Overview and Scope
Network engineering services refer to planning, implementing, and managing computer networks that provide in-house phone, data, video, and wireless network services. Network engineering service providers partner with consultants, telecom companies, corporations, ISPs, and others to prepare, develop, plan, and implement projects based on customer recommendations and requirements.
Sizing and Forecast
The network engineering services market size has grown strongly in recent years. It will grow from $53.39 billion in 2023 to $58.16 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to growth of internet usage and data traffic, explosion of mobile devices and connectivity, globalization and distributed workforces, enterprise digital transformation, cloud computing adoption.
The network engineering services market size is expected to see rapid growth in the next few years. It will grow to $85.49 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to demand for skilled network engineers, adoption of advanced network analytics, global connectivity and network integration, increasing complexity of network environments, focus on sustainable and green networking. Major trends in the forecast period include green networking and energy efficiency, adoption of intent-based networking, compliance with regulatory standards, network slicing for customized services, remote workforce connectivity.
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Segmentation & Regional Insights
The network engineering services market covered in this report is segmented –
1) By Service Type: Network Assessment, Network Design, Network Deployment
2) By Transmission Mode: Wired, Wireless
3) By Organization Size: Large Enterprises, Small and Medium-sized Enterprises (SMEs)
4) By Industry Vertical: Banking, Financial Services, and Insurance (BFSI), Telecom, Information Technology, Healthcare, Education, Media and Entertainment, Energy and Utilities, Manufacturing, Other Industry Verticals
North America was the largest region in the network engineering services market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the network engineering services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increased adoption of broadband will propel the growth of the network engineering services market. Broadband attributes to high-speed internet connectivity that is always quicker than typical dial-up access. It enables high-quality and rapid access to information, teleconferencing, data transfer, and other functions in various settings, including healthcare, education, and technical development. Network engineering services create a balance between security and the rising need for computing that is fast, more effective, and more adaptable. Due to COVID-19 restrictive containment measures involving social distancing, remote working, and the closure of commercial activities, companies have rearranged their operations to initiate remote working that increased the adoption of broadband. For instance, in December 2022, according to the Information Technology and Innovation Foundation, a U.S. nonprofit public policy organisation, by 2021, 81.9% of households would have internet access, with 83.4% of that through a broadband subscription, and in the US, 90 percent of households currently subscribe to broadband. Therefore, the increase in the adoption of broadband is expected to boost demand for network engineering services during the forecast period.
Key Industry Players
Major companies operating in the network engineering services market report are Accenture PLC, Telefonaktiebolaget LM Ericsson, Huawei Technologies Co. Ltd., Juniper Networks, IBM Corporation, Cyient Limited, Datavision Inc., Imagit Inc., Infosys Limited, Atisdigital, Fujitsu Limited, Netronome Systems Inc., ABB Ltd., Avaya Inc., Capgemini SE, Cisco Systems Inc., Entrust Datacard Corporation, Nokia Corporation, OpenGov, Oracle Corporattion, UTI Group, General Electric, Honeywell International Inc., Itron Inc., KAPSCH Group, Microsoft Corporation, Osram Gmbh, SAP SE, Schneider Electric SE, Siemens AG
The network engineering services market report table of contents includes:
1. Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
………
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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