Portland, OR, July 19, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global network optimization services market generated $3.04 billion in 2020, and is estimated to garner $9.78 billion by 2028, witnessing a CAGR of 16.1% from 2021 to 2028. The report provides a detailed analysis of changing market dynamics, key segments, value chain, regional scenario, top investment pockets, and competitive landscape.
Advancements in network infrastructure and demand for VoIP Services across enterprises drive the growth of the global network optimization services market. However, considerable leaps in WAN and RAN optimization technology hinder the market growth. On the other hand, surge in the number of production facilities that improve the control of the establishment of network and information technology solutions & services present new opportunities in the coming years.
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Impact of Covid-19 on Network Optimization Services Market (Pre and Post Analysis)
- There has been increase in demand for network optimization services from government agencies and policymakers to implement AI systems, big data analytics, and data analysis software to monitor the spread in real-time, make predictions, and classify Covid-19 treatment drugs.
- Many businesses opted for a “work from home” culture and they employed best measures to ensure optimal performance and security of their network infrastructure due to increase in network threats such as data breaches and hacking.
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The report offers detailed segmentation of the global network optimization services market based on service, application, organization size, industry vertical, and region.
Based on service, the implementation segment accounted for the highest market share in 2020, contributing to more than two-fifths of the total share, and is estimated to maintain its leadership status during the forecast period. However, the consulting segment is expected to witness the largest CAGR of 18.1% from 2021 to 2028.
Based on application, the WAN optimization segment held the largest market share, accounting for around half of the global network optimization services market in 2020, and is expected to maintain its dominance in terms of revenue during the forecast period. However, the RAN optimization segment is expected to manifest the highest CAGR of 18.2% from 2021 to 2028.
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Based on region, North America contributed to the highest share in 2020, holding nearly two-fifths of the total market, and is estimated to continue its lead position by 2028. However, Asia-Pacific is expected to portray the fastest CAGR of 17.9% during the forecast period.
Leading players of the global network optimization services market analyzed in the research include Solarwinds, Huawei, Cisco Systems, ZTE, Nokia Corporation, Citrix, Infovista, Fatpipe Networks, Circadence, and Netscout Systems.
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