Network Transformation Market is Expected to reach worth USD 279.31 Billion by 2028

Network Transformation Market USD 5.96 Billion in 2020, Growing trend of BYOD policy and rise in deployment of ITaaS and virtualization.

NEW YORK, NY, UNITED STATES, May 18, 2022 /EINPresswire.com/ -- The primary factors that are driving the rise of this market are the extensive demand for bandwidth requirement.

The Network Transformation Market is estimated to grow from USD 5.96 Billion in 2020 to USD 279.31 Billion by 2028, at a CAGR of 61.9%. The primary factors that are driving the rise of this market are the extensive demand for bandwidth requirement.

Other factors responsible for the boost in the market are the rising trend of Bring Your Own Device (BYOD) policy, rise in deployment of IT as a service (ITaaS) and virtualization, and the partnership among market players for the development and promotion of enhanced networking systems.

Lack of proper skills and expertise in enhanced networking systems are the factors acting as restraints for the market during the forecast period.

Major companies in the market are Cisco (US), Juniper Networks(US), HPE (US), Huawei (China), IBM (US), Dell EMC (US), NEC (Japan), Intel (US), Ericsson (Sweden), Samsung (South Korea), FUJITSU (Japan), Ciena (US), Accenture (US), GENBAND (US), AT&T (US), Arista Networks (US), and 6WIND (France).

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Further key findings from the report suggest

The Global Network Transformation Market is estimated to grow from USD 6.01 Billion in 2019 to USD 279.31 Billion by 2028, at a CAGR of 61.9%. The primary factors attributing to the growth of the market are the extensive demand for bandwidth requirement, the rising trend of Bring Your Own Device (BYOD) policy, rise in deployment of IT as a service (ITaaS) and virtualization, and the partnership among market players for the development and promotion of enhanced networking systems.

On the basis of integrant (solutions and services), organization sizes, verticals, and regions. Solutions segment is further segmented into Software Defined Networking (SDN) and Network Functions Virtualization (NFV), Network Automation and C-RAN.

The NFV and SDN solution segment is expected to hold the largest market with revenue of USD 4.8 Billion in 2027, at a CAGR of 69% from 2019-2027. SDN changes the Wide Area Network (WAN) design by de-coupling the control and data planes, abstracting applications and centralizing network intelligence from the underlying network infrastructure. By using SDN data centers, telecom operators can install enhanced network programmability, automation, and control over their network. Also, SDN enhances the scalability and flexibility of WAN which later improves the network performance and availability.

The network transformation market is forecasted to witness growth because of the increasing partnerships and joint ventures among industry players for the development enhanced networking systems; and a growing adoption rate of ITaaS, BYOD policy, and virtualization.

North America is estimated to have revenue of USD 7.5 Billion in 2027, at a CAGR of 71% from 2019 to 2027, the largest market share in the network transformation market. Major factors responsible for the growth in the market are increasing trend of BYOD, deployment of smart connected devices. Organizations in the US have deployed new technology systems for upgrading the manageability and flexibility needed for adding new network capabilities and capacity.

The Report, “Network Transformation Market by Integrant (Solutions and Services), Solution-Type (SDN and NFV, C-RAN, Network Automation and 5G Networks), Service-Type (Professional Service, Managed Services (Network Monetization, Network Management, Network Testing), Industry Vertical, and Region - Global Forecast to 2027 - Global Forecast to 2027 is forecasted to reach USD 279.31 Billion by 2028” is available now to Reports And Data customers and can also be purchased directly at: https://www.reportsanddata.com/report-detail/network-transformation-market

Segments covered in the report:

Network Transformation Market, By Integrant (Revenue, USD Million; 2018–2028)

• Solutions
• Services

Network Transformation Market, By Solution-Type (Revenue, USD Million; 2018–2028)

• SDN and NFV
• C-Ran
• Network Automation
• 5G Networks

Network Transformation Market, By Service-Type (Revenue, USD Million; 2018–2028)

• Professional Services
• Managed Services

Network Transformation Market, By Company Size (Revenue, USD Million; 2018–2028)

• Large Enterprises
• Small and Medium-Sized Enterprise

Network Transformation Market, By Industry Vertical (Revenue, USD Million; 2018–2028)

• Manufacturing
• Information Technology
• Telecom
• Media and Entertainment
• Energy and Utilities
• Others

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Network Transformation Market, By Region (Revenue, USD Million; 2018–2028)

• North America
• Europe
• APAC
• Latin America
• Middle East & Africa

Table of Content:

• Global Network Transformation Market Overview
• Economic Impact on Industry
• Market Competition by Manufacturers
• Production, Revenue (Value) by Region
• Market Effect Factors Analysis
• Industrial Chain, Sourcing Strategy and Downstream Buyers
• Supply (Production), Consumption, Export, Import by Regions
• Production, Revenue (Value), Price Trend by Type
• Global Network Transformation Market Forecast
• Global Network Transformation Market Analysis by Application
• Manufacturing Cost Analysis
• Marketing Strategy Analysis, Distributors/Traders
• Research Finding/ Conclusion
• Appendix

Tushar Rajput
Reports and Data
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