Network Transformation Market Research Report: Information By Components (Solutions, Services), By Organization Size (Small Enterprises and Medium Enterprises, Large Enterprises), By Vertical (BFSI, Energy & Utility, Government, Healthcare, IT & Telecom, Manufacturing) and By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2030.
ID: MRFR/ICT/8969-HCR | 100 Pages | Author: Ankit Gupta | December 2023
Speak to Analyst
Request a Free Sample
Network Transformation Market Overview
Network Transformation Market Size was valued at USD 5.5 billion in 2022. 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 market solutions to process large volumes of data with speed, accuracy, and greater network security are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Network Transformation Market Trends
Network Transformation solutions driving the market growth
With the growing demand for network transformation solutions and increasing technological advancements, organizations today focus on network transformation solutions. IT teams are fiercely working to balance cloud and on-premises CHPC solutions. Enterprises are scaling out on-premises CHPC resources as needed. Simultaneously, cloud service providers (CSPs) have also started to offer turn-key Network Transformation market solution environments tailored to enterprises' specific workload needs. A hybrid CHPC solution results in better efficiencies. Apart from this, it also helps resolve security and privacy concerns and lowers maintenance costs. Therefore, the increasing focus on Network Transformation solutions is expected to provide tremendous opportunities for the growth of the network transformation market. The capacity of HPC systems to process huge amounts of data at high speeds encourages academic institutions, defense agencies, energy companies, government agencies, and the utility sector to adopt HPC systems, which also helps expand the high-performance computing Market CAGR.
Additionally, the growing demand for high-efficiency computing, advancements in virtualization, and continued diversification and expansion of the IT industry. The network Transformation market is the ability of network transformation market solutions to process large volumes of data quickly and accurately. The industry verticals function as prominent market segments where the market applications are encountering slow and inefficient data processing issues, including areas like finance, medical, research, seismic exploration, government, and others like defense. The quick-paced nature of the financial market, which is additionally volatile, makes vitality crucial so that the derivative valuations are processed faster and more accurately. In the medical field, the prominent emergence of market applications such as computed tomography (CT) scanning and magnetic resonance imaging (MRI) require quick, accurate results from processing complex algorithms. CHPC helps them considerably reduce computing time and simplifies the CT and MRI data processes quickly and accurately are the main factor driving the Network Transformation market revenue.
Network Transformation Market Segment Insights
Network Transformation Components Insights
The Network Transformation market segmentation includes solutions and services based on components. The solutions segment held the largest market; advanced technologies, infrastructure upgrades, network optimization, agility, scalability, automation, and intelligent management. Solutions provide the necessary tools and capabilities for organizations to transform their networks and address the evolving demands of the digital landscape. Advanced technologies, infrastructure upgrades, network optimization, agility, scalability, automation, and intelligent management. Solutions provide the necessary tools and capabilities for organizations to transform their networks and address the evolving demands of the digital landscape.Moreover, the solution segment is dominated due to the availability of a wide range of vendor offerings and the competitive landscape. Leading technology providers and network equipment vendors offer comprehensive solutions that encompass hardware, software, and management tools.
Figure1: Network Transformation Market, By Component, 2022 & 2030(USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Network Transformation Organization Size Insights
Based on organization size, the Network Transformation market segmentation includes small and medium enterprises and large enterprises. The large enterprises segment held the largest market sharedue to its complex network infrastructure, financial capabilities, specific industry needs, and access to specialized solutions and services. These organizations require comprehensive network transformation to optimize operations, enhance network performance, and address unique requirements.
Network Transformation Vertical Insights
Based onVertical, the Network Transformation market segmentation includes BFSI, Energy & Utility, Government, Healthcare, IT & Telecom, and Manufacturing. The BFSI segment witnessed the largest market sharedue to the sector's reliance on secure networking infrastructure, compliance requirements, cybersecurity concerns, demand for real-time transactions, and the drive for innovation. Network transformation initiatives are essential for the BFSI industry to meet these challenges and enable secure, efficient, and technologically advanced financial services.
Network Transformation Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Network Transformation market will dominate this market due to the increasing adoption of smart connected devices and IloE and the adopter of new technologies. Enterprises in the country have adopted new technology solutions to enhance the manageability and flexibility required for adding new network capabilities and capacity to boost the market growth in this Region.
Further, the major countries studied in the market report areThe U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: NETWORK TRANSFORMATION MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Network Transformation market accounts for the second-largest market share due to theincreased budgets and grants that have encouraged various leading players to make significant investments in the Region. Further, the German Network Transformation market held the largest market share, and the UK Network Transformation market was the fastest-growing market in the European Region.
The Asia-Pacific Network Transformation Market is expected to grow fastest from 2022 to 2030. The growing development of the IT infrastructure, the adoption of new technologies, and increased investments in large-scale infrastructure and R&D projects by vendors in the Region. Moreover, China’s Network Transformation market held the largest market share, and the Indian Network Transformation market was the fastest-growing market in the Asia-Pacific region.
