Press release
Next-Generation Network Market Strategies 2024-2033 | Size, Insights, Demand, Outlook
Next-Generation Network Market Strategies
According to The Business Research Company's, The next-generation network market size has grown strongly in recent years. It will grow from $30.31 billion in 2023 to $33.12 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to increasing data consumption, demand for higher bandwidth, emergence of smartphones and mobile devices, regulatory changes.
The next-generation network market size is expected to see strong growth in the next few years. It will grow to $46.07 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to 5G rollout and adoption, internet of things (IoT) proliferation, edge computing integration, virtualization and software-defined networking (SDN), demand for low-latency applications. Major trends in the forecast period include increased network automation, growth of network slicing for customized services, expansion of private 5G networks, rise of network security as a service (SECaaS), convergence of telecommunications and IT infrastructure.
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Market Drivers and Trends:
The rising 5G penetration is expected to propel the growth of the next-generation network market going forward. 5G refers to the fifth generation of mobile network technology, offering faster data speeds, lower latency, increased capacity, and support for a wide range of applications and connected devices compared to previous generations. The penetration of 5G is due to the rising demand for high-speed connectivity, the emergence of new technologies, and competitive dynamics among telecommunications companies and mobile network operators. The rising influence of 5G technology accelerates developing and deploying next-generation networks to deliver advanced services, support emerging technologies, and drive innovation across various sectors. For instance, according to 5G Americas, a US-based wireless industry trade association that focuses on the advancement and deployment of 5G wireless technologies, global 5G wireless connections experienced a significant surge, increasing by 76% from the end of 2021 to the end of 2022, reaching a total of 1.05 billion. Projections indicate that this number is expected to skyrocket further, reaching an estimated 5.9 billion by the end of 2027. Therefore, the rising 5G penetration is driving the next-generation network market.
Major companies operating in the next-generation network market are focused on developing innovative products with advanced technologies, such as HPE Aruba Networking Central, to increase their profitability in the market. HPE Aruba Networking Central is crucial in enabling next-generation networks to meet the growing demands for speed, reliability, and scalability in today's digital world. For instance, in April 2023, Hewlett Packard Enterprise, a US-based information technology company, introduced HPE Aruba Networking Central. HPE Aruba Networking Central is a cloud-native network management solution designed to simplify network operations and improve productivity for enterprise IT teams. It leverages artificial intelligence for IT operations (AIOps) to reduce manual tasks, allowing networking teams to focus on more strategic projects. The platform features an operator-centric design, time-travel capabilities for network recovery, multi-layer topology visualization, intelligent assurance indicators, and AI-powered insights for root cause analysis and recommendations.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Samsung Electronics Co. Ltd., Microsoft Corporation, AT&T Inc., Huawei Technologies Co. Ltd., IBM Corporation, Oracle Corporation, Cisco Systems Inc., Broadcom Inc., Infradata Group, NEC Corporation, Nokia Corporation, ZTE Corporation, Hewlett Packard Enterprise Development LP, Juniper Networks Inc., Ciena Corporation, Mavenir Systems Inc., Tata Communications Limited, AsiaInfo Technologies Limited, ADTRAN Inc., EXFO Inc., Ascom Holding AG, Extreme Networks, Inc., AVOTUS Corporation, TelcoBridges, TELES AG, KPN International B.V.
Next-Generation Network Market 2024 Key Insights:
• The Next-Generation Network Market is expected to grow to $46.07 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%.
• 5G Penetration Driving Growth In Next-Generation Network Market
• Innovative Products And AI-Driven Operations
• Asia-Pacific was the largest region in the next-generation network market in 2023. The regions covered in the next-generation network market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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