Network Consulting Services Market Value
The increasing demand for advanced networking solutions to support digital transformation is a primary driver of the Network Consulting Services market growth.
PORTLAND, OREGON, UNITED STATES, September 15, 2023/EINPresswire.com/ — The Network Consulting Services Market was expected to be worth $14.7 billion in 2021 and is anticipated to increase to $27.9 billion by 2031, with a compound annual growth rate (CAGR) of 6.7% from 2022 to 2031.
In order to help clients deal with the opportunities and challenges presented by networking infrastructure, network consulting services provide entire lifecycle services, from strategy and evaluation through design and deployment to ongoing monitoring and maintenance. These network consulting services help you make the most of technologies like software-defined networking (SDN) and network functions virtualization (NFV) by strategically prioritizing and connecting your networking, operational, and business demands.
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According to network consulting services market research, the IT & telecom and BFSI segments collectively accounted for around 40.2% market share in 2021, with the former constituting around 23.6% share. The education and healthcare segments are expected to witness considerable CAGRs of 9.6% and 8.0%, respectively, during the forecast period.
The deployment of 5G networks is accelerating across the globe. This trend is creating substantial opportunities for network consulting services, as businesses seek to leverage the increased bandwidth, low latency, and enhanced connectivity for a range of applications, from IoT to augmented reality.
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With the proliferation of cyber threats, network security has become paramount. Network consulting services providers are focusing on robust cybersecurity solutions, offering businesses protection against sophisticated attacks and ensuring the integrity and confidentiality of data across their networks.
As organizations migrate to cloud-based infrastructures and embrace edge computing, network consultants play a pivotal role in designing, optimizing, and securing these distributed networks. The challenge lies in balancing centralized control with the need for real-time processing at the edge.
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Region-wise, Asia-Pacific held a significant global network consulting services market share, due to the region’s expanding 5G and wireless connectivity penetration, China currently dominates the regional market for Asia-Pacific. The main drivers of the growth of the network consulting services market size is in Asia-Pacific are the rapid advancements in the network as a service (NaaS) technology and the rise in awareness for personalized network design and planning.
Key players profiled in the report include Accenture plc, Capgemini SE, Cisco Systems, Inc., Dell Technologies Inc., Telefonaktiebolaget LM Ericsson, Fujitsu Limited, IBM Corporation, Oracle Corporation, Hewlett Packard Enterprise Company, and Huawei Technologies Co., Ltd. Market players have adopted various strategies, such as product launch, collaboration & partnership, joint venture, and acquisition to expand their foothold in the network consulting services industry.
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David Correa
Allied Analytics LLP
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