The need for secure and reliable technology is a major factor driving the market’s growth. Globally, several cyber-security attacks have become a major cause of concern. In regions such as APAC, in 2016, nearly 300,000 banking malwares were detected. Outdated technologies are the reason leading to an increase in the number of such attacks. In 2016, nearly 48% of British business had faced a cybersecurity attack. Managed network security solutions are implemented to safeguard confidential data of organizations. Such data are prone to attacks from malicious software as well as unauthorized external access, further increasing the need for security solutions.
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In this report, Technavio highlights the increasing investment in quantum computing as one of the key emerging trends in the global managed network services market:
Increasing investment in quantum computing
A major factor fueling the growth of the global managed network services market is the increasing interest in quantum computing. The commercially available computers are slowly reaching the final level of their computational ability. The need for efficient systems to solve computational errors has become critical to various industries as the amount of data keeps increasing. Quantum computing is a technology that applies the laws of quantum mechanics to computational ability. Once developed at its highest potential, a quantum computer will be able to perform calculations that are thousands of times faster than modern supercomputers and consume less electricity. Quantum computing falls under the purview of high-performance computing, as it deals with processing data at extremely super-fast speeds.
“The rising investments in quantum computing indicate its possible use across several industries such as the aerospace and defense, transportation, government, IT and telecommunication, BFSI, healthcare, and several others. There will an increase in the need for managed network services to support the massive amount of data that are processed by these computers, thus driving the market during the forecast period,” says a senior analyst at Technavio for research on IT security.
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Global managed network services market segmentation
This market research report segments the global managed network services market into the following applications (telecom and ITES, BFSI, retail and consumer, and healthcare), end-users (SMEs and large enterprises) and key regions (the Americas, APAC, and EMEA).
The BFSI segment held the largest market share in 2017, accounting for nearly 29% of the market. The market share for this application is expected to increase by 2022. The fastest growing application is telecom and ITES, which will account for nearly 27% of the total market share by 2022.
The Americas was the leading region for the global managed network services market in 2017, accounting for a market share of nearly 40%. However, by 2022, EMEA is expected to surpass the Americas to become the leading region, accounting for a market share of 36%.
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