The global network engineering services market size is expected to reach USD 99.3 billion by 2030, according to a new study by Polaris Market Research. The report “Network Engineering Services Market Share, Size, Trends, Industry Analysis Report, By Service Type; By Transmission Mode (Wired, Wireless); By Organization Size; By Vertical; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides an analysis of future market growth.
The advancements in technology and automation change the aspects of every business. Networks play an essential role in every organization. Thus, the rising need for secure & reliable network infrastructure across various end-use industries is propelling the market growth. Furthermore, the increasing adoption of broadband enables rapid access to information and transfer of high-quality data, which has a wide application across the telecommunication, education, and healthcare industry and is likely to complement the market growth.
Moreover, with the emerging trend of 5G, artificial intelligence and Wi-Fi has increased the investment of various key players to implement such cutting-edge technologies. Additionally, many players collaborate to deliver these services to customers and enterprises. For instance, L&T technology services Ltd. partnered with Mavenir to offer end-to-end 5G automation services that include continuous integration of the 5G ORAN portfolio, which is expected to propel the market growth.
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In addition, the growth in network traffic and the rising need to support technological demand influence market growth. Additionally, increasing demand for well-established network infrastructure, a growing number of connected devices, and technological advancement in ICT solutions fuel market growth. Moreover, the adoption of IoT devices and the evolution of communication space across developed and developing nations also support market growth.
The COVID-19 pandemic significantly impacted the demand for network engineering services as many businesses were shifted from offices to remote workplaces, which increased the demand for broadband services. Moreover, there was a considerable increase in network providers during the pandemic hit, which eventually influenced the market growth.
Network Engineering Services Market Report Highlights
- The growing demand for the wireless segment is due to the accessibility of data from anywhere within the connection range, eventually enhancing productivity. Moreover, this transmission mode provides secured, robust, and high-performance network connectivity, expected to drive market growth.
- Small and medium-sized enterprises (SMEs) will grow significantly over the forecast timeline owing to the increasing penetration of cost-efficient network providers. SMEs tend to adopt less expensive solutions and deal with the complexities in business operations, which will lead to the growing demand for network administration.
- BFSI is expected to spearhead revenue growth by increasing the utilization of various APIs for minimal to heavy transactions. In addition, banking makes its services accessible to customers for their problems and instant resolution, which is expected to propel the market.
- Asia Pacific is expected to proliferate over the forecast period due to the increasing adoption of smart devices and broadband services. Moreover, the globalization of entertainment media in Japan is creating lucrative opportunities to increase revenue growth in this region.
- Major players operating in the industry include Accenture, Advance Digital Systems, AT &T, Aviat Networks, CHR Solutions, Cisco Systems, CODETRU, CSS Group, Cyient, Datavision, Ericsson, Fujitsu, HCL Technologies, Huawei, Hughes Systique, and IBM Corporation.
Polaris Market Research has segmented the network engineering services market report based on service type, transmission mode, organization size, vertical, and region:
Network Engineering Services, Service Type Outlook (Revenue – USD Billion, 2018 – 2030)
- Network Assessment
- Network Design
- Network Deployment
Network Engineering Services, Transmission Mode Outlook (Revenue – USD Billion, 2018 – 2030)
Network Engineering Services, Organization Size Outlook (Revenue – USD Billion, 2018 – 2030)
- Large Enterprises
Network Engineering Services, Vertical Outlook (Revenue – USD Billion, 2018 – 2030)
- Banking, Financial Services, and Insurance
- Energy and Utilities
- Media And Entertainment
Network Engineering Services, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa