North America 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)
The managed network services market in North America is expected to grow from US$ 21,948.36 million in 2022 to US$ 39,455.85 million by 2028. It is estimated to grow at a CAGR of 10.3% from 2022 to 2028.
Growing Demand for Reducing Administration and Maintenance Expenditure
Several macroeconomic factors across the region have created a severely hostile environment for businesses. The pandemic caused severe disruptions, which led to huge losses for several industry verticals. Political factors have been negatively affecting different industry verticals in different ways. Severe economic downturns in several countries have resulted in decreased consumer spending on discretionary or optional goods. While the definition of such goods varies depending on a family's income, it is undeniable that most industry verticals have endured or are enduring losses due to such a decrease in consumption. With respect to such factors, enterprises are adopting different measures to remain competitive by reducing capital expenditure. Hence, enterprises are preferring economical and flexible expenses while focusing on core business. Availing managed network services can aid organizations in reducing costs while maintaining a competitive edge. Reportedly, 46% of enterprises saved nearly 25% of their IT spending by availing of managed network services. Thus, companies can save on operational costs while increasing productivity. MSPs can increase productivity through the replacement of inefficient IT systems and the reduction of downtime. Additionally, expenditure on network security and cyber threat can also be minimized through such services. Generally, an annual or multi-year contract, known as a service level agreement (SLA), is signed between the MSP and enterprises for managed network services. Depending on the parameters of service being requested, prices vary. Hence, enterprises have a clear knowledge of operations expense budget for IT. Hence, variable expenditures under capital expenses for purchasing new equipment or maintaining old equipment are removed. Enterprises can remain unaffected by price rises or similar unforeseen circumstances with a multi-year deal. With decreasing lifecycle of electronic devices and intensifying competition, companies tend to focus more on core technologies, which directly affect their business, rather than managing in-house infrastructure. Hence, partnering with an MSP for managed network service is a viable option for reducing the operational cost of a company. Furthermore, keeping IT staff on payroll can become cumbersome for most SMEs and large enterprises. Hence, through MSPs, enterprises can access highly qualified IT professionals with proper technology know-how as and when required. Such professionals are generally well-trained in business policies, and hence, they can address any queries that the service availed may be having, maintenance of upgrades as per SLAs, and provide important documentation for performing important installations. Thus, companies can save up to 70% on salary costs and the need for IT personnel while also saving on office space and equipment. Due to such advantages offered by MSPs, enterprises are increasingly adopting managed network services to reduce administration and maintenance expenditure. This, in turn, is boosting the growth of the North America managed network services market.
Market Overview
US, Canada, Mexico are the key contributors to the managed network services market in the North America. Managed network services (MNS) offer potential opportunities to small and medium enterprises (SMEs) to grow and achieve business goals. IT spending among SMEs is predicted to increase because SMEs are expanding their businesses by implementing innovative and enhanced IT services. The rise in IT spending by SMEs is expected to fuel the demand for managed service providers (MSPs), as SMEs are adopting automating services, cloud, and advanced digital technologies. MNS providers offer solutions to help SMEs manage total cost of ownership (TCO), support newer applications in demand, reduce capital expenditures (CAPEX) & operating expenses, sustain their business operations, and connect efficiently with customers and partners. MNS providers offer cost-effective services that secure network functions, which has helped SMEs grow and focus on their core businesses. SMEs rely on MNS providers to connect with several sites and manage their networks. The MNS providers are opening new opportunities for SMEs to remain competitive, expand, and grow their businesses. Moreover, the current business environment has increased the demand for accelerated digital transformation, with SMEs needing more IT assistance than ever. With limited resources, SMEs need safe and reliable solutions and a technology partner for maintaining business continuity and connections with colleagues and customers. Cisco Systems, Inc., a US-based company, provides a series of simple, affordable, and reliable cloud-based IT solutions to help SMEs transform their businesses to operate more effectively in digital workplaces. Cisco is providing Cloud-Managed Network (Cisco Meraki) devices with quick deployment, unlimited scalability, and remote troubleshooting to SMEs. Therefore, the rising utilization of managed network services by SMEs creates opportunities for managed network service market players in North America. North America has many managed network services providers, including Accenture PLC, Verizon, Lumen Technologies, and Dedicated Access. The presence of MNS providers is growing in North America owing to the increasing adoption of managed network services.
