Tokyo, Japan, May 05, 2023 (GLOBE NEWSWIRE) -- Network Automation & Orchestration Trend Drives Network Optimization Services Market
According to a comprehensive research report by Market Research Future (MRFR), “Network Optimization Service Market, By Application, By Services, By Region – Market Forecast Till 2032”, the market is anticipated to acquire a valuation of approximately USD 9.716 Billion by the end of 2032. The reports further predict the market to flourish at a robust CAGR of over 14.60% during the assessment timeframe.
Network Optimization Service Market Key Players
Players leading the global Network optimization services market include
- Solar Winds Inc. (US)
- Cisco Systems INC (US)
- Nokia Corporation (Finland)
- Huawei Technologies Co. Ltd (China)
- ZTE Corporation (China)
- Citrix Systems Inc. (US)
- Info vista (France)
- NETSCOUT Systems Inc. (US)
- Silver Peak Systems (US)
- CIRCADENCE Corporation (US)
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Network Optimization Service Market Report Scope:
| Report Metric | Details |
| Revenue Forecast in 2030 | USD 9.716 Billion |
| CAGR | CAGR of 14.60% from 2023 to 2032 |
| Base Year | 2022 |
| Study Period | 2023-2032 |
| Key Market Opportunities | The development of network infrastructure |
| Key Market Drivers | Demand for VoIP services among businesses |
Network optimization service providers help modernize and secure networks of organizations, offering end-to-end network services from assessment to design and implementation. Network optimization services are designed to help organizations with automation processes or a more mature level of network orchestration.
Implementing network optimization services can significantly reduce overall operational costs while expanding network capabilities. Network optimization can be achieved through network automation and orchestration that can enhance productivity and make the network more secure & dynamic. Organizations automate their networks to exceed their goals for network product/service quality to stakeholders.
Telecom operators implement analytics and network optimization solutions to offer near real-time, multivendor, and cross-domain data analytics and optimization capabilities, utilizing greatly enhanced and high scalability & performance big data platforms to support the network ecosystem.
Correlating metrics and events from the network ecosystem help operators in assessing customer experiences, retaining & upselling subscribers, and prioritizing network investments. Network optimization solutions also support telecom companies in obtaining crucial insights to support, optimize, and monitor 5G deployments and subscriber adoption.
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Industry Trends
The increased implementation of network optimization and demand for VoIP services among businesses predominantly drives the market. Besides, the growing adoption of cloud technology and big data analytics boosts the network optimization services market size. With the rapid growth in IoT technologies and on-demand network providers, the market is estimated to perceive vast revenue growth in the next few years.
There is a huge demand for network optimization services that can provide private, scalable, on-demand connectivity to leading cloud service providers while enabling agile, flexible, high-performance networking solutions at low cost. Additionally, the adoption of operating expenditure saving and mobility boosts the network optimization services market growth.
The rising adoption of cloud-based networking technologies and demand for cost-effective networking solutions are key driving forces. 5G rollouts and distribution of the 5G spectrum worldwide, alongside the growing commercialization of 5G services, create significant opportunities for network optimization service providers. Also, the rising need for optimization solutions and services influences the market landscape.
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Industry Trends
The advanced approach of releasing the data from a control plane & coherent improvisation substantiates the market size. The spurring rise in the IT & telecommunication industry fosters market growth due to the expansion of various telecom operator networks. Furthermore, the rising inclination towards cloud technology by various SMEs and IoT advances offer significant growth opportunities.
On the other hand, high installation costs required for Network optimization services implementations slow down market growth. The lack of proper infrastructure and high installation costs required to implement Network optimization services are some of the major factors impeding market growth. Nevertheless, opportunities in value-added services would support the growth of this market throughout the projected period.
Segments
The network optimization service market report is segmented into service types, applications, and regions. The service type segment is sub-segmented into implementation, consulting, maintenance & support, and managed services. The application segment is sub-segmented into LAN optimization, WAN optimization, RAN optimization, and data center optimization. By regions, the market is segmented into the Asia-Pacific, Americas, Europe, and the rest of the world.
Regional Analysis
North America dominates the global network optimization services market. The rising use of cutting-edge cloud-based technologies drives market growth. Besides, the presence of several notable players and the early adoption of cloud-based deployment services in the region boost the network optimization services market size. The US and Canada hold considerable shares in the regional market.
Also, the higher adoption of network optimization services across end-user industry verticals to re-structure business functions & strategies offers significant market opportunities. Moreover, technological advances and vast numbers of networks due to the digital revolution across industries influence the network optimization services market revenues.
Europe accounts for the second-largest network optimization services market share. Factors such as the steadily rising demand for mobile network optimization due to the automation of manufacturing processes and the rising use of cloud-based platforms and smartphones substantiate the region's network optimization services market value. Germany holds the largest share, while the UK is the fastest-growing network optimization services market in this region.
The network optimization service market is brisk in the Asia-Pacific region. The growing utilization of optimization techniques to improve network performance is a key driving force. Countries such as Japan, India, China, and Australia hold considerable APAC network optimization market shares. China holds the largest market share, while India is the fastest-growing market for network optimization services in Asia-Pacific.
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Competitive Analysis
The well-established network optimization services market appears fragmented due to the presence of several key companies. Services providers incorporate strategic initiatives such as collaborations, mergers & acquisitions, expansions, and technology launches to gain a competitive advantage. Network optimization services providers focus on innovations and the development of new solutions, fueling the already intensified market competition.
For instance, on Oct.11, 2022, Ericsson and Vodafone Oman announced their partnership to continue the network optimization drive in the country. Companies will offer advanced AI tools to empower telecom operators for network infrastructure development across multiple domains. Under the partnership, Ericsson will provide AI-based cognitive software solutions for network optimization to Vodafone to facilitate data-driven decisions and support the implementation of zero-touch operations (ZTO) and anomaly detection capabilities.
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