The North America Cloud Managed Network Market should witness market growth of 9.1% CAGR during the forecast period (2022-2028).
It is projected that demand for cloud managed network will be driven by enterprises' growing need to reduce operational and infrastructure costs associated with business processes. Organizations can concentrate on their core capabilities by outsourcing cloud services to third parties, which increases overall productivity. Demand for managed analytics and cloud storage services increased as the amount of data increased. Also, the requirement for stability and scalability drives up the demand for these services, allowing businesses to expand by offering tailored versions of the current services.
As more businesses use Software-as-a-Service (SaaS) programs and other cloud-based services, such as American Red Cross, Netflix, and Rovio, the need for cloud-based managed security services is expected to rise. Furthermore, the trend of BYOD in many enterprises and the rising use of mobile devices are also projected to fuel demand for the market, which manages these devices for usage and security requirements. In addition, adopting personal devices by a large proportion ofthe workforce may further fuel the expansion of the cloud managed network market.
North America's solid financial standing enables it to spend substantially on innovative solutions and technology, giving regional businesses a competitive edge in the marketplace. In addition, the region is home to several important cloud managed services providers, including CenturyLink Inc.,IBM Corporation, and Cisco Systems Inc., among others. The increased implementation of big data solutions by major IT companies, such as Google and Microsoft, to improve efficiency and optimize their business processes is pushing the regional adoption of cloud managed networks. As a result of all these factors, the market for cloud managed networks should witness growth in the region.
The US market dominated the North America Cloud Managed Network Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $9,906.6 million by 2028. The Canada market is poised to grow at a CAGR of 11.6% during (2022-2028). Additionally, The Mexico market should witness a CAGR of 10.6% during (2022-2028).
Based on Component, the market is segmented into Solution and Services. Based on Vertical, the market is segmented into IT & ITeS, BFSI, Manufacturing, Retail & Ecommerce, Media & Entertainment, Healthcare & Life Sciences, Transportation & Logistics, Energy & Utilities, and Others. Based on Organization size, the market is segmented into Large Enterprises and SMEs. Based on Deployment Mode, the market is segmented into Public Cloud and Private Cloud. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cisco Systems, Inc., IBM Corporation, Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), NTT Data Corporation, Hewlett Packard Enterprise Company (HP Development Company L.P.), Juniper Networks, Inc., Accenture PLC, Fujitsu Limited, NEC Corporation and Extreme Networks, Inc.
It is projected that demand for cloud managed network will be driven by enterprises' growing need to reduce operational and infrastructure costs associated with business processes. Organizations can concentrate on their core capabilities by outsourcing cloud services to third parties, which increases overall productivity. Demand for managed analytics and cloud storage services increased as the amount of data increased. Also, the requirement for stability and scalability drives up the demand for these services, allowing businesses to expand by offering tailored versions of the current services.
As more businesses use Software-as-a-Service (SaaS) programs and other cloud-based services, such as American Red Cross, Netflix, and Rovio, the need for cloud-based managed security services is expected to rise. Furthermore, the trend of BYOD in many enterprises and the rising use of mobile devices are also projected to fuel demand for the market, which manages these devices for usage and security requirements. In addition, adopting personal devices by a large proportion ofthe workforce may further fuel the expansion of the cloud managed network market.
North America's solid financial standing enables it to spend substantially on innovative solutions and technology, giving regional businesses a competitive edge in the marketplace. In addition, the region is home to several important cloud managed services providers, including CenturyLink Inc.,IBM Corporation, and Cisco Systems Inc., among others. The increased implementation of big data solutions by major IT companies, such as Google and Microsoft, to improve efficiency and optimize their business processes is pushing the regional adoption of cloud managed networks. As a result of all these factors, the market for cloud managed networks should witness growth in the region.
The US market dominated the North America Cloud Managed Network Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $9,906.6 million by 2028. The Canada market is poised to grow at a CAGR of 11.6% during (2022-2028). Additionally, The Mexico market should witness a CAGR of 10.6% during (2022-2028).
Based on Component, the market is segmented into Solution and Services. Based on Vertical, the market is segmented into IT & ITeS, BFSI, Manufacturing, Retail & Ecommerce, Media & Entertainment, Healthcare & Life Sciences, Transportation & Logistics, Energy & Utilities, and Others. Based on Organization size, the market is segmented into Large Enterprises and SMEs. Based on Deployment Mode, the market is segmented into Public Cloud and Private Cloud. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Cisco Systems, Inc., IBM Corporation, Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), NTT Data Corporation, Hewlett Packard Enterprise Company (HP Development Company L.P.), Juniper Networks, Inc., Accenture PLC, Fujitsu Limited, NEC Corporation and Extreme Networks, Inc.
Scope of the Study
By Component
- Solution
- Services
By Vertical
- IT & ITeS
- BFSI
- Manufacturing
- Retail & Ecommerce
- Media & Entertainment
- Healthcare & Life Sciences
- Transportation & Logistics
- Energy & Utilities
- Others
By Organization size
- Large Enterprises
- SMEs
By Deployment Mode
- Public Cloud
- Private Cloud
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Cisco Systems, Inc.
- IBM Corporation
- Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
- NTT Data Corporation
- Hewlett Packard Enterprise Company (HP Development Company L.P.)
- Juniper Networks, Inc.
- Accenture PLC
- Fujitsu Limited
- NEC Corporation
- Extreme Networks, Inc.
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. North America Cloud Managed Network Market by Component
Chapter 5. North America Cloud Managed Network Market by Vertical
Chapter 6. North America Cloud Managed Network Market by Organization size
Chapter 7. North America Cloud Managed Network Market by Deployment Mode
Chapter 8. North America Cloud Managed Network Market by Country
Chapter 9. Company Profiles
Companies Mentioned
- Cisco Systems, Inc.
- IBM Corporation
- Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
- NTT Data Corporation
- Hewlett Packard Enterprise Company (HP Development Company L.P.)
- Juniper Networks, Inc.
- Accenture PLC
- Fujitsu Limited
- NEC Corporation
- Extreme Networks, Inc.
Methodology
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About the Market
The Cloud Managed Network market is a subset of the larger Network market, focusing on the use of cloud-based technologies to manage and monitor networks. Cloud Managed Networks are designed to provide organizations with a more efficient and cost-effective way to manage their networks. This is achieved by leveraging cloud-based technologies to automate network management tasks, such as configuration, monitoring, and troubleshooting. Additionally, Cloud Managed Networks can provide organizations with Read more
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