Overview and Scope
The network transformation refer to the process of updating one’s core network. Network transformation is a step-by-step approach to reimagining the complete network, including the cloud, WAN, branch, data centers, remote user connection, and network security architecture.
Sizing and Forecast
The network transformation market size has grown exponentially in recent years. It will grow from <b>$59.57 billion in 2023 to $92.2 billion in 2024 at a compound annual growth rate (CAGR) of 54.8%. </b> The growth in the historic period can be attributed to legacy infrastructure, bandwidth demand, security concerns, cost reduction, cost reduction.
The network transformation market size is expected to see exponential growth in the next few years. It will grow to <b>$511.59 billion in 2028 at a compound annual growth rate (CAGR) of 53.5%. </b> The growth in the forecast period can be attributed to remote workforce, supply chain resilience, network automation, digital transformation, competitive pressure. Major trends in the forecast period include edge computing, artificial intelligence (ai) and machine learning, 6g and beyond, cloud adoption, internet of things (iot).
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Segmentation & Regional Insights
The network transformation market covered in this report is segmented –
1) By Solutions: Network Automation, 5G Networks, SDN & NFV, C-RAN
2) By Organization Size: Small and Medium Enterprizes, Large Enterprize
3) By Vertical: BFSI, Energy and Utility, Government, IT and Telecom, Manufacturing, Retail, Other Verticals
<b>North America</b> was the largest region in the network transformation market in 2023 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the network transformation market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The growing adoption of bring your own device (BYOD) policy in companies is expected to propel the growth of the network transformation market. BYOD policy is when employees connect to the organization’s network and access what they need to complete their tasks using their personal devices such as smartphones, tablets, computers, laptops, and others. Network transformation helps reconstruct network architecture when companies want to change their network infrastructure based on employees’ devices. According to Cisco, 89% of IT departments enable BYOD in some form and 69% of IT leaders are positive about BYOD. Therefore, the growing adoption of BYOD policy in companies is expected to drive the network transformation market.
Key Industry Players
Major companies operating in the network transformation market include <b> International Business Machines Corporation, Fujitsu Ltd., Dell EMC, Ciena Corporation, Hewlett Packard Enterprise Company, Cisco Systems Inc., Juniper Networks Inc., Huawei Technologies Co. Ltd., NEC Corporation, Intel Corporation, Nokia Corporation, Telefonaktiebolaget LM Ericsson, Samsung Group, VMware Inc., Aryaka Networks Inc., Citrix Systems Inc., CenturyLink, Silver Peak Systems Inc., ZTE Corporation, ALE International SAS, BT Group plc, Cato Networks, Colt Technology Services Group Limited, Comarch SA, Coriant GmbH, CSG International, ECI Telecom, Infosys Limited, Fortinet Inc., Broadcom Inc., AT&T Inc., Accenture plc </b>
The network transformation market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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