Press release
Global Networking Support Services Market to Reach $1320.26 Billion by 2029, Growing at 8% CAGR
Networking Support Services Market Share
The networking support services market is projected to experience growth due to the escalating demand for cloud-based solutions. Essentially, these cloud-based services offer on-demand computing resources through the internet, allowing users to leverage as many resources as they need and pay for their usage. In the backdrop of networking support services, these cloud-based solutions furnish organizations with the management, visibility, and scalability required to run distributed cloud and on-premises user-specific networks. This enhances security as well as location infrastructure. A 2022 report by Thales Group, an IT firm based in France, reveals that roughly 98% of companies use the cloud for storing at least some portion of their data, and around 60% of all corporate data is located in cloud storage. Consequently, the amplified demand for cloud-based solutions is fuelling the growth of the networking support service market.
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What is the future CAGR of the networking support services market, and how will it impact industry expansion?
In recent times, the market size for networking support services has seen a significant rise. From $899.37 billion in 2024, it is projected that the market will grow to a size of $965.44 billion in 2025, registering a compound annual growth rate (CAGR) of 7.3%. The robust growth observed in the past is a result of factors like the escalating complexity of network infrastructures, the growing reliance on digital communication, the increasing importance of security and cyber threats, business growth and globalization, and changes in work practices and remote collaboration.
In the forthcoming years, the market size for networking support services is projected to experience robust growth, reaching $1320.26 billion in 2029 with an 8.1% compound annual growth rate (CAGR). The viability for this growth within the forecast period can be linked back to the adoption of cloud-centric services, an enhanced focus on matters surrounding data privacy and compliance, incorporation of cutting-edge technologies, transition to a hybrid work framework, and concentration on optimization of network performance. The forecast period will witness key trends like the implementation of 5g and expansion of IoT, focus on enriching the customer experience, globalization along with networking across borders, initiatives towards green networking, and the exigency for dealing with skills shortage and training requirements.
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What are the most significant trends transforming the networking support services market today?
Advancements in technology are becoming a prominent trend in the market for networking support services. Leading corporations in this market are leveraging new technologies to maintain their market stance. For example, in March 2023, Ciena, a telecommunications networking equipment and software services enterprise based in the US, unveiled Colt Technology Services (Colt). This innovative approach is designed to deliver greater flexibility, adaptiveness, and is entirely programmable. The primary aim of the Colt IQ Network is to deliver high-bandwidth connectivity as needed. Features such as Zero-Touch Provisioning (ZTP), automatic network discovery, and real-time network monitoring and availability, make Colt a tool that can ease deployment, operations, and problem resolution.
Which key market segments comprise the networking support services market and drive its revenue growth?
The networking support services market covered in this report is segmented -
1) By Type: LAN-As-A-Service, WAN-As-A-Service
2) By Deployment Type: On-Premise, Cloud
3) By Organization Size: Small And Medium Enterprises(SMEs), Large Enterprises
4) By End-User Industry: Banking, Financial Services And Insurance (BFSI), IT And Telecommunication, Government And Public Sector, Healthcare And Life Sciences, Manufacturing, Retail And Consumer Goods, Transportation And Logistics, Other End-User Industries
Subsegments:
1) By LAN-As-A-Service (Local Area Network): Managed LAN Services, Network Security Services, Wireless LAN Solutions
2) By WAN-As-A-Service (Wide Area Network): Managed WAN Services, SD-WAN Solutions, WAN Optimization Services
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What regions are at the forefront of networking support services market expansion?
North America was the largest region in the networking support service market in 2024. Asia-Pacific is expected to be the fastest-growing region in the networking support services market report during the forecast period. The regions covered in the networking support services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the leading players fueling growth in the networking support services market?
Major companies operating in the networking support services market include Cisco Systems Inc., Verizon Communications Inc., AT&T Inc., Cloudflare Inc., International Business Machines Corporation, DXC Technology Company, Hewlett Packard Enterprise Ltd., Arista Networks Inc., Dell Inc., Extreme Networks Inc., Juniper Networks Inc., NetScout Systems Inc., Riverbed Technology LLC, VMware Inc., Check Point Software Technologies Ltd., Palo Alto Networks Inc., Ciena Corporation, Huawei Technologies Co. Ltd., F5 Networks Inc., Citrix Systems Inc., Infosys Limited, Wipro Limited, HCL Technologies Ltd., Tech Mahindra Pvt. Ltd., Tata Consultancy Services Ltd., Cognizant Technology Solutions Corporation, Red Hat Inc., Splunk Inc., Proofpoint Inc., Symantec Corporation
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What Is Covered In The Networking Support Services Global Market Report?
• Market Size Forecast: Examine the networking support services market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the networking support services market for a structured understanding.
• Key Players Overview: Analyze major players in the networking support services market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the networking support services market.
• Segment Contributions: Evaluate how different segments drive overall growth in the networking support services market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the networking support services market.
• Industry Challenges: Identify potential risks and obstacles affecting the networking support services market.
• Competitive Landscape: Review strategic developments in the networking support services market, including expansions, agreements, and new product launches.
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