According to a recent report by P&S Intelligence, the cloud-managed network market is projected to reach USD 50.3 billion by 2030, expanding at a CAGR of 12.2% during the forecast period.
Cloud-managed networks provide organizations with enhanced scalability and flexibility, enabling them to maintain and operate their hardware and software without requiring on-premises infrastructure. These networks ensure smooth device connectivity and offer centralized management, enhancing both network efficiency and security.
Cloud Services Lead the Market
Infrastructure as a Service (IaaS) enables businesses to access computing resources on a pay-as-you-go model, allowing them to procure network assets online without significant capital investments. With cloud-based networking, organizations can efficiently manage computer networks, subnetworks, and security systems.
Software as a Service (SaaS) remains a preferred choice for businesses utilizing cloud solutions, offering secure and reliable communication and data protection. SaaS-based cloud networks provide advanced security measures, including encryption, key management, security monitoring, identity & access management, and data privacy.
Public Cloud to Experience the Fastest Growth
The public cloud segment is expected to witness the highest growth rate due to its unmatched flexibility and scalability. Businesses, regardless of size, benefit from public cloud solutions as they enable them to scale operations quickly in response to market demand.
The rise in startups is further propelling the demand for cloud services, as these businesses leverage cloud-based solutions to store media and documents, reducing the need for physical storage and allowing them to focus on business expansion.
North America Leads in Cloud Network Adoption
North America's IT sector is renowned for its technological advancements and innovation in IoT and networking, making it a frontrunner in cloud network service management. The region’s leadership in digital transformation is a key driver behind its widespread cloud adoption.
Additionally, several major enterprises in North America have integrated cloud-based solutions as an essential part of their operations. These corporations were among the early adopters of cloud network management solutions, further boosting market growth.
To maintain a competitive edge, governments and businesses in the region are heavily investing in technological advancements. The increasing demand for scalable and adaptable network management solutions is fueling the expansion of cloud-managed networks, reinforcing the region’s dominance in the global market.
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