Global Managed MPLS Market to Grow at a CAGR of 6.1% During 2024-2032, Driven by Expanding Virtual Private Cloud

Multi-Protocol Label Switching or MPLS is referred to as a telecom routing technique used in wide area networks (WANs). The managed MPLS market demand is being supported by the growth of the virtual private cloud sector.

Utilising MPLS-based virtual private clouds presents a strong choice for linking cloud services owing to their private network features, enhanced connectivity, and the availability of redundant infrastructure. Additionally, MPL VPNs improve performance and traffic control, are more reliable and secure than the public Internet, reduce bandwidth requirements, and provide flexibility.

The expanding banking, financial services, and insurance (BFSI) sector is supporting a greater adoption of managed MPLS. MPLS provide stable, secure, and scalable WAN connectivity through an outsourced routing model, featuring high quality of service (QoS), and supported by a service level agreement (SLA).

For BFSI companies, MPLS facilitates the efficient operation of various applications on a logically private and secure network. MPLS is user-friendly, ensures easy management, and maintains a high uptime for businesses in the financial and risk management sector.

As BFSI organisations are established in remote locations, establishing a secure connection is crucial, making MPLS technology an optimal solution. Companies such as AT&T Inc (NYSE: T), BT Group PLC, and Cisco Systems Inc. are engaged in research and development and product expansion, contributing to the market growth.

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Market Analysis by Service, End Use, and Region:

• The market, on the basis of service, can be divided into Layer 2 VPN and Layer 3 VPN.

• Based on end use, the market can be divided into healthcare, banking, financial services and insurance, retail, manufacturing, government, and IT and telecommunication, among others.

• The major regional markets for managed MPLS include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global managed MPLS market growth can be attributed to the rising adoption of virtual private networks (VPN).

• The growing banking, financial services, and insurance (BFSI) market is further contributing to the expansion of the market.

• The market is being driven by the growing demand for high-speed internet in a variety of end-use sectors.

• The rising demand for high-quality video conferencing and VoIP service is increasing the adoption of MPLS.

Key Offerings of the Report:

• The EMR report gives an overview of the global managed MPLS market for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the services, end uses, and major regions of managed MPLS.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global managed MPLS market are AT&T Inc., BT Group PLC, Cisco Systems Inc., Lumen Technologies Inc., Vodafone Group plc, NTT Global Networks Incorporated, Syringa Networks, LLC, Orange S.A., Verizon Communications Inc., Tata Communications Ltd, and China Telecom Corp Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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