Network Transformation Market 2017 to 2022 projected to grow at a rate 61.9% Compound Annual Growth Rate (CAGR) and is expected to grow from $ 6.01 billion in 2017 to $ 66.86 billion by 2022.
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Network Transformation Market size is expected to grow from $ 6.01 billion in 2017 to $ 66.86 billion by 2022, at a CAGR of 61.9% during the forecast period. There is an increase in the adoption of the BYOD and remote workplace management trends.
Enterprises are motivating employees to bring their own devices to work. This trend has increased the demand for high-performing networks that can incorporate a variety of applications and connect them to heterogeneous devices.
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Network Transformation Market consists of various major vendors, such as Cisco, Juniper Networks, HPE, Huawei, IBM, Dell EMC, NEC, Intel, Nokia Networks, Ericsson, Samsung, FUJITSU, Ciena, Accenture, GENBAND, AT&T, and Arista Networks.
North America is expected to have the largest market size
North America is expected to hold the largest market share in the network transformation market during the forecast period. The growth factors include trends, such as BYOD; increasing adoption of smart connected devices; and IIoE.
Asia Pacific (APAC) is projected to grow at the highest rate during the forecast period
North America is the early adopter of new technologies. Enterprises in the region have adopted new technology solutions for enhancing the manageability and flexibility required for adding new network capabilities and capacity.
Moreover, increased budgets and grants have encouraged various leading players to make significant investments in the region.
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The collaboration among industry leaders for the development and promotion of next-generation networking solutions, rise in the adoption of ITaaS and virtualization solution in the IT industry, and the rapidly increasing demand for bandwidth are some of the factors driving the network transformation market. However, lack of skills and expertise in next-generation networking solutions is said to be the major restraining factor for the growth of this market.
The growth of SDN & NFV is attributed to the fact that it helps optimize utilization of network resources and enable network traffic engineering with an end-to-end view of the enterprise networks. SDN solution enabled cloud strategy to deliver an application in minutes instead of weeks.
It also improved network operations and enabled quick and easy access to data. Moreover, there are a number of collaborations and joint projects carried out by companies for the promotion of SDN & NFV.
SDN & NFV have been mostly deployed in data centers. However, during the forecast period, the deployment of SDN & NFV is expected to increase in branch and campus networks.
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In the process of determining and verifying the market size of several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people. The breakup of the profiles of the primary participants is as follows:
- By Company: Tier 1 – 30 %, Tier 2 – 40%, and Tier 3 – 30%
- By Designation: C-Level – 72%, Director Level – 14%, and Others – 14%
- By Region: North America – 57%, Europe – 14%, and APAC – 29%
The APAC region is expected to witness significant growth in the network transformation market. The region consists of major economies such as Australia, India, China, Japan, and Singapore.
These countries are taking aggressive initiatives to enhance their IT infrastructure enabling commercial users and telecom service providers to adopt the cutting-edge technology. China and Japan have been the forefront in deploying the network transformation solution optimization of the network across various verticals.
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Reasons to access the Report:
The network transformation market has been segmented on the basis of components (solutions and services), organization sizes, verticals, and regions.The report will help market leaders/new entrants in the network transformation market in the following ways:
- The overall network transformation market revenue stream has been estimated based on the revenues generated by vendors, offering networking solutions and services including deployment and provisioning, consulting, integration, transformation optimization, and wireless infrastructure management services, offered by professional service providers, including Managed Service Providers (MSPs). The report provides the closest approximations of the revenue numbers for the overall market and the sub-segments. The market numbers are further split into verticals and regions.
- The report helps the stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.
- The report will help the stakeholders understand the competitors and gain more insights to better their market position. The competitive landscape section includes the competitor ecosystem, new product developments, partnerships, and mergers and acquisitions.
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The report includes an in-depth competitive analysis of the key players in the network transformation market along with their company profiles, recent developments, and key market strategies. The report segments the network transformation market by component (solution and service), organization size, vertical, and region.
The report also provides detailed information about major factors influencing the growth of the network transformation market, such as the drivers, restraints, challenges, and opportunities.
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