloud Managed Network Market for Wireless Networks is expected to reach a value of USD 21.32 billion in 2024, growing at a CAGR of 16.2% from 2023 to 2032.The growth of this segment is driven by the increasing adoption of mobile devices and the proliferation of wireless technologies such as Wi-Fi 6 and 5G. The growing demand for wireless connectivity in public spaces, such as airports, stadiums, and shopping malls, is also contributing to the growth of this segment.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Cloud Managed Network Market Deployment Model Insights
The Cloud Managed Network Market revenue was valued at USD 14.07 Billion in 2023, and it is expected to reach a value of USD 34.72 Billion by 2032, at a CAGR of 10.8% over the forecast period (2023 - 2032). The market growth is attributed to the increasing adoption of cloud-based solutions, the need for improved network management, and the growing popularity of Software-Defined Networking (SDN) and Network Functions Virtualization (NFV). The deployment model segment of the Cloud Managed Network Market is divided into on-premises and cloud-based.The on-premises deployment model is expected to hold a significant market share over the forecast period due to its ability to provide greater control and customization over the network. However, the cloud-based deployment model is expected to witness a higher growth rate due to its flexibility, scalability, and cost-effectiveness. The key players in the Cloud Managed Network Market include Cisco Systems, Inc., VMware, Inc., Juniper Networks, Inc., Nokia Corporation, and Huawei Technologies Co., Ltd. These players offer a wide range of cloud managed network solutions, including network management platforms, network security solutions, and network monitoring tools.
Cloud Managed Network Market Managed Services Insights
Managed services are a key component of the cloud managed network market and are expected to grow significantly in the coming years. Managed services account for a significant portion of this market and are expected to continue to grow as businesses increasingly adopt cloud-based solutions. There are a number of different types of managed services that are available, including network monitoring and management, security management, and application performance management. Network monitoring and management services help businesses to ensure that their networks are running smoothly and efficiently.Security management services help businesses to protect their networks from threats such as malware and hacking. Application performance management services help businesses to optimize the performance of their applications. The managed services market is highly competitive, with a number of different vendors offering a variety of services. Some of the leading vendors in the market include Cisco, IBM, and Hewlett-Packard Enterprise. These vendors offer a wide range of services, from basic network monitoring and management to more advanced services such as security management and application performance management.Businesses of all sizes can benefit from managed services. Managed services can help businesses improve the performance of their networks, reduce costs, and improve security. As the cloud managed network market continues to grow, managed services are expected to play an increasingly important role.
Cloud Managed Network Market Industry Vertical Insights
The Cloud Managed Network Market is segmented by Industry Vertical into Healthcare, Manufacturing, Retail, Education, and Financial Services. The Healthcare segment is expected to grow exponentially in the coming years due to the increasing adoption of cloud-based solutions by healthcare providers. By 2023, the Healthcare segment is expected to account for over $10 billion in revenue, driven by the need for improved patient care, operational efficiency, and data security. The Manufacturing segment is also expected to experience significant growth, with a market size of over $8 billion by 2024.This growth is attributed to the increasing use of cloud-based solutions for automation, remote monitoring, and predictive maintenance. The Retail segment is expected to grow steadily, reaching a market size of $7 billion by 2025. The growth in this segment is driven by the increasing use of cloud-based solutions for omnichannel retailing, customer engagement, and supply chain management. The Education segment is expected to have a market size of $6 billion by 2026. The growth in this segment is driven by the increasing adoption of cloud-based solutions for online learning, virtual classrooms, and student collaboration.The Financial Services segment is expected to grow significantly, reaching a market size of over $5 billion by 2027. The growth in this segment is driven by the increasing use of cloud-based solutions for digital banking, mobile payments, and risk management.
Cloud Managed Network Market Regional Insights
The Cloud Managed Network Market is segmented into North America, Europe, APAC, South America, and MEA. The North American region accounted for the largest market share in 2023 and is expected to continue its dominance throughout the forecast period. The growth in this region is attributed to the presence of major cloud service providers, such as AWS, Microsoft Azure, and Google Cloud Platform. Additionally, the increasing adoption of cloud-based services by enterprises in the region is driving the growth of the market. The European region is expected to be the second-largest market during the forecast period.The growth in this region is attributed to the increasing adoption of cloud managed networks by enterprises in the region. The APAC region is expected to be the fastest-growing region during the forecast period. The growth in this region is attributed to the increasing adoption of cloud-based services by enterprises in the region, as well as the growing number of cloud service providers in the region.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Cloud Managed Network Market Key Players And Competitive Insights
Major players in the Cloud Managed Network Market are consistently investing in research and development to introduce innovative solutions and strengthen their market position. Leading Cloud Managed Network Market players are focusing on strategic partnerships, mergers, and acquisitions to expand their presence and gain a competitive edge. The Cloud Managed Network Market industry is witnessing a surge in collaborations between cloud providers and networking vendors to offer comprehensive solutions to enterprises. These partnerships provide customers with a single point of contact for both cloud and network services, simplifying management and enhancing efficiency. The competitive landscape is expected to remain dynamic, with new entrants and established players vying for market share through product innovation and strategic alliances.Cisco, a leading player in the Cloud Managed Network Market, offers a comprehensive portfolio of cloud-managed networking solutions. The company's Meraki platform provides cloud-based management and monitoring of network devices, enabling enterprises to simplify network management and enhance visibility. Cisco's strong brand recognition, extensive partner ecosystem, and focus on innovation have contributed to its leading position in the market. The company continues to invest in research and development to introduce new features and capabilities to its cloud-managed networking solutions.Juniper Networks, a competitor in the Cloud Managed Network Market, provides cloud-managed networking solutions under its Mist platform. Mist offers a cloud-based AI-driven network management system that simplifies network operations, automates troubleshooting, and delivers real-time insights. Juniper Networks has a strong presence in the enterprise networking market and is leveraging its expertise to expand its cloud-managed networking offerings. The company's focus on AI and automation is expected to drive its growth in the competitive Cloud Managed Network Market landscape.
