Mar 30, 2020 (AB Digital via COMTEX) -- Cloud Managed Lan Market
The Global Cloud-Managed LAN Market was valued at USD 524.7 million in 2018 and is expected to register a CAGR of 12.3% during the forecast period to reach USD 1,183.8 Million by 2025. The market growth can be attributed increase adoption of bring your own devices (BYOD) and choose your own devices (CYOD) among business enterprises, and rapid increase in deployment of Wi-Fi solution across the public venues.
The global cloud-managed LAN market has been segmented based on component, organization size, vertical, and region.
By component, the global cloud managed LAN market has been divided into hardware, solutions, and services. The hardware segment accounted for the largest market share in 2018, whereas the services segment is anticipated to have the highest CAGR during the forecast period. Furthermore, the solution segment has been further segmented into configuration solution, authentication, authorization and accounting (AAA) security/authentication, unified SD-LAN and SD-WAN management, network management, guest access, monitoring and performance management, policy enforcement, and onboarding services.
Additionally, the services segment has been categorized as professional services and managed services. The managed services accounted for a larger market share in 2018, and it is expected to dominate the market during the forecast period. Furthermore, the professional services segment has been further divided into deployment and implementation services, consulting services, and other support services.
Based on organization size, the global cloud managed LAN market has been categorized as small- and medium-sized enterprises (SMEs) and large enterprises. The large enterprise segment accounted for the larger market size in 2018, whereas the SMEs segment is expected to account for the higher CAGR during the forecast period.
Based on vertical, the market has been categorized into IT and telecom, BFSI, media and entertainment, education, manufacturing, government and public sector, travel and hospitality, transportation and logistics, and others. The IT and telecom segment accounted for the largest market value in 2018, whereas BFSI segment is presumed to register the highest CAGR during the assessment period.
The geographical analysis of the global cloud managed LAN market has been done for North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
North America accounted for the largest market share in the cloud-managed LAN market which can be attributed to the presence of tier I vendors and early adoption of cloud solution associated with highly skilled expertise. Additionally, the US is expected to be a dominant region in the market owing to increased demand for dynamic delivery of applications and services in real-time offered by tier I vendors.
Europe accounted for the second spot in the global cloud managed LAN market in terms of market size. The European market has been divided into the UK, Italy, Spain, Germany, France, and the rest of Europe. The UK accounted for the largest market share in 2018 and is expected to continue to dominate the market whereas Germany is expected to exhibit the highest CAGR during the forecast period. The market growth is attributed to the exponential growth of users and devices in highly connected ecosystems, access to data in hybrid cloud environments, and increasing demand for secure networks. The enterprises across the European region are witnessing the adoption of intent-based networking that enables them to expand its networks solution from SD-WAN to SD-LAN, offering multiple domain segmentation, automation and analytics solutions across verticals.
The market in Asia-Pacific is expected to be the fastest-growing from 2019 to 2025. The regional market has been classified as China, Japan, India, Australia, South Korea, Singapore, and the rest of Asia-Pacific. Emerging economies such as India and China are witnessing huge traction for cloud-based managed services. Apart from these economies, developed economies such as Australia, Singapore, and South Korea are witnessing a growing demand for cloud technology which has led to both their domestic and foreign IT vendors launching new cloud services for their end users.
Lack of technical expertise, interoperability issues, and emphasize on the modernization of legacy networks with the help of cloud-based solution are likely to give rise to a gradual growth of South America and the Middle East and Africa cloud-managed LAN market.
MRFR identifies some of the key players in the cloud-managed LAN market including Cisco Systems, Inc (US), Riverbed Technology (US), Huawei Technologies Co Ltd (China), HP Enterprise Development LP (US), DXC Technology. (US), Iricent Ltd (Dublin), Aerohive Networks (US), Juniper Networks, Inc. (US), Extreme Networks (US), CommScope (US), Verizon (US), Nokia Corporation (France), Cambium Networks, Ltd (US), Emeriocorp. (Singapore), LANCOM Systems GmbH, (Germany), and T-Systems International GmbH (Germany).
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