Press release
Global Network Optimisation Services Market to be Driven by the Increased Adoption by Several Industry Verticals in the Forecast Period of 2021-2026
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter's Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
Historical Market Size (2020): USD 3.13 Billion
Forecast CAGR (2021-2026): 8%
Forecast Market Size (2026): USD 7.55 Billion
The increasing use of network optimisation services in the logistics industry to improve cost-effectiveness, operational efficiency, and customer experience is boosting market growth. The rising expenses of supply chains are causing a surge in network optimisation implementation, which is also driving market growth. The popularity of e-commerce platforms like Amazon and Walmart is driving up demand for international logistics, resulting in high operational expenses.
The rising use of cutting-edge technologies in education to improve students' knowledge while also enhancing educational outcomes is driving network optimisation. Other factors such as the increasing number of branch offices and data centres, growth in usage of Internet Protocol (IP) video and virtualisation, and network optimisation as a cloud service are driving the growth of the market.
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Industry Definition and Major Segments
Network optimisation services are a collection of techniques for improving network performance. To monitor and improve network performance, a variety of network optimisation tools and techniques are employed, including bandwidth management, global load balancing, packet loss monitoring, and latency minimisation. Network optimisation services ensure the most efficient use of system resources while also increasing corporate productivity and competency.
The major services of network optimisation services are:
Implementation Services
Consulting Services
Support and Maintenance Services
Managed Services
The market can be broadly categorised on the basis of its application types into:
Local Network Optimisation
WAN Optimisation
RAN Optimisation
Data Centre Optimisation
Based on deployment model, the market is bifurcated into:
Cloud
On-Premise
By organisation size, the industry is classified into:
Small and Medium-Sized Enterprises
Large Enterprises
On the basis of industry verticals, the market is categorised into:
Banking, Financial Services, and Insurance
Telecom
Government and Defence
Transportation and Logistics
Travel and Tourism
Manufacturing
Consumer Goods and Retail
Media and Entertainment
Energy and Utilities
Healthcare and Life Sciences
Education
Information Technology
Others
On the basis of region, the industry is divided into:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Market Trends
The introduction of the 5G network has increased the demand for network optimisation, boosting the market growth. As a result, there has been a spike in the use of creative planning methods to optimise the 5G network's functionality and cost-effectiveness. The industry is being boosted by the increasing use of 3D technology to model the optimisation of the 5G network in order to reduce manual errors and improve accuracy.
In the future years, rising investments in the sector to optimise networks and expand the availability of high-speed internet connectivity are expected to drive market expansion. An increase in the number of production facilities is expected to improve the control of the establishment of network and information technology solutions and services.
Key Market Players
The major players in the market are Riverbed Technology, Inc., SolarWinds Inc., Cisco Systems, Inc., Nokia Corporation, and ZTE Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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