North America Managed Network Services Market Revenue and Forecast to 2028 (US$ Million)
North America Managed Network Services Market Segmentation
The North America managed network services market is segmented into type, deployment, organization size, end-use vertical, and country.
- Based on type, the market is segmented into managed lan, managed network security, managed monitoring, managed vpn, managed wan and managed wi-fi. The managed lan segment registered the largest market share in 2022.
- Based on deployment, the market is bifurcated into cloud and on-premise. The on-premise segment held a larger market share in 2022.
- Based on organization size, the market is bifurcated into large enterprises and SMEs. The large enterprises segment held the larger market share in 2022.
- Based on end-use vertical, the market is segmented into BFSI, government, it & telecommunication, manufacturing, media & entertainment, retail & e-commerce, and others. The IT & telecommunication segment registered the largest market share in 2022.
- Based on country, the market is segmented into US, Canada, Mexico. US dominated the market share in 2022.
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 are the leading companies operating in the managed network services market in the North America.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Managed Network Services Market – By Type
1.3.2 North America Managed Network Services Market – By Deployment
1.3.3 North America Managed Network Services Market – By Organization Size
1.3.4 North America Managed Network Services Market – By End-Use Vertical
1.3.5 North America Managed Network Services Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Managed Network Services Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 North America Ecosystem Analysis
4.4 Expert Opinion
5. North America Managed Network Services Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Digital Transformation
5.1.2 Growing Demand for Reducing Administration and Maintenance Expenditure
5.2 Market Restraints
5.2.1 Data Privacy and Security Concerns
5.3 Market Opportunities
5.3.1 Rising Utilization of Managed Network Services by SMEs
5.4 Future Trends
5.4.1 Growing Interest in SD-WAN and SASE
5.5 Impact Analysis of Drivers and Restraints
6. Managed Network Services Market – North America Analysis
6.1 Managed Network Services Market – Revenue and Forecast to 2028 (US$ Million)
7. North America Managed Network Services Market Analysis – By Type
7.1 Overview
7.2 Managed Network Services Market, By Type (2021 and 2028)
7.3 Managed LAN
7.3.1 Overview
7.3.2 Managed LAN: Managed Network Services Market – Revenue, and Forecast to 2028 (US$ Million)
7.4 Managed Network Security
7.4.1 Overview
7.4.2 Managed Network Security: Managed Network Services Market – Revenue, and Forecast to 2028 (US$ Million)
7.5 Managed Monitoring
7.5.1 Overview
7.5.2 Managed Monitoring: Managed Network Services Market – Revenue, and Forecast to 2028 (US$ Million)
7.6 Managed VPN
7.6.1 Overview
7.6.2 Managed VPN: Managed Network Services Market – Revenue, and Forecast to 2028 (US$ Million)
7.7 Managed WAN
7.7.1 Overview
7.7.2 Managed WAN: Managed Network Services Market – Revenue, and Forecast to 2028 (US$ Million)
7.8 Managed Wi-Fi
7.8.1 Overview
7.8.2 Managed Wi-Fi: Managed Network Services Market – Revenue, and Forecast to 2028 (US$ Million)
8. North America Managed Network Services Market Analysis – By Deployment
8.1 Overview
8.2 Managed Network Services Market, By Deployment (2021 and 2028)
8.3 Cloud
8.3.1 Overview
8.3.2 Cloud: Managed Network Services Market- Revenue and Forecast to 2028 (US$ Million)
8.4 On-Premise
