Press release
2025-2034 Networking Support Services Market Evolution: Disruptions, Innovations, and Untapped Opportunities
Networking Support Services Market
What Is the Expected CAGR for the Networking Support Services Market Through 2025?
The market for networking support services has been experiencing robust growth in previous years. It is projected to expand from $894.14 billion in 2024 to $951.79 billion in 2025, with a compound annual growth rate (CAGR) of 6.4%. Factors contributing to the growth during the historic period include the escalating complexity of network infrastructures, the growing reliance on digital communication, concerns about security and cyber threats, the expansion and globalization of businesses, as well as the transformation of work practices and the increase in remote collaboration.
What's the Projected Size of the Global Networking Support Services Market by 2029?
Anticipated robust expansion in the networking support services market is set to propel its value to $1284.74 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 7.8%. This anticipated surge in the upcoming years can be credited to the acceptance of cloud-based services, heightened concentration on data protection and compliance, incorporation of cutting-edge technology, transition to hybrid work patterns, and emphasis on network performance improvement. The forecast period is likely to see prominent trends such as the implementation of 5g and expansion of IoT, focus on enhancing customer experience, globalization and cross-border networking, eco-friendly networking initiatives, and prevailing skills shortage coupled with training requisites.
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Top Growth Drivers in the Networking Support Services Industry: What's Accelerating the Market?
The rising necessity for cloud-based solutions is anticipated to boost the networking support services market's expansion in the future. These solutions are a kind of service that offers on-demand computing resources over the Internet, enabling users to access as many resources as they require on a pay-per-use system. Such solutions are employed in networking support services to equip organizations with the management, visibility, and scalability required to manage distributed cloud and on-site user-specific networks to increase security and location infrastructure. For example, a 2022 report published by Thales Group, an IT firm based in France, revealed that approximately 98% of companies keep a portion of their data on the cloud, and it is expected that 60% of all corporate data is in cloud storage. Consequently, the growing demand for cloud-based solutions is fueling the expansion of the networking support service market.
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What Trends Will Shape the Networking Support Services Market Through 2029 and Beyond?
The increasing embracement of technology is a major trend recognized in the networking support service market. Major organizations functioning in this market are tapping into new technological innovations to maintain their market stance. For instance, Ciena, an American telecommunication network equipment, and software services provider, in March 2023, introduced Colt Technology Services (Colt), an innovative, flexible, and fully programmable technology. The primary purpose of the Colt IQ Network is to deliver high-bandwidth connectivity on demand. Colt, integrated with features like Zero-Touch Provisioning (ZTP), network auto-discovery and real-time network tracking and accessibility, can streamline implementation, operations and troubleshooting.
What Are the Main Segments in the Networking Support Services Market?
The networking support servicesmarket 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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Which Top Companies are Driving 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
Which Regions Will Dominate the Networking Support Services Market Through 2029?
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
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