PUBLISHER: The Business Research Company | PRODUCT CODE: 1392795
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392795
“Network Engineering Services Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on network engineering services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for network engineering services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The network engineering services market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Network engineering services encompass the planning, implementation, and management of computer networks, providing in-house phone, data, video, and wireless network services. Service providers in network engineering collaborate with consultants, telecom companies, corporations, ISPs, and others to prepare, develop, plan, and implement projects based on customer recommendations and requirements.
The primary services offered by network engineering include network assessment, network design, and network deployment. Network assessment involves a comprehensive examination of the existing IT infrastructure, providing an overview of the current environment and suggesting changes such as network consolidation, simplification, or automation. Small, medium, and large enterprises utilize both wired and wireless network engineering services for their daily operational activities. Industries benefiting from network engineering services include banking, financial services, and insurance; telecom; information technology; healthcare; education; media and entertainment; energy and utilities; manufacturing, and other sectors.
The network engineering services market research report is one of a series of new reports from The Business Research Company that provides network engineering services market statistics, including network engineering services industry global market size, regional shares, competitors with a network engineering services market share, detailed network engineering services market segments, market trends and opportunities, and any further data you may need to thrive in the network engineering services industry. This network engineering services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The network engineering services market size has grown strongly in recent years. It will grow from $53. 39 billion in 2023 to $58. 16 billion in 2024 at a compound annual growth rate (CAGR) of 9. 0%. The growth observed in the historical period can be attributed to factors such as the growth of internet usage and data traffic, the proliferation of mobile devices and connectivity, the trend towards globalization and distributed workforces, enterprise digital transformation initiatives, and the widespread adoption of cloud computing.
The network engineering services market size is expected to see rapid growth in the next few years. It will grow to $85. 49 billion in 2028 at a compound annual growth rate (CAGR) of 10. 1%. The anticipated growth in the forecast period can be attributed to the demand for skilled network engineers, the adoption of advanced network analytics, the emphasis on global connectivity and network integration, the increasing complexity of network environments, and a focus on sustainable and green networking practices. Major trends expected in the forecast period include the promotion of green networking and energy efficiency, the adoption of intent-based networking, compliance with regulatory standards, the implementation of network slicing for customized services, and an increased emphasis on remote workforce connectivity.
The growth of the network engineering services market will be driven by the increased adoption of broadband. Broadband, characterized by high-speed internet connectivity faster than traditional dial-up access, facilitates swift access to information, teleconferencing, data transfer, and various functions across sectors like healthcare, education, and technical development. Network engineering services play a crucial role in balancing security with the escalating demand for faster, more efficient, and adaptable computing. The COVID-19 pandemic, with its social distancing measures and the shift to remote work, has prompted companies to reorganize operations, leading to a surge in remote working and increased adoption of broadband. As of 2021, 81. 9% of households globally have internet access, with 83. 4% using broadband subscriptions, and in the U. S., 90% of households are subscribed to broadband, indicating a significant uptick in broadband adoption and a subsequent boost in demand for network engineering services.
The network engineering services market is experiencing growth due to the rising popularity of home automation. Home automation involves connecting everyday products over the internet through hardware, communication, and electronic interfaces, enabling remote control via smartphones or tablets. This trend expedites routine tasks, offering users enhanced comfort and convenience. Network engineering services ensure strong and consistent Wi-Fi coverage throughout homes, facilitating seamless communication among smart devices and with the central automation hub. With over 54% of U. S. households projected to have at least one smart home gadget in 2022, and similar adoption rates in the UK, Germany, and France, the increasing popularity of home automation is expected to be a driving force behind the growth of the network engineering services market.
A key trend in the network engineering market is the growing prevalence of strategic partnerships. Companies in the network engineering services sector are increasingly forming partnerships with relevant technology players to expand into new markets and leverage mutual resources. For example, L&T Technology Services Limited collaborated with Mavenir in June 2021 to deliver end-to-end 5G automation services, showcasing the industry's inclination toward strategic alliances.
Major players in the network engineering services market are focusing on developing innovative solutions to remain competitive. These solutions encompass advanced cybersecurity systems, software-defined networking (SDN) technologies, and intelligent network automation tools aimed at optimizing network performance and security. Tech Mahindra's launch of SANDSTORM in February 2023 exemplifies such innovation, providing a remote real-time network monitoring and smart device assurance service for telcos and enterprises.
In October 2021, Accenture's acquisition of Umlaut illustrates the industry's strategic moves, with Accenture aiming to scale its network engineering capabilities to help firms transform their product design, development, and production through digital technologies like cloud, artificial intelligence, and 5G, all while emphasizing sustainability. Umlaut, as a full-service company based in Germany, specializes in providing advice and network engineering services globally.
Major companies operating in the in the network engineering services market report are Accenture PLC, Telefonaktiebolaget LM Ericsson, Huawei Technologies Co. Ltd., Juniper Networks, IBM Corporation, Cyient Limited, Datavision Inc., Imagit Inc., Infosys Limited, Atisdigital, Fujitsu Limited, Netronome Systems Inc., ABB Ltd., Avaya Inc., Capgemini SE, Cisco Systems Inc., Entrust Datacard Corporation, Nokia Corporation, OpenGov, Oracle Corporattion, UTI Group, General Electric, Honeywell International Inc., Itron Inc., KAPSCH Group, Microsoft Corporation, Osram Gmbh, SAP SE, Schneider Electric SE, Siemens AG
North America was the largest region in the network engineering services market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the network engineering services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the network engineering services market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The network engineering services market includes revenues earned by entities by organizing computer networks that provide internal phone, data, video, and wireless network services. These networks are planned, put into place, and managed. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.