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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Market OverviewAccording to Market Research Future, the Global Network Transformation Market has been segmented based on Component, Organization Size, Vertical, and Region/Country.Network transformation enables organization to automate their networks to provide new advanced services with speed and cater their customers with excellent usage experience.
This is achieved through connected devices, new applications, automation technologies, enhanced security controls, adoption of cloud-based services, among others.
Some of the benefits offered by the network transformation include enhanced transparency and control, standardized services, short deployment cycles, faster site connectivity that enables agile business of digital services, provide customer-oriented product offerings for superior user satisfaction, increase productivity in day-to-day business operations, greater network security to meet regulatory compliances, boost adoption of cloud through via cloud exchanges and direct SaaS connectivity, among others.By component, the global network transformation market has been divided into solution and services.
Further, the solution sub-segment is bifurcated into 5G networks, cloud/centralized radio access network (C-RAN), network automation, and software-defined networking (SDN) & network functions virtualization (NFV).
Whereas services sub-segment is divided into professional services and managed services.By organization size, the global network transformation market has been divided into small & medium enterprise and large enterprise.Depending on its vertical, the network transformation market is split into BFSI, energy & utility, government, healthcare, IT & telecom, manufacturing, retail, and others.The global network transformation market has been analysed for five regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/10449Regional AnalysisBy region, the global network transformation market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
North America is expected to be the largest market due to the higher adoption of innovative technology solutions and services in the region.
