“Networking Support Services Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on networking support services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Where is the largest and fastest growing market for networking support services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The networking support services market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Scope
Markets Covered:
- 1) By Type: LAN-as-a-Service; WAN-as-a-Service
- 2) By Deployment Type: On-Premise; Cloud
- 3) By Organization Size: Small And Medium Enterprises(SMEs); Large Enterprises
- 4) By End-User Industry: Banking, Financial Services And Insurance (BFSI); IT And Telecommunication; Government And Public Sector; Healthcare And Life Sciences; Manufacturing; Retail And Consumer Goods; Transportation And Logistics; Other End-User Industries
- Companies Mentioned: Cisco Systems Inc.; Verizon Communications Inc.; AT&T Inc.; Cloudflare Inc.; International Business Machines Corporation
- Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
- Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
- Delivery format: PDF, Word and Excel Data Dashboard.
Executive Summary
A networking support service pertains to a service dedicated to maintaining an existing business network. Its focus lies in facilitating easier system updates, ensuring the security of business data, and mitigating the cost associated with investing in cutting-edge technology.
The primary types of networking support services include LAN-as-a-service and WAN-as-a-service. LAN as a service involves a cloud-based service designed for the establishment and management of distribution facilities, encompassing wired and local radio stations. Its purpose is to offer security, reliability, visibility, and monitoring of network connections to ensure all devices are interconnected and operating optimally. These services cater to organizations of various sizes, including small and medium enterprises (SMEs) and large enterprises, deploying services through different modes such as on-premise and cloud. The end-user industries that benefit from these services span banking, financial services and insurance (BFSI), IT and telecommunications, government and public sector, healthcare and life sciences, manufacturing, retail, consumer goods, transportation and logistics, among others.
The networking support services market research report is one of a series of new reports from The Business Research Company that provides networking support services market statistics, including networking support services industry global market size, regional shares, competitors with networking support services market share, detailed networking support services market segments, market trends, and opportunities, and any further data you may need to thrive in the networking support services industry. This networking support services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The networking support services market size has grown steadily in recent years. It will grow from $919.09 billion in 2023 to $959.61 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The expansion observed during the historical period can be attributed to several factors, including the growing complexity of network infrastructures, increased reliance on digital communication, heightened concerns about security and cyber threats, the expansion of businesses and globalization, and the evolution of work practices, particularly the rise of remote collaboration.
The networking support services market size is expected to see strong growth in the next few years. It will grow to $1258.81 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The anticipated growth in the forecast period can be attributed to various factors, including the widespread adoption of cloud-based services, a heightened emphasis on data privacy and compliance, the integration of advanced technologies, a shift towards hybrid work models, and a focused effort on optimizing network performance. Key trends expected in the forecast period encompass the implementation of 5G and the expansion of the Internet of Things (IoT), an increased focus on enhancing customer experience, the globalization and cross-border networking of businesses, initiatives promoting environmentally-friendly or green networking practices, and addressing challenges related to skills shortage and training needs.
The anticipated increase in demand for cloud-based solutions is set to drive the growth of the networking support services market. Cloud-based solutions, characterized by on-demand computing resources delivered over the Internet on a pay-per-use basis, play a crucial role in networking support services. These solutions offer organizations the necessary management, visibility, and scalability to operate distributed cloud and on-premises networks, enhancing security and location infrastructure. A report by Thales Group in 2022 revealed that approximately 98% of corporations store at least some of their data in the cloud, with an estimated 60% of all corporate data residing in cloud storage. Additionally, Gartner reported that about 48% of tech companies invested in cloud computing technology innovations in 2021. Thus, the growing demand for cloud-based solutions is a significant driver behind the expansion of the networking support services market.
The increasing adoption of artificial intelligence (AI) is expected to contribute to the growth of the networking support services market. AI adoption involves integrating AI technologies into existing organizational systems, processes, and workflows. AI plays a crucial role in automating tasks, optimizing performance, and providing proactive insights, leading to a more intelligent and responsive approach to networking support. A report by International Business Machines Corporation (IBM) in May 2022 indicated a significant global increase in AI adoption, reaching 35%, up four points from the previous year. The adoption of AI is projected to increase by 13% from 2021 to 2022, with 35% of organizations reporting its use, 42% considering AI adoption, and 66% planning to utilize AI to meet sustainability goals. Consequently, the growing adoption of AI is a driving force behind the growth of the networking support services market.
Technological advancements represent a noteworthy trend in the networking support services market, with major companies adopting new technologies to maintain their market positions. In March 2023, Ciena, a US-based telecommunications networking equipment and software services provider, introduced Colt Technology Services (Colt), a technology offering greater adaptability, adjustability, and full programmability. The Colt IQ Network aims to provide on-demand, high-bandwidth connectivity with features such as Zero-Touch Provisioning (ZTP), network auto-discovery, and real-time network tracking and accessibility, simplifying implementation, processes, and troubleshooting.
Major players in the networking support services market are actively engaging in strategic partnerships to develop their services and gain a competitive edge. Such partnerships involve collaborations between networking support service providers, technology companies, and other entities to enhance service offerings, expand market reach, and drive innovation. For instance, in August 2022, Ericsson, a Sweden-based networking and telecommunications company, collaborated with Vodafone, an India-based mobile operator network company, to develop a preemptive support service for private 5G networks. This service utilizes machine learning (ML) and artificial intelligence (AI) to ensure smooth operations at the Foxconn plant in Komarom, Hungary. The unique 5G network support service is customized to meet the needs of Vodafone business clients, including Foxconn, the world's largest electronics manufacturer. This collaboration aims to provide technical support and seamless network operations through a specialized service called Service Continuity for private networks.
In January 2021, Logically, a US-based provider of managed IT services to small and midsize organizations, acquired Network Support Co. for an undisclosed amount. This acquisition allows Logically to expand its footprint, services, and industry leadership in the realm of networking support services. Network Support Co., a US-based company, provides networking support services such as IT support to manage and maintain its clients' IT systems.
Major companies operating in the networking support services market report are 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 .
North America was the largest region in the networking support service market in 2023. Asia-Pacific is expected to be the fastest-growing region in the networking support services market report during the forecast period. The regions covered in the networking support services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the networking support services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The networking support services market includes revenues earned by entities by providing cloud backup services, VoIP (Voice Over Internet Protocol), monitoring services, data backup and restoration, firewall services and network connectivity. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.