Overview
Network Transformation Market size is expected to register an exponential CAGR of 39% valued at USD 122.73 Billion by 2026.
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.
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Regional Analysis
The global network transformation size is expected to register an exponential CAGR of 39.7% during the forecast to 2026. The geographic analysis of the market has been conducted for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
North America is expected to be the dominating region in terms of the adoption of network transformation solutions & services. North American market has been segmented into the US, Canada, and Mexico. The US is expected to lead the country-level market, while Canada is projected to be the fastest-growing segment during the forecast period. The US market is expected to report the highest market share, owing to the factors such as faster adoption of advanced technologies to enhance customer experience across all types of devices. Additionally, the North American market for network transformation solutions and services is expected to grow further due to presence of key players in the region such as Ciena Corporation (US), Cisco Systems, Inc. (US), Dell Inc. (US), Juniper Networks, Inc. (US), Hewlett Packard Enterprise Development LP (US), Intel Corporation (US), IBM Corporation (US), NEC Corporation (US), Ribbon Communications Operating Company, Inc. (US), Sakon (US), and Curvature (US). These players are competing to deliver network transformation solutions and services that supports, secures, and delivers containerized applications that need to keep up with this new trend of building once and running-anywhere.
For the purpose of analysis, the European market has been divided into the UK, Germany, France, and the rest of Europe. In terms of market size, Europe is expected to be the second-largest region globally to adopt network transformation solutions and services that strictly comply with the European Union’s Open Internet access. The UK is projected to be the leading country-level market owing to higher adoption from various end-use verticals.
The Network Transformation Market Segments in Asia-Pacific region is projected to grow at the fastest rate over the forecast period, with the regional market being segmented into China, Japan, India, and the rest of Asia-Pacific. This growth is attributed to the rapid economic developments and increasing awareness for data driven insights in major countries including China, Japan, India, among others. Furthermore, IT & telecom companies in the region are developing their digital skills and capabilities to ensure they stay one-step ahead of their competitors across the globe.
The market in the Middle East & Africa and South America is expected to register robust growth during the forecast period. The demand is contributed by the industrialization and digital transformation across the industry is expected to continue adoption of network transformation platform over the forecast period.
Key Players
According to MRFR analysis, Ciena Corporation (US), Cisco Systems, Inc. (US), Telefonaktiebolaget LM Ericsson (Sweden), Dell Inc. (US), FUJITSU (Japan), Juniper Networks, Inc. (US), Hewlett Packard Enterprise Development LP (US), Intel Corporation (US), IBM Corporation (US), NEC Corporation (US), Ribbon Communications Operating Company, Inc. (US), Wipro Limited (India), TATA Communications (India), Sakon (US), and Curvature (US). The key strategies adopted by most of the players are partnerships, agreements, product developments, and collaborations.
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Network Transformation Market Research Report: Information by Technology (Hall Effect, Magneto Resistive, Variable Reluctance), By Application (Automotive, Industrial, Aerospace & Defense, Consumer Electronics) and Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America)—Forecast till 2030
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