Managed Network Services Market Worth $59 Billion By 2021

nycwired February 17, 2017March 3, 2017 iOT, network securities, New York, New York City, New York City Wired

According to a new market research report published by MarketsandMarkets, the managed network services market including network provisioning, VPN, Data Storage, Network Monitoring, Network Security, and Hosted IP market size is expected to grow from $38.60 Billion in 2016 to $59.38 Billion by 2021, at an estimated Compound Annual Growth Rate (CAGR) of 9.0 percent.

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.

Read the full report at marketsandmarkets.com