The Global Network Transformation Market size is expected to reach $99.6 billion by 2023, rising at a market growth of 60.6% CAGR during the forecast period. The major factors influencing the growth of the Network Transformation Market are growing demand for bandwidth requirement and rapid growth in the adoption of BYOD policy. Additionally, factors such as collaboration among industry leaders for the development and promotion of next-generation networking solutions across industry verticals and growing adoption of IT as-a-service (ITaaS) and virtualization in the IT industry would add to the market expansion during the forecast period. Lack of skill sets and expertise in next-generation networking solutions are the factors that would limit the market growth during the forecast period.
Based on Component, the market report segments the market into Solution and Services. Solution Type include SDN & NFV, C-Ran, Network Automation, Others. Services include Professional Services and Managed Services. Based on Organization Size, the Global Network Transformation market segments the market into Large Enterprises and Small & Medium Enterprises. Based on Vertical, the market report segments the market into Telecom, Information Technology, Energy & Utilities, Manufacturing, Media & Entertainment, and Others.
Based on Regions, the Global Network Transformation market segments the market into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. The market research report covers the competition analysis of key stake holders of the Global Network Transformation Market. Key companies profiled in the report include Cisco Systems, Inc., Juniper Networks, Inc., Hewlett Packard Enterprise (HPE) Company, Huawei Technology Co. Ltd., IBM Corporation, NEC Corporation, Intel Corporation, Ericsson, Fujitsu Limited, and Accenture Plc.