Global Network Engineering Services Market Report 2022: Rising Investment in IoT Devices Drives Growth – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The report “Network Engineering Services Market by Service Type (Network Assessment, Network Design, Network Deployment), Transmission Mode (Wired, Wireless), Organization Size (Large Enterprise, SMEs), Vertical and Regional – Global Forecast to 2027” has been added to from ResearchAndMarkets.com offer.

The global network engineering services market is expected to grow from USD 48.7 Billion in 2022 to USD 76.3 Billion by 2027, at a CAGR of 9.4% during the forecast period.

Dependence of financial institutions on networking

Commercial banks, investment banks, and credit unions are just a few examples of financial institutions that rely heavily on centralized systems to run their business because their local branches must connect to them via the Internet. These centralized systems are crucial for several banking-related tasks, including credit checks, loan applications, blue book value verification, communications, and security checks that confirm an individual’s identity. The institution’s scope of activity depends on its networking capacity, which must always be reliable.

Based on service type, network design segment is expected to represent the highest CAGR during the forecast period

Rising demand for cloud-based services and increasing adoption of data-based solutions are the major factors expected to drive the network design segment. Effective service delivery improves system reliability and operational efficiency and reduces costs. These services also improve the customer experience. The amount of data that needs to be ingested and processed is increasing every day due to the growing number of data sources. In such cases, adopting proper network design has become essential to govern the data, its sources, and access to the data. Network design is an integral part of network engineering services.

Based on the transmission mode, the wireless segment is expected to represent the highest CAGR during the forecast period

Wireless technology provides hassle-free management and deployment for connectivity needs. The wireless network could significantly reduce the complexity and cost of deployment, including the cost of licenses, it provides end-to-end network security and provides ML, AI and cloud-based automation in management errors and maintenance support. Upcoming technologies such as 6G and Wi-Fi 6 are also a driving factor for the development of the wireless segment.

Based on the vertical, the BFSI segment is expected to represent the highest CAGR during the forecast period

Cloud-based data solutions are gaining popularity over on-premises solutions due to multiple advantages of cloud deployment mode. These benefits include lower operational costs, simple deployments, and higher scalability in terms of connected resources. Combined with AI and ML technologies, banks aim to improve their fraud detection systems while minimizing risk risks. These organizations are also focusing on improving their customer services, instant query resolution, low latency, high-speed networking, and banking security.

Based on region, Asia-Pacific is expected to have the highest CAGR during the forecast period

Asia is the fastest growing region and the largest continental economy in terms of nominal GDP and PPP in the world. The region has also been a leader in technology adoption and upcoming applications. It witnesses dynamic changes in the adoption of new technologies and advancements in organizations across various industries. Wi-Fi 6 and 5G networks being the main upcoming technologies, play a vital role in the technological advancement of Asia-Pacific.

Market dynamics

Drivers

  • Increased investment in IoT devices

  • The trend of connected wearables is gaining momentum

  • Growing need for Big Data

  • Switch to OTT

Constraints

  • Growing concerns about data security

Opportunities

  • Immersive gaming and virtual reality market

  • Unleash the AI

Challenges

  • Concerns About Unauthorized Access

Main topics covered:

1. Introduction

2 Research methodology

3 Executive summary

4 premium previews

5 Market Overview

6 Network Engineering Services Market, By Service Type

7 Network Engineering Services Market, By Transmission Mode

8 Network Engineering Services Market, By Organization Size

9 Network Engineering Services Market, By Vertical

10 Network Engineering Services Market, By Region

11 Competitive landscape

12 company profiles

13 adjacent markets

14 Appendix

Companies cited

  • Accenture

  • Advanced digital systems

  • AT&T

  • Aeronautical networks

  • Hospitality solutions

  • Cisco

  • Codetru

  • css corp

  • customer

  • Ericsson

  • Fujitsu

  • HCL Technologies

  • Huawei

  • Hughes Systique Corporation

  • IBM

  • imco

  • Infosys

  • Inspira Enterprise

  • Juniper Networks

  • Mphase

  • Nexius

  • NTT Global Networks

  • Sincera

  • CDS

  • Tech Mahindra

  • Velocis Systems

  • Vertical

  • Wipro

For more information about this report visit https://www.researchandmarkets.com/r/hehkrz

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