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(Chicago.CityRegions.Com, March 03, 2017 ) “Managed network security services are expected to grow at the highest CAGR during the forecast period”
The managed network services market of the software solutions is expected to grow at an impressive CAGR during the forecast period, as there is an increasing demand for network security services with data backup solutions. The managed network service providers are responsible for creating managed network services, in compliance with the industry requirements and in providing comprehensive support for their clients. The managed network services provide operational efficiencies along with security. They also help in driving new businesses and providing better experience for end-users.
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“Telecom and IT vertical is expected to grow at a higher growth rate during the forecast period of 2016–2021”
The telecom and IT end-use vertical is estimated to hold the largest market share in 2016. The telecom and IT vertical requires high connectivity for connecting users and collaborating with partners as well as customers. The vertical is highly competitive due to the increasing number of small and medium businesses and enhancements in across its segments.
“Asia-Pacific region is expected to witness a high growth during the forecast period”
North America is estimated to hold the largest market share in 2016, while APAC will be the fastest growing region in terms of CAGR. As various vendors such as networking providers, telecom carriers, and technology vendors are trying to capture the APAC market. Moreover, number of emerging market players are hosting from the APAC region.
The major application providers in the managed network services market include Accenture (Dublin, Ireland), Alcatel-Lucent Enterprise (Paris, France), AT&T Inc. (Texas, U.S.), Cisco Systems, Inc. (California, U.S.), Ericsson (Stockholm, Sweden), HCL Technologies Limited (Noida, India), Hewlett Packard Enterprise Development LP (California, U.S.), Huawei Technologies Co., Ltd. (Shenzhen, China), International Business Machines (IBM) Corporation (New York, U.S.), LG Networks, Inc. (Dallas, U.S.), and Wipro Limited (Bangalore, India).
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