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Managed Network Services Market Size to Grow USD 50660 Million at a CAGR of 5.7% | Valuates Reports

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BANGALORE, India, Aug. 2, 2024 /PRNewswire/ — Managed Network Services Market is Segmented by Type (Managed Internet Access, Network Provisioning, VPN, Data Storage, Network Monitoring), by Application (Financial Services, Communications Industry, Public Sector, Media, Retail, Manufacturing, Medical).

The Global Managed Network Services Market size is expected to reach USD 50660 Million by 2029, growing at a CAGR of 5.7% from 2023 to 2029.

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Major Factors Driving the Growth of Managed Network Services Market:

The market for managed network services is expanding rapidly due to the growing need for dependable and secure connection as well as the complexity of network infrastructures becoming more complicated. To guarantee the best possible performance, scalability, and security, businesses are outsourcing their network administration to specialist suppliers more and more. A variety of solutions are included in managed network services, including security management, maintenance, optimization, and network monitoring. The increasing popularity of cloud computing, IoT, and remote work practices is driving up demand for managed network services as businesses look to simplify operations and concentrate on their core competencies. The market is driven by the necessity of adhering to regulatory requirements and the increasing risk of cyberattacks.

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TRENDS INFLUENCING THE GROWTH OF THE MANAGED NETWORK SERVICES MARKET:

The market for managed network services is expanding due to managed internet access in the financial services industry, which offers fast, dependable, and secure connection that is necessary for crucial financial activities. In order to complete transactions, access real-time data, and guarantee regulatory compliance, financial institutions depend on reliable internet connection. Protecting sensitive financial data requires the use of improved security features like encryption and threat detection, which are provided by managed services. Furthermore, managed internet solutions lower the chance of interruptions that might affect financial activities by guaranteeing continuous performance and uptime. Financial institutions may concentrate on their main business while gaining enhanced network security and dependability by outsourcing internet administration to specialist providers. This helps to drive the growth of the Managed Network Service market.

The market for managed network services is expanding due to network provisioning, which makes network resource deployment and administration more efficient. Businesses may swiftly expand their network infrastructure in response to fluctuating needs, such increasing data traffic or the addition of additional users and devices, by using efficient network provisioning. Managed network services minimize human participation and potential mistakes by providing automated provisioning tools that guarantee network resources are deployed efficiently. For businesses with intricate, dynamic network infrastructures, such international enterprises or those with several branch offices, this feature is especially crucial. Businesses may gain increased agility, enhance network performance, and lower operating costs by utilizing managed network services for provisioning, which will propel market growth.

Cost effectiveness is one of the main reasons propelling the Managed Network Service market’s expansion. With managed network services, companies may hire experts to handle their networks instead of employing internal IT workers or making large infrastructure expenditures. This outsourcing approach is an affordable option for businesses of all sizes since it reduces capital and operating expenses. In order to make sure that companies only pay for the services they use, providers provide scalable services that may be modified dependent on the needs of the company. Accurately forecasting and managing networking expenses improves financial planning and resource allocation, which incentivizes more businesses to use managed network services and propels market expansion.

Another factor propelling the Managed Network Service market is the requirement for firms to concentrate on their core strengths. Companies that outsource network administration to outside vendors may focus on their core competencies, such product development, customer support, and strategic planning. Managed network services relieve internal resources and internal IT teams of the strain by managing the intricacies of network security, maintenance, and performance optimization. Businesses may increase their productivity and efficiency through this strategic outsourcing, which improves overall performance. The demand for managed services for network administration is rising as more businesses realize the advantages of concentrating on their core competencies.

One major issue affecting the Managed Network Service market’s growth is regulatory compliance. Data security, privacy, and network integrity are governed by strict standards that apply to many businesses, including telecommunications, healthcare, and finance. Managed network service providers assist companies in avoiding fines and harm to their reputation by making sure that their products adhere to all applicable laws and standards. Providers make sure that clients comply with regulations by providing thorough compliance assistance, which includes routine audits, security assessments, and documentation. Businesses benefit greatly from managed services’ capacity to assist them negotiate difficult regulatory environments, which encourages service uptake and foster’s market expansion.

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MANAGED NETWORK SERVICES MARKET SHARE:

The Managed Network Service market exhibits notable geographical differences, with North America prevailing owing to its sophisticated technical infrastructure, elevated cloud service adoption rates, and robust presence of major industry participants. Due in large part to its thriving IT and telecom industries, the United States in particular makes significant contributions.

Europe is not far behind, with nations like France, Germany, and the United Kingdom making significant investments in cybersecurity and digital transformation.

The development of enterprises, rising internet usage, and large network infrastructure expenditures by nations like China, Japan, and India are driving the Asia-Pacific region’s fast growth.

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Key Companies:

Cisco SystemsInternational Business MachinesHCL TechnologiesEricssonHewlett Packard Enterprise DevelopmentAccenture PlcAlcatel-Lucent EnterpriseAT&TWIPRO LIMITEDLG NetworksHuawei Technologies

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Technology

Live Good: A Journey of Courage, Education and Purpose

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Live Good is the realization of one individual’s inspiring vision to create something meaningful to share with the world.

