Network Transformation Market Forecasts to 2028 – Global Analysis By Enterprise Size (Large Enterprise, Small & Medium Enterprise), Component (Service, Solution), End User and By Geography
According to Stratistics MRC, the Global Network Transformation Market is accounted for $26.64 billion in 2020 and is expected to reach $1,056.11 billion by 2028 growing at a CAGR of 58.4% during the forecast period. Rising adoption of IT as a service (ITaaS), growing need for the enhancement of present networking solutions, and increasing bandwidth requirement are the major factors propelling the market growth. However, lack of expertise and skills in the development of next-generation networking solutions and security threats are hampering the market growth.
Network transformation solutions provide affluence in operating a communication network. It enables a telecom operator to decrease the network complexity and lessen the overall management cost. Cloud service providers, telecommunication service providers, and enterprises are biggest beneficiaries of this as in telecommunication sector and there is huge margin pressure on service providers, owing to the varying needs of consumers such as usages of OTT services and data consumption. Conventional networks of service providers are not capable to handle this demand from consumers and hence they are reconfiguring their network with the help of network transformation solutions, to manage the challenges of increasing the average revenue per user (ARPU) and traffic explosion.
Based on end user, the information technology (IT) & telecom segment is going to have a lucrative growth during the forecast period owing to the integration of latest technologies such as big data and machine learning and implementation of latest networking infrastructure by the organizations. Network transformation solutions are widely used in the industry for the purpose of handling wide area network (WAN) circuit trouble tickets and connectivity equipment, and enhancing site bandwidth, connectivity, and traffic utilization. Furthermore, the IT & telecom industry is in the increasing need for data centre functions to integrate with business operations for boosting operational efficiency, which is anticipated to bode well for the market growth.
By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the rapid adoption of new technologies and the development of IT infrastructure, along with improved investments in R&D projects. The implementation of cloud-based solutions and growing investments in data security among numerous companies in the region is expected to contribute to market growth. Moreover, the increasing investments in SMEs by emerging economies such as India and China are expected to further propel the market growth.
Some of the key players profiled in the Network Transformation Market include Accenture Plc, Ciena, Cisco Systems, Inc, Dell EMC, Ericsson, Fujitsu, Hewlett Packard Enterprise (HPE), Huawei Technology Co. Ltd, IBM Corporation, Intel Corporation, Juniper Networks Inc, Mavenir, NEC Corporation, Nokia Networks, and Samsung.
Enterprise Sizes Covered:
• Large Enterprise
• Small & Medium Enterprise
End Users Covered:
• Banking, Financial Services and Insurance (BFSI)
• Energy & Utility
• Information Technology (IT) & Telecom
• Media & Entertainment
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
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