Increasing demand to optimize network investments and rapid advancements in IoT are driving the network engineering service market.
The network engineering services market size is expected to grow from USD 34.35 billion in 2017 to USD 54.69 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 9.8% during the forecast period. The market growth is driven by the increasing demand by enterprises to optimize their network investments. Moreover, the rapidly increasing number of Internet of Things (IoT)-enabled devices is expected to further fuel the growth of the network engineering service market globally. However, network engineering requires expensive upgradations and optimizations, which may restrain the market growth.
“The network deployment service type is expected to hold the largest market size during the forecast period.”
Network deployment is the most basic and important step in implementing network engineering services for optimizing network technologies. The network deployment process includes hardware delivery, physical installation, cabling, basic configuration, and equipment and integration testing. Network deployment service type is expected to hold the largest market size, owing to the rapid adoption of broadband and increasing need for new network infrastructure deployments.
“Large enterprises are expected to hold the largest market size during the forecast period.”
The adoption of network engineering services among large enterprises has become an essential strategy to sustain in the competitive market. Large enterprises prefer implementing network engineering solutions and services that can assist them in increasing their profits. Moreover, large enterprises are expected to continue adopting network engineering services at a faster pace during the forecast period.
North America is expected to hold the largest market size, whereas Asia Pacific (APAC) is expected to grow at the highest rate during the forecast period.
North America has the first-mover advantage in the adoption of new technologies, including network, Internet of Things (IoT), and cloud technologies. Therefore, companies are willingly investing in North America. The major factors driving the network engineering services market in North America are stable economies, technology enhancements, and better infrastructures. APAC is one of the fastest-growing regions and is a favorable market for network engineering services vendors. India, China, Australia, and Japan are major contributors to the network engineering services market in APAC.
In the process of determining and verifying the market size of the several segments and subsegments, extensive primary interviews were conducted with key people.
The break-up of the primary participants is given below:
- By Company: Tier 1 – 37%, Tier 2 – 47%, and Tier 3 – 16%
- By Designation: C-Level – 46%, Director Level – 36%, and Others – 18%
- By Region: North America – 26%, Europe – 30%, APAC – 22%, Rest of World (RoW) –22%,
The network engineering services ecosystem comprises several vendors, including Accenture (Ireland), Ericsson (Sweden), IBM (US), Huawei (China), Juniper Networks (US), Dell (US), Cisco (US), Fujitsu (Japan), Aviat Networks (US), Tech Mahindra (India), and Mphasis (India).
The report includes the in-depth competitive analysis of the key players in the network engineering services market, with their company profiles, recent developments, and key market strategies. The research report segments the network engineering services market by service type, transmission mode, organization size, industry vertical, and region.
Reasons To Buy the Report
The report on the global network engineering services market will help leaders/new entrants in the market in the following ways:
- The report segments the network engineering services market comprehensively and provides the closest approximations of the revenue numbers for the overall market and its subsegments. The market numbers are further split across various industry verticals and regions.
- The report helps the stakeholders understand the pulse of the market and provides information on the key market drivers, restraints, challenges, and opportunities.
- This report assists stakeholders in better understanding their competitors and gaining more insights to position their business better.
- There is a separate section on the competitive landscape, including the competitor ecosystem, and mergers and acquisitions. Besides this, there are the company profiles of 11 major vendors in this market. In this section, market insights have been provided that can put stakeholders ahead of their competitors.