IRVINE, Calif., Dec. 24, 2024 /PRNewswire/ — Founded on the principles of time, education and a sense of purpose, Live Good aspires to empower individuals through access to transformative learning opportunities.

“When I finally found the courage to create Live Good, I wanted it to embody the values and principles that I find meaningful,” said Jennifer Chi, founder of Live Good. “To me, the most precious resource in life is time. The time you spend can never be reclaimed. If I was going to spend all this time and energy on something, it had to be something I deeply believed in.”

The second cornerstone of Live Good is education. Drawing from personal experiences, Jennifer emphasizes education as a life-changing force. Books became vital growing up, opening windows to new perspectives and worlds. “My favorite book as a child was Little House on the Prairie by Laura Ingalls Wilder,” Jennifer shared. “It may have been a simple book about a girl living in the 1800s learning how to cook and do chores to help her family, but now I understand how incredible it was that a little girl living back then even knew how to read and write. She had the foresight to understand that writing about her life on the prairie, however simple it seemed, might be of some importance in the future. And she had the courage to publish her own words.”

Recognizing the transformative power of education and the impact of mentorship, Live Good prioritizes access to education as a central mission. “My love for reading and curiosity for learning became a lifeline,” Jennifer added. “I was blessed with teachers who saw potential in a very quiet and shy little girl. Live Good is my way of giving others the same opportunities that once gave me a little spark inside and a pathway forward.”

Through innovative programs and partnerships, Live Good aims to make education accessible and foster growth and resilience. It’s more than an initiative—it’s a testament to the belief that every moment spent on meaningful endeavors can ripple out to create a brighter future for others.

Live Good proudly aligns with educational models, such as Capstone Programs in the University of California (UC) school system. These programs serve as a bridge between academic learning and real-world application, embodying the mission of Live Good by fostering life-changing learning experiences.

Other educational initiatives focus on collaborating with Women in Information and Computer Sciences within the UC system to create programs that empower women through high-tech training. Additionally, Live Good offers a mentorship program for at-risk youth from schools spanning San Francisco to Southern California to foster college admission and equip students with the skills they need to realize their dreams.

For more information about Live Good Inc, and to sign up for their newsletter, visit Live Good Inc. Follow on Instagram, Facebook and Threads.

Contact:
Adrienne Johnson
***@gmail.com

Photos:
https://www.prlog.org/13053993

Press release distributed by PRLog

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SOURCE Live Good Inc.

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Technology

Town of Ault joins the Rocky Mountain E-Purchasing System

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The Town of Ault announced it has joined the Rocky Mountain E-Purchasing System and will be publishing and distributing upcoming bid opportunities on the system.

AULT, Colo., Dec. 24, 2024 /PRNewswire-PRWeb/ — The Town of Ault announced it has joined the Rocky Mountain E-Purchasing System and will be publishing and distributing upcoming bid opportunities on the system. Bidnet Direct by SOVRA’s Rocky Mountain E-Purchasing System connects over 450 participating agencies from across Colorado and Wyoming. The purchasing group provides a transparent bid process through which the bid is available to all vendors at the same time. The Town of Ault invites all potential vendors to register online at http://www.bidnetdirect.com/colorado/townofault.

“Registered vendors can access bids, related documents, addendum and award information.”

The Town of Ault joined the purchasing group in December 2024. The Town of Ault will utilize the system to streamline their purchasing process including bid distribution, bid management, and vendor relations. The Rocky Mountain E-Purchasing System is a single, online location for managing sourcing information and activities and provides 456 local government agencies the tools needed to have a transparent bid process while minimizing costs and saving time.

“The Rocky Mountain E-Purchasing System allows us to establish and maintain a system of transparency for not only the agency but the vendors who would like to do business with us. All the information we have regarding the bid, addenda, and awards, along with Q&A’s is available to all with just one click of the mouse. By fostering a more transparent environment, it allows for more public participation and collaboration and holds our agency accountable for all that we do during the bid process,” stated Sharon Sullivan, Town Administrator of the Town of Ault.

As a participating agency of the Rocky Mountain E-Purchasing System, it allows the Town of Ault to expand their vendor pool and enhance vendor competition without increasing distribution costs. To be added to the existing list of vendors on the Rocky Mountain E-Purchasing System, any suppliers looking to do business with the Town of Ault can register online: http://www.bidnetdirect.com/colorado/townofault. The Town of Ault encourages all interested bidders to register today.

Registered vendors can access open bids, related documents, and files, additional addendum, and available award information from all participating agencies. In addition, the Rocky Mountain E-Purchasing System offers a value-added service to notify vendors of new bids targeted to their business, including all addenda and advance notification of expiring term contracts.

With one click, the Town of Ault can now see how many vendors match a specific opportunity, how many have downloaded documents, responded and more. The Town of Ault also has its own, branded page on the public side of the Rocky Mountain E-Purchasing System in which taxpayers can view all closed bids and any awarded information.

