An increase in internet penetration, increased consumer awareness of network consulting services, and an increase in the need for flexible and upgraded network infrastructures are driving the growth of the global network consulting services market.
PORTLAND, Oregon., November 11, 2022 /PRNewswire/ — Allied Market Research released a report titled “Network Consulting Services Market by type (network design and planning, network test, other), by organization size (SME, large enterprise), by sector (BFSI, healthcare, education, energy and utilities, IT and telecommunications, government, retail, others): Global Opportunity Analysis and Industry Forecast, 2021-2031″. According to the report, the global network consulting services industry generated $14.7 billion in 2021, and should generate $27.9 billion by 2031, with a CAGR of 6.7% from 2022 to 2031.
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Main determinants of growth
An increase in internet penetration, increased consumer awareness of network consulting services, and an increase in the need for flexible and upgraded network infrastructures are driving the growth of the global network consulting services market. However, high server downtime and server advisory system costs are limiting the market growth. Additionally, the adoption of machine learning (ML) and big data analytics such as the Internet of Things (IoT) and artificial intelligence (AI) rapidly developing in computing technologies and wireless networks should present new opportunities in the years to come.
- The outbreak of the Covid-19 pandemic has had a positive impact on the global network consulting services market as network consulting services have become increasingly popular during the lockdown.
- Many businesses and individuals have started working remotely since the pandemic. Businesses need the right technologies to provide network infrastructure agility and security for remote work. When making additional changes to the network, companies can use network consulting services to identify risks and weaknesses in their network.
The IT and telecom segment will maintain its leading status throughout the forecast period
Based on the vertical, the IT and telecommunications segment held the highest market share in 2021, accounting for almost a quarter of the global network consulting services market, and is expected to maintain its leading status throughout. the forecast period. IT and telecommunications engage in a server-based atmosphere to run their business and protect themselves with the help of sophisticated network operations such as network design and plan deployment and network testing . This factor is fueling the growth of the network consulting services market. However, the education segment is expected to show the highest CAGR of 9.6% from 2022 to 2031, due to benefits such as reduction in manual labor and promotion of automation. The rapid growth in the adoption of connected devices and the increased awareness of advanced technologies such as AI, blockchain, big data and cloud computing in various e-learning platforms to improve educational institutions. education drive market growth.
The network design and planning segment to maintain its leading status throughout the forecast period
Based on type, the network design and planning segment held the highest market share in 2021, accounting for more than three-fifths of the global network consulting services market, and is expected to maintain its leading status. throughout the forecast period. Moreover, the same segment is expected to show the highest CAGR of 7.2% from 2022 to 2031. expanding the market for network consulting services.
The specialty store segment to maintain its leading position during the forecast period
Based on organization size, the large enterprise segment accounted for the largest share in 2021, contributing around three-quarters of the global network consulting services market, and is expected to maintain its leading position over the course of the forecast period. Moreover, the same segment is expected to show the highest CAGR of 7.3% from 2022 to 2031, as large enterprises can deploy network consulting services depending on network infrastructure, business operation and quality requirements.
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North America maintain dominance by 2031
Based on the region, North America held the highest market share by revenue in 2021, accounting for nearly two-fifths of the global network consulting services market, and is expected to dominate the market during the forecast period. Rising acceptance of cloud computing solutions, digitalization, artificial intelligence and machine learning have had a positive impact on the growth of the network consulting services market in this region. However, the Asia Pacific the region is expected to witness the fastest CAGR of 7.9% from 2022 to 2031. Increasing spending capacity, owing to rapid development of 5G wireless infrastructure, proliferation of smart devices, increase in number of software and IT infrastructure providers and advancement in the e-commerce sector.
Major Market Players:-
- Accenture plc,
- Cisco Systems, Inc.,
- Dell Technologies Inc.,
- Telefonaktiebolaget LM Ericsson,
- fujitsu limited,
- IBM Corporation,
- Oracle Corporation,
- Hewlett-Packard Enterprise Company,
- Huawei Technologies Co., Ltd.
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