The new report by Expert Market Research titled, ‘Global Network Optimization Services Market Size, Report and Forecast 2021-2026’, gives an in-depth analysis of the global network optimization services market, assessing the market based on its segments like service, application type, deployment model, organisation size, industry vertical, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 3.13 Billion
- Forecast CAGR (2021-2026): 8%
- Forecast Market Size (2026): USD 7.55 Billion
The increasing use of network optimization services in the logistics industry to improve cost-effectiveness, operational efficiency, and customer experience is boosting market growth. The rising expenses of supply chains are causing a surge in network optimization implementation, which is also driving market growth.
The popularity of e-commerce platforms like Amazon and Walmart is driving up demand for international logistics, resulting in high operational expenses. The rising use of cutting-edge technologies in education to improve students’ knowledge while also enhancing educational outcomes is driving network optimization. Other factors such as the increasing number of branch offices and data centres, growth in usage of Internet Protocol (IP) video and virtualisation, and network optimization as a cloud service are driving the growth of the market.
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Industry Definition and Major Segments
Network optimization services are a collection of techniques for improving network performance. To monitor and improve network performance, a variety of network optimization tools and techniques are employed, including bandwidth management, global load balancing, packet loss monitoring, and latency minimisation. Network optimization services ensure the most efficient use of system resources while also increasing corporate productivity and competency.
The major services of network optimization services are:
- Implementation Services
- Consulting Services
- Support and Maintenance Services
- Managed Services
The market can be broadly categorised on the basis of its application types into:
- Local Network Optimization
- WAN Optimization
- RAN Optimization
- Data Centre Optimization
Based on deployment model, the market is bifurcated into:
By organisation size, the industry is classified into:
- Small and Medium-Sized Enterprises
- Large Enterprises
On the basis of industry verticals, the market is categorised into:
- Banking, Financial Services, and Insurance
- Government and Defence
- Transportation and Logistics
- Travel and Tourism
- Consumer Goods and Retail
- Media and Entertainment
- Energy and Utilities
- Healthcare and Life Sciences
- Information Technology
On the basis of region, the industry is divided into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The introduction of the 5G network has increased the demand for network optimization, boosting the market growth. As a result, there has been a spike in the use of creative planning methods to optimise the 5G network’s functionality and cost-effectiveness. The industry is being boosted by the increasing use of 3D technology to model the optimization of the 5G network in order to reduce manual errors and improve accuracy. In the future years, rising investments in the sector to optimise networks and expand the availability of high-speed internet connectivity are expected to drive market expansion.
Key Market Players
The major players in the market are Riverbed Technology, Inc., SolarWinds Inc., Cisco Systems, Inc., Nokia Corporation, and ZTE Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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