Report : Asia Pacific Managed Network Services Market Forecast to 2028 – COVID-19 Impact and 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 12.4% CAGR, the Asia Pacific Managed Network Services Market is speculated to be worth US$ 29,178.67 million by 2028, says Business Market Insights
According to the Insight Partners’ research, the Asia Pacific managed network services market was valued at US$ 14,463.91 million in 2022 and is expected to reach US$ 29,178.67 million by 2028, registering an annual growth rate of 12.4% from 2022 to 2028.Rising utilization of managed network services by SMEs and growing interest in SD-WAN and SASE are the critical factors attributed to the market expansion.
The APAC 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 the SMEs in decreasing capital expenditure, it allows them to focus on core competencies better. Reportedly, the 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. The growing adoption of digital transformation by SMEs is expected to provide good growth opportunities for the APAC managed network services market.
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 24.5% market share in 2022, amassing US$ 3,540.54 million. It is projected to garner US$ 6,464.02 million by 2028 to expand at 10.6% CAGR during 2022–2028.
- Based on deployment, the Asia Pacific managed network services market is bifurcated into cloud and on-premise. The on-premise segment held 60.6% market share in 2022, amassing US$ 8,772.21 million. It is projected to garner US$ 17,330.96 million by 2028 to expand at 12.0% CAGR during 2022–2028.
- Based on organization size, the Asia Pacific managed network services market is bifurcated into large enterprises and SMEs. The large enterprises segment held 62.3% market share in 2022, amassing US$ 9,009.08 million. It is projected to garner US$ 17,525.49 million by 2028 to expand at 11.7% CAGR during 2022–2028.
- 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 20.6% market share in 2022, amassing US$ 2,981.73 million. It is projected to garner US$ 6,531.66 million by 2028 to expand at 14.0% CAGR during 2022–2028.
- Based on country, the Asia Pacific managed network services market has been categorized into Australia, China, India, Japan, South Korea, and rest of Asia Pacific. Our regional analysis states that China captured 27.9% market share in 2022. It was assessed at US$ 4,029.64 million in 2022 and is likely to hit US$ 8,549.35 million by 2028, exhibiting a CAGR of 13.4% during the forecast period.
Key players dominating the Asia Pacific managed network services market are Accenture PLC; CISCO Systems, Inc; Cognizant Technology Solution Corporation; Fujitsu Limited; Huawei Technologies Co., Ltd; Kyndryl Inc; NTT Limited; Tata Consultancy Services Limited; Varizon Communication Inc; and HCl Technologies, Ltd among others.
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