The rise in demand for efficient network infrastructure and a surge in internet penetration drive the growth of the market.
PORTLAND, PORTLAND, OR, UNITED STATES, October 31, 2023 /EINPresswire.com/ — According to the report, the global network consulting services industry generated $14.7 billion in 2021, and is anticipated to generate $27.9 billion by 2031, witnessing a CAGR of 6.7% from 2022 to 2031.
Network consulting services offer full lifecycle services, from strategy and evaluation through design and deployment to continuous monitoring and maintenance, to assist customers to meet the possibilities and problems of networking infrastructure. By strategically prioritizing and connecting your networking, operational, and business demands, these network consulting services enable you to make the most of technologies like software-defined networking (SDN) and network functions virtualization (NFV).
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A surge in internet penetration, rise in consumer awareness of network consulting services and an increase in the need for flexible and upgraded network infrastructure drive the growth of the global network consulting services market. However, high server downtime and cost related to server consultancy system restrict the market growth. Moreover, the adoption of machine learning (ML) and big data analytics such as the internet of things (IoT) and artificial intelligence (AI) in rapid development in IT and wireless networking technologies are expected to present new opportunities in the coming years.
The increased adoption of network performance management in various end-use businesses is expected to boost growth in the market for network consulting services. The enhancement in network security, implementation, infrastructure agility, out-of-the-box command line interface (CLI), and utilization of seamless wireless communication networks have all been influenced by network consulting services systems.
According to network consulting services market research, the IT & telecom and BFSI segments collectively accounted for around 40.2% market share in 2021, with the former constituting around 23.6% share. The education and healthcare segments are expected to witness considerable CAGRs of 9.6% and 8.0%, respectively, during the forecast period.
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Key players profiled in the report include Accenture plc, Capgemini SE, Cisco Systems, Inc., Dell Technologies Inc., Telefonaktiebolaget LM Ericsson, Fujitsu Limited, IBM Corporation, Oracle Corporation, Hewlett Packard Enterprise Company, and Huawei Technologies Co., Ltd. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the network consulting services industry.
• The outbreak of the Covid-19 pandemic had a positive impact on the global network consulting services market, as network consulting services have become increasingly popular during the lockdown.
• Many companies and individuals have started performing remote employment since the pandemic. Businesses require the appropriate technologies to provide network infrastructure agility and security for remote working. When making any additional modifications to the network, firms may use network consulting services to identify their network risks and weaknesses.
Based on vertical, the IT and telecom segment held the highest market share in 2021, accounting for nearly one-fourth of the global network consulting services market, and is estimated to maintain its leadership status throughout the forecast period. IT & telecommunications engage in a server-based atmosphere to run their business, and protect with the aid of sophisticated network operations such as the deployment of network design & plan and network testing. This factor fuels the growth of the network consulting services market. However, the education segment is projected to manifest the highest CAGR of 9.6% from 2022 to 2031, owing to benefits such as reducing manual work and promoting automation. The rapid growth in the adoption of connected devices and rise in awareness concerning advanced technology such as AI, blockchain, big data, and cloud computing in various online learning platforms to enhance education facilities drives the growth of the market.
Based on type, the network designing & planning segment held the highest market share in 2021, accounting for more than three-fifths of the global network consulting services market, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the same segment is projected to manifest the highest CAGR of 7.2% from 2022 to 2031. The widespread acceptability of superior network planning and design that are cost-effective and have higher connectivity performance has motivated the network consulting services market to expand.
Based on organization size, the large enterprise segment accounted for the largest share in 2021, contributing to around three-fourths of the global network consulting services market, and is projected to maintain its lead position during the forecast period. Moreover, the same segment is expected to portray the largest CAGR of 7.3% from 2022 to 2031, as large enterprises can deploy network consulting services depending on the network infrastructure, organization’s business functioning, and quality requirements.
Region-wise, Asia-Pacific held a significant global network consulting services market share, due to the region’s expanding 5G and wireless connectivity penetration, China currently dominates the regional market for Asia-Pacific. The main drivers of the growth of the network consulting services market size is in Asia-Pacific are the rapid advancements in the network as a service (NaaS) technology and the rise in awareness for personalized network design and planning. Moreover, rapid urbanization and an increase in ICT to enhance the network infrastructure and streamline technological network performance management are the primary factors that drive the growth of the network consulting services industry in Asia-Pacific, North America, and Europe.
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