The Network Optimization Services market is expected to grow significantly, reaching $9.78 billion by 2028, driven by VoIP demand and infrastructure advancements.
Rise in demand for VoIP services across organizations and developments in network infrastructure have boosted the growth of the global market.
Rise in demand for VoIP services across organizations and developments in network infrastructure have boosted the growth of the global network optimization services market. However, advancements in WAN and RAN optimization technology hamper the market growth. On the contrary, an increase in the number of production facilities is expected to open lucrative opportunities for the market players in the future. As per the report, the global network optimization services industry was pegged at $3.04 billion in 2020, and is estimated to reach $9.78 billion by 2028, growing at a CAGR of 16.1% from 2021 to 2028.
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Impact of Covid-19 on Network Optimization Services Market-
• Due to the Covid-19 pandemic, increase in need for network optimization services from government agencies and policymakers were observed to implement AI systems, big data analytics, and data analysis software to monitor the spread in real-time, make predictions, and classify Covid-19 treatment drugs.
• Several businesses opted for a “work from home” culture and employed suitable measures to ensure optimal performance and security of their network infrastructure owing to increase in network threats such as data breaches and hacking.
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Due to the production of a huge quantum of data by making use of the prevailing information and digital technology, companies are gaining a lot of benefits. Companies are opting for network optimization for a systematic function of the organizations that promise a continuous growth. Network optimization services market share is anticipated to witness significant growth owing to the performance of different market segments. Among all segments, the wide-area network optimization solutions that are (WAN) segment will hold the largest market share of the network optimization services market during the forecast period.
Advancement in network infrastructure coupled with demand for VoIP services across enterprises is a major factor that primarily drives the market during the forecast period. The implementation segment dominated the market in 2020, accounting for more than two-fifths of the global network optimization services market, due to rise in demand for remote working and work from home solutions because of the Covid-19 pandemic. However, the consulting segment is projected to manifest the largest CAGR of 18.1% from 2021 to 2028, due to trend of digital transformation for higher customer reach & scope and uninterrupted communication for smooth business growth.
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The WAN optimization segment held the lion’s share in 2020, contributing to around half of the global network optimization services market, as SD-WAN has changed the way networks support corporate applications by proactively regulating and effectively using all available WAN transport resources. However, the RAN optimization segment is estimated to register the highest CAGR of 18.2% from 2021 to 2028, owing to rise in awareness about industry-specific services and development in the field of artificial intelligence and machine learning.
Network optimization services market across North America held the largest share in 2020, accounting for nearly two-fifths of the market, owing to adoption of architecture of network solutions. However, the market across Asia-Pacific is anticipated to showcase the fastest CAGR of 17.9% during the forecast period, due to rise in demand for on-premise applications and rapidly proliferating in cloud computing.
Major market players
• Solarwinds
• Cisco Systems
• Huawei
• Nokia Corporation
• ZTE
• Infovista
• Citrix
• Circadence
• Fatpipe Networks
• Netscout Systems
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The article discusses the growth and trends in the Network Optimization Services market, focusing on VoIP demand and technological advancements.
The market is projected to reach $9.78 billion by 2028, growing at a CAGR of 16.1% from 2021 to 2028.
The WAN optimization segment held the largest market share in 2020, contributing to around half of the global market.
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