Network Transformation Market Research 2024 - Outlook, Overview And Forecast To 2033

"The Business Research Company recently released a comprehensive report on the Global Network Transformation Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The network transformation market size has grown exponentially in recent years. It will grow from $59.57 billion in 2023 to $92.2 billion in 2024 at a compound annual growth rate (CAGR) of 54.8%. The growth in the historic period can be attributed to legacy infrastructure, bandwidth demand, security concerns, cost reduction, cost reduction.

The network transformation market size is expected to see exponential growth in the next few years. It will grow to $511.59 billion in 2028 at a compound annual growth rate (CAGR) of 53.5%. The growth in the forecast period can be attributed to remote workforce, supply chain resilience, network automation, digital transformation, competitive pressure. Major trends in the forecast period include edge computing, artificial intelligence (ai) and machine learning, 6g and beyond, cloud adoption, internet of things (iot).

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Market Drivers and Trends:

The growing adoption of bring your own device (BYOD) policy in companies is expected to propel the growth of the network transformation market. BYOD policy is when employees connect to the organization's network and access what they need to complete their tasks using their personal devices such as smartphones, tablets, computers, laptops, and others. Network transformation helps reconstruct network architecture when companies want to change their network infrastructure based on employees' devices. According to Cisco, 89% of IT departments enable BYOD in some form and 69% of IT leaders are positive about BYOD. Therefore, the growing adoption of BYOD policy in companies is expected to drive the network transformation market.

Adoption of artificial intelligence (AI) is a key trend in the network transformation market. Next-generation cloud networks are vital for growth, and digitally modernizing the network infrastructure to become more open, frictionless, and efficient is critical for retaining that growth. As data and networks become more commercialized, telecommunications companies seek ways to save money and innovate wherever feasible. Telecommunications operators are using AI to study and forecast network disruptions before they occur, reducing response times and interruptions in service. In February 2021, Ericsson, a US-based telecommunication company, launched two new artificial intelligence (AI)-powered services to its network services portfolio-Network Intelligence and Omni Network Channel, allowing communications service providers to secure always-on networks and create optimal user experiences.

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Major Key Players of the Market:

International Business Machines Corporation, Fujitsu Ltd., Dell EMC, Ciena Corporation, Hewlett Packard Enterprise Company, Cisco Systems Inc., Juniper Networks Inc., Huawei Technologies Co. Ltd., NEC Corporation, Intel Corporation, Nokia Corporation, Telefonaktiebolaget LM Ericsson, Samsung Group, VMware Inc., Aryaka Networks Inc., Citrix Systems Inc., CenturyLink, Silver Peak Systems Inc., ZTE Corporation, ALE International SAS, BT Group plc, Cato Networks, Colt Technology Services Group Limited, Comarch SA, Coriant GmbH, CSG International, ECI Telecom, Infosys Limited, Fortinet Inc., Broadcom Inc., AT&T Inc.,plc

Network Transformation Market 2024 Key Insights:

• The network transformation market size is expected to see exponential growth in the next few years. It will grow to $511.59 billion in 2028 at a compound annual growth rate (CAGR) of 53.5%.
• Companies Embrace Employee Devices, Fueling Network Transformation Market Growth
• Ai Revolutionizes Network Transformation
• North America was the largest region in the network transformation market in 2023 and is also expected to be the fastest-growing region in the forecast period

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