Rockville Pike, MD -- (SBWIRE) -- 09/03/2019 -- Managed network services are complementary services including functions and networking applications that an enterprise outsources from a third party service provider, typically MSPs (Managed Service Providers). Transport services such as LAN, WAN and SD-WAN (software defined WAN) come under the spectrum of services offered by MSPs. In addition, the services extend to unified communications and network consulting and implementation services.
The managed network services market report offers historical data and forecast projections on every market segment. Analysis on the managed network services market includes detailed examination on service type, enterprise type, end use vertical and region. Analysis on various services includes as managed voice, managed VPN, managed security services, managed conferencing and managed WAN/SD WAN. Enterprise type segmental snapshot covers insights on small enterprises, medium enterprises and large enterprises. End user analysis covers a large pool of industries including banking & securities, insurance, communication, media & services, healthcare providers, manufacturing & natural resources, retail, wholesale trade, transportation, transport, utilities, education and government.
Comprehensive research on managed network services market includes regional tracking across North America, Latin America, Europe, CIS & Russia, Japan, Asia Pacific Excluding Japan (APEJ) and Middle East and Africa (MEA). The study also reflects detailed regional breakup including analysis on various countries such as United States, Canada, Brazil, Mexico, Chile, Argentina, Peru, EU-4, United Kingdom, Nordic, Benelux, China, India, ASEAN countries, South Korea, Australia & New Zealand, South Africa, Iran, Turkey and Israel.
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Outsourcing managed network services facilitate effective "cost control" – a pivotal facet for every organization and enterprise. Specialist software and hardware being an expensive engagement, need for outsourcing has picked up steam that delivers tailor-made services to the enterprise as the need be. An MSP (Managed Services Provider) provides custom services and solutions, wherein costs are spread across the contract term with the provider in turn minimizing initial outlay costs significantly.
The "pay as you go" model followed by managed network services enables the enterprise to reduce on additional wages for the IT staff that is not required at that moment, however, it also provides additional staff and expertise on an ad-hoc basis. This results in substantial savings in training and hiring activities. In addition, with a fixed payment system, enterprises can carry out effective budgeting without concerns regarding additional hidden costs. An all-inclusive pricing of managed network services includes proactive management along with reactive support and service. Moreover, multiple IT services can be managed over single connection that facilitates reduction in infrastructure costs. Facilitating cost control being a major feature of managed network services, their adoption across various enterprises is likely to witness an upward growth path in the forthcoming years.
Offering standard set of managed network services have a direct influence on the financial success of any enterprise or business. According to the Technology Services Industry Association (TSIA), 2016 reflected a 43 percent increase in standard managed network services offerings by MSPs and in first half of 2018, the number rose to around 68 percent. Managed network services are a different set in an organization's portfolio of services as customers are not focused on purchasing technology alone but the operation of technology.
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Sales representatives are not in-tune with the customer's routine issues. Against this backdrop, it becomes essential to appoint dedicated customer success personnel for managed services. Such a custom function facilitates identification of potential cross selling and upselling opportunities, and acts as a strategic advisor to the client. According to TSIA, companies are expected to largely invest in customer success functions in the managed services domain. Managed services with customer success can ensure high contract renewal rates along with enhanced retention of recurring revenue and facilitating revenue growth from existing customer base.
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