The managed network services market is anticipated to witness noteworthy growth over the coming years due to favorable government initiatives on expanding internet connectivity, digitalizing businesses, expanding retail sector, and rising adoption of managed Wi-Fi services in shows and events. Rising product adoption across various application avenues such as BFSI, IT & telecom, government, and healthcare among others will also greatly contribute towards market growth.

Managed network services are known as networking applications, services, and functions that enterprises usually outsource to operate remotely, monitor as well as to be maintained by a MSP (managed service provider). These services generally range from standard network access as well as transport services such as conventional leased LAN and WAN lines to novel software-defined WAN connections along with virtual network services.

The managed network services market is segmented in terms of type, organization size, application, and regional landscape.

With respect to type, the market for managed network services is classified into managed monitoring, managed security, managed Wi-Fi, managed WAN, managed VPN, and managed LAN. Among these, managed Wi-Fi segment is likely to grow with a CAGR of around 18.1% over the forecast timeframe. Managed Wi-Fi services are increasingly being used for providing Wi-Fi hotspot services to attendees in shows and events with high speed and density.

In 2020