Next-Generation Network Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The next-generation network market size has grown strongly in recent years. It will grow from $30.31 billion in 2023 to $33.12 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to increasing data consumption, demand for higher bandwidth, emergence of smartphones and mobile devices, regulatory changes.
The next-generation network market size is expected to see strong growth in the next few years. It will grow to $46.07 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to 5G rollout and adoption, internet of things (IoT) proliferation, edge computing integration, virtualization and software-defined networking (SDN), demand for low-latency applications. Major trends in the forecast period include increased network automation, growth of network slicing for customized services, expansion of private 5G networks, rise of network security as a service (SECaaS), convergence of telecommunications and IT infrastructure.
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Scope Of Next-Generation Network Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Next-Generation Network Market Overview
Market Drivers –
The rising 5G penetration is expected to propel the growth of the next-generation network market going forward. 5G refers to the fifth generation of mobile network technology, offering faster data speeds, lower latency, increased capacity, and support for a wide range of applications and connected devices compared to previous generations. The penetration of 5G is due to the rising demand for high-speed connectivity, the emergence of new technologies, and competitive dynamics among telecommunications companies and mobile network operators. The rising influence of 5G technology accelerates developing and deploying next-generation networks to deliver advanced services, support emerging technologies, and drive innovation across various sectors. For instance, according to 5G Americas, a US-based wireless industry trade association that focuses on the advancement and deployment of 5G wireless technologies, global 5G wireless connections experienced a significant surge, increasing by 76% from the end of 2021 to the end of 2022, reaching a total of 1.05 billion. Projections indicate that this number is expected to skyrocket further, reaching an estimated 5.9 billion by the end of 2027. Therefore, the rising 5G penetration is driving the next-generation network market.
Market Trends –
Major companies operating in the next-generation network market are focused on developing innovative products with advanced technologies, such as HPE Aruba Networking Central, to increase their profitability in the market. HPE Aruba Networking Central is crucial in enabling next-generation networks to meet the growing demands for speed, reliability, and scalability in today’s digital world. For instance, in April 2023, Hewlett Packard Enterprise, a US-based information technology company, introduced HPE Aruba Networking Central. HPE Aruba Networking Central is a cloud-native network management solution designed to simplify network operations and improve productivity for enterprise IT teams. It leverages artificial intelligence for IT operations (AIOps) to reduce manual tasks, allowing networking teams to focus on more strategic projects. The platform features an operator-centric design, time-travel capabilities for network recovery, multi-layer topology visualization, intelligent assurance indicators, and AI-powered insights for root cause analysis and recommendations.
The next-generation network market covered in this report is segmented –
1) By Offering: Software, Hardware, Services
2) By Application: Internet, Video, File Sharing And Web Data, IPTV And Video On Demand, Gaming, Other Applications
3) By End User: Internet Service Providers, Telecom Service Providers, Government, Other End Users
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Regional Insights –
Asia-Pacific was the largest region in the next-generation network market in 2023. The regions covered in the next-generation network market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the next-generation network market are Samsung Electronics Co. Ltd., Microsoft Corporation, AT&T Inc., Huawei Technologies Co. Ltd., IBM Corporation, Oracle Corporation, Cisco Systems Inc., Broadcom Inc., Infradata Group, NEC Corporation, Nokia Corporation, ZTE Corporation, Hewlett Packard Enterprise Development LP, Juniper Networks Inc., Ciena Corporation, Mavenir Systems Inc., Tata Communications Limited, AsiaInfo Technologies Limited, ADTRAN Inc., EXFO Inc., Ascom Holding AG, Extreme Networks, Inc., AVOTUS Corporation, TelcoBridges, TELES AG, KPN International B.V.
Table of Contents
- Executive Summary
- Next-Generation Network Market Report Structure
- Next-Generation Network Market Trends And Strategies
- Next-Generation Network Market – Macro Economic Scenario
- Next-Generation Network Market Size And Growth
…..
- Next-Generation Network Market Competitor Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
- Appendix
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