Report : Asia Pacific Managed Network Services Market Forecast to 2030 - Regional Analysis - by Type (Managed LAN, Managed Network Security, Managed Monitoring, Managed VPN, Managed WAN and Managed Wi-Fi), Deployment (Cloud and On-Premise), Organization Size (Large Enterprises and SMEs), and End-Use Vertical (BFSI, Government, IT & Telecommunication, Manufacturing, Media & Entertainment, Retail & e-Commerce, and Others)
At 13.0% CAGR, the Asia Pacific Managed Network Services Market is speculated to be worth US$ 38,203.17 million by 2030, says The Business Market Insights
According to the Business Market Insights’ research, the Asia Pacific managed network services market was valued at US$ 16,231.16 million in 2023 and is expected to reach US$ 38,203.17 million by 2030, registering a CAGR of 13.0% from 2023 to 2030. Rising digital transformation and growing demand for reducing administration and maintenance expenditure are the critical factors attributed to the Asia Pacific managed network services market expansion.
The managed network services market revenue was predominantly generated through large enterprises. However, that scenario is changing fast. Owing to the various advantages on offer, SMEs are increasingly relying on managed network service providers. While it aids SMEs in decreasing capital expenditure, it allows them to focus on core competencies better. Reportedly, IT spending by SMEs has been increasing year-on-year. With smaller businesses moving towards the cloud, managing the move often becomes tedious for such companies. This provides growth opportunities for managed network service providers. Additionally, SMEs are more vulnerable to security breaches, and adopting digital transformation can increase security breaches. With the disruptions due to the COVID-19 pandemic, the increasing trend of work from anywhere (WFA) has been pushing the limits for SMEs. They are required to update their IT infrastructure to accommodate WFA trends. Maintaining competitiveness became the utmost priority; hence, to adapt to the changing circumstances, the adoption rate of managed network services witnessed strong growth rates. Yet, relatively few SMEs have availed of such services, and most are yet to consider the same.
On the contrary, data privacy and security concerns hurdles the growth of Asia Pacific managed network services market.
Based on type, the Asia Pacific managed network services market is segmented into managed LAN, managed network security, managed monitoring, managed VPN, managed WAN, and managed Wi-Fi. The managed LAN segment held 24.1% share of Asia Pacific managed network services market in 2023, amassing US$ 3,910.31 million. It is projected to garner US$ 8,166.58 million by 2030 to expand at 11.1% CAGR during 2023–2030.
Based on deployment, the Asia Pacific managed network services market is segmented into cloud and on-premise. The on-premise segment held 60.4% share of Asia Pacific managed network services market in 2023, amassing US$ 9,810.30 million. It is projected to garner US$ 22,530.29 million by 2030 to expand at 12.6% CAGR during 2023–2030.
Based on organization size, the Asia Pacific managed network services market is segmented into large enterprises and SMEs. The large enterprises segment is sub-segmented into BFSI, government, IT & telecommunication, manufacturing, media & entertainment, retail & e-commerce, and others. The IT & telecommunication segment held 22.1% share of Asia Pacific managed network services market in 2023, amassing US$ 2,219.87 million. It is projected to garner US$ 5,594.08 million by 2030 to expand at 14.1% CAGR during 2023–2030.
The SMEs segment is sub-segmented into BFSI, government, IT & telecommunication, manufacturing, media & entertainment, retail & e-commerce, and others. The IT & telecommunication segment held 19.0% share of Asia Pacific managed network services market in 2023, amassing US$ 1,174.20 million. It is projected to garner US$ 3,182.07 million by 2030 to expand at 15.3% CAGR during 2023–2030.
Based on end-use vertical, the Asia Pacific managed network services market is segmented into BFSI, government, IT & telecommunication, manufacturing, media & entertainment, retail & e-commerce, and others. The IT & telecommunication segment held 20.9% share of Asia Pacific managed network services market in 2023, amassing US$ 3,394.07 million. It is projected to garner US$ 8,776.14 million by 2030 to expand at 14.5% CAGR during 2023–2030.
Based on country, the Asia Pacific managed network services market has been categorized into Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 28.1% share of Asia Pacific managed network services market in 2023. It was assessed at US$ 4,560.96 million in 2023 and is likely to hit US$ 11,376.90 million by 2030, exhibiting a CAGR of 13.9% during the forecast period.
Key players operating in the Asia Pacific managed network services market are Accenture Plc; Cisco Systems Inc; Cognizant Technology Solutions Corp; Fujitsu Ltd; Huawei Investment & Holding Co Ltd; Kyndryl Holdings Inc; NTT Ltd; Tata Consultancy Services Ltd; Verizon Communications Inc; and HCL Technologies Ltd among others.
- In May 2023, Cloudflare announced its partnership with Kyndryl, to help enterprises modernize and scale their corporate networks with managed WAN-as-a-Service and Cloudflare Zero Trust. The partnership couples Kyndryl’s expert, managed end-to-end networking services with Cloudflare’s robust technology platform to enable enterprises to streamline connectivity to multiple clouds at scale.
- In April 2021, Cognizant had announced a multi-year partnership to be the Official Digital Transformation Partner of the elite global racing championship SailGP.
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