What Transformation Has the Network Engineering Services Market Undergone?
The network engineering services market has seen considerable growth due to a variety of factors.
• In recent times, the network engineering services market has witnessed significant expansion. It is foreseen to progress from a value of $56.85 billion in 2024 to reach $61.27 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.8%.
The previous growth can be linked to factors such as the surge in internet usage and data traffic, the rapid increase in mobile devices and connectivity, the impact of globalization and dispersed workforces, the digital transformation of enterprises, and the widespread adoption of cloud computing.
How Will The Network Engineering Services Market Size Evolve In The Foreseeable Future?
The network engineering services market is expected to maintain its strong growth trajectory in upcoming years.
• A significant increase is anticipated in the network engineering services market over the next few years, with projections indicating it will reach $96.94 billion by 2029, growing at a compound annual growth rate (CAGR) of 12.2%.
The expansion predicted in this timeframe can be linked to the rising demand for proficient network engineers, the implementation of high-level network analytics, worldwide connectivity and network integration, the growing intricacy of network environments, and a concentration on sustainable and environmentally-friendly networking. Green networking and energy efficiency, the embrace of intent-based networking, adherence to regulatory standards, the use of network slicing for tailor-made services, and connectivity for remote workforces are all expected to be significant trends in the forecast period.
Which Key Drivers Are Propelling The Network Engineering Services Market's Growth?
The growth of the network engineering services market is predicted to be driven by the rising utilization of broadband. Normally faster than traditional dial-up, broadband provides high-speed internet connectivity, allowing swift access to data, teleconferencing and other essential operations across fields such as healthcare, education, and tech development. Network engineering services reconcile the necessity for quick, efficient, and flexible computing with security concerns. The COVID-19 pandemic and ensuing measures such as social distancing, remote working, and the shutting down of businesses have prompted companies to adjust their operations, encouraging remote working which in turn has increased broadband adoption. For example, a report by the UK Parliament's House of Commons Library, in July 2023, revealed that by January 2023, the accessibility of gigabit-capable broadband had increased to 72% from 64% in the preceding year in UK premises. Consequently, this suggests that the rising adoption of broadband will likely heighten the demand for network engineering services during the projected period.
What Are The Key Segments Within The Global Network Engineering Services Market?
The network engineering services market covered in this report is segmented –
1) By Service Type: Network Assessment, Network Design, Network Deployment
2) By Transmission Mode: Wired, Wireless
3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
4) By Industry Vertical: Banking, Financial Services, And Insurance (BFSI), Telecom, Information Technology, Healthcare, Education, Media And Entertainment, Energy And Utilities, Manufacturing, Other Industry Verticals
Subsegments:
1) By Network Assessment: Current Network Performance Evaluation, Security Assessment, Capacity Planning, Compliance Assessment
2) By Network Design: Logical Network Design, Physical Network Design, High-Level Design (HLD), Low-Level Design (LLD)
3) By Network Deployment: Installation And Configuration Services, Migration Services, Testing And Validation Services, Documentation Services
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How Are New Trends Impacting The Size Of The Network Engineering Services Market?
Leading firms in the network engineering services market are concentrating on technological advancements, like Daisy, to improve collaboration, simplify project management, and enhance content creation efficiency. Daisy, an invention by CreatorUp, acts as a facilitator for content creation, offering mechanisms for managing projects, allocating resources, and automating workflows. This innovation improves teamwork and efficiency. In April 2023, US-based company CreatorUp is focused on strengthening content creators and brands with cutting-edge tools and collaborative platforms. Daisy stands out as the premier AI content creation platform, fusing sophisticated AI instruments with the human touch. This allows creators to maintain high content quality and efficiency, preserving the uniqueness and subtlety that only human input can deliver.
Who Are the Key Players in the Network Engineering Services Market?
Major companies operating in the network engineering services market include:
• Accenture PLC
• Telefonaktiebolaget LM Ericsson
• Huawei Technologies Co. Ltd.
• Juniper Networks
• IBM Corporation
• Cyient Limited
• Datavision Inc.
• Imagit Inc.
• Infosys Limited
• Atisdigital
• Fujitsu Limited
• ABB Ltd.
• Avaya Inc.
• Capgemini SE
• Cisco Systems Inc.
• Nokia Corporation
• OpenGov
• Oracle Corporation
• UTI Group
• General Electric
• Honeywell International Inc.
• Itron Inc.
• KAPSCH Group
• Microsoft Corporation
• SAP SE
• Schneider Electric SE
• Siemens AG
What are the Regional Insights into the Network Engineering Services Market?
North America was the largest region in the network engineering services market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the network engineering services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
