Europe Managed Network Services Market Forecast to 2030 - Regional Analysis - by Type, Deployment, Organization Size, and End-Use Vertical

The Europe managed network services market is expected to grow from US$ 19,135.97 million in 2023 to US$ 41,210.49 million by 2030. It is estimated to grow at a CAGR of 11.6% from 2023 to 2030.

Rising Digital Transformation Fuels Europe Managed Network Services Market

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. For instance, in March 2021, Deloitte and Google Cloud launched a security analytics platform that uses Deloitte's cyber risk quantification and risk management frameworks with Google products Looker, Chronicle, and BigQuery. Companies continually migrated their workloads to the cloud for better flexibility and portability. Hence, the public cloud is becoming an increasingly important asset for a company's IT strategy. As such migrations are relatively complex, both large and small and medium enterprises (SMEs) seek MSPs for managed network services. Most enterprises cannot derive valuable business insights from such huge amounts of generated data. Artificial intelligence (AI) and machine learning (ML) can be utilized for harnessing meaningful insights from such data; however, to do so, companies first need to address certain critical aspects, including multi-cloud data management, data privacy, and data governance. For all such requirements, MSPs can strongly aid businesses by offering cost-effective solutions without requiring huge investments.

Europe Managed Network Services Market Overview

The growing digital transformation in Europe supports the market growth for managed network services. Digital transformation offers several opportunities for European countries. There is a growing understanding that there is a need for action to foster the digital transformation of European businesses, especially for SMEs and traditional sectors. Moreover, Interreg Europe, co-funded by the European Union, is a cooperation program in Europe that strives to bring together the different regional and local government authorities to develop sustainable and innovative solutions to overcome regional developmental challenges. Several Interreg Europe projects tackle the digital transformation from different perspectives. Their policy aims to provide an overview of their good practices and policies on fostering SMEs' digital transformation, focusing on traditional sectors and SMEs with low digital maturity. Further, digital transformation drives the growth for higher agility in networks, which supports businesses in delivering better customer experience. Multiple European businesses plan to adopt new digital technologies as part of the digital transformation trend. As businesses progress with their digital efforts, every organization can be expected to partner with an MNS provider for its digital transformation. Furthermore, collaboration with such MNS providers can aid in understanding the needs of enterprises to bridge the skill gap of employees and enter new markets with advanced solutions. MNS providers have the required skill sets to support several facets of digital transformation. The increasing trend for digital transformation is expected to boost the managed network services market in Europe.
Europe Managed Network Services Market to 2030 (US$ Million)

Europe Managed Network Services Market Segmentation

The Europe managed network services market is segmented into type, deployment, organization size, end use, and country.

Based on type, the Europe 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 registered the largest Europe managed network services market share in 2023.

Based on deployment, the Europe managed network services market is segmented into cloud and on-premise. The on-premise segment held a larger Europe managed network services market share in 2023.

Based on organization size, the Europe 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 registered the largest Europe managed network services market share in 2023.

The SMEs segment is sub-segmented into BFSI, government, IT & telecommunication, manufacturing, media & entertainment, retail & e-commerce, and others. The IT & telecommunication segment registered the largest Europe managed network services market share in 2023.

Based on end-use vertical, the Europe managed network services market is segmented into BFSI, government, IT & telecommunication, manufacturing, media & entertainment, retail & e-commerce, and others. The IT & telecommunication segment held the largest Europe managed network services market share in 2023.

Based on country, the Europe managed network services market has been categorized into the Germany, France, Italy, UK, Russia, and the Rest of Europe. Germany dominated the Europe managed network services market share in 2023.

Accenture Plc; Cisco Systems Inc; Cognizant Technology Solutions Corp; Fujitsu Ltd; HCL Technologies Ltd; Huawei Investment & Holding Co Ltd; Kyndryl Holdings Inc; Tata Consultancy Services Ltd; and Verizon Communications Inc are some of the leading companies operating in the Europe managed network services market.

Reasons to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe managed network services market.
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in the Europe managed network services market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the managed network services market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution