Network Engineering Services Global Market Expected to Witness $85.49 Billion with Impressive Growth at a 10.1% CAGR By 2028

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Network Engineering Services Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $85.49 billion In 2028 At A CAGR Of 10.1% :

The network engineering services market size has grown strongly in recent years. It will grow from $53.39 billion in 2023 to $58.16 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to growth of internet usage and data traffic, explosion of mobile devices and connectivity, globalization and distributed workforces, enterprise digital transformation, cloud computing adoption..

The network engineering services market size is expected to see rapid growth in the next few years. It will grow to $85.49 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to demand for skilled network engineers, adoption of advanced network analytics, global connectivity and network integration, increasing complexity of network environments, focus on sustainable and green networking.. Major trends in the forecast period include green networking and energy efficiency, adoption of intent-based networking, compliance with regulatory standards, network slicing for customized services, remote workforce connectivity..

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Network Engineering Services Market Major Segments
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

Key Driver - Increased Adoption Of Broadband To Drive Growth In Network Engineering Services Market

The increased adoption of broadband will propel the growth of the network engineering services market. Broadband attributes to high-speed internet connectivity that is always quicker than typical dial-up access. It enables high-quality and rapid access to information, teleconferencing, data transfer, and other functions in various settings, including healthcare, education, and technical development. Network engineering services create a balance between security and the rising need for computing that is fast, more effective, and more adaptable. Due to COVID-19 restrictive containment measures involving social distancing, remote working, and the closure of commercial activities, companies have rearranged their operations to initiate remote working that increased the adoption of broadband. For instance, in December 2022, according to the Information Technology and Innovation Foundation, a U.S. nonprofit public policy organisation, by 2021, 81.9% of households would have internet access, with 83.4% of that through a broadband subscription, and in the US, 90 percent of households currently subscribe to broadband. Therefore, the increase in the adoption of broadband is expected to boost demand for network engineering services during the forecast period.

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Prominent Trend - Strategic Partnership Is Gaining Popularity In The Market

Strategic Partnership is a key trend gaining popularity in the network engineering market. The companies operating in the network engineering services market are focusing on entering into a strategic partnership with relevant technology players to expand into new markets and leverage each other's resources. In June 2021, L&T Technology Services Limited, an India-based engineering services company, entered into a partnership with Mavenir to deliver end-to-end 5G automation services. Mavenir is a US-based telecommunications software company creating the future network with cloud-native software that operates on any cloud.

Network Engineering Services Market Players
Major companies operating in the network engineering services market report are Telefonaktiebolaget LM Ericsson, Huawei Technologies Co. Ltd., Juniper Networks, IBM Corporation, Cyient Limited, Datavision Inc., Imagit Inc., Infosys Limited, Atisdigital, Fujitsu Limited, Netronome Systems Inc., ABB Ltd., Avaya Inc., Capgemini SE, Cisco Systems Inc., Entrust Datacard Corporation, Nokia Corporation, OpenGov, Oracle Corporattion, UTI Group, General Electric, Honeywell International Inc., Itron Inc., KAPSCH Group, Microsoft Corporation, Osram Gmbh, SAP SE, Schneider Electric SE, Siemens AG

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Largest And Fastest Growing Region In The Market
North America was the largest region in the network engineering services market in 2023 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

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Network Engineering Services Market Report Structure
3. Network Engineering Services Market Trends And Strategies
4. Network Engineering Services Market - Macro Economic Scenario
5. Network Engineering Services Market Size And Growth
…..
27. Network Engineering Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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