Network Engineering Services Market to Witness a Pronounce Growth Rate 10.1% of CAGR by 2031

Network engineering is an important emerging engineering discipline that encompasses specific features of the digital network and services. The growth of the worldwide digital network and services has increased the demand and need for engineering graduates with core digital networking skills. Furthermore, network engineering services are utilized by various organizations to maintain the connectivity of networks in terms of data, calls, voice, videos, and wireless networks.

According to the report published by Allied Market Research, the global network engineering services market garnered $43.7 billion in 2021, and is estimated to generate $111.7 billion by 2031, manifesting a CAGR of 10.1% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.

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The increasing number of connected devices, the increased requirement for new highly developed network infrastructure, and technological advancements in the field of Information and Communications Technology (ICT) drive the global network engineering services market. Based on region, North America held the largest share in 2021, contributing to more than one-third of the global network engineering services market share.

The key players profiled in the network engineering services market analysis are Cyient, Datavision, Inc., Imagit Inc, Infosys Limited, Integration International, Inc., Mphasis, PCS Technologies Inc., Sincera Consulting LLC, Softnautics, and TATA Communications. These players have adopted various strategies to increase their market penetration and strengthen their position in the network engineering services industry.

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The report provides a detailed analysis of these key players of the global network engineering services market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Covid-19 Scenario:

• The outbreak of the COVID-19 pandemic had a positive impact on the growth of the global network engineering services market, due to accelerating demand for networking services to support several crucial IT operations in verticals such as BFSI and manufacturing.

• Moreover, the increasing work-from-home trends during COVID-19 generated a need for Wi-Fi networks that use multiple nodes and can communicate with each other to seamlessly share a wireless connection within a larger area. Such factors propelled the growth of the global network engineering services market during the period.

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Based on service type, the network deployment segment held the highest share in 2021, accounting for nearly half of the global network engineering services market, and is expected to continue its leadership status during the forecast period. This segment is expected to register the highest CAGR of 13.6% from 2022 to 2031.

Based on connectivity, the wired segment accounted for the highest share in 2021, contributing to nearly two-thirds of the global network engineering services market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the wireless segment is expected to manifest the highest CAGR of 11.6% from 2022 to 2031.

Based on industry vertical, the IT and telecom segment accounted for the highest share in 2021, holding nearly one-third of the global network engineering services market, and is expected to continue its leadership status during the forecast period. However, the healthcare segment is estimated to grow at the highest CAGR of 15.5% during the forecast period.

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Region wise, the network engineering services market was dominated by North America in 2021, and is expected to retain its position during the forecast period, owing to its transforming technology and communications sector which is expected to drive the market for network engineering services within the region during the forecast period. However, Asia-Pacific is expected to witness significant growth during the network engineering services market forecast, owing to its growing digital capabilities and a highly competitive market space, which is anticipated to fuel the network engineering services market growth in the region in the coming few years.

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