Luton, Bedfordshire, United Kingdom, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Network Transformation market.
Network Transformation Market are scheduled to accelerate at a high CAGR of 40% to reach above US$140 Billion by 2029
Network transformation enables businesses to automate their networks so they can quickly supply new, sophisticated services and provide customers a great user experience. This is accomplished, among other things, through the use of cloud-based services, new applications, automation technologies, and connected devices. The network transformation market offers a number of advantages, such as improved transparency and control, standardised services, quick deployment cycles, faster site connectivity that enables agile business of digital services, customer-oriented product offerings for superior user satisfaction, increased productivity in day-to-day business operations, greater network security to comply with regulatory requirements, increased cloud adoption through cloud exchanges, and more.
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The primary solutions offered in the network transformation are C-RAN, SDN & NFV, 5G networks, and network automation. The process of automating the configuration, management, testing, installation, and administration of physical and virtual network equipment is referred to as network automation. These parts are offered to both small and large businesses in a variety of sectors, including BFSI, energy and utility, government, IT and telecom, manufacturing, and retail.
Latest Innovations in Global Network Transformation Market:
- In March 2021, Cisco launched Cisco Plus, a step toward network as a service. According to Cisco, Cisco Plus will offer as-a-service models for its networking, compute, and storage hardware.
| Report Attribute/Metric | Details |
| Market Size | USD 140 Billion (2028) |
| CAGR | 40% (2022-2028) |
| Base Year | 2021 |
| Forecast Period | 2022-2028 |
| Historical Data | 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Component, By Organization Size, By Vertical |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Cisco Systems, Inc., Juniper Networks, Inc, HPE Company, IBM Corporation, Dell EMC, NEC Corporation, Intel Corporation, Nokia Networks, Ericsson, Fujitsu |
| Key Market Opportunities | · The new application architectures (for instance, microservices and containers) to help automate networks are also contributing to the market growth. · This market growth is hampered by lack of skilled workforce required for the development and integration to the existing infrastructure |
| Key Market Drivers | · The US is expected to lead the country-level market, while Canada is projected to be the fastest-growing segment during the forecast period. · The US market is expected to report the highest market share, owing to the factors such as faster adoption of advanced technologies to enhance customer experience across all types of devices |
Network Transformation Market Key Players
Top Players Include Cisco Systems, Inc., Juniper Networks, Inc, HPE Company, IBM Corporation, Dell EMC, NEC Corporation, Intel Corporation, Nokia Networks, Ericsson, Fujitsu and Others.
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Network Transformation Market Segmentation
Solution Type Segment, 2019-2028, (In USD Million)
- SDN and NFV
- C-RAN
- Network Automation
- 5G Networks
Services Segment, 2019-2028, (In USD Million)
- Managed Services
- Professional Services
End-Use Industry Segment, 2019-2028, (In USD Million)
- Telecom
- Manufacturing
- Energy and Utilities
- IT
- Media and Entertainment
- Others
Network Transformation Market Regional Insights
Due to the growing popularity of smart connected devices and the Internet of Everything, North America dominated the Network Transformation Market in 2019 and accounted for over 30% of total revenue (IoE). Innovative technology is quickly adopted in the United States. In order to increase the flexibility and manageability needed to add new network capacity and capabilities, businesses throughout the nation have introduced innovative technology solutions. Furthermore, higher budgets and incentives have inspired a number of the region's top players to make large expenditures. In the United States, the Network Transformation market has witnessed widespread applications in many industries. For instance, UBM Tech, a global media corporation with headquarters in the United States, has used network transformation solutions to improve the adaptability and management of its networking environment for Interop ITX, its flagship trade exhibition.
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