The Global Network Optimization Services Market Will Be Driven by Increased Adoption by Several Industry Verticals During the Forecast Period 2021-2026
Expert Market Research’s new report titled ‘Global Network Optimization Services Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global market network optimization services market, assessing the market based on its segments such as service, application type, deployment model, organization size, industry vertical, and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
Key highlights of the report include:
Market Overview (2016-2026)
- Historical market size (2020): $3.13 billion
- Forecast CAGR (2021-2026): 8%
- Forecasted market size (2026): 7.55 billion USD
The growing use of network optimization services in the logistics industry to improve profitability, operational efficiency, and customer experience is driving the growth of the market. Rising supply chain spending is leading to an increase in the implementation of network optimization, which is also driving the growth of the market. The popularity of e-commerce platforms like Amazon and Walmart is increasing the demand for international logistics, resulting in high operational expenses. The increasing use of advanced technologies in education to improve student knowledge while improving academic outcomes is driving network optimization. Other factors such as the growing number of branch offices and data centers, growth in the use of Internet Protocol (IP) video and virtualization, and network optimization as a cloud service are driving growth of the market.
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Industry definition and major segments
Network optimization services are a collection of techniques to improve network performance. To monitor and improve network performance, various network optimization tools and techniques are used, including bandwidth management, global load balancing, packet loss monitoring, and latency minimization. Network optimization services ensure the most efficient use of system resources while increasing business productivity and skills.
The main services of network optimization services are:
The market can be broadly categorized on the basis of its application types into:
- Local network optimization
- WAN Optimization
- RAN optimization
- Data Center Optimization
Based on Deployment Model, the market is split into:
According to the size of the organization, the industry is classified into:
- Small and medium enterprises
- Large companies
On the basis of industry verticals, the market is classified into:
- Banking, Financial servicesand Insurance
- Government and Defense
- Transport and logistics
- travel and tourism
- Consumer goods and distribution
- Media and Entertainment
- Energy and Utilities
- Health and life sciences
- Information Technology
Based on region, the industry is divided into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The introduction of 5G network has increased the demand for network optimization, driving the growth of the market. As a result, there has been a spike in the use of creative planning methods to optimize 5G network functionality and cost-effectiveness. The industry is driven by the increasing use of 3D technology to model 5G network optimization to reduce manual errors and improve accuracy. In the coming years, increasing investment in the industry to optimize networks and expand the availability of high-speed internet connectivity is expected to drive the expansion of the market. An increase in the number of production facilities is expected to improve control over the deployment of network and information technology solutions and services.
Main market players
The major market players are Riverbed Technology, Inc., SolarWinds Inc., Cisco Systems, Inc., Nokia Corporation, and ZTE Corporation, among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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