Managed Services Market Projected to Hit USD 507.13 Billion at a 9.76% CAGR by 2030 | IBM, Accenture
Managed Services Market
Market Overview
The Global managed DNS service market is expected to grow at 9.76% CAGR and is expected to reach USD 507.13 Billion during the forecast period. The desire for query-free, user-friendly, and secure cloud environments for data transfer is propelling the data network services market forward at a rapid pace. The complexity of managing and monitoring data flow is reduced by managed DNS services, and the number of inquiries while requesting the domain name from the Internet service provider is increasing. Growing economies, demand risk-free data center infrastructure, expanding government concerns about data security, and the growing threat of cyber-attacks are all projected to move the managed DNS service business forward over the projection period.
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For the past two decades, service providers have been active in the managed DNS market. These service providers have aided network operators in advancing and promoting managed DNS services all around the world. Several European and North American countries have enacted regulations requiring network operators to provide high-speed data services. One of the key factors for the adoption of managed DNS services is the growing amount of distributed denial of service (DDoS) attacks.
Market Segmentation:
Based on the service type, the market has been segmented into premium/advanced DNS, DDos protected DNS and GeoDNS.
Based on the size of the organization, the market has been segmented into small & medium enterprises and large enterprises.
Based on the end-user, the market has been segmented into media & entertainment, banking, financial services and insurance (BFSI), healthcare, retail and consumer goods, government, education, E-commerce, and others.
Based on the region, the market has been segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.
By Service Type:
- Cloud Services
- Security Services
- Data Center Services
- Collaboration Services
- Mobility Services
- Network and Testing services
- Others
By Organizational Sizes:
- Large Enterprises
- Medium and Small Enterprises
By Vertical:
- IT and Telecommunication
- BFSI
- Utilities and Energies
- Retails
- E-commerce
- Manufacturing
- Healthcare
- Education and Research
Regional Analysis:
- North America
- Asia Pacific
- Europe
- South America
- The Middle East and Africa
Regional Classification:
In terms of market share, North America dominates the managed DNS service market. The presence of several managed DNS service providers who offer their services to both local and international clients is credited with the market's growth.
During the historic projection period, Europe was the second-largest market for managed DNS services. Following the United Kingdom, Germany, France, and the rest of Europe are predicted to gain the most market share. An increase in the number of small and medium-sized businesses using managed DNS services is one of the factors driving the market growth. Enterprises in the IT and telecommunications, retail, and BFSI verticals are progressively adopting managed DNS services.
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Industry News:
The major key players of the global managed DNS service market are Cloudflare Inc., ClouDNS, Netlify, Neustar Inc., Oracle Corporation, Google Inc., Amazon Web Services Inc., Akamai Technologies, EasyDNS Technologies Inc., Namecheap.com, CDNetworks Inc., VeriSign Inc., No-IP.com Rackspace US, Inc., Contegix, Microtech USA LLC, and Thousand Eyes Inc. As a result of increasing DDoS attacks, businesses are turning to managed DNS service providers, resulting in a tremendous market opportunity. Another factor driving the market for managed DNS services is price. Managed DNS service providers provide DNS management at a low cost, allowing small and medium-sized businesses to administer DNS without incurring additional costs. As a result, businesses are turning to managed DNS services, which provide DNS management at a lower cost.
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