Network Transformation Key Market Players& Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the network transformation market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. An increasingly competitive market environment, the network transformation industry needs to provide cost-effective solutions and offerings. Businesses in this industry must deliver products and services that are economically viable and offer a high-value proposition to their customers. By offering cost-effective solutions, companies can attract more customers, retain existing clients, and sustain growth in a dynamic and evolving market landscape.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Network Transformation industry to benefit clients and increase the market sector. In recent years, the Network Transformation industry has offered healthcare some of the most significant advantages. Major players in the Network Transformation market, including 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)., and others, are attempting to growing market demand by investing in research and development operations.
NEC Corporation, a Japanese multinational IT and electronics corporation headquartered in Minato, Tokyo, underwent a rebranding in 1983, changing its name from Nippon Electric Company, Limited to NEC. Recently, NEC Corporation acquired Blue Danube Systems, an information technology company based in Japan. Blue Danube Systems provides Open RAN solutions, end-to-end Open 5G solutions, and system integration expertise. This acquisition enables NEC to enhance its customer service capabilities and expand its assets in North America. It also allows NEC to offer a broader range of Open RAN solutions to meet its customer's specific requirements and preferences. Blue Danube Systems, based in the United States, is renowned for its wireless technologies for mobile networks and other applications.
Cisco Systems, Inc., commonly known as Cisco, is an American-based multinational digital communications technology Conglomerate Corporation headquartered in San Jose, California. Cisco launched Cisco Plus, a step toward network as a service. According to Cisco, Cisco Plus will offer as-a-service models for its networking, computing, and storage hardware.
Key Companies In The Network Transformation Market Include
-
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).
Network Transformation Industry Developments
March 2021: Cisco launched Cisco Plus, a step toward network as a service. According to Cisco, Cisco Plus will offer as-a-service models for its networking, computing, and storage hardware.
January 2022: NEC Corporation, a prominent IT company based in Japan, has acquired Blue Danube Systems, a US-based company specializing in wireless technologies for mobile networks and other applications. This strategic acquisition strengthens NEC's customer service capabilities and expands its assets in the North American market. Additionally, it enhances NEC's Open RAN solutions offering, allowing the company to meet its customer's specific requirements and demands. Blue Danube Systems is known for its innovative 5G beamforming technology, significantly improving network capacity and enhancing the overall user experience.
Network Transformation Market Segmentation
Network Transformation Components Outlook
-
Solutions
-
Services
Network Transformation Organization Size Outlook
-
Small Enterprises
-
Medium Enterprises
-
Large Enterprises
Network Transformation Vertical Outlook
-
BFSI
-
Energy & Utility
-
Government
-
Healthcare
-
IT & Telecom
-
Manufacturing
Network Transformation Regional Outlook
-
North America
-
US
-
Canada
-
-
Europe
-
Germany
-
France
-
UK
-
Italy
-
Spain
-
Rest of Europe
-
-
Asia-Pacific
-
China
-
Japan
-
India
-
Australia
-
South Korea
-
Australia
-
Rest of Asia-Pacific
-
-
Rest of the World
-
Middle East
-
Africa
-
Latin America
-
Report Scope:
| Report Attribute/Metric | Details |
| Market Size2022 | USD 5.5 billion |
| Market Size 2023 | USD 7.0466 billion |
| Market Size 2030 | USD 51.1581 billion |
| Compound Annual Growth Rate (CAGR) | 28.12% (2023-2030) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2030 |
| Historical Data | 2019- 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Components, Organization Size, Vertical, and Region |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | 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)., and others |
| Key Market Opportunities | The new application architectures (microservices and containers) to help automate networks also contribute to market growth. |
| Key Market Dynamics | The market analysis suggests that the United States is anticipated to hold the leading position in market share at the country level. However, Canada is expected to exhibit the highest growth rate among all the segments during the forecast period. This indicates that the Canadian market is poised for rapid expansion and presents significant opportunities for growth and investment. |
Frequently Asked Questions (FAQ) :
The Network Transformation market size was valued at USD 5.5 Billion in 2022.
The market is estimated to grow at a CAGR of 28.12% during the forecast period, 2023-2030.
North America witnessed the largest share of the market
The key players in the 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)., and others.
The Solution Network Transformation category dominated the market in 2022.
The BFSI-based segment had the largest share of the market.
Key Questions Answered
- ✅Global Market Outlook
- ✅In-depth analysis of global and regional trends
- ✅Analyze and identify the major players in the market, their market share, key developments, etc.
- ✅To understand the capability of the major players based on products offered, financials, and strategies.
- ✅Identify disrupting products, companies, and trends.
- ✅To identify opportunities in the market.
- ✅Analyze the key challenges in the market.
- ✅Analyze the regional penetration of players, products, and services in the market.
- ✅Comparison of major players’ financial performance.
- ✅Evaluate strategies adopted by major players.
- ✅Recommendations
Why Choose Market Research Future?
- ✅Vigorous research methodologies for specific market.
- ✅Knowledge partners across the globe
- ✅Large network of partner consultants.
- ✅Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- ✅Trusted by fortune 500 companies/startups/universities/organizations
- ✅Large database of 5000+ markets reports.
- ✅Effective and prompt pre- and post-sales support.
Leading companies partner with us for data-driven Insights.
