BANGALORE, India, Sept. 17,
2024 /PRNewswire/ -- Network Engineering Services
Market By Service Type (Network Design, Network Deployment,
Network Assessment), By Connectivity (Wired, Wireless), By
Enterprise Size (Large Enterprise, Small and Medium Enterprise), By
Industry Vertical (BFSI, IT and Telecom, Healthcare, Manufacturing,
Education, Media and Entertainment, Others): Global Opportunity
Analysis and Industry Forecast, 2022-2031.
The Global Network Engineering Services Market size was valued
at USD 43.7 Billion in 2021, and is
projected to reach USD 111.7 Billion
by 2031, growing at a CAGR of 10.1% from 2022 to 2031.
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Major Factors Driving the Growth of Network Engineering
Services Market:
With the constant evolution of network infrastructure and the
explosion of growth in cloud computing, IoT, and 5G technology, the
global market for network engineering services is teeming. Network
engineering services are an appealing option to businesses that
seek network development, optimization, and management with the
promise of performance, security, and scalability. Besides, the
demand for robust network solutions has gained impetus because of
the shifting paradigms toward digital transformation coupled with
burgeoning cyber threats. The major demand-generating sectors for
the market include telecom, IT, healthcare, and financial services.
North America and Asia-Pacific remain the leaders in adoption
due to rapid urbanization and technological advancements.
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TRENDS INFLUENCING THE GROWTH OF THE NETWORK ENGINEERING
SERVICES MARKET:
Network deployment remains a key driver in the network
engineering services market. With the growing trends of companies
expanding and upgrading their infrastructures for communication,
there has been a surge in the demand for all-inclusive services on
network deployment. Whether it's new 5G networks rolling out,
expansion of fiber-optic connectivity, or the installation of new
network hardware, organizations call for expert engineering
services for effective and reliable deployment. The growing trend
in remote work and increased internet usage has spurred the need
for robust network infrastructure. This has propelled a surge in
demand for services to deploy those networks. Network deployment
remains one of the critical driving factors for the increasingly
growing network engineering services market, as businesses see the
need for seamless connectivity.
The rapid adoption of wireless technologies, including Wi-Fi,
cellular networks, and the recent emerging 5G solutions, is an
important driver in the growth of the network engineering services
market. Wireless networks provide businesses with enhanced
mobility, scalability, and flexibility, making them hungry for
associated engineering services to design, deploy, and maintain
those networks. The growing importance of wireless IoT devices in
industries such as healthcare, retail, and manufacturing is growing
the need for strong wireless infrastructure and experts' services
in network engineering. Increasing adoption of the concept of smart
cities and other connected devices boosts the wireless segment in
the market of network engineering services.
The IT and telecom sector are the prime driver behind the
network engineering services market. As the digital transformation
of businesses is happening, there is a growing need to have secure
and highly performant network infrastructure that can support cloud
computing, data centers, and unified communications. The rolling
out of 5G networks comes at a time when the telecom industry is
lately enhancing bandwidth while at the same time lowering latency.
Network engineering services are important to design, optimize, and
manage such networks with a view to handle the growing data traffic
and connectivity requirements. The fact that IT and telecom are
playing an increasing role in digital innovation is expected to
propel the market for network engineering services.
Edge computing is yet another growth-contributing factor for the
network engineering services market. As more companies move to edge
computing as a way to process data closer to the source, they need
increasingly distributed, low-latency networks. Network engineering
services are very important for enabling the design and management
of such complex networks in order to guarantee the smooth
transportation of data between edge devices and central data
centers. Increased levels of adoption of edge computing driven by
5G, IoT, and AI applications are further amplifying market growth.
Based on this, if industries add edge computing, they will seek a
higher level of network engineering services.
The higher the adoption of unified communication, the faster the
growth of the network engineering services market. Companies in
every industry are adopting UC to help consolidate operations with
the aim of promoting collaboration at low costs by integrating
voice, video, messaging, and data services into one location.
However, UC solution deployments do call for solid and reliable
network infrastructures, which should be designed and optimized by
network engineering services. Network engineering services are now
more important than ever, as organizations keep investing in UC
platforms to support remote work and global
collaboration.
Security has become a crucial issue for network engineering with
the digitization of businesses and industries these days. As the
threats, data breaches, and cyber incidents have increased
nowadays, secure design and operations in organizational networks
in use are also increased to a larger extent. Network engineering
services are thus very indispensable to ensuring the safety of the
network because of strong measures put in place. Data
protection-related regulatory activities are growing in most
sectors, but especially in banking, healthcare, and retail. This is
further expected to bolster the demand for secure network
infrastructures, thereby increasing the overall level of expansion
in the network engineering services market.
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NETWORK ENGINEERING SERVICES MARKET SHARE ANALYSIS
Asia-Pacific is expected to
grow exponentially in the forecast years due to the rapidly
advancing digital capabilities and high competitive market space,
which will surge the growth of network engineering services over
the next few years in the region. Major market growth is being
observed in countries of the Asia-Pacific, such as China, India,
and Japan, on account of huge
investments in the telecommunication infrastructure and the digital
transformation drive. The growth rate in the network engineering
services market varies across regions based on factors of
technological adoption, infrastructure development, and economic
factors. Europe, as a region, is
also growing at a good rate due to smart city initiatives and the
expansion of high-speed networks.
Key Companies:
- Integration International, Inc.
- TATA COMMUNICATIONS
- Imagit Inc
- Cyient
- Mphasis
- Sincera Consulting LLC
- Softnautics
- Datavision, Inc.
- PCS Technologies Inc.
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