Cloud Managed Network Market
The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Cloud Managed Network Market. The growth sectors of the Cloud Managed Network Market are identified with precision for a better growth perspective.
The geographical analysis of the global cloud managed LAN market has been done for North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
North America accounted for the largest market share in the cloud-managed LAN market which can be attributed to the presence of tier I vendors and early adoption of cloud solution associated with highly skilled expertise. Additionally, the US is expected to be a dominant region in the market owing to increased demand for dynamic delivery of applications and services in real-time offered by tier I vendors.
Europe accounted for the second spot in the global cloud managed LAN market in terms of market size. The European market has been divided into the UK, Italy, Spain, Germany, France, and the rest of Europe. The UK accounted for the largest market share in 2018 and is expected to continue to dominate the market whereas Germany is expected to exhibit the highest CAGR during the forecast period. The market growth is attributed to the exponential growth of users and devices in highly connected ecosystems, access to data in hybrid cloud environments, and increasing demand for secure networks. The enterprises across the European region are witnessing the adoption of intent-based networking that enables them to expand its networks solution from SD-WAN to SD-LAN, offering multiple domain segmentation, automation and analytics solutions across verticals.
The market in Asia-Pacific is expected to be the fastest-growing from 2019 to 2025. The regional market has been classified as China, Japan, India, Australia, South Korea, Singapore, and the rest of Asia-Pacific. Emerging economies such as India and China are witnessing huge traction for cloud-based managed services. Apart from these economies, developed economies such as Australia, Singapore, and South Korea are witnessing a growing demand for cloud technology which has led to both their domestic and foreign IT vendors launching new cloud services for their end users.
Lack of technical expertise, interoperability issues, and emphasize on the modernization of legacy networks with the help of cloud-based solution are likely to give rise to a gradual growth of South America and the Middle East and Africa cloud-managed LAN market.
The global cloud-managed LAN market has been segmented based on component, organization size, vertical, and region.
By component, the global cloud managed LAN market has been divided into hardware, solutions, and services. The hardware segment accounted for the largest market share in 2018, whereas the services segment is anticipated to have the highest CAGR during the forecast period. Furthermore, the solution segment has been further segmented into configuration solution, authentication, authorization and accounting (AAA) security/authentication, unified SD-LAN and SD-WAN management, network management, guest access, monitoring and performance management, policy enforcement, and onboarding services.
Additionally, the services segment has been categorized as professional services and managed services. The managed services accounted for a larger market share in 2018, and it is expected to dominate the market during the forecast period. Furthermore, the professional services segment has been further divided into deployment and implementation services, consulting services, and other support services.
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Cloud-managed LAN Market by Type, Size, Growth and Forecast – 2024 | MRFR
Cloud-managed LAN Market is likely to register a CAGR of 12.3% during the Predicted Years, Global…
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