8.4.1 Overview
8.4.2 On-Premise: Managed Network Services Market- Revenue and Forecast to 2028 (US$ Million)
9. North America Managed Network Services Market Analysis – By Organization Size
9.1 Overview
9.2 North America Managed Network Services Market, By Organization Size (2021 and 2028)
9.3 Large Enterprises
9.3.1 Overview
9.3.2 Large Enterprises: Managed Network Services Market- Revenue and Forecast to 2028 (US$ Million)
9.4 SMEs
9.4.1 Overview
9.4.2 SMEs: Managed Network Services Market- Revenue and Forecast to 2028 (US$ Million)
10. North America Managed Network Services Market Analysis – By End-Use Vertical
10.1 Overview
10.2 North America Managed Network Services Market Breakdown, By End-Use Vertical, 2021 & 2028
10.3 BFSI
10.3.1 Overview
10.3.2 BFSI Market Revenue and Forecast to 2028 (US$ Million)
10.4 Government
10.4.1 Overview
10.4.2 Government Market Revenue and Forecast to 2028 (US$ Million)
10.5 IT & Telecommunication
10.5.1 Overview
10.5.2 IT & Telecommunication Market Revenue and Forecast to 2028 (US$ Million)
10.6 Manufacturing
10.6.1 Overview
10.6.2 Manufacturing Market Revenue and Forecast to 2028 (US$ Million)
10.7 Media & Entertainment
10.7.1 Overview
10.7.2 Media & Entertainment Market Revenue and Forecast to 2028 (US$ Million)
10.8 Retail & e-Commerce
10.8.1 Overview
10.8.2 Retail & e-Commerce Market Revenue and Forecast to 2028 (US$ Million)
10.9 Others
10.9.1 Overview
10.9.2 Others Market Revenue and Forecast to 2028 (US$ Million)
11. North America Managed Network Services Market – Country Analysis
11.1 North America: Managed Network Services Market
11.1.1 Overview
11.1.2 North America Managed Network Services Market Breakdown, by Country
11.1.2.1 US Managed Network Services Market, Revenue and Forecast to 2028
11.1.2.1.1 US Managed Network Services Market Breakdown, By Type
11.1.2.1.2 US Managed Network Services Market Breakdown, By Deployment
11.1.2.1.3 US Managed Network Services Market Breakdown, By Organization Size
11.1.2.1.4 US Managed Network Services Market Breakdown, By End-Use Vertical
11.1.2.2 Canada Managed Network Services Market, Revenue and Forecast to 2028
11.1.2.2.1 Canada Managed Network Services Market Breakdown, By Type
11.1.2.2.2 Canada Managed Network Services Market Breakdown, By Deployment
11.1.2.2.3 Canada Managed Network Services Market Breakdown, By Organization Size
11.1.2.2.4 Canada Managed Network Services Market Breakdown, By End-Use Vertical
11.1.2.3 Mexico Managed Network Services Market, Revenue and Forecast to 2028
11.1.2.3.1 Mexico Managed Network Services Market Breakdown, By Type
11.1.2.3.2 Mexico Managed Network Services Market Breakdown, By Deployment
11.1.2.3.3 Mexico Managed Network Services Market Breakdown, By Organization Size
11.1.2.3.4 Mexico Managed Network Services Market Breakdown, By End-Use Vertical
12. Industry Landscape
12.1 Overview
12.2 Mergers and Acquisitions
12.3 Agreements, Collaborations and Joint Ventures
12.4 New Product Launches
12.5 Expansions and other Strategic Developments
13. Company Profiles
13.1 Accenture PLC
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Cisco Systems, Inc.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Cognizant Technology Solutions Corporation
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Fujitsu Limited
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Huawei Technologies Co., Ltd.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Kyndryl Inc.
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 NTT Limited
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Tata Consultancy Services Limited
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Verizon Communications Inc.
