Network Optimization Services Market To Hit USD 9.78 Bn By 2028 | Top Players Such As – Circadence, ZTE And Netscout

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Network Optimization Services Market

Increasing number of data center , growth in usage of IP video & virtualization and network optimization as cloud services are driving market growth.

PORTLAND, PORTLAND, OR, UNITED STATE, May 29, 2023 /einpresswire.com / — Allied Market Research published a new report, titled, ” The Network Optimization Services Market to Hit USD 9.78 Bn by 2028 | Top Players such as – Circadence, ZTE and Netscout.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global network optimization services market size was valued at USD 3,040 million in 2020, and is projected to reach USD 9,784 million by 2028, registering a CAGR of 16.1% from 2021 to 2028.

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Advancements in network infrastructure and demand for VoIP Services across enterprises drive the growth of the global network optimization services market. However, considerable leaps in WAN and RAN optimization technology hinder market growth. On the other hand, surge in the number of production facilities that improve the control of the establishment of network and information technology solutions & services present new opportunities in the coming years.

The network optimization services market is segmented into service, application, organization size, and industry vertical. Based on service, the market is divided into implementation, consulting, and support & maintenance. Based on application, the market is fragmented into local network optimization, WAN optimization, RAN optimization, and data center optimization. Based on organization size, the market is bifurcated into small & medium enterprise and large enterprise. Based on industry vertical, network optimization services market is classified into banking, financial services, & insurance, telecom, government and defense, transportation and logistics, travel and tourism, manufacturing, consumer goods and retail, media and entertainment, energy and utility, healthcare and life sciences, education, and information technology (IT).

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By service, 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.

By application, 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.

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Based on region, the global 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.

Some of the major companies operating in the market are Solarwinds, Cisco Systems, Huawei, Nokia Corporation, ZTE, Infovista, Citrix, Circadence, Fatpipe Networks, and Netscout Systems.

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Impact of Covid-19 on Network Optimization Services Market (Pre and Post Analysis)

● There has been increase in demand for network optimization services from government agencies and policymakers 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.

● Many businesses opted for a“work from home” culture and they employed best measures to ensure optimal performance and security of their network infrastructure due to increase in network threats such as data breaches and hacking.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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