At 40+% CAGR, Network Transformation Market Size Worth $175+Bn by 2028; Industry Share, Trends, Demand and Forecast

A Latest intelligence report published by The Insight Partners with title Network Transformation Market Size, Share, Growth, Trends and Forecast To 2028.

NEW YORK, UNITED STATES, November 8, 2022 /EINPresswire.com/ -- The Network Transformation Market size is expected to reach at US$ 175.34 billion by 2028 and registering at a CAGR of 40.6% between 2022 and 2028, according to a new research study conducted by The Insight Partners. The large enterprises segment held a notable share and can be expected to dominate the market through the forecast period. However, the SMEs segment is expected to be the fastest growing segment. SMEs increasingly rely on managed network service providers (MSPs) to aid their network transformation. MSPs can customize their offerings to match regional requirements and obtain distinctive growth rates. EBC Group (UK) has been focusing on tapping this growth potential and has been increasing its partnership with SMEs constantly. Demand from both SMEs and large enterprises are expected to propel the network transformation market globally.

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An International Network Transformation business report explains market definition, classifications, applications, and engagements in the market. The industry report makes available an in-depth description, competitive scenario, wide product portfolio of key vendors and business strategy adopted by competitors along with their SWOT analysis and porter's five force analysis. This wide-ranging report is the best overview about global industry perspective, comprehensive analysis, size, share, growth, segment, trends and forecast.

With organizations worldwide strongly adopting digital transformation, there is a rising requirement for improved network performance, better monitoring, and higher security. Additionally, enterprises are concerned with the cost associated with such transformation. Given the critical nature of digital transformation, coupled with the requirement for large bandwidths to enable such solutions, there is a steep demand for transformation of network from enterprises of all industry verticals. Such factors are catalyzing the network transformation market in the current times and is also foreseen to drive the network transformation market through 2028.

Some of The Key Players Covered in the Network Transformation Market are

Cisco Systems, Inc.
IBM Corporation
Juniper Networks, Inc.
Huawei Technologies Co., Ltd
Telefonaktiebolaget LM Ericsson
NEC Corporation
Dell EMC
Intel Corporation
Fujitsu Ltd.
…
Several other major network transformation market players were studied and analyzed during this research study to get a holistic view of the network transformation market and its ecosystem.

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The SDN & NFV (Software Defined Network & Network Functions Virtualization) segment held the largest market share in 2021. Software-defined wide area network (SD-WAN) has been present for over a decade now, and it definitely provides various advantages over traditional WAN. SD-WAN is often utilized as a platform for delivering additional cloud services such as security services, secure remote access, and multi-cloud connectivity. Several enterprises are considering SD-WAN over private leased lines and multi-protocol label switching (MPLS). Such factors are promoting network transformation market growth. NFV allows for virtualization of network appliance hardware, thus allowing organizations to reduce expenditure on inhouse IT infrastructure. Several macroeconomic factors across the globe have created a severely hostile environment for businesses. The pandemic caused severe disruptions, which led to huge losses for several industry verticals.

Key Segmentation: 

By Component [Solutions (SDN & NFV, RAN, 5G Networks, and Network Automation)

by Services (Professional Services and Managed Services)]

by Organization Size (SMEs and Large Enterprises), Vertical (IT, Energy & Utilities, Manufacturing, Media & Entertainment, Telecom, and Others)

The telecommunication industry has been profoundly growing over the past decade, and network transformation is not new to the industry. Growing competitiveness among telecom operators have forced enterprises to risk short-term advantage for seizing untapped growth potential. The evolution of digital-native companies, offering disruptive models of service delivery, has been strongly promoting competitiveness. Hence, telcom operators started to adopt network transformation for maintaining parity with competitors. These factors have been strongly catalyzing network transformation market growth. Adoption of machine learning (ML), artificial intelligence (AI), and big data have further fueled the network transformation market. 

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Despite growing demand for network transformation, the network transformation market is primarily restrained by the lack of skilled workforce to enable such transformation. The growing complexity of networks, coupled with rapid advancements in technology and presence of various deployment models have further increased such challenges. Hence enterprises are undertaking programs to train personnel in handling their enterprises’ digital transformation. Thus, the impact of the restraint on the network transformation market growth is expected to become low by the end of the forecast period.

The Insight Partners Network Transformation Market Research Report Scenario includes:

The report provides qualitative and quantitative trends of global Network Transformation Market across type, type of products, service, and geography.

The report starts with the key takeaways (Chapter Two), highlighting the key trends and outlook of the global Network Transformation Market.

Chapter Three provides the research methodology of the study.

Chapter Four further provides PEST analysis for each region.

Chapter Five highlights the key industry dynamics in the Network Transformation Market, including factors that are driving the market, prevailing deterrent, potential opportunities as well as future trends. Impact analysis of these drivers and restraints is also covered in this section.

Chapter Six discusses the global Network Transformation Market scenario, in terms of historical market revenues, and forecast till the year 2028.

Continued...

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