LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global network optimization services market to grow at a CAGR of close to 13% during the period 2018-2022, according to their latest report.
This market research report segments the global network optimization services market into the following deployment models (cloud-based and on-premises), end-users (BFSI, telecom, government and defense, transportation and logistics, and retail), and key regions (the Americas, APAC, and EMEA).
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In this report, Technavio analysts highlight the advances in network infrastructure as a key factor contributing to the growth of the global network optimization services market:
Advances in network infrastructure
The rise in the number of connected devices in industries has led to massive amounts of data generation over the network. Utilization of these data helps businesses to optimize costs, deliver better services, and boost revenue. There is high demand and adoption of network technologies to improve the competency of business and reduce the cyber threats. A number of technologies are either renovations or updated versions of previous technologies, which requires a continuous check on its network efficiency. To enhance productivity, companies are introducing automation and flexible production techniques in manufacturing processes in the end-user industries over the network. Additionally, predictive asset maintenance aids in reducing costs on scheduled repairs, reduce maintenance costs, and eliminate breakdowns while operating the network.
According to a senior analyst at Technavio for IT professional services, “The introduction of next-generation network monitoring enables the organization to passively collect data about the traffic on their network, servers, and clients, and automatically discover all applications. This allows the organization to find the performance of their network infrastructure, which supports their applications and makes an impact on the overall experience of the user to improve customer relationship. A seamless connection for efficient communication among machines, systems, and people needs to be established to implement these technologies in the industrial framework. Therefore, optimizing the network services have become a strategic priority for several industrial organizations.”
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Global network optimization services market segmentation
Of the five major end-users, the BFSI segment held the largest market share in 2017, accounting for nearly 31% of the market. The market share for this end-user is expected to increase by 2022. The fastest growing end-user is telecom, which will account for 25% of the total market share by 2022.
The Americas was the leading region for the global network optimization services market in 2017, accounting for a market share of 38%. By 2022, APAC is expected to witness massive growth of nearly 4%.
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