Network Engineering Services Market Surges Ahead with Impressive USD 111.7 Bn USD and 10.1% CAGR Growth

Network Engineering Services Market

Network Engineering Services Market

The introduction of advanced networking solutions is expected to provide major growth opportunities for the growth of the market.

PORTLAND, PORTLAND, OR, UNITED STATES, August 7, 2023/EINPresswire.com/ -- According to the report published by Allied Market Research, the global network engineering services market garnered $43.7 billion in 2021, and is estimated to generate $111.7 billion by 2031, manifesting a CAGR of 10.1% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chains, competitive scenarios, and regional landscapes. This research offers valuable guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

The increasing number of connected devices, the increased requirement for new highly developed network infrastructure, and technological advancements in the field of Information and Communications Technology (ICT) drive the global network engineering services market. Based on region, North America held the largest share in 2021, contributing to more than one-third of the global network engineering services market share.

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Covid-19 Scenario:

• The outbreak of the COVID-19 pandemic had a positive impact on the growth of the global network engineering services market, due to accelerating demand for networking services to support several crucial IT operations in verticals such as BFSI and manufacturing.

• Moreover, the increasing work-from-home trends during COVID-19 generated a need for Wi-Fi networks that use multiple nodes and can communicate with each other to seamlessly share a wireless connection within a larger area. Such factors propelled the growth of the global network engineering services market during the period.

The research provides detailed segmentation of the global network engineering services market based on Service Type, Connectivity, Enterprise Size, Industry Vertical, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.

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Based on service type, the network deployment segment held the highest share in 2021, accounting for nearly half of the global network engineering services market, and is expected to continue its leadership status during the forecast period. This segment is expected to register the highest CAGR of 13.6% from 2022 to 2031.

Based on connectivity, the wired segment accounted for the highest share in 2021, contributing to nearly two-thirds of the global network engineering services market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the wireless segment is expected to manifest the highest CAGR of 11.6% from 2022 to 2031.

Based on industry verticals, the IT and telecom segment accounted for the highest share in 2021, holding nearly one-third of the global network engineering services market, and is expected to continue its leadership status during the forecast period. However, the healthcare segment is estimated to grow at the highest CAGR of 15.5% during the forecast period.

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Based on region, North America held the largest share in 2021, contributing to more than one-third of the global network engineering services market share, and is projected to maintain its dominant share in terms of revenue in 2031. However, the Asia-Pacific region is expected to manifest the fastest CAGR of 13.8% during the forecast period.

Leading market players of the global network engineering services market analyzed in the research include Infosys Limited, Sincera Consulting LLC, Integration International, Inc., TATA Communications, Imagit Inc, Softnautics, Cyient, Mphasis, Datavision, Inc., PCS Technologies Inc.

The report provides a detailed analysis of these key players of the global network engineering services market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

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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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