Cloud Managed Networking Market to Reach $14.61 Billion by 2027; Increasing Internet Penetration and Rising Smartphone Use will Emerge in Favor of Market Growth

The global cloud managed networking market size is projected to reach USD 14.61 billion by the end of 2027. The increasing use of cloud platforms will have a positive impact on the global market growth. According to a report published by Fortune Business Insights, titled “Cloud Managed Networking Market Size, Share & COVID-19 Impact Analysis, By Type (Hardware, Software and Services), By Deployment (Public Cloud and Private Cloud), By Enterprise Size (Small and Medium Enterprises (SMEs) and Large Enterprises), By Industry (Telecom & IT, Retail, Media & Entertainment, Educational Institutions and Others and Regional Forecast, 2020-2027, the market was worth USD 3.32 billion and will exhibit a CAGR of 21.1% during the forecast period (2020-2027).

Cloud managed networking is the ability to manage an interconnected network of wireless devices through a common platform. It simplifies the overall networking process and enables ease of use. The presence of numerous large scale cloud managed networking companies across the world providing unique cloud services will have a positive impact on the growth of the overall market in the coming years. The increasing investments in the implementation of cloud-based networks will create several growth opportunities for the companies operating in this market. Additionally, the presence of several large scale, as well as SMEs will provide impetus to the growth of the overall market in the foreseeable future. The rising internet penetration across the world will also contribute to the growth of the market in the coming years.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/cloud-managed-networking-market-104151

Extreme Network’s Acquisition of Aerohive Has had a Massive Global Impact

The report highlights few of the major industry developments of recent times. Accounting to the increasing use of cloud-based networks by IT organizations, these companies are looking to collaborate with manufacturers through long-term contracts. As a result, there have been several company mergers and acquisitions in the past few years in Asia Pacific and North America. The report also labels a few of the major company acquisitions occurring in the United States that have influenced the growth of the global cloud managed networking market.

In August 2019, Extreme Networks announced that it has completed the acquisition of Aerohive. The latter has been a provider of cloud managed networking solution services for several years.  This acquisition is said to be worth USD 272 million. Through this acquisition the company will look to integrate cloud managed networking solutions and subsequently improve its offerings. Extreme Networks latest acquisition will not just help the company improve its personal portfolio but also contribute to the growth of the overall market in the coming years.

Increasing Number of Data Centers will Create Several Growth Opportunities

The increasing number of data centers across the world has given the platform for cloud managed networking companies in recent years. Several companies across diverse industrial sectors are making use of data centres for cloud based implementation. This allows the companies to store a large amount of data and also give accessibility to its employees and other related professionals. The availability of low-cost cloud platforms is another factor that has contributed to the growth of the market in recent years.

Major Companies Looking to Offer Long term Contract to Vendors

Several large enterprises are looking to enter into long-term contracts with vendors in the cloud managed networking sector.  It is observed that long-term contracts help companies gain access to networking solutions at lower cost and also enable real-time services in a seamless manner. Additionally, these contracts help organizations avail repair and maintenance services at lower costs, which subsequently contributes to market growth.

List of companies profiled in the report:

•          Aruba (Hewlett Packard Enterprise Company) (California, United States)

•          NETGEAR, Inc. (California, United States)

•          Cisco System, Inc. (California, United States)

•          Prodec Networks (Twyford, Berkshire)

•          APSU, Inc. (Chattanooga, Tennessee)

•          Fortinet, Inc. (California, United States)

•          Mindsight (Illinois, United States)

•          Total Communications, Inc. (Connecticut, United States)

•          Huawei Technologies Co., Ltd. (Shenzhen, China)

•          Extreme Networks (California, United States)

Industry Development:

July 2020: Cisco System, Inc. announced that it has merged with AT&T Inc.’s subsidiary AT&T Communications to expand its SD-WAN Offering. The merger was completed to assist enterprises to leverage SD-WAN offerings securely and efficiently, thereby gaining access to cloud networks.

The global cloud managed networking market is segmented on the basis of: