PUBLISHER: The Business Research Company | PRODUCT CODE: 1425669
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425669
Network Optimization 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 network optimization 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.
Where is the largest and fastest growing market for network optimization services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The network optimization 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.
The realm of network optimization services encompasses a range of technologies, strategies, and optimal practices aimed at monitoring, sustaining, and enhancing network performance. Its core objective lies in elevating network efficiency while ensuring cost-effectiveness in design and performance.
The network optimization services include the primary offerings that revolve around implementation, consulting and support, and ongoing maintenance. Implementation involves a strategic amalgamation of financial resources, technological advancements, and capacity building, fostering inclusive globalization, regional integration, and a conducive national business environment. Deployment options span on-premises setups as well as cloud-based solutions, catering to diverse enterprises ranging from small and medium-sized to large-scale organizations. Applications of these services span various optimization domains such as local network optimization, WAN optimization, RAN optimization, and data center optimization. This versatility extends across multiple industry verticals, encompassing IT and telecom, BFSI, government and defense, transportation and logistics, manufacturing, consumer goods and retail, media and entertainment, energy and utility, healthcare and life sciences, and education.
The network optimization services market research report is one of a series of new reports from The Business Research Company that provides network optimization services market statistics, including network optimization services industry global market size, regional shares, competitors with a network optimization services market share, detailed network optimization services market segments, market trends and opportunities, and any further data you may need to thrive in the network optimization services industry. This network optimization services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The network optimization services market size has grown rapidly in recent years. It will grow from $6.75 billion in 2023 to $7.73 billion in 2024 at a compound annual growth rate (CAGR) of 14.4%. The growth observed in the historical period is linked to several factors, including the escalating complexity of networks, increased volumes of data traffic, the evolution of mobile networks, a surging demand for faster connectivity, the globalization of businesses, and a pronounced focus on enhancing customer experience.
The network optimization services market size is expected to see rapid growth in the next few years. It will grow to $13.74 billion in 2028 at a compound annual growth rate (CAGR) of 15.5%. The anticipated growth in the forecasted period stems from the evolution of the cybersecurity landscape, optimization of remote work infrastructure, increasing demands for application performance, prioritizing enhanced Quality of Service (QoS), and the evolving landscape of regulatory compliance.
The expansion in the number of data centers is anticipated to drive the growth of the network optimization services market in the foreseeable future. A data center, a facility comprising interconnected computers, storage systems, and computational infrastructure, serves the purpose of collecting, analyzing, storing, and disseminating vast amounts of data. Network optimization services play a pivotal role in enhancing network virtualization, traffic balancing, and reducing unnecessary control traffic within these infrastructures. As per CloudScene data from May 2021, it's estimated that approximately 2.6K data centers will be spread across the United States. Globally, as of January 2021, there were about 8K data centers across 110 countries, with around 64% located in NATO nations and 77% in OECD members. This surge in data centers is thus fueling the expansion of the network optimization services market.
The ascent of cybersecurity concerns is projected to propel the growth of the network optimization services market moving forward. These concerns encompass the protection of computer systems, networks, and data from theft, unauthorized access, damage, or cyber threats. Network optimization services typically integrate security measures aimed at bolstering network resilience against cyberattacks, thereby enhancing overall network integrity. For instance, in 2022, Packetlabs reported that 79% of financial CISOs acknowledged an annual increase in sophisticated cyberattacks by threat actors. Consequently, the escalating cybersecurity apprehensions are a driving force behind the growth of the network optimization services market.
The integration of advanced technologies emerges as a prominent trend gaining traction within the network optimization services market. Key industry players are leveraging advanced technologies to fortify their positions in this domain. For example, Nokia introduced the world's premier AI technology use case library for telecom operators on the public cloud in May 2021. This innovation aims to securely streamline network operations, optimizing coverage, capacity, and performance. Employing AI technology and analytics, Nokia's AVA AI as a service ensures top-tier, preemptive problem resolution for subscribers, boasting features such as precise anomaly detection and a 50% reduction in radio frequency optimization cycle times. This service, hosted on Microsoft Azure's public cloud, combines telco-grade security with scalable architecture, augmenting efficiency, reducing energy consumption, and enhancing customer experience.
In February 2021, Ericsson, a Swedish telecommunications company, partnered with XL Axiata to launch a Network Optimization Service across Indonesia's regions. This service leverages Ericsson's AI-powered Cognitive Software, a multi-vendor, multi-technology big data platform designed for scalability and superior performance. This platform is instrumental in enhancing network experiences, optimizing operational expenses, fostering customer loyalty, and improving EBITDA by seamlessly integrating modules across the network lifecycle.
In February 2023, Circet, a US-based network services provider, acquired Further Enterprise Solutions (FES) to expand Circet / KGP Services' wireless capabilities. FES, a US-based provider in RF Engineering & Optimization, Installation & Commissioning, Staff Augmentation, and Decommissioning Services for the wireless communications industry, strengthens Circet's end-to-end wireless services offering.
Major companies operating in the network optimization services market report are SolarWinds Corporation, Array Networks Inc., Cisco Systems Inc., Citrix Systems Inc., FatPipe Networks Inc., Huawei Technologies Company Limited, Infovista Ltd., Juniper Networks Inc., NetScout Systems Inc., Nokia Corporation, PC Connection Inc., Riverbed Technology Inc., TEOCO Corporation, Verizon Communications Inc., ZTE Corporation, A10 Networks Inc., Akamai Technologies Inc., Alcatel-Lucent Enterprise SAS, ALE International SA, Symantec Corp., Ciena Corp., Dell Technologies Inc., Telefonaktiebolaget LM Ericsson, Extreme Networks Inc., F5 Networks Inc., Fortinet Inc., Gigamon Inc., Hewlett Packard Enterprise Co., InfoBlox Inc., Masergy Communications Inc., Palo Alto Networks Inc., Radware Inc., Silver Peak Systems Inc., Vmware Inc., Zscaler Inc.
North America was the largest region in the network optimization services market in 2023. The regions covered in the network optimization services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the network optimization services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The network optimization services market includes revenues earned by entities by providing QoS prioritization, load balancing, and payload compression techniques for network optimization. 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.