The global market for managed security services is anticipated to witness robust growth, reaching US$ 130 Bn in value by 2031 assessment period. By 2021-end, a valuation of US$ 60.4 Bn is projected for the industry. The market is poised to surge more than 2x in the forthcoming decade, with demand for managed security services to be most prominent.
According to Fact.MR- a market research and competitive intelligence provider- the scope for managed network services significantly broadened, reflecting a CAGR worth 10% across the 2016-2020 historical period. Increased demand to streamline operational workflows and enhanced requirements for virtual security perimeters has largely elevated demand.
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Streamlining the work process increasing demand for managed network services?
Digital transformation is fueling the desire for greater agility in networks that help organisations deliver better consumer experiences. Every organisation has recruited the aid of a managed network services provider as they invest more money in digital transformation.
According to managed services provider Marco, 59% of IT services have moved from the old break-fix strategy to a managed service contract model. Furthermore, in the next years, 45% of firms want to work with a managed security service provider. To efficiently streamline everyday operational workflow across enterprises, all of this is done.
How is the Need for MNS Growing Due to Quantum Computing?
In comparison to current supercomputers, quantum computing technology utilises less electricity while doing a number of calculations that are both quicker and more accurate. Because to this, organisations in the financial services, information technology and telecommunications, transportation, and aerospace and defence sectors are now using quantum computing to manage data.
The telecom industry is expected to experience rapid growth, and quantum radio access networks (RAN) are expected to become a reality by the end of the next decade. Quantum chips may be installed closer to user premises as technology advances and they become more readily available in tiny form-factors. The cloud-enablement of processors is intended to accelerate virtualized RAN functions.
Key managed network services providers are leveraging strategies such as partnerships with government authorities or regional service providers, introduction of new management services and acquiring existing small and medium-scale service providers.
- In April 2021, South Korea, Asia’s fourth-largest economy, and Cisco announced the launch of a collaborative framework under Cisco’s Country Digital Acceleration (CDA) program in April 2021 to accelerate digitization across the country and power an inclusive recovery from the COVID-19 pandemic.
- In October 2021, AT&T Inc. announced that the U.S Air Force has selected the company’s FirstNet® high-speed broadband communications platform to deliver reliable and on-priority communications to its public safety personnel and first responders across 15 bases
Key Companies Profiled
- Accenture Plc
- Alcatel-Lucent Enterprise
- AT&T Inc.
- CenturyLink Inc.
- Cisco Systems Inc.
- GTT Communications Inc.
- HCL Technologies Ltd.
- Hewlett Packard Enterprise Company