Engineering Services Market Expected Worth—$76.3 Billion by 2027
The major factors driving growth of network engineering services market includes the shift toward digital transformation, increasing adoption of cloud-based solutions and need of online presence.
February 16, 2023
The global network engineering services market size is expected to grow from USD$48.7 billion in 2022 to USD$76.3 billion in 2027, at a compound annual growth rate (CAGR) of 9.4% during the forecast period, according to a report from Markets and Markets.
New technology trends like software-defined networking, ultra-low latency and network functions virtualization are changing how networks are deployed and managed. The current business ecosystem has increased the demand for digital transformation, access from anywhere, and secure access, with enterprises and small and medium size enterprises needing more networking, cloud and information and communications technology service assistance, according to Markets and Markets.
Innovations in networking, 5G, semiconductor technology, cloud, internet of things and flexibility in protocol customization create opportunities for people and businesses, according to Markets and Markets. Network services are required to accommodate high speed, access from anywhere and a data exchange experience that can cater to consistent traffic upsurge. The demand for upgrades to smart technology for networks, cloud inclusion, threats, budgetary constraints, remote access and the need for skilled network engineers are expected to grow, driving the demand for network engineering services, Markets and Markets adds.
Network engineering service is a suite of services including assessment, planning, and deployment of network models. The services consist of design and implementation of the user network, interface networking including wired, wireless, wide area networking, remote access virtual private network, remote desktop protocol, network authentication, firewalls and traffic management for all types of infrastructure and network components in the ecosystem.
North America is expected to be the largest revenue contributor to the network engineering services market globally, as the region is an early adopter of network solutions and has advanced IT infrastructure. As global and emerging technology trends continue to drive the network to evolve, enterprises are accelerating their modernization, deploying new applications, expanding into public or multi-cloud architecture and adopting new infrastructures to achieve goals like network flexibility, agility and security.
The market for network engineering services is made up of companies that sell these services, which include designing, developing, and maintaining computer networks that offer wireless, data, voice and video network services internally. Network engineering service providers collaborate with consultants, telecom firms, businesses, ISPs, and others to conceive, organize, and carry networking demands. As fiber networks, cloud technology and IoT devices become the standard, the quantity and sophistication of these applications are anticipated to skyrocket. All these businesses depend on network engineering service providers, contributing to high demand in the market.
Top Key Players
Major vendors operating in the network engineering services market include Cisco (US), IBM (US), Ericsson (Sweden), Huawei (China), Juniper Networks (US), HCL Technologies (India), Infosys (India), NTT Global Networks (US), Fujitsu (Japan), Cyient (Hyderabad), CSS Corp (US), Accenture (Ireland), Aviat Networks (US), AT&T (US), Wipro (India), TCS (India), Tech Mahindra (India), Mphasis (India), CODETRU (US), Inspira Enterprise (India), Advance Digital Systems (US), Nexius (US), Hughes Systique (US), CHR Solutions (US), Velocis Systems (India), IMMCO (US), Sincera (US), and Vertikal6 (US).
Sources: Press materials received from the company and additional information gleaned from the company’s website.
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