Vendors may register on the Rocky Mountain E-Purchasing System: http://www.bidnetdirect.com/colorado/townofault. Bidnet Direct’s vendor support team is available to answer any questions regarding the registration process or the bid system at 800-835-4603 option 2.

Other local Colorado and Wyoming government agencies looking to switch from a manual bid process, please contact the Rocky Mountain E-Purchasing System for a demonstration of the no-cost sourcing solution.

About the Town of Ault:

Ault is a statutory town located in Weld County, Colorado, United States. The town population was 1,887 at the 2020 United States Census. Ault is a part of the Greeley, CO Metropolitan Statistical Area and the Front Range Urban Corridor.

About SOVRA:

SOVRA is a leading source-to-contract solution that connects regional purchasing groups, including the Rocky Mountain E-Purchasing System, across all 50 states, supporting local governments in streamlining their procurement processes. With a focus on transparency and efficiency, SOVRA empowers government agencies to enhance their purchasing activities. Learn more about how we help build stronger communities and economies by maximizing the value of every dollar spent. Visit https://sovra.com.

Media Contact

Bertrand Guignat, Bidnet Direct, 800-835-4603, bertrand.guignat@mdfcommerce.com, www.bidnetdirect.com

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Technology

2025 Will See Increased QR Code Payments but Payment Card IC ASPs Will Not Return to Pre-Covid Levels

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ABI Research’s 5th annual Trend Report identifies the key Digital Payment Technologies trend that will come to fruition —and the 1 that won’t—in 2025

NEW YORK, Dec. 24, 2024 /PRNewswire/ — As 2025 kicks off, predictions abound on the technology innovations expected in the year ahead. In its new whitepaper, 101 Technology Trends That Will—and Won’t—Shape 2025, analysts from global technology intelligence firm ABI Research. ABI Research analysts identify 54 trends that will shape the technology market and 47 others that, although attracting vast amounts of speculation and commentary, are less likely to move the needle over the next twelve months. In the Digital Payment Technologies space, 2025 will see increased QR code payment acceptance but little growth for payment card IC ASPs.

“2024 has been marked by challenges, from global conflicts and inflationary pressures to political uncertainty. These factors have strained enterprise and consumer spending, leading to market inertia, short-term technology investments, sidelined capital, and the exposure of vulnerable suppliers,” says Stuart Carlaw, Chief Research Officer at ABI Research. “From a technology perspective, many industries and end markets are in that awkward stage of technology adoption where they are formulating implementation strategies, assessing solutions and partners, and trying to see if they have the resources needed to roll out solutions at scale. This is a particularly sensitive time, which tends to suggest 2025 will have tech implementers and end users on the brink of a period of a massive technology shift as they work through these issues.”

What Will Happen in 2025:

QR code payment acceptance will continue to increase with use cases expanding
Although QR code payment acceptance is prevalent in countries such as China and growing in emerging digital payment markets, including in India, use cases and potential growth areas are not limited to these countries. Significant and continued investments by vendors, including PayPal, Stripe, and SumUp, are setting the foundation for increased adoption in other mature and established economies with use cases expanding. Although QR codes are already being used by many Small and Medium Enterprises (SMEs) and pop-up retail businesses, 2025 will mark the year when the technology begins to shift from one niche to partial mainstream.

What Won’t Happen in 2025:

Payment card IC ASPs will not return to pre-COVID-19 levels
Since the COVID-19 pandemic, chipset pricing has been on a continual rise, driven by increased pricing in myriad manufacturing areas, including energy, raw material, transit pricing, and inflation, driving up wages. The chip shortage further compounded this, and according to ABI Research, the Average Selling Price (ASP) for a payment card Integrated Circuit (IC) increased by approximately +30% between 2020 and 2023. However, despite pricing pressures returning, the cost of payment ICs is some years away from matching pre-COVID-19 levels. Although 2025 will mark another year of pricing deprecation, it will not be until around 2028 when pricing is expected to drop to levels similar to those achieved in 2019 steadily.

For more trends that will and won’t happen in 2025, download the whitepaper, 101 Technology Trends That Will—and Won’t—Shape 2025.

About ABI Research

ABI Research is a global technology intelligence firm uniquely positioned at the intersection of technology solution providers and end-market companies. We serve as the bridge that seamlessly connects these two segments by providing exclusive research and expert guidance to drive successful technology implementations and deliver strategies proven to attract and retain customers.

ABI Research是一家全球性的技术情报公司,拥有得天独厚的优势,充当终端市场公司和技术解决方案提供商之间的桥梁,通过提供独家研究和专业性指导,推动成功的技术实施和提供经证明可吸引和留住客户的战略,无缝连接这两大主体。

For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.

Contact Info: 

Global                                                             
Deborah Petrara                                                           
Tel: +1.516.624.2558                                                   
pr@abiresearch.com     

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SOURCE ABI Research

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