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 HCL Technologies, Ltd.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. North America Managed Network Services Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. North America Managed Network Services Market, Revenue and Forecast To 2028 – By Country (US$ Million)
Table 3. US Managed Network Services Market, Revenue and Forecast to 2028 – By Type (US$ Million)
Table 4. US Managed Network Services Market, Revenue and Forecast to 2028 – By Deployment (US$ Million)
Table 5. US Managed Network Services Market, Revenue and Forecast to 2028 – By Organization Size (US$ Million)
Table 6. US Managed Network Services Market, Revenue and Forecast to 2028 – By End-Use Vertical (US$ Million)
Table 7. Canada Managed Network Services Market, Revenue and Forecast to 2028 – By Type (US$ Million)
Table 8. Canada Managed Network Services Market, Revenue and Forecast to 2028 – By Deployment (US$ Million)
Table 9. Canada Managed Network Services Market, Revenue and Forecast to 2028 – By Organization Size (US$ Million)
Table 10. Canada Managed Network Services Market, Revenue and Forecast to 2028 – By End-Use Vertical (US$ Million)
Table 11. Mexico Managed Network Services Market, Revenue and Forecast to 2028 – By Type (US$ Million)
Table 12. Mexico Managed Network Services Market, Revenue and Forecast to 2028 – By Deployment (US$ Million)
Table 13. Mexico Managed Network Services Market, Revenue and Forecast to 2028 – By Organization Size (US$ Million)
Table 14. Mexico Managed Network Services Market, Revenue and Forecast to 2028 – By End-Use Vertical (US$ Million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Managed Network Services Market Segmentation
Figure 2. North America Managed Network Services Market Segmentation – By Country
Figure 3. North America Managed Network Services Market Overview
Figure 4. North America Managed Network Services Market, By Component
Figure 5. North America Managed Network Services Market, By Deployment
Figure 6. North America Managed Network Services Market, By Organization Size
Figure 7. North America Managed Network Services Market, By End-Use Vertical
Figure 8. North America Managed Network Services Market, By Country
Figure 9. North America: PEST Analysis
Figure 10. Expert Opinion
Figure 11. North America Managed Network Services Market Impact Analysis of Drivers and Restraints
Figure 12. North America Managed Network Services Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. North America Managed Network Services Market Revenue Share, By Type (2021 and 2028)
Figure 14. North America Managed LAN: Managed Network Services Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 15. North America Managed Network Security: Managed Network Services Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 16. North America Managed Monitoring: Managed Network Services Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 17. North America Managed VPN: Managed Network Services Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 18. North America Managed WAN: Managed Network Services Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 19. North America Managed Wi-Fi: Managed Network Services Market – Revenue, and Forecast to 2028 (US$ Million)
Figure 20. North America Managed Network Services Market Revenue Share, By Deployment (2021 and 2028)
Figure 21. North America Cloud: Managed Network Services Market- Revenue and Forecast to 2028 (US$ Million)
Figure 22. North America On-Premise: Managed Network Services Market- Revenue and Forecast to 2028 (US$ Million)
Figure 23. North America Managed Network Services Market Revenue Share, By Organization Size (2021 and 2028)
Figure 24. North America Large Enterprises: Managed Network Services Market- Revenue and Forecast to 2028 (US$ Million)
Figure 25. North America On-Premise: Managed Network Services Market- Revenue and Forecast to 2028 (US$ Million)
Figure 26. North America Managed Network Services Market Breakdown, By End-Use Vertical (2021 and 2028)
Figure 27. North America BFSI Market Revenue and Forecast to 2028 (US$ Million)
Figure 28. North America Government Market Revenue and Forecast to 2028 (US$ Million)
Figure 29. North America IT & Telecommunication Market Revenue and Forecast to 2028 (US$ Million)
Figure 30. North America Manufacturing Market Revenue and Forecast to 2028 (US$ Million)
Figure 31. North America Media & Entertainment Market Revenue and Forecast to 2028 (US$ Million)
Figure 32. North America Retail & e-Commerce Market Revenue and Forecast to 2028 (US$ Million)
Figure 33. North America Others Market Revenue and Forecast to 2028 (US$ Million)
Figure 34. North America Managed Network Services Market Breakdown, By Country- Revenue (2021) (US$ Million)
Figure 35. North America Managed Network Services Market Breakdown, by Country, 2021 & 2028 (%)
Figure 36. US Managed Network Services Market, Revenue and Forecast to 2028 (US$ Million)
Figure 37. Canada Managed Network Services Market, Revenue and Forecast to 2028 (US$ Million)
Figure 38. Mexico Managed Network Services Market, Revenue and Forecast to 2028 (US$ Million)
- Accenture PLC-Global.
- CISCO Systems,Inc.-Global.
- Cognizant Technology Solution Corporation-Global.
- Fujitsu Limited-Global.
- Huawei Technologies Co.,Ltd- Global.
- Kyndryl Inc-Global.
- NTT Limited-Global.
- Tata Consultancy Services Limited-Global.
- Varizon Communication Inc-Global.
- HCl Technologies, Ltd-Global.