Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Networking Support Services Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The report on networking support services reveals a robust trajectory, with the market expected to grow significantly from $959.61 billion in 2024 to an impressive $1,258.81 billion by 2028. The compound annual growth rate (CAGR) is projected at 7.0%, signaling strong ongoing demand within the industry.
Contributing to this growth are pivotal factors such as the widespread adoption of cloud-based services, increasing emphasis on data privacy, compliance, and the seamless integration of advanced technologies. The emergence of hybrid work models and a collective push towards enhancing network performance are also key drivers of this expansion.
Various global trends are shaping the future of networking support services, including the deployment of 5G networks and the burgeoning Internet of Things (IoT). Companies are focusing on leveraging these technological advancements to improve customer experience and expand their international reach. Another significant trend is the move towards environmentally sustainable networking practices and tackling the growing skills gap in the industry.
Technological innovations are at the forefront of this market's evolution, with leading companies integrating advanced solutions like AI to spearhead their growth and maintain competitive dominance. These technologies are instrumental in automating network support tasks, enhancing performance efficiency, and offering proactive network management insights.
In terms of regional prominence, North America continues to lead the networking support services market as of 2023, with Asia-Pacific forecasted to emerge as the fastest-growing region. Market dynamics within key segments including LAN-as-a-service and WAN-as-a-service are extensively analyzed, providing insights into how various end-user industries are optimizing these services for banking, telecommunications, government, healthcare, and more.
The market research report provides an exhaustive analysis of the global networking support services market, outlining its size, regional breakdown, and competitive landscape while highlighting emerging trends and opportunities for stakeholders. It is a critical tool for companies operating in or looking to enter the networking support services space, offering in-depth understanding of the current and future market scenarios.
A selection of companies mentioned in this report includes
- Cisco Systems Inc.
- Verizon Communications Inc.
- AT&T Inc.
- Cloudflare Inc.
- International Business Machines Corporation
- DXC Technology Company
- Hewlett Packard Enterprise Ltd.
- Arista Networks Inc.
- NVIDIA Corporation
- Dell Inc.
- Extreme Networks Inc.
- Juniper Networks Inc.
- NetScout Systems Inc.
- Riverbed Technology LLC
- VMware Inc.
- Check Point Software Technologies Ltd.
- Palo Alto Networks Inc.
- Brocade Communications Systems
- Ciena Corporation
- Huawei Technologies Co. Ltd.
- F5 Networks Inc.
- Citrix Systems Inc.
- Infosys Limited
- Wipro Limited
- HCL Technologies Ltd.
- Tech Mahindra Pvt. Ltd.
- Tata Consultancy Services Ltd.
- Cognizant Technology Solutions Corporation
- Red Hat Inc.
- Splunk Inc.
- Proofpoint Inc.
- Symantec Corporation
For more information about this report visit https://www.researchandmarkets.com/r/bkmhcp
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