At 10.9% CAGR, the North America Managed Network Services Market is projected to be worth US$ 49,757.18 million by 2030, says The Business Market Insights

According to the Business Market Insights’ research, the North America managed network services market was valued at US$ 24,165.68 million in 2023 and is expected to reach US$ 49,757.18 million by 2030, registering a CAGR of 10.9% from 2023 to 2030. Rising digital transformation and growing demand for reducing administration and maintenance expenditure are the critical factors attributed to the North America managed network services market expansion.                     

Digital transformation uses technologies to create new or modify existing business processes and customer experiences to meet the ever-changing business environment. Digital transformation has common goals, such as improving efficiency, adding value, and promoting innovation. As companies are increasingly adopting digital transformation to deliver better customer experiences and compete more effectively, there is a growing need for services that support such modernization of information technology (IT) within different enterprises. Additionally, while companies seek to adopt digital transformation, the availability of skilled personnel and the cost of retaining them become hindrances for most enterprises. Managed network service providers, often termed managed service providers (MSPs), strongly aid in overcoming such hindrances. Enterprises can easily avail of their digital transformation service without the requirement of managing or maintaining an IT department within their enterprise. The rising digital transformation is also boosting certain other factors, such as migration to the cloud and rapid growth in data generation are fueling the growth of the North America managed network services market.  

On the contrary, data privacy and security concerns hurdles the growth of North America managed network services market.  

Based on type, the North America 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 25.8% share of North America managed network services market in 2023, amassing US$ 6,225.58 million. It is projected to garner US$ 11,600.52 million by 2030 to expand at 9.3% CAGR during 2023–2030.

Based on deployment, the North America managed network services market is segmented into cloud and on-premise. The on-premise segment held 59.4% share of North America managed network services market in 2023, amassing US$ 14,346.34 million. It is projected to garner US$ 28,206.85 million by 2030 to expand at 10.1% CAGR during 2023–2030.  

Based on organization size, the North America 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 20.5% share of North America managed network services market in 2023, amassing US$ 2,932.52 million. It is projected to garner US$ 6,400.72 million by 2030 to expand at 11.8% 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 21.2% share of North America managed network services market in 2023, amassing US$ 2,091.82 million. It is projected to garner US$ 5,070.14 million by 2030 to expand at 13.5% CAGR during 2023–2030.

Based on end-use vertical, the North America managed network services market is segmented into BFSI, government, IT & telecommunication, manufacturing, media & entertainment, retail & e-commerce, and others. The IT & telecommunication segment held 20.8% share of North America managed network services market in 2023, amassing US$ 5,024.34 million. It is projected to garner US$ 11,470.86 million by 2030 to expand at 12.5% CAGR during 2023–2030. 

Based on country, the North America managed network services market has been categorized into the US, Canada, and Mexico.  Our regional analysis states that the US captured 85.6% share of North America managed network services market in 2023. It was assessed at US$ 20,674.45 million in 2023 and is likely to hit US$ 43,005.54 million by 2030, exhibiting a CAGR of 11.0% during the forecast period.      

Key players operating in the North America managed network services market are Accenture Plc; Cisco Systems Inc; Cognizant Technology Solutions Corp; Fujitsu Ltd; HCL Technologies Ltd; Huawei Investment & Holding Co Ltd; Kyndryl Holdings Inc; NTT Ltd; Tata Consultancy Services Ltd; and Verizon Communications Inc 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 Feb 2023, NTT Ltd., a leading global IT infrastructure and services company, announced the addition of Palo Alto Networks Prisma SASE to its Managed Campus Networks portfolio. The new offering is a comprehensive managed Secure Access Service Edge (SASE) solution that includes SD-WAN, cloud-delivered security, and enhanced automation and reporting. The end-to-end solution is designed to help enterprises meet current digital transformation challenges and enable more flexible ways of working.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com