ID: MRFR/SEM/9568-HCR | February 2023 | Region: Global | 120 Pages
Network Engineering Services Market is expected to grow USD 76.3 billion at a CAGR 9.4% during the forecast period 2022-2030.
$76.3 billion
9.4%
North America
2022-2030
The global network engineering services market size is projected to be worth USD 76.3 billion by 2030, registering a CAGR of ~9.4 % during the forecast period (2022 - 2030).
The global network engineering services industry is segmented into Service type, Vertical, and Region. Based on Service type, the global network engineering services market trends is segmented into Network Assessment, Network Design, and Network Deployment. Based on Vertical, the global network engineering services market is segmented into Telecom, Banking, Financial Services, and Insurance, Education, Energy and Utilities, Healthcare, and Others. Based on region, the market is divided into North America, Europe, Asia-Pacific, Middle East and Africa, and South America.
The expansion of the loT connection industry's income is being attributed to the rising investments in sensing technologies for automating industrial processes. The demand for audio devices, vehicle entertainment and diagnostic equipment, smart city initiatives, automation, and wearable electronics with networking capabilities is driving the market's ongoing growth. A major driver of the market expansion for global network engineering services is the introduction of machine-generated data, which is constantly increasing and necessitates fast and wide network bandwidth.
Alongside digitalization, the risks of data theft and misuse are rising. Businesses hold sensitive information that must be kept secure to prevent theft and data breaches that could damage their overall brand. Organizations could potentially lose their technological advantages, designs, and sourcing knowledge, among other sensitive business-related data, if their data is disclosed.
There are many prospects for growth in emerging industries like the gaming sector, OTT, smart wearables, and smart home appliances because all these sectors rely heavily on networking services for their own services and solutions. There are additional prospects for the market for global network engineering services to expand thanks to Al and cloud services.
The global network engineering services market is segmented into Service type, and Vertical.
Based on region, the market is divided into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. North America will have the largest market during the forecasted period. Because of its solid financial standing, North America can invest extensively in implementing the most cutting-edge tools and technology to guarantee efficient corporate operations. These benefits provide this region's businesses a competitive edge over those in other locations. The area has cutting-edge IT infrastructure and was an early adopter of network solutions. The way customers connect and engage with businesses across industries has changed because of technological and automation improvements. During the projection period, it is anticipated that the expanding ICT investments in North America will increase demand for global network engineering services.
The key industry players are adopting various business strategies such as significant investments in marketing activities to increase their market presence and expand their product portfolio thereby, driving the global network engineering services. In addition, the market players are adopting several strategic initiatives such as new product launches, mergers & acquisitions, contractual agreements, increasing investments, and collaboration with other players to expand their global footprint.
List of companies covered in the Network Engineering Services Market report:
The study covers the existing short-term and long-term market effects. It helps decision-makers to draught short-term and long-term business plans by region. The report covers major regions in North America, Europe, Asia-Pacific, and the Rest of the World. The report analyzes market drivers, restraints, opportunities, challenges, Porter's five forces, value chain, and impact of COVID-19 on the market.
Report Attribute/Metric | Details |
---|---|
Market Size | 2030: USD 76.3 Billion |
CAGR | 9.4% (2022-2030) |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2020 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Services Type, Vertical, and Region |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World |
Key Vendors | Cisco (US), IBM (US), Ericsson (Sweden), Huawei (China), Juniper Networks (US), HCL Technologies (India), Infosys (India), NTT Global Networks (US), Fujitsu (Japan), Cyient (Hyderabad), CSS Corp (US) Accenture (Ireland), Aviat Networks (US), AT&T (US), Wipro (India), and TCS (India) |
Key Market Opportunities | Network-dependent industries are expanding |
Key Market Drivers | Rising demand for networking services |