Increasing Trend Of Bring Your Own Device By Organizations is Expected to Boost the Market Growth in Network Transformation Market During the Forecast Period

Pune, India, March 2021, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Network Transformation Market.

Market Overview

According to Market Research Future, the Global Network Transformation Market has been segmented based on Component, Organization Size, Vertical, and Region/Country. The Network Transformation market is projected to grow from USD 7.0466 Billion in 2023 to USD 51.15817691 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 28.12% during the forecast period (2023 - 2032).

Network transformation enables organization to automate their networks to provide new advanced services with speed and cater their customers with excellent usage experience. This is achieved through connected devices, new applications, automation technologies, enhanced security controls, adoption of cloud-based services, among others. Some of the benefits offered by the network transformation include enhanced transperency and control, standardized services, short deployment cycles, faster site connectivity that enables agile business of digital services, provide customer-oriented product offerings for superior user satisfaction, increase productivity in day-to-day business operations, greater network security to meet regulatory compliances, boost adoption of cloud through via cloud exchanges and direct SaaS connectivity, among others.

By component, the global network transformation market has been divided into solution and services. Further, the solution sub-segment is bifurcated into 5G networks, cloud/centralized radio access network (C-RAN), network automation, and software-defined networking (SDN) & network functions virtualization (NFV). Whereas services sub-segment is divided into professional services and managed services.

By organization size, the global network transformation market has been divided into small & medium enterprise and large enterprise.

Depending on its vertical, the network transformation market is split into BFSI, energy & utility, government, healthcare, IT & telecom, manufacturing, retail, and others.

The global network transformation market has been analyzed for five regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

Regional Analysis

By region, the global network transformation market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. North America is expected to be the largest market due to the higher adoption of innovative technology solutions and services in the region. Also, the benefits offered by network transformation including enhanced transperency and control, standardizied services, short deployment cycles, faster site connectivity that enables agile business of digital services, provide customer-oriented product offerings for superior user satisfaction, increase productivity in day-to-day business operations, greater network security to meet regulatory compliances, boost adoption of cloud through via cloud exchanges and direct SaaS connectivity, among others.

Key Players

The key players in the global network transformation market are Ciena Corporation (US), Cisco Systems, Inc. (US), Telefonaktiebolaget LM Ericsson (Sweden), Dell Inc. (US), FUJITSU (Japan), Juniper Networks, Inc. (US), Hewlett Packard Enterprise Development LP (US), Intel Corporation (US), IBM Corporation (US), NEC Corporation (US), Ribbon Communications Operating Company, Inc. (US), Wipro Limited (India), TATA Communications (India), Sakon (US), and Curvature (US).