The Network Engineering Services by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Network Engineering Services , 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 in the historic period can be attributed to growth of internet usage and data traffic, explosion of mobile devices and connectivity, globalization and distributed workforces, enterprise digital transformation, cloud computing adoption..
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 growth in the forecast period can be attributed to demand for skilled network engineers, adoption of advanced network analytics, global connectivity and network integration, increasing complexity of network environments, focus on sustainable and green networking.. Major trends in the forecast period include green networking and energy efficiency, adoption of intent-based networking, compliance with regulatory standards, network slicing for customized services, remote workforce connectivity..
The increased adoption of broadband will propel the growth of the network engineering services market. Broadband attributes to high-speed internet connectivity that is always quicker than typical dial-up access. It enables high-quality and rapid access to information, teleconferencing, data transfer, and other functions in various settings, including healthcare, education, and technical development. Network engineering services create a balance between security and the rising need for computing that is fast, more effective, and more adaptable. Due to COVID-19 restrictive containment measures involving social distancing, remote working, and the closure of commercial activities, companies have rearranged their operations to initiate remote working that increased the adoption of broadband. For instance, in December 2022, according to the Information Technology and Innovation Foundation, a U.S. nonprofit public policy organisation, by 2021, 81.9% of households would have internet access, with 83.4% of that through a broadband subscription, and in the US, 90 percent of households currently subscribe to broadband. Therefore, the increase in the adoption of broadband is expected to boost demand for network engineering services during the forecast period.
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The network engineering services market covered in this report is segmented –
1) Network Engineering Services Market By Service Type: Network Assessment, Network Design, Network Deployment
2) Network Engineering Services Market By Transmission Mode: Wired, Wireless
3) Network Engineering Services Market By Organization Size: Large Enterprises, Small and Medium-sized Enterprises (SMEs)
4) Network Engineering Services Market By Industry Vertical: Banking, Financial Services, and Insurance (BFSI), Telecom, Information Technology, Healthcare, Education, Media and Entertainment, Energy and Utilities, Manufacturing, Other Industry Verticals
Top Major Players
Telefonaktiebolaget LM Ericsson
Strategic Partnership is a key trend gaining popularity in the network engineering market. The companies operating in the network engineering services market are focusing on entering into a strategic partnership with relevant technology players to expand into new markets and leverage each other’s resources. In June 2021, L&T Technology Services Limited, an India-based engineering services company, entered into a partnership with Mavenir to deliver end-to-end 5G automation services. Mavenir is a US-based telecommunications software company creating the future network with cloud-native software that operates on any cloud.
The network engineering services market report table of contents includes:
1. Executive Summary
2. Network Engineering Services Market Characteristics
3. Network Engineering Services Market Trends And Strategies
4. Network Engineering Services Market – Macro Economic Scenario
5. Global Network Engineering Services Market Size and Growth
……
31. Global Network Engineering Services Market Competitive Benchmarking
32. Global Network Engineering Services Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Network Engineering Services Market
34. Network Engineering Services Market Future Outlook and Potential Analysis
35. Appendix
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