Key Companies in the Cloud Managed Network Market Include
Cloud Managed Network Market Industry Developments
The Cloud Managed Network Market is projected to grow significantly in the coming years, driven by the increasing adoption of cloud-based services and the need for improved network management. In 2023, the market was valued at USD 27.48 billion and is expected to reach USD 90.2 billion by 2032, exhibiting a CAGR of 14.12%.Recent developments in the market include the growing popularity of software-defined networking (SDN) and network function virtualization (NFV), as well as the emergence of new technologies such as artificial intelligence (AI) and machine learning (ML). These technologies are enabling businesses to automate and optimize their network management tasks, resulting in improved efficiency and cost savings.Some of the leading players in the Cloud Managed Network Market include Cisco, VMware, and Microsoft. These companies are investing heavily in research and development to offer innovative solutions that meet the evolving needs of their customers.
Cloud Managed Network Market Segmentation Insights
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Cloud Managed Network Market Network Type Outlook
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Wired Networks
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Wireless Networks
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Cloud Managed Network Market Deployment Model Outlook
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Cloud Managed Network Market Managed Services Outlook
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Cloud Managed Network Market Industry Vertical Outlook
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Healthcare
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Manufacturing
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Retail
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Education
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Financial Services
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Cloud Managed Network Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
24.08 (USD Billion) |
| Market Size 2023 |
27.48 (USD Billion) |
| Market Size 2032 |
90.2 (USD Billion) |
| Compound Annual Growth Rate (CAGR) |
14.12% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Versa Networks, Nokia Networks, VMware, Riverbed Technology, HPE (Hewlett Packard Enterprise), Fortinet, Cisco System, Check Point Software Technologies, Cato Networks, Extreme Networks, Palo Alto Networks, Cloudflare, Juniper Networks, Huawei Technologies, Zscaler |
| Segments Covered |
Network Type, Deployment Model, Managed Services, Industry Vertical, Regional |
| Key Market Opportunities |
Growing demand for SDWAN servicesAdoption of cloud-based network management solutionsIncreasing penetration of cloud-based applicationsMigration to 5G networksEmergence of IoT and edge computing |
| Key Market Dynamics |
Increasing demand for agility and flexibility Enterprises seek solutions to adapt to changing network needs.Growing adoption of cloud-based technologies Organizations embrace cloud platforms to optimize network infrastructure.Need for improved visibility and control Enterprises require centralized management tools for enhanced network monitoring and administration. |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Cloud Managed Network Market is expected to reach a valuation of 27.48 billion USD in 2023 and is projected to grow at a CAGR of 14.12% to reach 90.2 billion USD by 2032.
North America is the largest regional market for Cloud Managed Networks, followed by Europe and Asia-Pacific. The growth in these regions is attributed to the increasing adoption of cloud-based services and the need for efficient and scalable network management solutions.
Cloud Managed Networks are used in a wide range of applications, including enterprise networking, data center networking, and branch office connectivity. They offer benefits such as improved network visibility, control, and security.
Major players in the Cloud Managed Network Market include Cisco, VMware, Microsoft, Juniper Networks, and Arista Networks. These companies offer a range of cloud-based network management solutions to meet the needs of various organizations.
Key trends in the Cloud Managed Network Market include the adoption of software-defined networking (SDN), the rise of network-as-a-service (NaaS) offerings, and the increasing demand for cloud-native network management solutions.
Challenges in the Cloud Managed Network Market include security concerns, the need for skilled IT professionals, and the complexity of managing hybrid cloud environments.
Opportunities for growth in the Cloud Managed Network Market include the increasing adoption of cloud-based services, the need for improved network efficiency, and the emergence of new technologies such as 5G and IoT.
The Cloud Managed Network Market is expected to grow at a CAGR of 14.12% from 2024 to 2032.
Factors driving the growth of the Cloud Managed Network Market include the increasing adoption of cloud-based services, the need for improved network efficiency, and the emergence of new technologies such as 5G and IoT.
Key challenges faced by the Cloud Managed Network Market include security concerns, the need for skilled IT professionals, and the complexity of managing hybrid cloud environments.
