Managed MPLS Market Outlook
According to the report by Expert Market Research (EMR), the global managed MPLS market size reached a value of USD 65.31 billion in 2023. Aided by the escalating demand for efficient network management solutions and the rising adoption of cloud services, the market is projected to further grow at a CAGR of 6.1% between 2024 and 2032 to reach a value of USD 111.56 billion by 2032.
Managed MPLS is a network service that offers businesses the ability to streamline their network infrastructure, providing enhanced performance, reliability, and scalability. It enables the efficient routing of data across a wide area network (WAN), making it an ideal solution for organisations with multiple locations or those requiring high-quality connectivity for data-intensive applications.
Get a Free Sample Report with Table of Contents@ https://www.expertmarketresearch.com/reports/managed-mpls-market/requestsample
The driving force behind the managed MPLS market growth is the increasing demand for robust network management solutions. As businesses continue to expand their digital footprint, the complexity of managing network resources escalates. Managed MPLS services offer a simplified approach to network management, enabling businesses to focus on their core operations while ensuring optimal network performance. Additionally, the widespread adoption of cloud services has significantly contributed to the growth of the Managed MPLS market. With the shift towards cloud-based applications and services, organisations require reliable and efficient connectivity to access their cloud resources. Managed MPLS provides a secure and high-performance connection to the cloud, facilitating seamless access to cloud-based applications and services.
The managed MPLS market expansion is also influenced by the growing trend of digital transformation across various industries. As businesses embrace digital technologies to enhance their operations, the demand for Managed MPLS services has surged. These services support the digital transformation journey by providing a scalable and flexible network infrastructure that can adapt to the evolving needs of the business. Service Level Agreements (SLAs) are becoming increasingly important in the Managed MPLS market. Businesses are looking for guarantees on network performance, uptime, and support response times. Providers that offer strong SLAs are more likely to win and retain customers, as they provide assurance of quality service.
As per the managed MPLS market analysis, the increasing focus on cybersecurity is driving the demand for Managed MPLS services. With the rise in cyber threats, organisations are seeking solutions that offer enhanced security features. Managed MPLS services provide secure connectivity options, such as Virtual Private Networks (VPNs), which protect data transmission across the network.
The proliferation of Internet of Things (IoT) devices and the rise of edge computing are driving the need for more robust and reliable networking solutions which can boost the managed MPLS market share. Managed MPLS services are well-suited to meet these demands, providing the necessary bandwidth and low latency required for IoT applications and edge computing infrastructure.
Read Full Report with Table of Contents@ https://www.expertmarketresearch.com/reports/managed-mpls-market
Organisations are increasingly adopting hybrid network models that combine MPLS with other connectivity options like broadband and LTE. As per the managed MPLS market outlook, this trend is driven by the need for more flexible and cost-effective networking solutions. Hybrid networks offer the ability to balance performance and cost by using MPLS for critical applications while leveraging less expensive connections for less sensitive traffic.
Geographically, the North American region holds a significant share of the global, attributed to the presence of a large number of businesses and the early adoption of advanced networking technologies. However, the Asia-Pacific region is expected to witness the fastest growth in the managed MPLS market during the forecast period, driven by the rapid expansion of businesses and the increasing adoption of cloud services in emerging economies such as China and India.
Managed MPLS Market Segmentation
The market can be divided based on service, end use, and region.
Market Breakup by Service
- Layer 2 VPN
- Layer 3 VPN
Market Breakup by End Use
- Healthcare
- Banking, Financial Services and Insurance
- Retail
- Manufacturing
- Government
- IT and Telecommunication
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global managed MPLS market. Some of the major players explored in the report by Expert Market Research are as follows:
- AT&T Inc.
- BT Group PLC
- Cisco Systems Inc
- Lumen Technologies Inc.
- Vodafone Group plc
- NTT Global Networks Incorporated
- Syringa Networks, LLC
- Orange S.A.
- Verizon Communications Inc.
- Tata Communications Ltd.
- China Telecom Corp Ltd
- Others
Explore More Trending Reports:
Top 6 Companies Leading the Global Light Weapons Market
Top 5 Leading Brands in the Basmati Rice Market Across the United States
Media Contact:
Company Name: Claight Corporation
Contact Person: Eren smith, Corporate Sales Specialist – U.S.A.
Email: sales@expertmarketresearch.com
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Website: https://www.expertmarketresearch.com
Aus. Site: https://www.expertmarketresearch.com.au/
